Latest news: Luxe sales surge in Europe; Tempo international debut; Myanmar earthquake

5-star price premium in Europe. Luxury hotels saw a significant price premium over 4-stars in Europe last year, according to Global Asset Solutions. Transaction volume in 2024 reached €10.95 billion for 137 hotel deals. Institutional investors were most active, accounting for 27.6% of volume, followed by owner-operators with 21.2% and private equity with 19.7%. The average deal size was €79.9 million, with 5-star hotels achieving €865,334 per key and 4-star €295,339 per key. The U.K., France, Spain and Italy were the most active investment markets, accounting for over half of the volume across Europe. The U.K. (16.3%) and France (16.1%) led the market. Paris and London were the leading cities, accounting for almost a quarter of the volume. With €1.38 billion in transactions, Paris led, while London followed with €1.27 billion. 

Tempo’s international debut for Hilton. Hilton is partnering with Carrickfergus, Northern Ireland-based Loughview Leisure Group to sign the 144-key Tempo by Hilton Belfast City Centre in Northern Ireland, which will mark the brand’s international debut. The hotel will join a global portfolio of 56 hotels trading and pipeline, with further openings planned for 2025 in San Diego, California, Nashville, Tennessee, and Pigeon Forge, Tennessee. Hilton is opening three new properties in Northern Ireland in 2025, which will double its room count in the country.

Myanmar earthquake. A 7.7 magnitude earthquake rattled much of Southeast Asia on Friday, flattening skyscrapers and leaving more than 1,600 people dead, over 3,400 injured and over a hundred missing from Myanmar to Thailand. The epicenter was in Mandalay, Myanmar, the country’s second-largest city. Statements from two Bangkok-based hotel companies, Minor Hotels and Dusit International, said they didn't experience major damage to their hotels. But some high-rise hotels in Bangkok  temporarily limited operations after the earthquake, according to Travel Weekly, including the InterContinental Bangkok Sukhumvit (shortly after the earthquake, video widely shared over social media showed water cascading from the hotel's rooftop infinity pool down the side of the building during the quake). The Banyan Tree Bangkok and the Pullman Bangkok Hotel G also reported disruptions.

Park City hotel rebranding. The Park City Peaks Hotel in Utah is converting into the Hotel Thaynes, a Tribute Portfolio Hotel, according to its operator, Provo, Utah-based Lodging Dynamics Hospitality Group. The renovation and rebrand are scheduled to be completed in October.

Margaritaville resort in Honduras. Margaritaville and Cancún-based Karisma Hotels & Resorts are partnering with Honduras-based Island Shipping, S. de R.L.to develop the 170-key Margaritaville Island Reserve Resort Roatan in Honduras. The all-inclusive resort is scheduled to open in fall 2027.

Travelodge expanding in UK. Travelodge plans to open 15 hotels across the U.K. in 2025 through its traditional leasehold model, further freehold acquisitions, as well as rebrand and development opportunities. A site in London has already opened and will be joined by nine hotels recently acquired on a freehold or long leasehold basis, which will be renovated and rebranded as Travelodges. Four new leaseholds will also enter operation by the end of the year.

RealVantage acquires in Glasgow. Singapore-based RealVantage and London-based Oberland have jointly acquired the 59-key Arthouse Hotel in Glasgow, Scotland, for £12 million (S$20.8 million). According to a report in The Strait Times, RealVantage owns 85% of the 59-key hotel, which is now undergoing extensive renovations, adding 15 keys to the property. C1 Capital Partners is the appointed interim operator for the hotel.

Minor to debut in Paraguay. Minor Hotels is partnering with Asunción, Paraguay-based Grupo Petra to debut in Paraguay with the development of a new NH Collection hotel in Asunción. The new-build 80-key NH Collection Asunción is scheduled to open in 2029 and will be part of a large mixed-use real estate development. Minor is looking to grow further in Latin America by exploring key markets such as Chile, Argentina and Peru. 

Accor adds in Italy. Accor, Jersey, UK-based Invel Real Estate and Athens-based Prodea Investments have signed the 80-key Hotel Bellevue Cortina d’Ampezzo, Emblems Collection, marking the brand’s first property in Italy. The hotel is scheduled to open at the end of 2026. The property dates back to the late 19th century.

Meliá adds in Spain. Meliá Hotels International has signed the 134-key Bahía Estepona member of Meliá Collection in the town of Estepona, Spain, which will operate under The Meliá Collection brand, marking the first project on the Costa del Sol within its portfolio. The hotel is scheduled to open by mid-2026.

Atmosphere Core adds in India. Maldives-based Atmosphere Core is partnering with Meghalaya Infratech Ltd. to 207-key The Dhar A Signature Atmosphere Guwahati at the border between Guwahati and Meghalaya in India. The hotel is scheduled to debut in the first quarter of 2026. Atmosphere Core plans to launch 25 properties by the end of this year.

IHG adds in South Australia. IHG Hotels & Resorts is partnering with Strategic Alliance to sign the 150-key InterContinental Barossa Resort & Spa in South Australia, one of the country’s most celebrated wine regions. The hotel is scheduled to open in 2028.

IHCL adds boutique brands. Indian Hotels Co. Ltd. is introducing the Claridges Collection, a set of boutique luxury hotels, to its portfolio. Claridges Collection is set to build its portfolio across India’s metro cities and key leisure destinations with a vision to reach 20-plus hotels by 2030.