The latest on development, M&A, relevant data and more.
New Yorker sold. PE firm Yellowstone Real Estate Investments
has reportedly acquired the $106 million debt and ownership of the New Yorker
Hotel in New York City.
Indigo grows in Europe. IHG Hotels & Resorts reported
that it is adding six Hotel Indigo properties in Europe. Opening this fall is
the Hotel Indigo Bordeaux in France. In addition, Hotel Indigo
Trieste – Palazzo Kalister in Italy, Hotel Indigo Florence and Hotel
Indigo Turin in Italy, Hotel Indigo Jerez in Spain,
and Hotel Indigo Faro in Portugal have been signed. The Hotel Indigo
brand has 145 open hotels and 128-strong pipeline globally. Recent and upcoming
openings include Exeter, Panama City Marina, Brisbane City Centre, Tokyo
Shibuya and Guadalajara Expo.
Host update on Maui. Host Hotels & Resorts, the largest
hotel real estate owner on Maui, stated there has not been any reported
property damage to the company's hotels or golf courses on the Hawaiian island
and all its hotels remained open and operational through the wildfires. The
Hyatt Regency Maui Resort and Spa remains open to first responders and expects
to begin welcoming guests back in mid-October. Host estimates that income and
hotel EBITDA from its three Maui hotels was impacted by approximately $5
million in the month of August. The company’s risk management team is engaged
with its insurers about potential business interruption coverage, and it does
not expect a delay in the completion of the comprehensive renovation currently
underway at the Fairmont Kea Lani, which remains on track to be completed in
the fourth quarter of 2023.
Hilton-Tesla deal. Hilton has expanded its agreement with
Tesla to install 20,000 Tesla Universal Wall Connectors in the U.S., Canada and
Mexico beginning in early 2024. At least six chargers per property are slated
to be installed across 2,000 Hilton hotels.
Aparthotel brand grows in France. NUMA Group, a European
operator of digitized boutique apartments and technology developer, announced its
first NUMA property in Paris, making it active in 10 European countries and 27
major European cities with more than 4,500 units. The former Paris hotel, which
has 40 units and 78 beds, is situated between the Canal Saint-Martin and the
Parc des Buttes Chaumont and is due to reopen its doors in the summer of 2024.
The hotel is being updated to include NUMA’s proprietary technologies, which
allow guests to check in, check out, open their room doors and communicate with
NUMA guest services, all with their smartphones. NUMA states its solutions reduce
operating costs by up to 60%. Leadership said that In the long term, NUMA plans
to be present in 12 French cities and is actively looking at suitable
properties in prime locations in Bordeaux, Cannes, Lille, Marseille and Nice,
for example.
Absolute, Artotel align. Absolute Hotel Services, Bangkok,
and Indonesia-based management company Artotel Group has established a strategic
alliance to collaborate on expansion into new markets. Under this partnership,
Absolute Hotel Services is set to introduce its U Hotels & Resorts, Eastin
Hotels, and Eastin Grand Hotels brands to multiple destinations across
Indonesia. Simultaneously, Artotel Group will extend its international presence
by introducing Otelart properties into Thailand and Laos under a license
agreement with Absolute Hotel Services. No further details on the collaboration
were released.