Latest news: First Hyatt Studios opens; Ashford $410M refi; US CEO for B&B

First Hyatt Studios opens. Hyatt Hotels Corp. has partnered with Chattanooga, Tennessee-based 3H Group and Dothan, Alabama-based third-party manager LBA Hospitality to officially open its first-ever Hyatt Studios hotel with the 122-key Hyatt Studios Mobile/Tillmans Corner in Mobile, Alabama. 3H is opening additional Hyatt properties, including Caption by Hyatt hotel in Chattanooga, which will be the first Hyatt in the market. Dan Hansen, head of Americas development for Hyatt, told Hotel Investment Today that the new brand will help add Hyatts to the markets where it isn’t located in the U.S., including Mobile. Hyatt expects to open 40 more Hyatt Studios by 2027.

Ashford refinances 17 hotels. Dallas-based REIT Ashford Hospitality Trust has successfully extended its Morgan Stanley Pool mortgage loan secured by 17 hotels. The loan had an original final maturity date of November 2024. The extension provides for an initial maturity in March 2026 and two one-year extension options, subject to the satisfaction of certain conditions, with a final maturity date in March 2028. The loan has a current balance of $409.8 million and continues to bear interest at a floating rate of SOFR + 3.39%. Ashford said the extension also gives it flexibility to release assets upon sale.

New CEO for B&B Hotels USA. B&B Hotels - USA has named Amir Mustafa as its new CEO, succeeding Valerio Duchini, who was recently named CEO of Western Europe for the company. Mustafa held various leadership positions at Extended Stay America and is the former senior vice president of operations at Aimbridge. Last year, France-based B&B Hotels entered the U.S. lodging space and intends to advance in the domestic market by keeping the same business model that works in Europe.

Sonder Raises $18M. Apartment-style accommodations provider Sonder Holdings’ full inventory will be available to book through Marriott International’s distribution channels by the end of the second quarter, the company announced Monday. Meanwhile, Sonder has raised about $18 million through a stock sale and plans “headcount reductions” in a cost-cutting strategy. Sonder expects its “cost reduction initiatives,” when complete, to generate $50 million in annual savings.

AAHOA lending platform. The Asian American Hotel Owners Association (AAHOA) is partnering with Bridge to create a digital lending platform that will offer AAHOA members access to over 150 lenders. 

New HAMA survey. The Hospitality Asset Managers Association Spring 2025 Industry Outlook found that the top three concerns of its members are demand, tariffs and a tie between DOGE cuts and wage increases. When asked seven weeks ago, approximately half of respondents (49%) believed the U.S. will enter recession in 2025. During an informal poll conducted during the conference earlier this month, 70% of attendees expressed concern about an impending recession. Approximately 55% of respondents said seven weeks ago that they have made or are planning to make changes to brand and/or management as part of their current strategy.

Shayer acquires in Melbourne. Taiwan-based Shayher Group has acquired 245-key The Park Hyatt in Melbourne, Australia, from Beijing-based Vendor Fu Wah International for a reported AU$200 million. JLL represented the seller in the transaction, and the sale is subject to a management agreement with Hyatt. Fu Wah acquired the asset in 2024 for AU$118 million.

$50M renovation in Atlantic City. The 1,860-key Ocean Casino Resort in Atlantic City, New Jersey, announced over $50 million in property-wide capital investments planned for 2025. These new development projects are part of a seven-year, $270 million property transformation that Ocean has been implementing since its inception in 2018. This latest commitment includes more than 500 new Blu Rooms and Suites, a casino expansion, five new dining options and more.

IHG adds in India. IHG Hotels & Resorts has signed a management agreement with Kondhawal, India-based Gauri Resort & Banquet Services, to launch 120-key Holiday Inn Express & Suites Hapur in India. The hotel is scheduled to open in 2027. IHG currently has 47 hotels operating across six brands in India and a pipeline of 60 hotels due to open in the next three to five years.

G6 adds 150 corporate clients. Dallas-based G6 Hospitality, the parent company of Motel 6 and Studio 6, said it has added over 150 corporate clients in 2025 across industries like construction, transportation, agriculture, retail and transitional housing. The company said it has seen significant growth in its corporate segment, with an approximate 26% increase in revenue in Q1 2025 versus the same period last year. G6 Hospitality said it has been adding approximately 50 new corporate accounts every month since January 2025. The company is focusing its efforts on construction, transportation, and agriculture industries while also pursuing small to medium-sized businesses that generate annual bookings ranging from $15,000 to over $1 million. G6 added that franchisee Natson Hotel Group saw over 2x growth in corporate revenue in Q1 2025 vs Q1 2024.

IHG adds in Jeddah. IHG Hotels & Resorts is partnering with Hassan Salem Al Zahrani to sign a management agreement to bring the new-build 222-key Holiday Inn Jeddah Al Naseem to Jeddah, Saudi Arabia. The hotel is scheduled to open in June 2026. IHG currently operates 45 hotels across six brands in Saudi Arabia, with 47 properties planned in the pipeline or already under development.

Red Sea Global adds in KSA. Riyadh, Saudi Arabia-based Red Sea Global has announced Laheq Island, a new luxury integrated resort island at The Red Sea in Saudi Arabia. The island will feature private residences, two luxury resort hotels, a 115-berth marina, an 18-hole golf course, and is scheduled to open in 2028. 

Marriott adds in Cape Town. Marriott is adding its first Tribute Portfolio hotel in South Africa with the opening of the 198-key Lord Charles Hotel in Cape Town. The hotel had major renovations in 2022 and is situated on 22 acres.

Record year for Club Med. Paris-based Club Med has capped off a record-breaking 2024, recording a business volume of €2.09 billion, a 7% increase from demand in Australia and New Zealand and impressive growth. In the East, South Asia and Pacific (ESAP) region, Club Med grew its business volume by 24% year-over-year and had 260,000 guests from the region at its resorts worldwide, a 5.5% increase from 2023.