Breaking news on deals, development, data and more.
HAMA managers beating budgets. The Hospitality Asset
Managers Association’s (HAMA) Fall 2024 Industry Outlook Survey of 65 hotel
asset managers revealed that the top three issues of greatest concern are
demand, wage increases and ADR growth; nearly 82% of respondents do not believe
the economy is headed toward a recession in 2025l; and approximately 58% of
respondents have made or are planning to make changes to brand and/or
management as part of their current strategy. “For the most part, our member
hotels continue to exceed budgeted forecasts, and there seems to be little fear
of a recession on the immediate horizon,” said Sarah Gulla, HAMA
president. “While demand and wage increases remain persistent concerns,
this is a solid time to be in the hospitality industry.”
Core repositions Zleeps to Marriott brand. After founding
and developing the Zleep Hotels brand, CEO Peter Haaber has entered an
agreement with Marriott International through his hotel management company,
Core Hospitality, to rebrand its 14 Zleep Hotels properties in Denmark to the
Four Points Flex by Sheraton brand. The majority of the hotels are expected to
be fully rebranded in December of this year, with the rest following in early
2025. Through the conversions, Core Hospitality adds over 1,500 rooms and 10
new markets to Marriott’s portfolio in Denmark. Additionally, the deal makes
Core Hospitality the largest franchisee for Marriott in the Nordic region. Core
Hospitality operates 17 hotels in Denmark across five of Marriott’s brands,
with another three properties in the pipeline.
Azul adds Hyatt Place. Azul Hospitality said the newly
constructed 132-room Hyatt Place South Reno (Nevada) has opened and joined its
portfolio of managed assets. Tolles, a developer, owner, and manager of
industrial, office, retail, and hospitality properties in the Western United
States, developed the property in conjunction with Pelzer Hospitality. The
hotel is located at the base of Mount Rose and is Reno’s closest hotel to Lake
Tahoe.
Kempinski adds residences in Azerbaijan. Kempinski has signed
a deal to manage the Kempinski Residences Bayil Bay in Azerbaijan, which is set
to bring a collection of 37 luxury residences to country’s capital in 2025. The
project, already built and currently under finalization on Seafront Boulevard,
is being developed by Azerbaijani real estate company Baku City Residences,
which has to date completed seven residential real estate projects totalling
more than 2,500 homes and has five new projects in the pipeline. The project
will include three floors of luxury retail, a private lounge area with meeting spaces,
gym, video conferencing room, and a fine-dining restaurant.
COMO launching safari ship. COMO Hotels and Resorts is
launching on July 30,2025, “COMO Journey: Into the Artic,” an 11-day sailing expedition
exploring the wilderness of the remote northern Svalbard Archipelago aboard the
M/S Polarfront, previously a Norwegian weather ship. The vessel has been
transformed into an arctic expedition cruiser featuring eight suites. In
collaboration with Natural World Safaris the journey includes off-ship, zodiac
safaris led by a team of expedition guides. Aligned with COMO’s holistic
philosophy, guests will have the chance to unwind with signature COMO Shambhala
wellness experiences with an onboard therapist available to offer a curated
range of treatments.
Hyatt adds to Destination brand. Hyatt Hotels Corp. has welcomed
the 316-room Cheyenne Mountain Resort to the Destination by Hyatt brand. The
resort is located a short drive from both the central downtown and Colorado
Springs Airport. The resort is comprised of 100,000 square-feet of indoor and
outdoor space, 9,000-square-foot fitness center, a spa and wellness center, five
swimming pools onsite as well as access to 16 tennis courts, eight pickleball
courts and an 18-hole Pete Dye-designed golf course.