Latest news: Mesa hotels sells; Waldorf condos selling; extended-stay gains

Pair of Mesa hotels sell. Tucson, Arizona-based HSL Properties has acquired two hotels in Mesa, Arizona, from Mesa-based Power Hotel Group for $50.25 million. The 180-key Sheraton and 129-key Courtyard by Marriott hotels are located in the “Wrigleyville West” area of the city next to the Chicago Cubs’ spring training facility. The portfolio also includes 15,000 sq. ft. of retail spaces, 18,000 sq. ft. of meeting spaces and an 11,000 sq. ft. ballroom. Cushman & Wakefield arranged the sale.

Waldorf condos selling. With asking prices reportedly starting at just under $1.9 million, three deeds representing roughly $7 million in sales have been signed for the residences at the Waldorf Astoria in New York City, according to Bisnow, citing records filed with the city. Now owned by China’s state-owned Dajia Insurance Group, the 375-room hotel to be managed by Hilton and sitting just below the 375 condominiums is set to open this spring, according to asset manager Strategic Hotels & Resorts, with reservations being accepted for September 1 and beyond.

Extended-stay saw Q4 gains. Extended-stay hotel RevPAR and room revenue for 4Q24 increased by 3% and 6.1%, respectively, the largest quarterly gains since 2Q22, according to The Highlands Group. Occupancy was 72.7% for extended-stay hotels for 4Q24, the highest in the fourth quarter for three years and 12% above the total hotel industry.  “Extended-stay demand growth in Q4 2024 was the largest quarterly increase in three years and well ahead of the accelerating gain in supply” said Mark Skinner, partner at The Highland Group.

Clarion Collection rebrands. Oslo, Norway-based Strawberry Hotels has rebranded its Clarion Collection, one of the Nordic region’s largest hotel chains, to its original name, Home Hotel. Founded in Sweden in 1983 by Jan Torgé, Home Hotel was acquired by Petter Stordalen in 1997 when it consisted of just a few hotels. The chain pioneered an innovative concept: centrally located hotels with 60–100 rooms, often housed in historic buildings. The name change to Home Hotel began this week and will roll out gradually over six weeks across the chain’s 54 hotels in Sweden, Norway, and Finland.

Pink Shell resort expansion. The Fort Myers Beach Town Council in Florida has approved a new six-story, 40-room Pink Shell Hotel across from the main resort. The Pink Shell Beach Resort and Marina suffered significant damage from Hurricane Ian over two years ago and, since then, the resort has advocated for its expansion. The project is expect to take 12-24 months to complete.

MRA Group adds in Delaware. Horsham, Pennsylvania-based MRA Group will develop a 127-key hotel in Wilmington, Delaware, operated under the Residence Inn by Marriott brand. Construction will begin this month, but a tentative completion date has not been announced. Gulph Creek Hotels will manage the property, which will be the first hotel constructed in the area in nearly three years, according to MRA Group.

LivAway adds in Glendale. Salt Lake City-based LivAway Suites and Lehi, Utah-based West77 Partners have broken ground on their newest extended-stay hotel in Glendale, Arizona. In addition to the Glendale location, LivAway Suites and West77 Partners are under construction for a hotel in Tolleson, and plan to break ground on four more locations in Arizona in 2025.

Four Seasons adds in UAE. Four Seasons Hotels and Resorts is partnering with Ras Al Khaimah, United Arab Emirates-based RAK Properties for a new beach resort and private residences as part of a 1,000-acre master-planned waterfront destination called Mina in Ras Al Khaimah. Four Seasons Resort and Residences Ras Al Khaimah Mina will have approximately 150 rooms and approximately 130 residences. Construction will begin in early 2026.

Wyndham adds in Greece. Wyndham Hotels & Resorts is partnering with Greek construction company Zafido Holding Ltd. and expanding into Piraeus, Greece, with the Tryp by Wyndham brand. The newly built, 65-key Tryp by Wyndham Piraeus Port hotel is scheduled to open in September 2026.

Whitbread acquires in London. Whitbread PLC, the parent company of Premier Inn, the U.K.’s largest hotel brand, has acquired the freehold of 35 Red Lion Square in Central London to convert into a hub by Premier Inn hotel. The property was purchased from the Royal College of Anaesthetists for an undisclosed amount. Whitbread sees the potential for a hub by Premier Inn hotel of around 150 rooms at the location.

ECE adds in Berlin. Hamburg, Germany-based ECE is investing in the further development of Gesundbrunnen Center Berlin by adding 162 design apartments, which will be operated by the serviced apartments brand Stayery. The long-term lease for 20 years was recently concluded between ECE Real Estate Partners, which manages the Gesundbrunnen Center as ECE Group’s investment manager for the property and Stayery.

Brigade Hotel Ventures IPO. Bangalore, India-based Brigade Hotel Ventures Ltd., a wholly-owned subsidiary of Brigade Enterprises, has secured SEBI approval for its ₹900 crore IPO debut. The company said the IPO proceeds will be allocated to debt repayment (₹481 crore), and ₹107.5 crore will be utilized toward acquiring an undivided share of land from its promoter, Brigade Enterprises. The remaining will be used for inorganic growth opportunities and other general corporate purposes. Brigade Enterprises Ltd. entered the hotel segment in 2004 and has a portfolio of nine operating hotels across Bengaluru, Chennai, Kochi, Mysuru and GIFT City in India.