Breaking news about deals, development, data and more.
Accor’s first Orient Express hotel. Accor has announced the
opening of its first Orient Express hotel in Rome. Orient Express La Minerva is
in the heart of the city steps from the Pantheon with 93 rooms and 36 suites. This
debut follows the recent launch of La Dolce Vita Orient Express trains and
anticipates the opening of Orient Express Palazzo Donà Giovannelli in Venice
later this year – in partnership with Arsenale Group. The Rome hotel will have
three dining venues, including a rooftop space that opens in May, and five event
venues. Gilda Perez-Alvarado, CEO Orient Express, said, “Opening the doors of
Orient Express La Minerva marks a powerful moment in our journey… In
partnership with Arsenale Group and through the visionary work of
artist-architect Hugo Toro, we have the privilege to breathe new life into a
heritage property deeply rooted in the fabric of this timeless city.”
Lender takes Oakland hotel. A dual-branded Residence Inn and
AC Hotel by Marriott in downtown Oakland has reportedly been seized by the
property’s lender because of a delinquent loan. Cook Children’s Health Care
Services is now the owner of the 276 rooms following a deed in lieu of
foreclosure on the remaining $117.1 million debt, documents filed on March 28
with the Alameda County Recorder’s Office show. Beverly Hills-based real estate
firm Hawkins Way Capital, acting through an affiliate, originally paid $30.8
million to buy the property where the hotel would be built. The firm then
developed the hotel, financed by a $112 million loan that a unit of Goldman
Sachs Group provided in 2019. In 2023, the Goldman Sachs subsidiary transferred
the loan to Texas-based Cook Children’s Health Care System, a nonprofit whose
operations include a children’s hospital in Fort Worth, Texas.
Alpina Gstaad sells. An American investor who is a regular
client of The Alpina Gstaad, Switzerland, has reportedly acquired the 56-room
luxury hotel from local real estate investor Marcel Bach and French billionaire
Jean-Claude Mimran for a reported CHF 200 million (CHF 3.6 million per room),
which is equivalent to approximately €210 million (€3.75 million per room),
according to an HVS report. The Alpina Gstaad opened in 2012 as part of a €315
million luxury development that included three chalets and 11 apartments.
IHG’s Garner to India. IHG Hotels & Resorts has signed two
Garner hotels – 40 keys in Etawah in Uttar Pradesh and 45 keys in Kathua in
Jammu & Kashmir. Garner Etawah, scheduled to open next year, and Garner
Kathua, set for 2027, will be developed in partnership with Madan
Infradevelopers Pvt Ltd and Rudraksh Nakshatra Hotel Pvt Ltd,
respectively. Both properties will be managed by Rosastays (Rosaoul Hotelco Pvt
Ltd), one of the preferred third-party management companies for Garner Hotels
in India. IHG currently has 47 hotels operating across five brands in India.
New extended-stay data. Room revenue from guests staying seven
consecutive nights or longer was $8.9 billion at traditional hotels compared to
$7.5 billion at extended-stay hotels in 2024, according to Highland Group data.
Corresponding room nights accommodated were 69.5 million and 72.4 million.
Nationally, the share of extended-stay demand in extended-stay hotels is 50%; in
traditional hotels it is 12% but there are 10 times as many rooms compared to
extended-stay hotels. “The 6.5 million room night increase in extended-stay
demand at traditional hotels over the last 5 years despite extended-stay supply
gaining 83,000 rooms shows substantial unmet demand for extended-stay hotels
still remains,” said The Highland Group’s Mark Skinner.
Floating hotel in Wales. Meyer Floating Solutions and
Morfield Floating Hotels have unveiled plans to bring a floating hotel to
Cardiff Bay in Wales. Developed in collaboration with Spicer Architects, the
120-room, non-self-propelled floating hotel will be fully manufactured with
modular construction and pre-commissioned offsite. Once delivered to its
dedicated berth in Roath Basin, no conventional construction site will be required.
The project is currently progressing through the planning and consultation
phase in collaboration with Cardiff City Council, Associated British Ports, and
local stakeholders. A public consultation will help refine the final design and
ensure it aligns with Cardiff’s long-term waterfront development goals. The
project timeline includes 2027 for delivery, installation and opening.