Latest news: NewcrestImage buys in Dallas; Earth’s southernmost hotel; US industry up

NewcrestImage acquires in Dallas. Grapevine, Texas-based NewcrestImage has acquired the 296-key The Beeman Hotel from an undisclosed owner for an undisclosed amount. Coury Hospitality partners with NewcrestImage to oversee its luxury properties and will manage the hotel. The property was formerly known as The Magnolia Hotel and changed names after completing a $4 million renovation in September 2020, when it was managed by Evolution Hospitality. Mehul Patel, CEO of NewcrestImage, said the company intends to rebrand the hotel in "high-end upscale category."

Hotel in Earth’s southernmost city. Fontvieille, Monaco-based luxury cruise operator Silversea is developing a hotel Puerto Williams, Chile, the southernmost city on Earth, which will allow guests to explore Antarctica. The new 150-key hotel will have guests embark on the cruise line’s Antarctica Bridge fly-cruise program – the fastest and most direct route to Antarctica – and fly directly to Puerto Williams from Santiago, Chile. The hotel is being built in partnership with a consortium of Chilean investors and completion is scheduled for the end of 2025.

New Ritz-Carlton Residences in Texas. The Woodlands, Texas-based Howard Hughes Holdings broke ground on Wednesday for The Ritz-Carlton Residences, The Woodlands in the Houston suburb. It will be the first standalone Ritz-Carlton Residences in Texas.

US hotel industry up. The U.S. hotel industry for September 22-28 reported positive year-over-year comparisons, according to CoStar data. Occupancy was 68.4% (up 2.6% YOY), ADR was $170.24 (up 7.5% YOY) and RevPAR was $116.50 (up 10.2% YOY). Among the top 25 markets, New York City saw the highest year-over-year increases in occupancy (up 11.4% to 93.2%), ADR (up 52.8% to $523.69) and RevPAR (up 70.1% to $488.32), driven by the United Nations General Assembly. The steepest RevPAR declines were seen in San Francisco (down 17.6% to $177.81) and Nashville (down 5.5% to $136.06).

Peachtree adds in Dallas. Atlanta-based Peachtree Group recently broke ground on a new 19-story dual-branded Marriott hotel in the Uptown area of Dallas. The development includes a 110-key AC Hotel and 154-key Moxy Hotel and is scheduled to be completed in the summer of 2026.

Whitbread adds in London. Dunstable, U.K.-based Whitbread is developing a 693-key hotel in central London, which will be one of London’s largest budget hotels when it opens. The hub by Premier Inn will open on a site off Trafalgar Square. Whitbread acquired the site as part of a strategy to expand in London and the £200 million-plus investment would be the largest hub by Premier Inn in the company’s portfolio.

Nrep adds in Stockholm. London-based real estate investor Nrep has acquired the 532-key Clarion Hotel Stockholm, one of the Swedish city’s largest hotels, from Aspelin Ramm Fastigheter for an undisclosed amount. The hotel was acquired through Nrep’s €3.65 billion fund NSF V and the deal marks a significant enhancement of the company’s urban property portfolio and its collaboration with the hotel chain Strawberry, which leases the full property.

Mandarin Oriental adds in Mexico. Hong Kong-based Mandarin Oriental Hotel Group will manage a luxury beachfront resort with branded residences on Mexico’s Riviera Maya on the Yucatan Peninsula. The 120-key Mandarin Oriental Kanai, Riviera Maya resort is scheduled to open in 2028. 

Scandic adds in Germany. Stockholm-based Scandic is expanding its presence in Germany with the opening of a hotel in Stuttgart in the fourth quarter of 2025. The company is partnering with Puteaux, France-based AXA Investment Managers for the 174-key hotel, which will undergo significant renovations, incorporating technical upgrades and sustainability improvements.

Minor to the Maldives. Minor Hotels is partnering with a private equity fund managed by Ares Management for the upcoming rebrand of the Reethi Beach Resort as the NH Collection Maldives Reethi Resort. After an extensive renovation, the 129-key property is set to reopen in the fourth quarter of 2025. The Reethi Beach Resort will remain open until April 25 and will then close for six months to undergo its transformation into an NH Collection.

Accor debuts Handwritten in Cyprus. Accor is partnering with G.A.P. Vassilopoulos Public Ltd. to debut its Handwritten Collection in Cyprus. The 54-key The Classic Hotel Handwritten Collection will be located in Nicosia and will be the 17th Handwritten Collection hotel worldwide.