Latest news: Ares buys UK portfolio; Marriott grows in Canada; first Meliá in Laos

Ares buys big UK portfolio. Los Angeles-based Ares Management Corp. has acquired from London’s Land Securities Group a 21-hotel portfolio in the U.K. for £400 million ($501 million). All hotels are let by AccorInvest, who has agreed to surrender the leases and transfer operations to Ares. The properties are predominantly economy and midscale, with a majority residing in the London area. Landsec said it was selling because it does not have scale or focus in the sector and wants to use resources where it has more of a competitive advantage.

Marriott growth in Canada. Marriott International said its presence in the Canadian market has strengthened, as the company had a 36% year-over-year increase in hotel level-leisure revenue in 2023. Marriott currently has 274 hotels open nationwide, with 90 in the pipeline. It says the increased demand for leisure travel is driving success in the lifestyle sector with conversion-friendly soft brands like Autograph Collection and Tribute Portfolio. Marriott also said it is well-positioned to address underserved segments in the Canadian hotel market, including extended-stay, upper midscale and midscale. Two of its brands in these segments, Fairfield by Marriott (31 hotels open) and TownePlace Suites by Marriott (21 hotels open), are among the fastest-growing brands in the country, with 24 and 25 properties in Marriott’s pipeline, respectively.

First Meliá in Laos. Palma, Spain-based Meliá Hotels International is launching its first hotel in Laos with the opening of the 75-key The Grand Luang Prabang. The property, which will undergo a 12-month rebranding process, expands on a partnership with Thailand-based TCC Group to open Meliá’s hotels in the region. Meliá has a portfolio of 50 properties in operation or the pipeline in Meliá.

Hilton partners with Bilt Rewards. Hilton announced a new partnership with Bilt Rewards, a payments and rewards platform that will allow Hilton Honors members to earn rewards points through their monthly rent payments and allow loyalty members to transfer Bilt Rewards points into Hilton Honors points.

Placemakr expanding in Texas. Washington, D.C.-based Placemakr, a flexible-use hospitality and multifamily operator, is launching four new properties in Texas, including 259-key Placemakr Downtown Austin, which has apartment-style hotels. It is also launching its first smaller property with the opening of the 24-key Littlefield Lofts, Hosted by Placemakr, also in Austin. The company is also launching two residential properties in San Antonio. 

IHCL adds in Indore. Indian Hotels Co. Ltd. (IHCL) has signed a new hotel in Indore, Madhya Pradesh, India, which will be branded Vivanta. IHCL is partnering with Amaltas Palace Private Ltd. on the 180-key Vivanta Indore. This will be the 12th ICHL hotel in Madhya Pradesh, with four in the pipeline.