Latest news: Accor growth in Asia; Hyatt's new brand; Queens hotel sells

Accor adding across Asia Pacific. Accor said it is opening 22 hotels and 6,000 rooms in Japan, doubling its footprint there. The hotels comprise of 12 Grand Mercure and 10 Mercure hotels and will open in locations across the country. Accor also announced six more signings across Asia: the 200-key Pullman Living Bangkok Sukhumvit 16 and 225-key Pullman Residences Bangkok Sukhumvit 16 in Thailand, which are scheduled to open in 2027; the 80-key Novotel Living Bangkok Don Muang (with 112 serviced apartments) in Bangkok, which is scheduled to open in 2026; the 285-key Novotel Tangerang BSD City; the ibis Styles Ambassador Jeonju City Center in South Korea which is undergoing a refurbishment and is scheduled to open later this year; the 200-key Pullman Mactan Cebu Hotel & Residences in the Philippines will also have 900 branded residences will be the world’s largest Pullman property and is scheduled to open in 2028; and the 433-key Mövenpick Vung Tau in Vietnam which is scheduled to open in 2027.

Hyatt launches adults-only brand in Cancun. Hyatt Hotels Corp. launched its adults-only Hyatt Vivid brand by opening the 400-key Hyatt Vivid Grand Island in Cancun, Mexico, developed by London-based Murano Global Investments. The resort will be part of Hyatt’s Inclusive Connection. The property is adjacent to the Dreams Grand Island, which will open later this year. The 350-room Dreams Estrella Del Mar Mazatlan also opens later this year in Mexico. 

McSam sells Queens hotel. Great Neck, New York-based McSam Hotel Group sold a newly built 142-key hotel in Queens for $40 million to an LLC connected to Letap Group principal Jasmin Patel, according to a report in the Commercial Observer. The sale continues McSam's Sam Chang's trend of divesting his hotel properties, including over $200 million in Midtown Manhattan and a $160 million deal with Magna Hospitality Group.

Virk acquires in Seattle. Wilsonville, Oregon-based Virk Hospitality has acquired the 150-key Hilton Garden Inn Seattle Renton for $18 million from a subsidiary of Blackstone, according to the Puget Sound Business Journal. Blackstone acquired the property in 2013 as part of a $1.2 billion purchase of a portfolio from Apple Hospitality REIT. Apple originally purchased the property in 2005 for $8 million.

Arkansas hotel sells. Continental Capital and DM Hotels have sold the Avid Hotel in Bentonville, Arkansas, to investor Manuj Jain, the president of SC Petroleum, for $11.5 million. The 87-key hotel was built in 2021.

Valencia refinances Texas hotel. Houston-based Valencia Hotel Group has arranged $19.5 million of first mortgage debt to refinance the Texican Court hotel in Irving, Texas. Los Angeles-based Sonnenblick-Eichner Co. arranged the financing, a non-recourse five-year, fixed-rate loan that is interest-only for the entire term at an interest rate of 7.74%, including a buydown of the rate required by the lender. The 152-key upscale boutique hotel was built in 2019.

New hotel near Tottenham stadium. The Tottenham Hotspur English Premier League club has received planning approval for a new hotel to be built south of the Tottenham Hotspur Stadium. The 30-story, 180-key hotel will also have 49 residential apartments. It is expected to be built in time for the European Championship in 2028.

Radisson adds in Laos. The Radisson Hotel Group has signed its first hotel in Vientiane, the capital of Laos. The 145-key Radisson Red Vientiane is in partnership with La Vie Hotels & Resorts and is scheduled to open in the fourth quarter of 2024.

Aimbridge EMEA adds in the UK. Aimbridge EMEA will now manage the Twickenham Stadium Hotel in the U.K. Aimbridge EMEA will oversee a major refurbishment of the property, which will remain operational as it rebrands to a Radisson Red hotel.