Latest news: Hilton Atlanta trades in foreclosure; Pendry to Nashville; big Q4 for Manhattan

Hilton Atlanta sold at foreclosure. Axonic Capital, a subsidiary of Trinity Investments, exercised a credit bid of $191 million to take possession in a foreclosure auction of the 1,249-room Hilton Atlanta, a big downtown convention property. The sale took place on March 4 after the ownership group defaulted on its nearly $219 million loan, according to Fulton County property records. Florida-based Haberhill LLC and New York-based Apollo Global Real Estate Management bought Hilton Atlanta in 2015. The current debt on the property is a $194 million loan that matures in January 2026. CBRE has been hired to market the hotel for sale.

Pendry coming to Nashville. Pendry Hotels & Resorts is partnering with SomeraRoad, a Nashville and New York based real estate investment and development firm, and Trestle Studios, to bring the Pendry Nashville and Pendry Residences Nashville to the Paseo South Gulch district by 2027. The hotel will feature 180 guestrooms and suites, 146 Pendry Residences, a ground floor restaurant and lobby bar, a rooftop pool with a rooftop garden restaurant and bar, indoor and outdoor fitness center, and more than 10,000 square feet of meeting and event space. Additional partners include JE Dunn Capital Partners and Clark Construction. Financing was arranged by the Walker & Dunlop New York Capital Markets team.

Strong 4Q24 for Manhattan. New York City had a strong fourth quarter of 2025, returning to pre-COVID stabilized levels, with ADR and rate in Manhattan increasingly significantly year over year, according to a PwC report. However, PwC added that increasing supply and a stabilizing market could limit 2025 increases. Manhattan 4Q24 occupancy increased 3.5% to 89.3%, while ADR increased 7.9% to $420.74. RevPAR increased 11.7% year over year to $375.65.

East Miami on the market. Trinity Investments and Certares are reportedly working with adviser Jones Lang LaSalle to market the East Maimi hotel. The property could be valued at more than $325 million, said unidentified sources.

US travel ban. The Trump administration is expected to introduce a travel ban to the U.S. as early as late this week that would include 43 countries, according to multiple reports. He issued an executive order at the start of his term directing the cabinet to draft a list of countries within 60 days that should face full or partial restrictions. The draft list was separated into three sections — red, orange, and yellow. The “red” list includes 11 countries whose citizens would be entirely forbidden from entering the U.S.: Afghanistan, Bhutan, Cuba, Iran, Libya, North Korea, Somalia, Sudan, Syria, Venezuela and Yemen. Ten countries whose citizens will be limited from entering but not entirely banned were on the “orange” list. People of Belarus, Eritrea, Haiti, Laos, Myanmar, Pakistan, Russia, Sierra Leone, South Sudan and Turkmenistan will have to sit for in-person interviews to obtain a visa. The “yellow” list contains 22 countries, mostly African nations, that have 60 days to address concerns over alleged “deficiencies.” If these nations don’t comply, they risk being placed on the red or orange lists. This list includes Angola, Antigua and Barbuda, Benin, Burkina Faso, Cambodia, Cameroon, Cape Verde, Chad, the Republic of Congo, the Democratic Republic of Congo, Dominica, Equatorial Guinea, Gambia, Liberia, Malawi, Mali, Mauritania, St Kitts and Nevis, St Lucia, São Tomé and Príncipe, Vanuatu and Zimbabwe.

Wyndham debit card. Designed for younger travelers as well as those who prefer a debt-free lifestyle, Wyndham Rewards is announcing the launch of the Wyndham Rewards Debit Card—what it calls a first of its kind offering from a major hospitality brand in the U.S. Developed in collaboration with Galileo Financial Technologies, SoFi’s Technology Platform, the card offers elevated membership status, booking discounts and point earning on everyday spend. Sign-up include 2,500 Wyndham Rewards bonus after making at least two direct deposits and spending just $100 in the first 90 days. Members receive up to 7,500 bonus points each year on your card anniversary. Members pay a $6 monthly fee, which is waived with a minimum average monthly account balance of $2,500.