Latest news: Ritz adds Nepal; Vici buys Canadian portfolio; 2nd Atwell in China

Ritz to Kathmandu. Nepal’s Chaudhary Group has partnered with Marriott International to bring The Ritz-Carlton brand to Kathmandu. CG Hospitality Global, a subsidiary of Chaudhary Group, has partnered with Rabindra Shrestha (IJ Group), Saurav Sharma (Sharma & Co), Amrit Shakya and Sanchit Shrestha in this investment. The project will feature 150 keys and branded residences, as well as a commercial complex and casino in Thamel near Durbar Marg. The project has an estimated development value of approximately Rs 1000 Crore and is targeted for completion by mid-2029. Today, CG Hospitality's portfolio boasts over 230 hotels and resorts in 12 countries and 130 destinations with over 15,000 keys.

Vici acquiring Canadian portfolio. New York City-based Vici Properties is acquiring the real estate assets of Deerfoot Inn & Casino, Great Northern Casino and two adjacent limited-service hotels in Alberta, Canada, for $144.4 million. The deal is in connection with Pure Casino Entertainment Limited Partnership’s (PURE) pending take-private acquisition of Gamehost Inc. After the transaction closes, the portfolio will be added to the existing triple-net master lease agreement between VICI Properties and PURE and annual rent will increase by $11.6 million, representing an acquisition capitalization rate of 8%. The transaction is expected to close in mid-2026. Vici plans to fund the deal with a combination of cash on hand and funds drawn under its existing multicurrency revolving credit facility.

Refi in Nashville. Atlanta-based North Point Hospitality has secured a five-year refinancing for the 506-key Marriott Nashville Tri-Brand hotel for an undisclosed amount. It is one of only two tri-brand hotels in the U.S. combining AC Hotel, Residence Inn, and SpringHill Suites under one roof. The property, located one block from Nashville's Music City Center convention facility, recently completed a $13 million expansion adding 36 rooms. JLL arranged the transaction.

IHG adds second Atwell in China. Atwell, IHG Hotels & Resorts’ lifestyle brand, is accelerating its expansion across Greater China. Following the debut of its first property in the region, Atwell Suites Shanghai Wuning, the brand is opening its second hotel, Atwell Hefei City Center. Atwell will continue to expand into key cities, including Suzhou, Nanjing and Guangzhou.

InterContinental to India. IHG Hotels & Resorts has signed a management agreement with Dubai-based Eros Group (Nehru Place Hotels Pvt Ltd) to open the 216-key InterContinental Eros New Delhi Nehru Place in India following a renovation in 2029. IHG currently operates 51 hotels across six brands in India and has a pipeline of 89 under development.

Marriott adds in Cape Verde. Marriott International is opening the 127-key Four Points by Sheraton São Vicente Resort, marking the company’s debut in Cape Verde in Africa. The hotel is Marriott’s 500th operating select-service hotel in its EMEA region and Four Points by Sheraton’s first resort offering in the region.

Wyndham adds in India. A.S. Hotels is partnering with Wyndham Hotels & Resorts to sign the 92-key Wyndham Garden Khajuraho Airport Road. The property is scheduled to open in the third quarter of 2027.

Hong Kong hotel sells. Regal REIT, a subsidiary of Hong Kong-based Regal Hotels International Holdings Ltd., Hong Kong-based Century City International Holdings Ltd. and Hong Kong-based Paliburg Holdings Ltd., has announced the sale of the 494-key Regal Oriental Hotel in Hong Kong to Hong Kong-based Blue Sky Properties Ltd. for HKD1.52 billion, according to HVS. The buyer is a subsidiary of Hong Kong-based Centaline Strategic Investments.

Melbourne hotel trades. The 155-key ibis Melbourne Glen Waverley in Australia has been acquired by Waverley RSL Sub-Branch Inc., an Australia-based veterans and community organization, from Action Hotels Group, a subsidiary of Kuwait-based Action Group Holding Co. K.S.C.C., for more than AUD30 million, according to HVS. The hotel forms part of the three-asset Action Hotel portfolio.

Hong Kong hotel trades. The 162-key Southside by Ovolo in Wong Chuk Hang, Hong Kong, has been sold to Hong Kong-based Trio Capital for approximately HKD500 million, according to HVS. Opened in 2014, the hotel is part of Marriott’s Design Hotels brand. The purchaser is understood to be a Southeast Asian consortium making its first property investment in Hong Kong.