Latest news: Fattal refis in London; Park Hyatt adds in China; AHLA law database

Fattal refis in London. Fattal Hotel Group has secured a £525 million ($678.65 million) senior loan from Cheyne Capital for refinancing four London hotel with a collective 1,300 rooms, including the NYX Hotel London Holborn, Leonardo Royal Hotel London City, Leonardo Royal Hotel London Tower Bridge, and Leonardo Royal Hotel London St Paul’s. The properties to be refinanced were acquired by Fattal in 2019 and operate under the company’s European arm, Leonardo Hotels. The refinancing deal also saw the involvement of Migdal Insurance Company, which partnered with Cheyne Capital to support Fattal's financial move.

Hyatt grows in China. Hyatt Hotels Corp. and China Resources Land have entered into a management agreement with CR Land for a Park Hyatt hotel in Xi’an, Shaanxi province, China. This project will be located in the CCBD, one of the key mix-use commercial complexes along Xi’an’s central axis. Park Hyatt Xi’an will offer 192 rooms and suites. Hyatt and CR Land have previously collaborated on several projects since the opening of Grand Hyatt Shenzhen in 2009, including Grand Hyatt Dalian, Park Hyatt Hangzhou, Grand Hyatt Hefei, Grand Hyatt Shenyang, Andaz Xiamen and Andaz Shenzhen Bay.

Moxy to Cairo. Marriott International and Reliance Ventures have signed an agreement to open a Moxy Hotel in downtown Cairo, Egypt, in 2029. It will be part of an adaptive reuse project of the Lazoghly complex of buildings, which were formerly the offices of the country’s Ministry of Interior. The complex is being repurposed to offer hotel, office and co-working spaces, retail outlets and restaurants, as well as edutainment facilities.

New US law database. The American Hotel & Lodging Association (AHLA) has launched its Hospitality Law Database, which gives hoteliers quick access to a nationwide compendium of state and local laws that impact hotel operations. This new online both topic and jurisdiction tool can help hotel owners, managers, human resources professionals, lawyers, and others navigate and abide by the state and local laws that affect the hotel industry. The database tracks laws across all 50 states, the District of Columbia, and the top 25 U.S. hotel markets.

ADR gains drive Canada. Canada’s hotel industry in June achieved continued performance gains through ADR, according to CoStar data. In June 2024, occupancy was 74.5% (+0.5% YOY); ADR was C$231.04 (+3.7% YOY); and RevPAR was C$172.10 (+4.2% YOY). Among the provinces and territories, Newfoundland and Labrador recorded the highest occupancy level (82.8%), which was 4.6% below 2023. Among the major markets, Toronto saw the highest occupancy (84.7%), up 1.5% over June 2023. Despite this increase, ADR declined for the second consecutive month, primarily due to a 5.6% decrease in transient rates. The lowest occupancy among provinces was reported in Saskatchewan (63.3%), up 0.4% against 2023. At the market level, the lowest occupancy was reported in Edmonton (+7.5% to 62.2%).

Meet LivAway Suites. Salt Lake City-based LivAway Suites has opened its first extended-stay hotel in West Jordan, Utah, in the Salt Lake City metropolitan area. The 126-suite hotel was developed by West77 Partners and completed on time and below budget, according to the brand statement. LivAway Suites has broken ground on eight more projects over the past 11 month and plans to break ground on 20 more locations over the next year. It plans to open multiple other locations later this year in markets like Nashville, Washington State and Montana with plans to have more than 50 hotels open or under construction by 2026.

Gargallo adds in Barcelona. Realtor Stoneweg and PE firm Bain Capital, through their hotel real estate joint venture, have sold the Casa Lit Barcelona hotel to Grupo Hoteles Gargallo for an unspecified price. The 4-star hotel was constructed in 2010 on the site of the former Colón theatres and comprises 89 rooms. Stoneweg took control of the property in 2022 and it has been managed by the Ona Hotels chain. The deal gives Gargallo 11 hotels in Barcelona.

Radisson signs 3 in Philippines. Radisson Hotel Group has added three new hotels (450 keys) in the Philippines at first and second-tier destinations – Cauayan City, Olongapo and Dasmarinas. The 151-room Park Inn by Radisson Cauayan Isabela will become the first internationally branded hotel in Cauayan, a city in the province of Isabela, Luzon Island, when it opens in 2Q27. The 151-room Park Inn by Radisson Olongapo Central is a brand-new hotel that will mark the group’s entry into Olongapo, an emerging coastal city overlooking Subic Bay on the west coast of Luzon Island. It will open in 1Q28. And the 151-room Park Inn by Radisson Dasmarinas will form part of the extension of the existing SM City Dasmarinas shopping mall when it opens in 4Q27. Radisson Hotel Group currently operates six hotels in the Philippines with five other projects in the pipeline.