Latest HITs: KSL dealing; Hyatt growth; Procaccianti deal

Cheval Blanc development stopped. LVMH will not build a Cheval Blanc hotel at the north end of Rodeo Drive in Beverly Hills, California, after local residents by a narrow margin voted against a zoning amendment for the project. Union organizers reportedly help sway the vote suggesting the hotel would impact the availability of affordable housing in the area. LVMH has spent nearly three years planning the nine-story project that was to replace at least four buildings at the intersection of Rodeo, Santa Monica Boulevard, and North Beverly Drive.

KSL selling Village Hotels? KSL Capital Partners is reportedly considering selling its Village Hotels portfolio in the U.K. Village Hotels comprises 33 properties from Aberdeen to Bournemouth, with rooms available at budget prices. Founded in 1995 as Village Urban Resorts, the hotels feature pub-style restaurants and gyms. KSL was reported to have paid £485m for the business when it bought it in 2014 from De Vere Group.

Procaccianti partners in Savannah. Procaccianti Companies has acquired the Presidents’ Quarters and development of the Sabal House Savannah in Georgia. The project is a joint venture with Kim King Associates and Ross Hotel Partners. When complete in 2025, the 62-room upscale boutique hotel will comprise 20 oversized luxury rooms and suites from the 150-year-old Historic Presidents’ Quarters combined with 42 rooms from a new construction modernized building connected through an outside courtyard linking the two properties.

My Place, Rimrock deal. Extended-stay player My Place Hotels of America has entered into a two-phase franchise and development agreement with Rimrock Companies, a privately held real estate development and investment company headquartered in Jacksonville, Florida, for 10 hotels throughout the South over the next six years. The properties will be in Tennessee, South Carolina, and Georgia. Some of the properties are already under development. All 10 are expected to be completed by 2029. Nearly 70 My Place Hotels are open across 29 states with more than 130 hotels in the pipeline.

Union Investment adds in Germany. Union Investment has acquired the main Grand Palais building of the 125-room Steigenberger Grandhotel & Spa hotel complex in Seebad Heringsdorf in Germany on the island of Usedom in the Baltic Sea. Another 10 rooms are set to be added by 2025. The buildings Palais Wilhelm and Palais Bismarck stay in property of the seller. The acquisition is being made for open-ended real estate fund immofonds 1, which is marketed solely in Austria. The vendor and lessee is Resort Hotel Kaiserbad GmbH & Co. KG. The purchase price was not disclosed.

NewcrestImage, Coury deal. NewcrestImage has entered into a strategic partnership with Coury Hospitality, Dallas, to take a 50% ownership stake and pursue lifestyle hotel development. NewcrestImage presently holds ownership of around 70 hotels across 26 states, while Coury Hospitality operates 12 lifestyle hotels in six states, featuring 10 properties from Marriott's Autograph Collection, with another three properties currently under development. Both companies foresee a chance to boost their competitive stance and secure significant expansion in the lifestyle and luxury sector from their partnership, according to reports.

Hyatt grows all-inclusive. Hyatt Hotels Corp. is planning the 509-room Secrets Playa Blanca Costa Mujeres, which is expected to open later this year, further expanding the Inclusive Collection in Mexico. Slated to open by the end of 2023, the hotel will be located along a secluded strip of the Costa Mujeres shoreline, just 12 miles north of Cancun.

B&B's new CEO. B&B Hotels, with nearly 700 hotels in 16 countries, has appointed Patrick O’Connell as the new CEO of its UK operations as the European chain progresses in its growth ambitions to open 100 new hotels in the UK by 2035. O’Connell brings over 30 years' experience in the hospitality industry, covering operations, major investment programs, hotel openings and acquisitions. He has held senior management positions in the UK and Ireland with Doyle Collection, Mint Hotels and Hilton. Most recently, he was head of hotels at Queensgate Investments.

Kimpton grows in Spain. IHG Hotels & Resorts has signed a management contract with Monterotel SL, owned by the JV of Bain Capital and Stoneweg, for the 178-hotel Kimpton Los Monteros Marbella in Spain. It marks the third Spanish signing for the luxury and lifestyle brand, following Kimpton Vividora Barcelona and Kimpton Aysla Mallorca. Before opening its doors, the property will undergo a full refurbishment to transform it from the former The Hotel Los Monteros – Spa & Golf Resort Marbella which has been closed since late 2022. IHG currently has 46 operating hotels under eight brands in Spain.

Hyatt franchises in Cairo. Affiliates of Hyatt Hotels Corp. and ALDAU Development have entered into a franchise agreement to bring the full-service lifestyle brand, Hyatt Centric, to Egypt, with Hyatt Centric Cairo West. The 283-key hotel will become the second Hyatt-branded hotel in Cairo’s well-established Pyramids Heights Business Park, following the opening of Hyatt Regency Cairo West 2021,