Latest HITs: Waldorf coming to India; Kissimmee Holiday Inn refi; Forte grows in Italy

Waldorf to India. Hilton and Dangayach Group have signed a management agreement for the Waldorf Astoria Jaipur, scheduled to open in 2027 and marking the debut of the brand in India. The luxury property will have 51 pool villas and 174 guest rooms. Waldorf Astoria Jaipur will join Hilton’s existing portfolio of 24 operating and 13 pipeline hotels and resorts across India.

IHG grows in Turkey. IHG Hotels & Resorts has signed a deal for its InterContinental Hotels & Resorts brand in Bursa, Turkey. The 231-key InterContinental is being developed in partnership with real estate company Atis Yapi. The property is expected to open in late 2024 and will include 850 residential living spaces, 112 branded residences and a 75,000 square meter shopping, living, entertainment and medical center, plus a local museum and playgrounds.

New CFO at Accor. Accor has named Martine Gerow as Group Chief Finance Officer and will assume this role from July 1, 2023. She will also become a member of the Management board, reporting directly to Group Chairman Sebastien Bazin. Gerow will lead the group’s corporate financial function and manage relations with the market regulatory authorities and financial community. She replaces Jean-Jacques Morin, former group deputy CEO and CFO and now Premium, Midscale and Economy Division CEO. Gerow joined the travel industry in 2014, first as CFO of Carlson Wagon Lit Travel, and, since 2017, as CFO of American Express Global Business Travel, based in London.

Holidays impact US data. Affected by both the Easter and Passover calendar shift, U.S. hotel performance reflected lower year-over-year comparisons from the previous week, according to STR’s latest data for April 2-8. Occupancy: 61.3% (-7.4%); ADR: US$153.30 (+0.8%); RevPAR: US$94.00 (-6.7%). Among the Top 25 markets, New York City saw the highest year-over-year increases in occupancy (+6.3% to 82.2%) and RevPAR (+19.4% to US$232.80). Houston showed the most substantial ADR growth year over year (+15.5% to US$119.91). The steepest RevPAR declines were seen in New Orleans (-45.2% to US$99.34) and Las Vegas (-28.3% to US$113.67).

Forte growth in Italy. Rocco Forte Hotels will take over management of a new luxury resort in Porto Cervo, Costa Smeralda, Italy for Eidos Hotel Capital Partners, who is acting as an operating partner and asset manager for Sixth Street, the London-based investment firm that acquired the former Hotel Le Palme in January 2022. The new hotel will feature 64 rooms and suites and is set to open in 2024. Rocco Forte Hotels will also open the Rocco Forte House next year in Milan.

Kissimmee HI refi. Berkadia has arranged the refinancing of Holiday Inn & Suites Orlando SW – Celebration Area, a 444-key, full-service hotel in Kissimmee, Florida, for owner Palm Holdings, a hotel management and development company based in Toronto with 20 hotels and 3,200 keys. Palm Holdings purchased the property in 2017. One Florida bank provided the five-year term loan. “The Orlando hospitality market’s strong recovery, showing RevPAR metrics well in excess of 2019 numbers, was a key consideration in capturing lender interest,” said Michael Weinberg, managing director, Berkadia Hotels & Hospitality.

Anantara to India. Minor Hotels, Bangkok, has announced it will debut the new-build, 150-room Anantara Jaipur Hotel in India in Q4 2023. It marks the luxury brand’s first hotel in the country and this property is owned by Ajay Gangwal.

Radisson Collection to Hyderabad. Radisson Hotel Group will debut its luxury lifestyle brand, Radisson Collection, in India with the signing of the first hotel in Hyderabad with local developer Lansum Properties. The 300-room hotel is close to the city’s financial district and will be operational by Q2 2026.

Mantis to Madagascar. Accor plans to open Mantis Soanambo Hotel & Spa on Nosy Boraha (Ile Sainte-Marie) in Madagascar. The Mantis Collection, part of Accor, is a conservation-led brand committed to preserving its surrounding communities, wildlife and the environment. The 48-room oceanfront hotel plans to re-open to guests in May 2023, flying the Mantis flag.