Latest news: Hyatt adds in Cincy; Design Hotels to China; global pipeline surging

Hyatt opening Centric in Cincy. Hyatt is partnering with Carmel, Indiana-based Birkla Investment Group to open the 170-key Hyatt Centric Cincinnati in 2026. The hotel will be the first Centric in Cincinnati. Birkla will own the property, which Covington, Kentucky-based Commonwealth Hotels will manage.

Marriott adding Design Hotels in China. Marriott International has signed an agreement with SCHotel Investment and Management Group, marking the expected return of the Design Hotels brand to mainland China, further expanding its brand offerings in the region. The Habo Hotel Shanghai, a member of Design Hotels, is anticipated to open in October. Marriott added a record-high 161 signed deals in China last year, representing nearly 31,000 rooms, in the region. In 2024, Marriott increased by 73% YOY the number of luxury rooms signed in Greater China. It also signed more than 30 premium brand deals, representing an 88% increase YOY, including agreements expected to mark entry into seven new destinations. Marriott closed the year with 285 open premium brand properties in Greater China, with 151 in the pipeline.

Global pipeline update. The global hotel construction pipeline continues its upward trajectory, reaching a new all-time high project count with 15,820 projects and 2,438,189 rooms, a 4% increase in projects and a 3% increase in rooms year-over-year (YOY), according to Lodging Econometrics data. There are 6,231 projects and 1,098,620 rooms are currently under construction worldwide in Q4 2024, up 1% by projects YOY. Projects scheduled to start construction in the next 12 months stand at 3,872 projects and 539,054 rooms, up 1% by projects YOY. Projects in the early planning stage have reached record highs, standing at 5,717 projects and 800,515 rooms, showing significant growth with a 10% increase in projects and a 9% increase in rooms YOY. The U.S. remains the top country with a new all-time high project count of 6,378 projects and 746,986 rooms, up 7% and 8%, respectively, YOY. China is second with 3,779 projects and 681,915 rooms. The U.S. represents 40% of the projects in the total global pipeline, while China accounts for 24%. During 2024, 2,226 new hotels opened worldwide, accounting for 317,608 rooms, representing a 7% increase in new hotel openings YOY.

Ad Astra Capital acquires in Wyoming. New York City-based Ad Astra Capital has secured a $15.6 million loan for the acquisition of the 123-key Hilton Garden Inn Casper in Casper, Wyoming, from an undisclosed buyer. The property was built in 2008 and underwent a comprehensive $6.3 million renovation under previous ownership, including upgrades to guest rooms, meeting space, and amenities completed in October 2024. Dallas-based CIM Group, through its CIM Real Estate Debt Solutions business and on behalf of a CIM-managed fund, provided the financing. 

Dora adds in Indiana. Fishers, Indiana-based Dora Hospitality will open a 135-key AC Hotels by Marriott in the Indianapolis suburb as part of The Union at Fishers District development. Dora, which will own and operate the property, expects to break ground in the first quarter of 2025.

Hilton adds in Ethiopia. Hilton has signed an agreement with Brighton Hotels and Business Plc. to open two properties in Ethiopia – the 188-key DoubleTree by Hilton Adama and the 150-key DoubleTree by Hilton Dire Dawa. The agreement marks the first internationally branded hotel in the two cities. Hilton plans to expand its offerings in Ethiopia, reaching eight trading properties in the country in the coming years.

Andras acquires in Belfast. Belfast, Northern Ireland-based Andras House has acquired a 90-key Travelodge hotel in Belfast from Dublin-based Tifco Hotels Group for £8.75 million. Danske Bank provided the financing. Andras House Ltd is a leading property development and hospitality company based in Belfast with 12 hotel and apartment properties and over 1,300 guest rooms.

Southern Europe performance surges. The Southern European hospitality market experienced another year of high performance, according to the latest data from CoStar. In 2024, regional RevPAR increased 9.8% year-over-year while ADR increased 8% to €175 – the highest regional rate in Europe for the year. The 2024 Paris Olympics injected significant demand into the French hospitality market. Paris witnessed the most pronounced impact, with hotels maintaining 80%+ occupancy during the two-week Games period and peaking at 90.5% midway through. Spain also witnessed another remarkable year of double-digit growth, as a surge in international tourism helped propel RevPAR 11.5% ahead of 2023. Despite unorthodox and more official approaches to addressing overtourism, occupancy and ADR in Athens, Rome, Venice, and the Spanish islands continued to climb in 2024.