Latest news: Trailborn owner buys in Wyoming; credit spreads tighten; York adds in S. Carolina

Castle Peak acquires in Wyoming. Castle Peak Holdings, the investment firm behind the Trailborn hospitality brand, is acquiring 203-key Snow King Resort in Jackson Hole, Wyoming. The resort spans eight acres and features a range of amenities, including a restaurant, indoor and outdoor spa facilities, and ski-in/ski-out mountain access during winter months. This will mark Castle Peak’s eighth property and the company’s largest acquisition to date, following the recent opening of Trailborn Grand Canyon, Trailborn Surf & Sound, and Trailborn Highlands. Late last year, Marriott made an agreement with Trailborn as part of its outdoor-focused collection.

Credit spreads begin to tighten. While it is early in the current cycle, sentiment surveys and initial data from Trepp suggest lenders are once again beginning to tighten credit. Weekly spread updates from Trepp show a similar trend, which is starting to emerge as the market responds to a varied menu of tariffs. The report said there has been a wide difference in response from various lenders in the past week, with the range of spread movement as little as five basis points for some and as wide as 35 basis points for others, which signals the early stages of a repricing cycle, as lenders adjust to renewed economic pressures and geopolitical tensions.

York adds in South Carolina. York Hotel Group has broken ground on the 97-key Hampton Inn & Suites York in South Carolina. Florence, South Carolina-based Raines will manage what will become the only branded hotel in York.

SVC sells 3 in Michigan. Newton, Massachusetts-based REIT Service Properties Trust (SPT) has sold three hotels in Michigan: the 94-key Sonesta Simply Suites Detroit – Novi, the 122-key Sonesta Select Detroit – Novi, in Michigan and the 148-key Sonesta Select Detroit – Auburn Hills, to an undisclosed Michigan-based hotel owner/operator for an undisclosed amount. HREC Investment Advisors arranged the sale.

New chair for AAHOA. The Asian American Hotel Owners Association (AAHOA) has appointed Kamalesh (KP) Patel as its 35th chairman of the board for the 2025–2026 term. A second-generation hotelier from Santa Cruz, California, Patel grew up immersed in the hospitality business, working alongside his family and now managing properties with his wife, Krishna. He follows in the footsteps of his father, Suresh (SP) Patel, a respected industry leader and former AAHOA board member and North Pacific regional director.

Sani/Ikos acquires 3 in Greece. Metamórfosis, Greece-based owner-operator Sani/Ikos Group has acquired a portfolio of three hotels in Halkidiki, Greece, from Goldman Sachs Asset Management, according to HVS. The portfolio includes the 427-key Athos Palace, the 484-key Pallini Beach and the 165-key Theophano Imperial Palace. The three hotels are situated directly next to each other and Sani/Ikos Group plans to reconstruct and consolidate the three properties into Ikos Kassandra, the first Ikos Grand Resort. The total investment, including the acquisition cost and reconstruction works, is expected to be approximately €400 million and the resort is set to open in April 2029.

Hilton adds in Kuwait. Hilton is partnering with Kuwait City-based Mabanee on the Hilton Kuwait Resort. The property, which is scheduled to open in 2026, will include approximately 330 modern guest rooms, including 80 chalets, 64 villas and 36 studio apartments.   Th hotel will join three other Hilton properties in the country.

New KAIA brand launch in APAC. Thailand-based Bound and Beyond Public Co. Ltd. and Cloud Collective have partnered on the launch of KAIA, a new hospitality brand originating in Southeast Asia. KAIA’s first resort will be opening on Koh Phangan Island in Thailand at the end of 2025. The 30-key KAIA Koh Phangan will be located on the verdant northeastern coast of the island.

Dusit adding in Philippines. Bangkok-based Dusit International is partnering with Grand Land Inc., a subsidiary of Cebu City, Philippines-based Gaisano Grand Group of Companies, breaking ground on the 98-key ASAI Cebu Oslob. This marks the brand’s first beach resort and entry into the Philippines. Located in Barangay Lagunde — a coastal destination known for its beaches, whale shark encounters, and varied biodiversity — ASAI Cebu Oslob is slated to open in late 2026.

GHA Green Collection doubles. Dubai-based Global Hotel Alliance, the world’s largest alliance of independent hotel brands, has experienced significant growth in its Green Collection. Since its launch in March 2023, the collection has expanded by 150%, growing from 189 hotels, resorts and palaces to 472. This rapid expansion underscores the increasing importance of sustainability in the hospitality industry. Every Green Collection property has attained at least one certification from a globally recognized environmental organization, with EarthCheck, Green Growth 2050, Green Key and Green Globe among the 20 leading certification bodies represented, and each requiring hotels to meet the highest international standards for sustainability initiatives and performance, with regular third-party audits conducted to retain certification.