Latest news: New management co.; Hyatt-Playa update; new Sonesta, Choice prototypes

New management company. Investor-developer RREAF Holdings has formed MxR Hospitality, a strategic partnership with hospitality investor Philip McNeill, Sr., to develop extended-stay hotels nationwide and create a hospitality management company dedicated exclusively to the extended-stay segment to address gaps in the sector where assets are underserved. McNeill, Sr. was one of the first franchise owners of a Hampton Inn, opening the second location in its history in Little Rock, Arkansas in 1984; and was, at one time, the largest franchise owner of Hampton properties. He also served as chairman of the board and CEO of Equity Inns from the company’s founding in 1993 to January 2005.

Update on Hyatt-Playa deal. R.W. Baird analyst Michael Bellisario published a note late Monday with more details about Hyatt Hotels Corp.’s pending transaction to acquire Playa Hotels & Resorts, citing documents that show Hyatt issued $1.0 billion of senior notes (5.42% weighted-average YTM) and financing is in place for the pending ~$2.7 billion transaction. New disclosures include $149 million of Class A shares have been repurchased since mid-February. Negotiations with a potential buyer of Playa's real estate no longer appear exclusive with Hyatt disclosing that negotiations are ongoing with “potential real estate buyers” and conversations have broadened to multiple potential buyers, including the party that was subject to exclusivity. Also, termination fees will be $29 million to re-flag the third-party-branded hotels (which will be converted to Hyatt brands or sold).

Hawaii performance. Aside from Maui, Hawaii tourism is stable but not growing, according to a report by Travel Weekly, citing the latest forecast by the Economic Research Organization at the University of Hawaii. Maui is still struggling to recover following the 2023 wildfires. The study said that the island will increase its number of visitors in 2025, but it will “decelerate during the year.” The report added that after accounting for inflation, room rates are down slightly on the Big Island and Kauai. Maui hotels, facing lower occupancy, have also cut their nightly rates.

New Sonesta prototype. Sonesta International Hotels Corp. announced its new Sonesta Simply Suites prototype, a streamlined, market-responsive design catering to modern extended-stay travelers. The new construction prototype balances guest comfort with operational efficiency, offering two scalable configurations: a four-story, 122-key layout and a three-story, 89-key layout. Suites feature in-suite kitchens, ergonomic workspaces and ample storage. Public areas include a 24/7 grab-and-go market, fitness center, guest laundry and outdoor spaces. The back-of-house layout enhances operational efficiency, supporting streamlined staffing and reducing costs.

Comfort, CIS updates. Choice Hotels International is introducing new, value-engineered prototypes for Comfort and Country Inn & Suites by Radisson that will provide more revenue driving spaces for owners within the same footprint and achieve a 10% to 15% reduction in construction costs. In addition, the brand identities for both Comfort and Country Inn & Suites have been sharpened. Throughout the year, Choice Hotels plans on testing and rolling out a series of new and evolved brand hallmarks, including an updated breakfast offering, FF&E packages and more.

First City Express in US. Marriott International has opened the first City Express by Marriott property in the U.S. The City Express by Marriott Duluth in Georgia marks the company’s debut in the affordable midscale segment in the U.S. and Canada. More than 45 signed agreements are in place in the region with more than a dozen slated to open this year, including New Orleans, Chicago and Orlando. City Express by Marriott has also continued its expansion across the CALA region. This includes the recently announced expansion into Argentina, Bolivia, Nicaragua, and Peru, with eight new properties expected to open over the next three years. The company also plans to expand the brand’s portfolio into Brazil in the near future.

Financing for Brussels Metropole redo. Lone Star Funds has secured a €41 million loan from Cheyne Capital to finance the transformation of Brussels’ Hotel Metropole into a luxury lifestyle hotel.  The renovation, expected to be completed by the second half of 2026, will feature high-end amenities, including an indoor swimming pool, a fitness center, and the reopening of Café Métropole. The project ia set to meet CRREM standards and achieve a BREEAM “Very Good” rating. This aligns with Cheyne Capital’s strategy of financing real estate projects that integrate environmental best practices while preserving historical significance.

Doubletree grows in Asia Pac. Hilton has signed a deal for the first DoubleTree by Hilton Hotel in Siliguri Sevoke Road, in association with Soonerio Hotels Pvt Ltd, a subsidiary of the Beekay Group. This marks a strategic entry into Siliguri, West Bengal, popularly known as the ‘Gateway of Northeast India.’ The 120-key DoubleTree by Hilton Siliguri is scheduled to open in 2028. The brand has surpassed 100 properties in the region with over 80 additional properties in the Asia Pacific pipeline.

First Four Seasons yacht captain. Celebrity Cruises captain and social media star Kate McCue, the first American woman to command a major cruise ship, will captain Four Seasons Yachts’ first ship. The 95-suite Four Seasons I is expected to begin sailing in January 2026. The ship will sail in the Caribbean and the Mediterranean.