Latest news: Ashford sells in Houston; B&B modular design; DoubleTree milestone

Ashford sells in Houston. Dallas-based REIT Ashford Hospitality Trust (AHT) has signed a deal to sell the 242-room Hilton Houston NASA Clear Lake in Texas to an undisclosed seller for $27 million. When adjusted for AHT’s anticipated capex, the price represents a 3.2% cap rate on net operating income or 23.6x hotel EBITDA for the 12 months ended April 30, 2025. Excluding the anticipated capital spend, the sale price represents a 5% capitalization rate on net operating income or 15.2x Hotel EBITDA for the 12 months ended April 30, 2025. CEO Stephen Zsigray said the sale would deleverage its Morgan Stanley 17 Pool loan and result in significant capex savings.

New hotel in Virginia. Greensboro, North Carolina-based Daly Seven is developing a currently under construction 113-key Holiday Inn Express & Suites and an adjacent restaurant parcel in Lynchburg, Virginia. The new hotel replaces an existing Holiday Inn Express nearby and is scheduled to open in the fall of 2026. The hotel is designed to serve both business and leisure travelers visiting Liberty University, Centra Health and the greater Lynchburg area.

B&B modular design. B&B Hotels is set to complete by this fall its first hotel using modular timber construction in Neustadt, Germany. The project combines modern modular techniques with the restoration of a listed historic building, reflecting a strategic focus on faster, more economical and environmentally conscious hotel development. The new 100-key hotel will be located near the Neustadt train station as a hybrid building that integrates a modern new structure with a revitalized, protected agricultural storehouse. While the ground floor and stairwell core will be built using traditional solid construction methods, the upper floors will utilize prefabricated timber modules.

Radisson growth in Greece. Radisson Hotel Group has signed the 94-key Punda Resort Paros, which will join its portfolio as a member of the Radisson Individuals collection. The seaside resort is expected to open in the second quarter of 2026 and marks Radisson’s entry into the Cycladic island of Paros. With this signing, Radisson has 12 hotels in operation or under development in Greece and aims to reach 30 by 2030.

DoubleTree growth. DoubleTree by Hilton is opening its 700th hotel and expanding into 60 countries and territories. Over the past year, the brand welcomed more than 40 new properties to its portfolio, including debuts in Nice, France, the country of Laos and the Azores Islands region as well as Malta. DoubleTree has a pipeline of more than 240 hotels in development and nine upcoming first-in-country and territory debuts.

Atom Hoteles sells in Spain. Madrid-based Atom Hoteles is selling for €50 million its 319-key Exe Rey Don Jaime hotel in Valencia, Spain, to Genefim, the real estate investment arm of Paris-based Société Générale Group. This marks Atom’s eighth divestment since reaching its portfolio peak of 32 hotels worth over €1 billion. Atom’s remaining portfolio of 24 hotels totals nearly 6,000 rooms and is valued at €858 million.