Latest news: McKibbon buys in Orlando; Emblems to Canada; Blue Diamond sub-brand

McKibbon acquires in Orlando. Tampa, Florida-based McKibbon Equities has acquired the 132-key Hilton Garden Inn Orlando I-4 Millenia Blvd Mall from an undisclosed seller for an undisclosed amount. The acquisition is the third investment for McKibbon Income Fund I, a real estate investment fund focused on acquiring existing select-service and extended-stay hotels. The hotel will be managed by McKibbon Hospitality, whose CEO, Randy Hassen, was recently interviewed by Hotel Investment Today.

First Emblems in North America. Rimrock Banff, a resort in the Canadian Rockies in Canada’s Alberta province, will become the first Accor Emblems Collection property in North America. The resort is owned by Oxford Properties Group and its capital partner. It will undergo a full renovation beginning in October 2025, reopening in summer 2026 as a flagship for Accor’s newest luxury collection brand.

Blue Diamond adds sub-brand. Toronto-based Blue Diamond Resorts is developing a sub-brand, Royalton Vessence, which is an adults-only offshoot of its Royalton brand. Royalton Vessence will debut in Barbados, replacing the previously planned Royalton Chic Barbados project. The Royalton Vessence Barbados is expected to open in the summer of 2026 on the island’s west coast. The all-inclusive resort will be affiliated with Marriott’s Autograph Collection.

Budapest Marriott sells. S IMMO Ag., a division of Vienna, Austria-based CPI Europe, has sold the 364-key Budapest Marriott Hotel for €115 million ($134.6 million), or approximately €316,000 per key, to a consortium headed by István Tiborcz, the son-in-law of Hungarian Prime Minister Viktor Orbán. The consortium consists of BDPST Group and Diorit Private Equity Fund, managed by Gránit Asset Management. The hotel will continue to operate as a Marriott. Tiborcz has several interests in the Budapest hotel sector and has ownership interests in eight other hotels in the area.

IHG adds two in KSA. IHG Hotels & Resorts in partnering with Koushan Real Estate Development Co. to sign Kimpton and EVEN Hotels Jeddah King Abdullah Sports City (KASC) in the King Abdullah Sports City in Saudi Arabia, a district surrounding the stadium that will host the 2034 FIFA World Cup. The two new properties are scheduled to open in 2028.

Atom Hoteles sells in Spain. Madrid-based Atom Hoteles sold the 107-key B&B Vitoria General Álava in Álava, Spain, to an undisclosed buyer for €9.2 million. Atom said it was the only 3-star asset in its portfolio. The company has sold nine hotels since 2022. 

ActivumSG acquires in Spain. U.K.-based ActivumSG has acquired the 213-key Fairmont La Hacienda Costa del Sol in San Roque, Spain, from Spanish REIT Millenium Hospitality Real Estate for €170 million. Millenium developed the resort and opened it in February 2025, with ASG-owned Odyssey Hotel Group now operating it.

Hilton adds in Japan. Hilton has signed an agreement with Central Japan Railway Co. and its subsidiaries to open the 283-key Hilton Takayama Resort in Japan. The existing Hotel Associa Takayama Resort, operated by JR Tokai Hotels Co. Ltd., will undergo renovations and be rebranded as a Hilton. It is scheduled to reopen in Fall 2026.

IHG adds in India. IHG Hotels & Resorts has signed a management agreement with Thanishq Hospitality to develop the 200-key Holiday Inn Bengaluru Electronic City. The hotel is scheduled to open in the first quarter of 2029. IHG currently operates 48 hotels across six brands in India, with a pipeline of 63 hotels set to open within the next three to five years.