Latest news: Hurricane update; Cooper buys in Florida; IHG adds in Sydney

Hurricane update. As Hurricane Melissa slammed the island of Jamaica, the Jamaica Tourist Board said that safety of 25,000 visitors on the island remained “the top priority.” The Jamaica Ministry of Tourism activated its Emergency Operations Centre, which coordinates communication and information between hotels, attractions, transportation providers and government agencies. Hoteliers are offering distress rates to visitors who needed to extend their stay, and shelter spaces have been made available, including the Montego Bay Convention Centre and James Hunter Conference Centre in Negril. Jamaica Prime Minister Andrew Holness declared the country a disaster area, with St. Elizabeth Parish reported to be "underwater." The hurricane has since made landfall in Cuba and is expected to move to the Bahamas.

Cooper acquires in Florida. Naples, Florida-based Cooper Hotels has acquired the 107-key Hampton Inn & Suites by Hilton Naples-Central in Naples, Florida. The property marks the company’s second hotel in the market, joining the Hilton Naples, and its seventh in Florida. Cooper plans to invest an additional $4 million in renovations in the coming months.

Croesus refi in Texas. Boston-based Croesus Hotels has arranged the refinancing of the 103-key Fredericksburg Inn & Suites in Texas. CooperWynn Capital arranged the financing. Croesus has invested over $5 million in capital improvements on the property. According to CooperWynn, the financing resulted in mid-$9 million in loan proceeds with a five-year, fixed-rate CMBS financing at rates below 5.4%.

Pebblebrook $150M share buyback. Bethesda, Maryland-based Pebblebrook Hotel Trust has authorized a new share repurchase program that permits the company to repurchase up to $150 million of its outstanding common shares. The company also terminated its previous common share repurchase program.

B&B, Land Union expand partnership. B&B Hotels and Berlin-based Land Union Gruppe have entered into a strategic partnership, marked by the opening of their first joint property in Lübeck, Germany. The newly opened 79-key B&B Hotel Lübeck-Berliner Platz is owned by Land Union, with B&B serving as the operator. The opening marks the beginning of a wider collaboration, with 10 additional hotels planned in Germany and other European countries over the next few years.

IHG adds in Sydney. IHG Hotels & Resorts is partnering with New South Wales, Australia-based developer-builder Urban Property Group to introduce the 217-key Crowne Plaza Parramatta in Sydney. The hotel is scheduled to open in 2029. The Crowne Plaza brand has reached 415 open hotels and 144 pipeline properties worldwide.

Samhi adds in Mumbai. Gurugram, India-based Samhi Hotels Ltd. has received approval from the Maharashtra Industrial Development Corp. (MIDC) to develop a dual-branded hotel near Navi Mumbai International Airport. The project, which will feature a 700-key dual-branded Marriott property with Westin and Fairfield brands, will mark the company’s entry into Mumbai and become its largest asset by room count.

ITC Hotels opens new brand. West Bengal, India-based ITC Hotels Ltd. has announced the launch of the new Epiq Collection brand as part of its expansion strategy. The inaugural hotels will open with the 118-key Epiq Collection Puri and the 201-key Epiq Collection Tirupati, which are still under development.

Tikehau acquires in Germany. Paris-based Tikehau Capital is partnering with Cresco Real Estate to acquire the 278-key Tierpark Hotel in Berlin-Lichtenberg, Germany, from an undisclosed seller for an undisclosed amount. The deal marks the second joint venture between the two companies. The investors are expanding their collaboration into the hotel sector, while continuing to pursue their respective value-add strategies in the German market.

Eight Continents buys in Europe. Ashford, England-based Eight Continents Hotels & Resorts has acquired the La Barbarie Hotel on the island of Guernsey from an undisclosed buyer for an undisclosed amount. The purchase represents a landmark in the group’s expansion into Europe, introducing its luxury brand into the Channel Islands.

Aleph adds in KSA. Dubai-based Aleph Hospitality has signed a hotel management agreement with Area Investment and Real Estate Development to operate its first hotel in Dammam, Saudi Arabia. Scheduled to open in 2027, the 84-room hotel is located 30 minutes from King Fahd International Airport in Al Khobar. Aleph is currently in negotiations to secure the hotel’s branding.

Melia adds a resort in Spain. Palma, Spain-based Melia Hotels International is partnering with Katmandu Group to form a new integrated theme park resort in Mallorca, Spain. The Sol Katmandu Park & Resort is a joint venture between Melia Hotels International and the Katmandu Group and will see the merger of the Magaluf Park Hotel and the Katmandu Park. The Sol Magaluf Park property will be transformed into a Katmandu-themed hotel.