Latest news: Deitemeyer to Rockbridge; Hyatt’s Destination adds Mississippi; HQ coming to South America

Deitemeyer joins Rockbridge. Mike Deitemeyer, most recently CEO of Aimbridge Hospitality, has joined the executive team at vertically integrated investment firm Rockbridge in Columbus, Ohio, serving in several leadership roles as it looks to scale and grow the platform overall, specifically in the luxury and lifestyle segment. He will be executive vice president of Rockbridge Holdings, president of its development company, and lead strategic affiliates beginning with their newest acquisition, ZaZa Hotels and Resorts.

Hyatt adds first Destination in Mississippi. Hyatt Hotels Corp. and McComb, Mississippi-based Scenic Rivers Development Alliance are partnering for the 200-key Okhissa Lake Lodge as the first Destination by Hyatt brand hotel in Mississippi. The hotel is scheduled to open in 2027 and is set in southwest Mississippi near Jackson. The property also has a 1,000-person conference center.

HQ adds first South American property. Miami-based HQ Hotels & Residences, spearheaded by sbe Founder Sam Nazarian through a strategic alliance with Wyndham Hotels & Resorts, has signed a letter of intent for its first property in South America. Located in São Paulo, Brazil, the 100-key HQ Hotel São Paulo is scheduled to open in 2028. The hotel will be built by INC Urban Developers, a real estate development initiative by co-founders Elcio Filho, Philipe Pinheiro, Filipe Lourenço and Gabriella Gama and co-founder Franco Frugiuele, with development consultant Mariana Heath Imbach, managing partner at Cleaver Hope LDA. HQ Hotels plans to open 50 hotels globally by 2031, 50% of which will be in the U.S.

KSL affiliate $113M refi in Indianapolis. An affiliate of Denver-based KSL Capital Partners has secured a $113 million refinance for the 575-key Westin Indianapolis in Indiana. Barings funded the mezzanine component of the loan, while affiliates funded the senior mortgage component. An affiliate of KSL has owned the property since 2019. Eastdil Secured advised the sponsorship of the financing.

Coury adds 9 hotels and appoints a COO. Dallas-based Coury Holdings has added to its West Coast portfolio by adding nine hotels in California to its management portfolio for Coury and Concert Hospitality. The company is adding hotels in San Diego and Palm Springs to its Concert portfolio and hotels in Sunnyvale and Palo Alto to its Coury portfolio. Coury also announced the appointment of Bo Patel as COO. With more than two decades of experience in hospitality management, development, and investment, Patel will lead West Coast growth and operations for Coury’s West Coast assets, focusing on the Concert Hospitality division.

AHIP refinances five hotels. Vancouver-based American Hotel Income Properties REIT LP (AHIP) has completed a CMSB refinancing for five hotel properties with total gross proceeds of $43 million and the repayment of $38.4 million to the term loans comprising part of AHIP’s senior credit facility. Four of the five hotel properties secured by the CMBS loan were previously secured under the senior credit facility. The fifth hotel property was unencumbered before the completion of this loan. The aggregate balance of the revolving credit facility and term loans under the senior credit facility has now been reduced to $89.3 million. The total appraised value of the remaining 12 hotel properties secured under the senior credit facility is $182.2 million, which results in a current loan-to-value ratio of 49.0%. The current maximum borrowing availability under the revolving credit facility and term loans is $104.3 million.

AVANA, IHG’s new construction lending program. Glendale, Arizona-based AVANA Companies, a direct lender specializing in commercial loans, is launching a new co-lending construction program with IHG Hotels & Resorts to accelerate U.S. hotel development within the IHG brand family. Hotel owners and developers seeking to build or convert properties under select IHG brands can apply for these loans. The program offers a borrower-friendly alternative to standard financing through a competitively priced blended rate. AVANA and IHG will commit $250 million in construction loans for U.S.-based projects primarily across the EVEN Hotels, avid hotels, Atwell Suites and Holiday Inn brands. The co-lending program aims to reduce development timelines and supports IHG’s U.S. pipeline, which accounts for nearly 950 hotels and represents nearly half of its overall global pipeline. In Q3 2024 alone, IHG signed 54 new U.S. hotels across its Essentials and Suites brands.

Trestle loan to renovate San Antonio hotel. Chicago-based Trestle Studio has secured a $79 million construction loan for El Tropico Hotel on the River Walk in San Antonio, Texas. IPA Capital Markets, a division of Marcus & Millichap, secured the financing and Fortress Investment Group provided the funding. Originally constructed in 1962, the property was acquired by Trestle Studio in December 2023. Following the renovation, El Tropicano is slated to be a modern urban resort with 315 rooms, an 8,065-square-foot pool deck—the largest in San Antonio — over 16,000 square feet of event space and signature food and beverage outlets.

AvantStay opening first hotel. Culver City, California-based AvantStay is entering the hotel industry with the forthcoming opening of The Gilmore, an AvantStay Hotel in Nashville. The 99-key hotel is scheduled to open in April 2025.

Meyer Jabara adds in Maryland. Danbury, Connecticut-based Meyer Jabara Hotels has assumed management of the Merriweather Lakehouse Hotel, Autograph Collection in Columbia, Maryland. The 212-key full-service boutique property features is owned and operated by IMH Columbia LLC. Recent property enhancements include a 78-room tower addition and 2,000 square feet of new meeting space. Meyer Jabara Hotels operates 31 hotels and 20 restaurants in 12 states throughout the eastern and central United States.

Hyatt adds in the Dominican Republic. Hyatt Hotels Corp. has entered into a management agreement with Santa Domingo-based Anacaona de Inversiones for a new 500-key Hyatt Vivid-branded flagship resort in the Dominican Republic, which is expected to open by year-end 2025. Following the brand's debut last year, the adults-only Hyatt Vivid Punta Cana will be the second resort in the brand that caters to all-inclusive travelers.

Spain driving demand to southern Europe. Spain is capturing 33% of total international travel demand to southern Europe and 12% of global travel demand to Europe for the first half of 2025, according to the latest analysis performed by Mabrian, which is part of The Data Appeal Company- Almawave Group. Overall, 74.4% of global inspirational travel demand to Spain during the first semester of 2025 is concentrated in just 10 destinations: Madrid, Barcelona, Malaga, Alicante, Palma de Mallorca, Tenerife, Las Palmas de Gran Canaria, Valencia, Seville and Lanzarote. Spain’s two main connectivity hubs, Madrid and Barcelona, account for 24% and 21.7% of total international demand to the country, respectively. Mabrian’s data suggests that the Canary Islands will continue to be a trending destination for international visitors travelling to Spain during the first half of 2025. Tenerife, Gran Canaria, Lanzarote, and Fuerteventura are all showing higher demand shares compared to the same period in 2024.