Breaking
news about deals, development, data and more.
Avid
opens 80th hotel. avid
hotels by IHG is partnering with Westcor JD Royal Hospitality to open its 80th
property with avid hotel Coralville – Iowa City. This marks the brand’s second
property in Iowa and the fourth dual-branded avid hotels and Candlewood Suites
in the U.S., following the prototype’s launch in 2021. As IHG’s second-largest
contributor to system size, avid hotels is the company’s fastest-growing new
build brand with 131 hotels in the pipeline.
Dreamscape
adds in Wisconsin. Dallas-based Dreamscape Hospitality added the 107-key Holiday Inn Express &
Suites Milwaukee – West Allis in Wisconsin to its management portfolio.
Staypineapple
names COO. Bellvue,
Washington-based Staypineapple has promoted Bob Spear to COO. Spear was
formerly senior vice president of operations and has been with the company for
nearly five years. His career spans decades in hospitality, including 25 years
with Marriott Vacations Worldwide, and he has also worked for The VOID, a
virtual reality company.
Bellyard
secures refi in Atlanta. Atlanta-based Bellyard has secured the refinancing for a 161-room
Marriott Tribute Portfolio hotel located in Atlanta’s West Midtown district for
an undisclosed amount. The hotel opened in 2021 and is part of The Interlock, a
$450 million mixed-use-development by SJC Ventures. Patterson Real Estate
Advisory Group arranged the loan through Greenwich, Connecticut-based LoanCore
Capital on behalf of the borrower, Bellyard Partners LLC, the hotel’s ownership
entity comprising West 14th Hospitality LLC and Atlantic American Partners.
H World
debuting in Laos. Singapore-based H World Group Ltd. is debuting in the Laotian market by signing
four hotel management agreements. The new properties in Vientiane and Luang
Prabang will be developed in collaboration with three investment partners: Lao
Kunpeng Industrial Co., Ltd., Yuting Hotel Investment Management Co., Ltd., and
KP Construction Sole Co., Ltd. The hotels include the Intercity Hotel
Vientiane, which is scheduled to open in early 2026; the Intercity Hotel Luang
Prabang, which is expected to open in 2027; the JI Hotel Vientiane Mekong
Riverside, which is scheduled to open in early 2026 and the Orange Hotel
Vientiane International Airport, which is expected to open in Q3 2026. This
project represents the global debut of the Orange Hotel brand outside China.
Oasis
Tour bookings in UK. With less than a month until the band Oasis’s 2025 tour kicks off, Cardiff
shows the highest hotel booking levels at nearly 90%, according to the latest
data from CoStar. The European leg of the tour runs from early July through
mid-August. As of June 2, Cardiff reported its highest occupancy on the books
for concerts on July 4 (89.0%) and July 5 (77.8%) at Principality Stadium. At
the same time last year, Cardiff’s levels for those nights were 51.2% and
47.1%, respectively. Manchester’s highest occupancy on the books is on 19 July
(67%), while in Edinburgh and Dublin, booking levels have climbed as high as
73.6% (August 8) and 74.5% (August 16), respectively.
Scandic
adding in Sweden. Stockholm-based Scandic Hotels is partnering with Lima, Sweden-based Lima
Besparingsskog to expand its presence in Sweden with a new property in the ski
resort area of Sälen. The hotel, currently under development, will feature 120
rooms and 16 apartments, along with conference facilities.