Thompson Palm Springs guest room Latest HITs: Asford refi; Soho loan; Thompson to Palm BeachBy Jeffrey Weinstein | May 22, 2023Share The latest in M&A, development and data from around the world. Ashford refi. Ashford Hospitality Trust has refinanced its mortgage loans for the 157-room La Posada de Santa Fe in Santa Fe, New Mexico, which had a final maturity date in November 2023, and the 252-room Hilton Alexandria in Alexandria, Virginia, which had a final maturity date in June 2023. These two loans were the company's only final debt maturities in 2023. The new, non-recourse loan totals $98.5 million and has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR + 4%.Soho Miami loan. Soho Beach House, a private members club and hotel located in Miami Beach, Florida, has chosen JPMorgan Chase Bank, N.A. and Citi Real Estate Funding Inc. for a $140 million, ten year fixed-rate interest-only loan, which repaid the existing debt, repatriated equity, and covered financing and closing costs. Real estate finance and advisory services firms Walker & Dunlop brought the financing options to the table.Hyatt adds in Palm Springs. Hyatt adds to Thompson portfolio. Hyatt Hotels Corp. has announced plans for the 168-room Thompson Palm Springs in California with an opening expected in late 2023. The hotel is being developed by Dallas-based Hall Group and designed by interior design firm B2 Architecture + Design and architect SMS Architecture. Thompson Palm Springs will join 18 Thompson Hotels properties worldwide, with four additional properties expected to open by the end of 2024 in destinations like Houston, South Beach Miami, and Monterrey, Mexico, as well as the brand’s entry into Asia Pacific in Shanghai.Auberge grows in Dallas. Auberge Resorts Collection has been selected by MSD Partners, Trammell Crow Company, Highland Park Village Associates, and The Retail Connection to manage The Knox, Auberge Resorts Collection and The Knox Residences, Auberge Resorts Collection, set to open in 2026 in the heart of Dallas’ Knox Street neighborhood. The 105-room boutique hotel with 53 residences will anchor a four-acre luxury lifestyle development that includes curated retail and restaurants, design-forward luxury office and multifamily, and a new park connected to the trail. Martin Brudnizki Design Studio has been selected to lead the interior design of the hotel.Salter Brothers adds again. Australian-based global fund manager Salter Brothers Asset Management Pty Ltd. has acquired the Australia-based Escarpment Group’s collection of luxury boutique hotels and estates in the Blue Mountains and Hunter Valley regions in New South Wales for a speculated price of A$115 million. These include the 89-key Lilianfels Resort & Spa, the 84-keyThe Hydro Majestic Hotel, the 14-key Echoes Boutique Hotel, the 31-key Parklands Country Gardens & Lodges, and the 19-key The Convent Hunter Valley. This give Salter Brothers 36 properties under management.Blackstone in Japan. Blackstone Group has acquired the former 135-room Hiyori Hotel Tokyo Ginza East from Japan-based Sun Frontier Fudousan Co. Ltd. for an undisclosed price. Blackstone’s Japan portfolio is now estimated to be JPY26 billion. The hotel is in the midst of renovations and will be rebranded to ibis Styles Tokyo Ginza East in June.US forecast revision. PwC has revised its 2023 lodging forecast suggesting annual occupancy for U.S. hotels increasing to 63.4%, slightly less than in its November 2022 outlook. With slowing occupancy growth, it also now projected ADR to increase 4.1% for the year, with resultant RevPAR up 5.5% – approximately 114% of pre-pandemic levels, on a nominal dollar basis. It bases its assumptions somewhat on recent bank failures, a liquidity crisis and a slow economy. With flattening occupancy levels in 2024, growth is expected to come almost entirely from ADR, with an expected year-over-year increase in RevPAR of 3.5% – approximately 118% of pre-pandemic levels.Mexican brand to KSA. The Royal Commission for AlUla (RCU) will develop a new resort within the Journey Through Time (JTT) masterplan, designed in harmony with the natural environment and aligned with the Sustainability Charter for AlUla, Saudi Green Initiative, and Vision 2030. Operated by Mexican luxury brand AZULIK and designed by Roth Architecture, the AZULIK AlUla Resort eco-luxury property in the Nabatean Horizon District of the JTT masterplan is slated to launch in 2027. The resort will feature 76 luxury villas of six different varieties.Fairmont's fifth in UK. Fairmont Hotels & Resorts continues to expand its luxury brand in the UK with the addition of a fifth Fairmont property, in partnership with Dubai-based real estate development and investment company Select Group. Located near Knutsford in Cheshire and overlooking Lake The Mere, The Fairmont Cheshire The Mere offers 81 rooms as well as an 18-hole championship golf course and wellness facilities. It is Accor's fifth Fairmont hotel in the UK and Ireland. After a period of restoration and expansion, it will reopen in 2024 with 120 rooms including 27 suites, while retaining its golf course and expanding its wellness and culinary offerings.