Latest news: Common Thread adds; FIFA cancellations; Canada strong again

Common Thread buy. Common Thread Hotels and its affiliate PRG Investment & Management have acquired the 22-room Hotel Joaquin, a luxury boutique hotel in Laguna Beach, California, from Auric Road, which reportedly acquired the property in 2016 for $7.2 million. This acquisition marks Common Thread’s 10th hotel in its portfolio, in addition to an 11th in pre-development in downtown Paso Robles. The Joaquin was redesigned in 2019 and the new owner said no renovations are planned.

FIFA cancellation. FIFA canceled about 2,000 hotel room reservations in Philadelphia, affecting four city center properties, according to the Greater Philadelphia Hotel Association, after originally blocking off roughly 10,000 rooms. FIFA has canceled room blocks in several of the 15 other host cities as well, according to the Philadelphia association. The rooms will go back into the marketplace and sold to FIFA fans. The association also noted that two citywide conventions are scheduled during the World Cup, which will help fill the remaining rooms.

Canada strong. Canada’s hotel industry in February reported a second consecutive month of year-over-year performance increases, according to CoStar data. Occupancy was 57.9% (+0.2% YOY); ADR was CAD197.05 (+4.0% YOY); and RevPAR was CAD114.18 (+4.2% YOY). Among the provinces and territories, Manitoba registered the largest increases across each of the three key performance metrics: occupancy (+7.6% to 66.8%), ADR (+7.8% to CAD178.28) and RevPAR (+16.0% to CAD119.17). Among the major markets, Vancouver saw the largest increases in occupancy (+3.7% to 73.8%) and RevPAR (+7.8% to CAD166.24). Despite reporting the steepest decline in occupancy (-7.2% to 63.8%), Toronto posted the highest ADR gain (+7.2% to CAD229.48).

Europe trading data. The European hotel investment market saw another year of strong performance in 2025 with total transaction volume reaching €22.6 billion, a rise of 30% on the previous year, according to the HVS European Hotel Transaction Report. This is the third-highest transaction level ever recorded, with some 461 deals involving 725 hotels and more than 107,000 rooms, making 2025 the best-performing year since the peak year of 2019. Hotels transacted for an average price of €31.1 million, up 7% on the previous year. The average price per room was €210,000, a fall of 2% from 2024 levels. Private equity activity dropped by 39% on the previous year, leaving owner-operators and real estate investment companies the dominant forces in the transaction market.

Avion growth. Avion Hospitality has been selected to manage the 397-room Hilton DFW Lakes Executive Conference Center in Grapevine, Texas.  The addition expands the company’s presence in the Dallas–Fort Worth market and brings its national portfolio to 40 hotels. The hotel was recently acquired by Highline Hospitality.

Crowne Plaza to Gurgaon. IHG Hotels & Resorts has signed a management agreement with Harisons Hotels & Resorts Pvt. Ltd. to introduce the 150-room Crowne Plaza Resort Gurgaon Sohna in India near Palwal in the National Capital Region. Scheduled to open in first quarter of 2029, the resort will be located within a 70-minute drive from Delhi International Airport. The hotel will be positioned to cater to a strong wedding and social celebrations demand in NCR originating from neighboring states, alongside weekend leisure travel and corporate offsites.

PPHE funds London deal. PPHE Hotel Group, London, has entered into an agreement with Bank Hapoalim B.M. to fund the acquisition of the freehold interest in Park Plaza London Waterloo, as originally announced on March 2. The new £136.45 million facility has an initial two-year term, with the right to extend subject to certain conditions. The facility bears a floating interest rate, of which c.90% will be hedged. PPHE Hotel Group’s portfolio was valued at £2.2 billion at the end of 2025.

Zedwell adds in London. Zedwell plans to convert 39 Bell Lane in Spitalfields into a new flagship East London hotel. The scheme will transform a vacant office building into a mixed-use destination, delivering 143 Zedwell “cocoons” alongside affordable workspace. The announcement comes just days after Zedwell unveiled its expansion into Oxford and York.

Sun-Marriott deal in Vietnam. Sun Group and Marriott International have entered a strategic partnership to develop 10 hotels (4,500 rooms) in Phu Quoc and Vung Tau, Vietnam with openings scheduled between 2026 and 2030. Eight Marriott brands are part of the deal, including Marriott Hotels, W Hotels, Le Méridien and Westin. In addition, W Hotels and Moxy Hotels will make their debut in Vietnam. Sun Group and Marriott International previously worked together on luxury projects in Phu Quoc such as the JW Marriott Phu Quoc, which opened in 2017.

Bob W adds in Munich. Bob W has signed a long-term lease agreement for a flagship city center property in Munich that will deliver 119 serviced apartments across 5,800 sqm. The building comprises a mix of studios and one-bedroom apartments, all equipped with kitchenettes, and is expected to open in May 2026. Bob W now operates six properties in Munich and has more than 100 assets and 7,000-plus units across Europe and the U.K.

Planet Hollywood to Tbilsi. Planet Hollywood Resorts International announced its debut in Tbilisi, Georgia, through a license agreement with Orbi Group and Block Group, in association with Iconic Entertainment. Currently under construction, the development is part of a 1,200-room, two-tower luxury campus featuring a 500-room Planet Hollywood Hotel & Casino and a 600-room Radisson Blu luxury hotel. The destination will include a 50,000-square-foot casino, a 4,000-seat entertainment and special events venue, more than 70,000 square feet of Harvey Nichols retail, and a curated mix of international dining, nightlife, and lifestyle offerings.

Summit adds in India. Summit Hotels & Resorts has signed boutique hotels in North Bengal, India. Properties in Siliguri and Darjeeling are scheduled for August 2026 and January 2027 openings, respectively. The Summit Gulma River Resort in Siliguri and Summit Falling Water near Darjeeling are each designed to offer 30 rooms.

Italy consultancy. Chris Henry of Majestic Hospitality, a full-service property consulting firm, and Christian Scali of LV Toscana SRL, an Italian hospitality management company have launched Italy Access Advisory (IAA).  The strategic partnership provides a full suite of consultancy services for international owners/investors looking to enter the Italian hospitality market.  The new entity offers acquisition, development and operational advisory services for a variety of Italian hospitality projects, from hotels and branded residences to resorts, vacation house agriturismo to luxury B&B.