Latest news: McKibbon buys in Tampa; sale in Georgia; Valencia adds in Texas

McKibbon acquires in Tampa. McKibbon Equities acquired the 149-key SpringHill Suites Tampa Westshore Airport in Florida from an undisclosed seller for an undisclosed amount. This is the company’s fourth and final acquisition for McKibbon Income Fund I. The $42 million fund was fully deployed in less than two years from its initial close. McKibbon Hospitality will operate the property, which is the company’s 14th managed hotel in the Tampa area.

Georgia hotel sells. HP Athens, LLC, advised by Horwath HTL and Southern Hospitality Group, the hotel’s part-owner and operator, sold the 190-key Hyatt Place Athens Downtown in Athens, Georgia, to a local investor on August 20 for an undisclosed amount. The buyer has selected Pyramid Global Hospitality to manage the hotel. Hunter Hotel Advisors facilitated the transaction.

Valencia adding in Texas. Houston-based Valencia Hotel Group is developing a new Blackstone hotel in Tyler, Texas. The 140-key hotel will be built near the site of the original Blackstone Hotel, which opened in 1922. The hotel was eventually closed and demolished in 1985. The $47.7 million project will include 5,700 sq. ft. of meeting space and is scheduled to open by January 1, 2028.

Fairfax adds in Mississippi. Fairfax, Virginia-based Crescent Hotels & Resorts has added the Westin Jackson in Mississippi to its management portfolio. The hotel was built and opened in 2017. Crescent has more than 120 properties in the U.S. and Canada.

US hotels down last week. The U.S. hotel industry from August 17-23 reported unfavorable year-over-year comparisons, according to CoStar data. Occupancy was 65.4% (-1.1% YOY); ADR $155.09 (-0.2% YOY) and RevPAR was $101.38 (-1.3% YOY). Among the top 25 markets, Houston recorded the steepest declines in occupancy (-29.3% to 53.7%) and RevPAR (-38.1% to $58.43). The decreases are primarily due to the elevated displacement demand period that followed Hurricane Beryl in 2024. Chicago reported the most significant drop in ADR (-22.3% to $167.40) and the second-steepest decrease in RevPAR (-19.9% to $125.14), compared to the Democratic National Convention in 2024.

Atrium rebrands in Connecticut. Alpharetta, Georgia-based Atrium Hospitality is rebranding the 484-key Hilton Stamford Hotel & Executive Meeting Center in Connecticut to the DoubleTree by Hilton Stamford. The hotel will begin a guest room refresh later this year.

IHG debuts Atwell in China. IHG Hotels & Resorts is debuting its new lifestyle brand, Atwell, in Greater China, with the official opening of its first property in Shanghai. The 174-key Atwell Suites Shanghai Wuning is part of the brand’s strategic expansion in China.

Marriott debuting Ritz in Fiji. Marriott International has signed an agreement with Luxurious Resort (Fiji) Pte Ltd. to open The Ritz-Carlton Fiji, Namuka Bay, marking the brand’s debut in Fiji. The 249-key new-build luxury resort is scheduled to open in 2030, marking the company’s expansion of its Fiji portfolio into the Coral Coast.

Oyo planning November IPO. Oyo plans to file its Draft Red Herring Prospectus in November for an IPO targeting a valuation of $7 to $ 8 billion. The company will present the proposal to its board next week, according to multiple reports. In May, OYO delayed its third IPO attempt due to opposition from its largest shareholder, SoftBank, as well as market volatility. Oyo Hotels has hundreds of locations in the U.S. and also owns G6 Hospitality, the parent company of Motel 6 and Studio 6.

Resort World adding in Singapore. Resort World Sentosa is partnering with Marriott for a new luxury hotel on Sentosa Island in Singapore. The 183-key The Laurus, named after laurel leaves historically used to crown victors and honor achievements, is scheduled to open at the end of the year.

Wyndham adds on the Yucatan Coast. Wyndham Hotels & Resorts is partnering with Mayakuná Luxury Groupto build the Sisal Kokai Puerto and Telchac Kokai resorts on the Yucatan Coast in Mexico. The resorts are scheduled to open in 2029.

IHG adds in India. IHG Hotels & Resorts has signed a management agreement with Mumbai, India-based Dutta Buildcon Pvt. Ltd. to develop the Holiday Inn Express & Suites Gwalior, marking the brand’s debut in the city of Gwalior. The new-build, 140-key hotel is scheduled to open in early 2029. IHG currently has 51 hotels operating across six brands in India, with a pipeline of 72 hotels due to open in the next three to five years.

Samhi adding in Hyderabad. Gurgaon, India-based Samhi Hotels Ltd. has signed a lease for a 260-key mid-scale hotel in Hyderabad’s Financial District. The hotel will be developed as part of a mixed-use project, with Samhi’s estimated development cost ranging from ₹12.5 crore to ₹14.3 crore. This will be Samhi’s third hotel in Hyderabad’s Financial District.