Latest news: Bain buys in Paris; new IHG owners' CEO; Aman goes on safari

Bain acquires in Paris. Bain Capital, in partnership with London-based Columbia Threadneedle and Paris-based QuinSpark Investment Partners, is acquiring 957-key Pullman Paris Montparnasse from Paris-based REIT Unibail-Rodamco-Westfield for €300 million ($355 million). Built in 1974, the hotel spans 32 floors and underwent a €216 million comprehensive renovations in 2021. Asset management will be overseen by Columbia Threadneedle and QuinSpark. The deal is one of France’s largest hotel transactions of the year.

Valor adds 3 in the Atlanta area. Atlanta-based Valor Hospitality Partners is expanding its Hilton portfolio in the Atlanta metro area with the management takeover of three properties: the 315-key The American Hotel, Tapestry Collection by Hilton; the 174-key DoubleTree by Hilton Hotel Atlanta – Roswell; and the 90-key DoubleTree by Hilton Hotel Atlanta – Alpharetta. These adds are the result of a strategic partnership with the owner, Atlanta-based RADCO. Valor has 90-plus hotels in its portfolio across the Americas, the U.K., Africa and the Middle East.

New CEO of IHG Owners Association. The IHG Owners Association, which represents the interests of IHG Hotels & Resorts franchisees around the world, announced that Steve Sickel has been appointed CEO and will serve in the role beginning November 24. He succeeds John Muehlbauer, who informed the association earlier this year of his decision to retire at the end of 2025 following a 30-year career in hospitality and travel, including the last five years as CEO of the association. Sickel spent 13 years with IHG, during which he held various senior roles, culminating in the role of global head of revenue delivery, where he led the strategy and execution across IHG’s key commercial drivers. Most recently, Sickel served as partner and chief marketing officer at The Mallet Group, a global loyalty marketing consultancy with a focus on the travel sector.

Aman adds in Africa. Baar, Switzerland-based Aman Resorts is adding Aman Karingani, a safari retreat with a resort and branded residences, set within Mozambique’s 370,658-acre Karingani Game Reserve. This will be Aman’s first safari retreat in Africa and will feature 30 standalone pavilions with covered decks and their own private pools. There will also be a limited collection of three- to six-bedroom branded residences.

AAHOA secures carve-out for San Diego bill. The Asian American Hotel Owners Association (AAHOA) announced a win for its members as the San Diego City Council approved a carve-out for hotels with fewer than 150 rooms in its new minimum wage ordinance. The ordinance, which establishes a $25 per hour minimum wage for hospitality workers, will now exempt hotels with fewer than 150 rooms from the mandate. In addition, for hotels with 150 or more rooms, AAHOA successfully advocated for a phased-in implementation with wages for covered workers set to increase to $19 per hour beginning July 1, 2026, and rising by $1.50 annually until reaching $25 per hour in 2030.

Amex GBT forecasts stable rates. American Express Global Business Travel (Amex GBT) reports that global hotel rates are expected to remain relatively stable through 2026, with geopolitical instability and uncertainty surrounding potential U.S. tariffs limiting demand and restricting sharp increases. The report highlights tariff uncertainty as a potential factor for hotel pricing. Within this context, Canada stands out, with Amex GBT forecasting that Canada could see larger price increases than its southern neighbors; even with a growing supply of hotel rooms, our modeling indicates that rates for Toronto could rise by as much as +5.8%. That compares with increases of +4% in New York, +3% in Miami and Las Vegas, and +2% in Mexico City. Other regions are projected to see more moderate changes. In Europe, London is forecast at +4.2% and Paris at +2.4%, while Madrid is projected at +4.8%. London’s pipeline of 80 hotel projects, adding nearly 15,000 rooms, is expected to temper stronger increases. In Asia, Hong Kong is forecast to decline by –1.2%, while Beijing is expected to rise by +1.5%. India remains a growth leader, with Bengaluru, dubbed the Silicon Valley of India, projected at +6.4% following strong performance in 2025. In Latin America, Buenos Aires is forecast to increase by +5.6% and Rio De Janeiro by +5%. In the Middle East, Riyadh is projected at +2.3% and Dubai at +2%, with development pipelines keeping growth moderate.

Castlerock sells in Nashville. Nashville-based Castlerock Asset Management has sold its affiliated equity ownership in the Bobby Nashville to Nashville-based Music City Ventures. Castlerock, along with another investor, sold their respective 25% equity stakes, representing 50% of the overall asset, in a transaction valued at $72 million. The transaction represents a 5.84% capitalization rate on trailing 12 months NOI, underscoring the exceptional financial and brand value the property has achieved since its opening. Since opening, the Bobby Nashville has outperformed its comp set, running above a 129 RevPAR Index in 2024 and year-to-date 2025.

Pebblebrook's new convertible note. Bethesda, Maryland-based Pebblebrook Hotel Trust announced the pricing of its private offering of $350 million aggregate principal amount of its 1.625% convertible senior notes due 2030. The private offering is expected to close on September 18 and is subject to customary closing conditions. The company granted the initial purchasers in the offering a 13-day option to purchase up to an additional $50 million aggregate principal amount of the notes solely to cover over-allotments, if any. Pebblebrook intends to use the net proceeds from the offering, together with approximately $4.1 million of cash on hand, to repurchase for cash approximately $400 million aggregate principal amount of its outstanding 1.75% convertible senior notes due 2026.

Oyo plans 40 more Sundays in India. Oyo’s parent company, Prism, is ramping up the growth of its premium hotel chain, Sunday, with plans to launch 40 new properties across India during the current financial year. Sunday Hotels will expand into both metro and non-metro cities while tapping key tourism destinations such as wildlife reserves and major pilgrimage centers. Gujarat, Uttar Pradesh, and Rajasthan are expected to anchor this growth, contributing more than 40% of the brand’s new portfolio in FY26.

World’s tallest hotel opening in November. Ciel Dubai Marina, which will be the world’s tallest hotel, is opening in November in Dubai. The 1,004-key hotel spans 82 floors and has the world’s highest infinity pool on the 76th floor. The hotel will be part of IHG’s Vignette Collection.

Aloft debuts in Istanbul. Marriott’s Aloft Hotels is debuting in Istanbul with the opening of the 107-key Aloft Istanbul Karaköy. The opening marks the brand’s second hotel in Turkey.

Meliá adding in Argentina. Meliá Hotels International is adding the 167-key Hotel Alejandro I in Salta, Argentina, to its Affiliated by Meliá portfolio. The hotel will begin operations under the Meliá brand this October. Meliá currently operates five hotels in Argentina and has plans for four additional projects in the region.

IHG adds in India. IHG Hotels & Resorts has signed a management agreement for the 111-key Holiday Inn Siliguri, in partnership with Four Vedas Hotels & Resorts Private Ltd., a joint venture between Kaysons Group, Sagar Group and Golden Goenka Group. The hotel will be located in West Bengal, India, and is scheduled to open in 2027. IHG currently has 51 hotels operating across six brands in India and a pipeline of 72 hotels due to open in the next three to five years.

Lufthansa, Marriott partner. Lufthansa Group and Marriott International have announced a new strategic partnership linking their loyalty programs. The agreement will allow members of Lufthansa’s Miles & More platform to receive more benefits and status through the Marriott Bonvoy loyalty scheme.