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news about deals, development, data and more.
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.