Latest news: Baccarat grows in UAE; Blackstone $3B Vegas loan; $23M Miami refi

Baccarat Residences in UAE. Abu Dhabi-based Aldar is launching the Baccarat Residences Saadiyat in the Saadiyat Cultural District in Abu Dhabi. The Baccarat Residences Saadiyat will have 77 homes, including two- and three-bedroom residences, four-bedroom sky villas, and two penthouses. The completion date has not been announced yet. Baccarat Hotels & Residences was launched by Starwood Hotels in 2015 in New York and has projects under development in Miami; Rome and Florence, Italy; Dubai; Riyadh, Saudi Arabia; and the Maldives.

Blackstone $3B refinance. An affiliate of Blackstone and New York City-based Stonepeak Partners have secured a $3.05 billion CMBS refinance for The Cosmopolitan Las Vegas Resort & Casino, according to multiple reports. The sponsors secured a two-year, floating-rate, interest-only loan with three one-year extension options. The loan will pay off $3.025 billion in debt, pay an estimated $25 million in closing costs and is scheduled to close on February 20. MGM Resorts International operates The Cosmopolitan under a 30-year, triple-net lease.

$23M refi in Miami. Coral Gables, Florida-based MG Developer has secured a $23 million refinance for the 176-key Regency Miami Airport Hotel by Sonesta through New York–based Interaudi Bank. The refinance will give MG Developer additional flexibility to advance future development plans on the property’s excess land. The completion of the nearby Miami Freedom Park, a 131-acre mixed-use development for sports, culture, business and nature, will elevate the airport submarket, according to a news release. The hotel was originally built in 1982.

Aimbridge adds 2 in CALA. Aimbridge Hospitality is adding two properties to its all-inclusive division with the Wyndham Alltra Samaná and Wyndham Alltra Punta Cana in the Dominican Republic. The 404-key Wyndham Alltra Samana is located on the shores of the Samaná Peninsula while the recently renovated 620-key Wyndham Alltra Punta Cana can accommodate large groups and features the Caribbean’s longest pool at 1,600 meters. 

Dreamscape adds 2 in Wisconsin. Dallas-based Dreamscape Hospitality has added the Holiday Inn Stevens Point Convention Center and Holiday Inn Express & Suites Stevens Point in Wisconsin to its management portfolio. The two properties total 215 rooms.

Marriott's growth in Greater China. Marriott International said it has accelerated its expansion in Greater China in 2025 and signed over 200 deals throughout the year, representing 25% year-over-year growth in signings. The company added more than 36,000 rooms to the region’s pipeline in 2025. Marriott reinforced its luxury and premium segments in the region with signings that include anticipated openings in Guangzhou (with the planned debut of The St. Regis), Shenzhen (with the expected opening of the second Ritz-Carlton), and Nanjing (with the anticipated debut of JW Marriott). Openings also included the regional debut of the Apartments by Marriott Bonvoy brand. Marriott’s volume of signed deals in select-service brands like Fairfield by Marriott, Four Points by Sheraton, AC Hotels and Moxy increased by 40% compared to 2024.

H World adds economy brand. China-based H World Group Ltd. has launched Hanting Inn, a new economy hotel brand, which is an extension of the Hanting brand family. The conversion-friendly brand is designed with a lower investment threshold, simplified construction standards and greater flexibility in location and property type.

Swiss-Belhotel adds 2 in Indonesia. Swiss-Belhotel International is expanding its presence in Indonesia’s island tourism sector with the signing of two new resort management agreements in Batam, with the addition of Māua Kapal Kecil by Swiss-Belhotel and Villa Riahi by Swiss-Belhotel, two luxury resort projects.

APEC pipeline at record high. The hotel construction pipeline for Asia Pacific, excluding China, reached a record-high project count at the end of the fourth quarter, according Lodging Econometrics data. The pipeline had 2,323 projects and 433,241, which is a record high for projects (up 11% year-over-year) to reach and up 5% by rooms YOY. Projects under construction accounted for 38% of the total pipeline with 890 projects and 44% of the rooms in the pipeline with 189,271 rooms. Projects scheduled to start in the next 12 months increased 8% by projects and 15% by rooms YOY, to 398 projects and 77,767 rooms. Luxury projects reached record-high counts, up 14% YOY, to close the quarter at 398 projects and 75,190 rooms, and upper upscale projects hit record highs in both projects and rooms, increasing 17% by projects and 13% by rooms YOY to stand at 422 projects and 88,958 rooms. The top country is India, with record highs of 906 projects and 118,334 rooms, up 31% by projects and 35% by rooms YOY.