Latest news: Brookfield acquires Vancouver Hyatt; Fortress buys UK luxury; TPG spins off Sabre biz

Brookfield acquires Vancouver Hyatt. A fund managed by Brookfield Asset Management has acquired the Shangri-La hotel and retail space in Vancouver from Vancouver-based Westbank Corp. and Peterson Group, according to the Vancouver Sun. Last week, Hyatt announced the company will first operate the property as the 119-key Hyatt Vancouver Downtown Alberni while undergoing multi-million-dollar renovations and will eventually transition to its Park Hyatt brand in 2026.

UK luxury hotel sells. The 93-key Ragdale Hall, a luxury spa hotel in Leicestershire, U.K., has been sold by its family ownership to New York City-based Fortress Investment Group for an undisclosed amount. Michael Isaacs and Penny Nesbitt owned and operated the property for 35 years. Atlanta-based Davidson Hospitality Group has been hired to offer additional support to the current Ragdale staff.

TPG completes acquisition of Hospitality Solutions. San Francisco and Fort Worth, Texas-based TPG has completed its acquisition of Hospitality Solutions from Dallas-based Sabre. TPG will make Hospitality Solutions a standalone company and has named Teresa Mackintosh as CEO. Hospitality Solutions is a SaaS company that provides software that enables more than 40% of the world’s hotel brands.

Marriott adding AC in Australia. Marriott International has signed an agreement with KS Hotels & Resorts to introduce AC Hotels to the Gold Coast in Australia. Following extensive renovations that are scheduled to begin later this year, the hotel will be repositioned and open in mid-2026. The 202-key AC Hotel Gold Coast will be the first for the brand in Queensland and the second AC Hotel in Australia. Marriott expects to open 50 hotels across Australia, New Zealand and the Pacific by the end of 2027.

MGallery debuts in Albania. Accor’s MGallery Collection is opening its very first property in Albania with the 131-key Green Coast Hotel - MGallery Collection.  

Perth hotel sells. The West Australian government has purchased for the Frasers Suites Perth in Australia for AUD105 million from an undisclosed seller. The property had 236 rooms, which the WA government plans to turn into long-stay housing to help address housing shortages in Perth. JLL facilitated the sale.

First 25hours in KSA. Ennismore is opening its first 25hours hotel in Saudi Arabia with the 170-key 25hours Khobar, scheduled to open in 2028 and featuring 80 serviced apartments. The project, situated within the mixed-use Heart of Al Khobar development, will also feature Ennismore’s co-working brand, Working From_, marking its debut in the Kingdom of Saudi Arabia.

Teramir adding in KSA. Zafir Rashid’s Teramir Group is planning a new family-focused resort in Jeddah, featuring a 400-room beachfront hotel with entertainment amenities and water attractions. The project is part of Teramir Group’s expanding hospitality portfolio across Saudi Arabia and the wider Gulf region. The site is currently in early planning stages, with design work and brand partnerships under review. While specific operators have not been disclosed, Rashid noted that discussions are underway with potential stakeholders.