Latest news: Hilton eyeing Graduate? Fosun marketing Club Med stake; Isrotel grows in Europe

Hilton interested in Graduate? In what would be a departure from its organic growth strategy, Bloomberg was the first to report that Hilton is eyeing an acquisition of AJ Capital’s college town Graduate Hotels brand, which has more than 30 properties in the U.S. and U.K. Hilton said it will not respond to market rumors. Hilton has recently stated it plans to roll out a lifestyle brand in the near term.

Fosun could sell minority stake in Club Med. China-based Fosun International is exploring the sale of as much as a 30% stake in the luxury resort chain Club Med, according to a report by Reuters. Fosun is targeting a valuation of $800 million for the whole business. However, in November 2022, Bloomberg reported that Fosun was informally fielding interest in Club Med based on a full-business valuation of $1.5 billion. Club Med runs nearly 70 resorts around the world.

Ennismore standalone residence. London-based Ennismore, through its SLS brand, will have its first standalone residence in Spain with the 33-key SLS Madrid Infantas Residences. SLS will manage the property, which will open this spring. Ennismore’s currently has over 25 branded residences open or under development.

Marriott adds in Dubai. West F5 Investments has signed a deal with Marriott International to open the 590-key Marriott Marquis Dubai in the Jewel of the Creek complex in Dubai. The hotel will have 434 hotel rooms and 156 serviced apartments and is scheduled to open in March 2024. It will be operated by Dubai-based Aleph Hospitality.

Isrotel expands to Greece. Israel-based Isrotel is launching a new Aluma brand under which the company will operate hotels in Europe. The first will be the Skylark hotel in Athens, which will open in the coming months. Isrotel, one of the largest hotel owners and operators in Israel, plans to open two other hotels in Greece in 2024 and plans to open in Italy, Portugal and England.

Ovolo Hotels partners with SLH. Hong Kong-based Ovolo Hotels has partnered with Small Luxury Hotels of the World (SLH) to grow its presence in Asia Pacific and globally. Ovolo will start integrating eight hotels into the SLH collection with plans for its two By Ovolo hotels to be integrated by the first quarter of 2024. SLH currently has a collection of 550 independent hotels in over 90 countries.

ESA sells in North Carolina. Charlotte-based Extended Stay America has sold a property in Cary, North Carolina, for $5.84 million. The 71-key Extended Stay America Suites Raleigh-Cary-Harrison Avenue was sold to Amba Mata, an entity registered to Chiragbhai Patel. Extended Stay America has sold five properties in the Triangle area of North Carolina in the past seven months.

Refinance of Kimpton in Atlanta. Zurich-based ACRON AG has refinanced a loan for the 214-key Kimpton Overland Hotel Atlanta Airport. Dallas-based Civitas Capital Group provided the mezzanine loan, allowing the borrower to pay down its existing senior lender and have an improved blended rate on the hotel’s financing.

Hyatt adds in Goa. Hyatt Hotel Corp. is opening the 135-key Ronil Goa in Goa, India. This marks the entry of the JdV brand in Southwest Asia. The rebranded hotel debuted more than 35 years ago.

Westin Tempe could face foreclosure. The 290-room Westin Tempe is facing potential foreclosure after failing to make its loan payments, according to a report in the Phoenix Business Journal. Las Vegas-based CAI Investments owns the property as CAI Tempe Hotel Partners LLC, which modified its loan agreement with Hall Structured Finance multiple times in 2023. The construction loan was issued in 2019, and the hotel opened in 2021.

Kempinski adds branded residence in Dubai. Munich-based Kempinski has signed a deal to manage a branded residence in Dubai Marina. The 453-key Kempinski Marina Residences, Dubai is currently being developed by UAE-based ABA Group Dubai and is scheduled to open in early 2028.

IHG expands in India. IHG Hotels & Resorts is establishing a presence in North East India by signing a Holiday Inn in Guwahati. The 150-key hotel is scheduled to open in January 2028. IHG signed a management agreement with Yuvaan Developers Pvt. Ltd. for Holiday Inn Guwahati. IHG has 45 hotels operating across five brands in India, with a pipeline of 45 more in the next three to five years.

TFE expands in Brisbane. Australia-based TFE Hotels has signed the 148-key Adina Apartment Hotel Chermside Brisbane, which is scheduled to open in 2025 in Brisbane. The hotel is owned by Queensland-based Limitless Developments. 

Sotetsu debuts in Thailand. Japan-based Sotetsu Hotel Management and Hi Metta Karuna Panya are opening the Sotetsu Grand Fresa Bangkok, which will mark the company’s first hotel in Thailand and its third outside Japan. The 129-key hotel is scheduled to open on April 9.

67% of hotels have staffing shortages. More than two-thirds of hotels continue to experience staffing shortages, according to a new survey by the American Hotel & Lodging Association. Over the last six months, 82% of respondents have increased wages, but 72% say they are still unable to fill open positions. According to the survey, 48% said housekeeping is the hiring need.