Latest news: Exec moves at IHG, Accor, Langham, Ashford; Tribeca hotel trades

Tribeca hotel trades. France-based The Generation Essentials Group (TGE) has acquired the Hilton Garden Inn Hotel in New York City’s Tribeca neighborhood for $69 million. The property has been rebranded as AMTD IDEA Tribeca Hotel and plan to convert the hotel into what it describes as the world’s first Art Newspaper House. TGE’s portfolio includes L’Officiel, The Art Newspaper, and movie and entertainment projects. Eastdil Secured advised the seller on the deal.

New IHG leader for UK&I. IHG Hotels & Resorts has appointed Neetu Mistry as managing director for its U.K. and Ireland (UK&I) estate. Neetu will oversee more than 400 open and pipeline hotels, lead the continued growth and performance of the UK&I and strengthen partnerships across IHG’s diverse owner community. She previously served as an owner representative for one of IHG’s regional councils. In the UK&I, IHG has more than 400 hotels open and pipeline hotels across 11 brands.

Langham VP in US. Langham Hospitality Group has appointed Michele Grosso as regional vice president, Operations, U.S., effective February 1, 2026. He will continue to serve as managing director of The Langham, Boston while assuming his regional responsibilities. Grosso will oversee hotel operations across the group’s U.S. portfolio spanning two brands, The Langham Hotels and Resorts and Eaton, to enhance guest experience, support commercial objectives and maintain brand standards. Prior to LHG, Grosso spent much of his career with Four Seasons Hotels & Resorts, holding senior operational roles around the world.

HR head for Accor. Accor has appointed Laurent Choain as its new global chief people and culture officer, member of the group management board effective April 1, 2026. He will be pivotal in shaping Accor's talent agenda, focusing on evolving the group’s culture, attracting top-tier professionals, and fostering continuous growth and development opportunities for all employees globally. Besides his global role, Choain will also serve on the Premium, Midscale & Economy Executive Committee. His career includes senior roles at Forvis Mazars, Groupe Caisse d'Epargne (now BPCE), and Kempinski Hotels & Resorts.

Ashford CFO stepping down. Ashford Inc. has announced that CFO Deric Eubanks will retire in June following a 23-year career with the company and its predecessor. He will also step down at the company’s advised REITs, Ashford Hospitality Trust and Braemar Hotels & Resorts, effective March 31, 2026.  Justin Coe, the Ashford’s current chief accounting officer, will assume the role of principal financial officer. To ensure a smooth transition, Eubanks will continue to assist the company as senior managing director with financial and transitional matters until June 30, 2026. Afterward, he will continue to remain available as an advisor as needed.

Mexico update. Mexico tourism has dropped for ALG Vacations with consumer confidence waning due to recent cartel violence, according to a Travel Weekly report. Typically, Mexico accounts for 41% of the vacation packager’s business, but that dropped to 25% soon after violence erupted in Puerto Vallarta on February 22. Even with the drop in Mexico business, over 100,000 customers will have traveled there with ALG Vacations in February and March, said Jacki Marks, the company’s head of trade brands. “Has it softened? Yes,” Marks said. “It’s likely going to steady and stabilize over time.” Instead, travelers are visiting Caribbean destinations. Marks said travel to the Dominican Republic, Jamaica and Central America was up 50% year on year.

Japanese REIT buys. Japan’s One REIT Investment Corp. has agreed to acquire six properties across Japan for a combined JPY 29.9 billion ($189.6 million), funded through a public unit offering, bank borrowings and existing cash. The portfolio spans five hotel assets and the Kagurazaka Plaza Building office property in Tokyo’s Shinjuku ward. Upon completion of the deal, One REIT’s portfolio will expand to 34 properties with total assets of JPY 152.1 billion. The transaction marks the REIT’s fourth public-offering-linked acquisition since listing.

Manchester hotel recapped. RealVantage, which operates as RV SG Pte. Ltd., a private limited company regulated by the Monetary Authority of Singapore and holds a Capital Markets Services license, has acquired in an off-market transaction the Healthcote Hotel in Manchester, England, in a tie-up with London-based real estate investor and asset manager Oberland. The deal represents a total capitalization of p 14 million and a new ownership structure alignment with RealVantage taking an 85% ownership interest with 15% held by Oberland. RealVantage said the opportunity is projected to deliver a targeted 16% net IRR over 36 months. The Heathcote Hotel is expected to shutter operations in April 2026 and begin a targeted six-month refurbishment program.

Loan for Dublin development. Maslow Capital has provided a €54.2 million development facility to MM Capital and SCIO Capital for a 235-key hotel in The Liberties, Dublin 8. The borrower has agreed a long-term lease agreement with The Ascott Ltd. and the hotel will operate under its lyf brand.