Latest HITs: Banyan Investment rebrands; Nammos launches; CDL's Brisbane buy

Investment firm rebrands. Banyan Investment Group, Atlanta, is rebranding as Satori Collective, an investment management firm focusing primarily on hotel property investment.  Additionally, the company has spun off its property management platform to become Aperture Hotels, an independent, third-party hotel management company.  Moving forward, Satori and Aperture will work independently of one another. “Satori is a Buddhist term meaning ‘awakening and deep understanding,’ which is how our team approaches commercial real estate investment,” said Andy Chopra, co-founder and managing partner, Satori. Satori focuses on investment into select-service, upper select-service extended-stay and lifestyle hotel properties.  The company concentrates on investment in growth corridors located in top MSAs across the United States which have established hotel demand generators. Since its original founding 14 years ago, the company has made 24 hotel investments utilizing four investment vehicles totaling $477 million in assets under management.

Hyatt in Tokyo selling. PE firm Kohlberg Kravis Roberts & Co. L.P. is set to acquire the 746-room Hyatt Regency Tokyo from Japan-based Odakyu Electric Railway Co. for an undisclosed sum. The railway operator is expected to record a gain of about JPY50 billion post sale.

CDL's big buy in Brisbane. Singapore-based City Developments Ltd. has agreed to acquire the 416-room Sofitel Brisbane Central Hotel for AU$178 million from Canada-based Brookfield Corp. This marks the largest single asset hotel transaction in Brisbane.

Radisson sells in Madrid. Monthisa, a business group owned by the Montoro Zulueta family, has sold the 58-room Radisson Blu Hotel in Madrid to a family office for e26 million (almost e450,000 per room). The hotel was refurbished in 2020 and Radisson will continue to manage the hotel.

Colee takes helm at Noble Hotels. Jamie Colee has been promoted to CEO at Noble House Hotels and Resorts following the retirement of current CEO Jake Donoghue. Previously serving as President of Development, Colee began his Noble House career in 1993. As CEO, Colee will lead the executive team's efforts to set the brand's vision, reinforce company culture, drive profitability, manage organizational structure, and ensure the mission of Noble House is executed to the highest standards.

Travelodge aims for 300 more. U.K.-based Travelodge is writing to 220 local authorities across Britain proposing a joint development partnership with an aim to add 300 hotels to its network. The company said the expansion program could represent an investment of around £3 billion for third-party investors and create more than 9,000 jobs across the U.K.

Nammos brand launched. Known for its culinary expertise and daytime experiences, a joint venture between Alpha Dhabi and Monterock International is launching Nammos Hotel and Resort with properties in Mykonos, Maldives and Abu Dhabi. The Mykonos project will open this summer on Psarou beach. The pivot into hotels and resorts marks an ambitious and scalable plan from Alpha Dhabi and Monterock International to extend Nammos World’s reach and global footprint.

Meliá to Montenegro. Meliá Hotels International has announced the development of the Meliá Bečići Budva on the coast of Montenegro. Located in one of the areas with the highest growth in tourism in the country, the 294-suite hotel, of which 140 will be apartments measuring up to 118 m2, is expected to open in 2025.

Peachtree likes EB-5. With a plan to access low-cost capital, diversify its funding sources and invest in job-creating projects, Peachtree Group has appointed Adam Greene as executive vice president of the company's newly launched EB-5 program. Greene has managed over $600 million of EB-5 investments during his career. The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the U.S.