Latest news: Hyatt restructures in Americas; first for Langham in China; Home2 Suites to Dublin

Hyatt restructures in Americas. Hyatt Hotels Corp. has announced new senior leadership appointments in the Americas region and a new subregional structure with the U.S. and Canada and Latin America and the Caribbean led by two newly appointed subregional presidents, respectively: Susan Santiago and Gabriel Felip, who both report to Pete Sears, group president, Americas, effective January 2024. In their new roles as president, Santiago and Felop are responsible for the growth and performance optimization of Hyatt’s owned and managed portfolio, including Hyatt’s Inclusive Collection. There are also three newly created roles within the operations, commercial services and finance functions: Yvette Martinez-Edwards has been promoted to senior vice president, Field Operations, Luxury & Miraval, reporting to Santiago; Shyla Gardner re-joins Hyatt as vice president, Commercial Services, Latin America & the Caribbean, reporting to Asad Ahmed, senior vice president, Commercial Services, Americas; and Juan Pablo Puerta now serves as senior vice president, Finance, Latin America & the Caribbean, reporting to Liz Bauer, senior vice president, Finance, Americas.

Three pack for Langham in China. For the first time, Langham Hospitality Group, Hong Kong, signed management agreements for three hotels on a single plot secured in Xiamen, China. The newly built properties are part of Xiamen Seaworld, China Merchants Group’s (CMG’s) mixed-use development perched on the western shore of Xiamen’s main island. The hotels will open in 2025 and include the flagship The Langham Hotels & Resorts, as well as Cordis Hotels & Resorts, and Ying’nFlo. The properties will join the group’s existing hotel in Xiamen, the Langham Place, and take the total number of LHG hotels in China to 20. The group has more than 30 projects currently either confirmed or in a developed stage of negotiation from Asia, Europe and North America to the Middle East.

Construction cost forecast. U.S. construction costs are set to increase by 3% to 6% in 2024, following an average increase of 4% in 2023, according to cost and project management advisor Currie & Brown. It also said there will be significant variation in cost escalation between major cities. Construction costs in Chicago are predicted to rise 3.5% in 2024, compared to 6% in Phoenix. Currie & Brown cite geopolitical turmoil, inflation, sustainability rules, skills and materials shortages as common drivers of increasing costs.

Bank takes stake in Meliá subsidiary. Meliá Hotels International has formed a €300 million strategic alliance with Banco de Santander, with the bank’s investment arm Moon GC P Investments purchasing a 38.2% stake in a newly formed Meliá subsidiary that holds three hotels, including ME London, Gran Meliá Palacio de Isora in Tenerife, and Meliá Cala Galdana in Menorca. Meliá will continue to manage the operations.

Sterling acquires in England. London-based Sterling Property Ventures has acquired the 120-key ibis Styles Birmingham Centre from Legal and General Asset Management for £46 million. This is the first acquisition for Sterling’s new asset management and investment vertical.

Whitbread adds in Manchester. Whitbread PLC has purchased a hotel development site from Premcor on the edge of Manchester’s Northern Quarter to develop a 10-story, 229-key Premier Inn. Construction is expected to begin this summer.

Radisson adds in India. Radisson Hotel Group has signed a 150-key Radisson Blu Hotel in Ayodhya, India. The hotel is being developed by Jeewani Hospitality in partnership with EaseMyTrip and is scheduled to open in 2027. This is Radisson’s second hotel in Ayodhya.

Hilton debuts Home2 Suites in Western Europe. Hilton is debuting its Home2 Suites in Western Europe with the 290-key Home2 Suites by Hilton Dublin City Centre as part of a franchise agreement with JMK Group. The hotel is scheduled to open in 2025.

InterConti to debut in Dubai. The Heart of Europe has signed an agreement with IHG Hotels & Resorts to bring the first Intercontinental resort to Dubai with the 466-key InterContinental Resort Portofino. The Heart of Europe, the flagship project of Kleindienst Group, will manage the property, which is scheduled to open in early 2026.

Europe hotel construction pipeline. The hotel construction pipeline in Europe at the end of 2023 stands at 1,766 projects and 254,937 rooms, according to the latest data from Lodging Econometrics. Those numbers break down to 755 projects and 115,300 rooms currently under construction, 418 projects and 64,835 rooms scheduled to start construction in the next 12 months, and 533 projects and 74,802 rooms in the early planning stages. According to LE, announced renovation and conversion projects have surged recently, rising 21% by projects and 10% by rooms year-over-year. The United Kingdom leads the region in projects, with 322 projects and 43,990 rooms, while Germany is second with 195 projects and 31,839 rooms. France is third with 127 projects and 14,224 rooms, and Turkey is fourth with a record-high of 118 projects and 17,752 rooms. London is the top city with 77 projects and 13,699 rooms, followed by Istanbul (53 projects/8,911 rooms), Lisbon (36 projects/4,013 rooms), Dublin (32 projects/6,106 rooms) and Dusseldorf with (28 projects/5,228 rooms). In 2023, 316 new hotels and 41,866 rooms opened throughout Europe. LE expects 348 new hotels and 48,559 rooms to open in 2024.

WFM Financial adds in Melbourne. Australia-based WFM Financial, a subsidiary of Australia-based alternative asset manager MA Financial, has acquired the 273-key Four Points by Sheraton, Melbourne Docklands Hotel from Singapore-based Hiap Hoe for AUD96 million. The hotel is expected to be rebranded as Vibe Docklands and managed by Australia-based TFE Hotels.

AB Balder adds in Sweden. Gothenburg, Sweden-based AB Balder has acquired the 300-key Clarion Hotel Karlatornet in Gothenburg from Serneke for SEK 660 million (approximately €58.7M). It is expected to open in the summer of 2024 under a lease with Norway’s Strawberry Group.

HIH Invest adds in Hamburg. Germany-based HIH Invest has acquired the Hamburg Elbspeicher mixed-use building in Hamburg, Germany, from German real estate company Branicks Group. The 10-story building includes a 130-key GINN Hotel Hamburg Elbspeicher. The building was converted from office to hotel use in 2019.

Biografy adds in Paris. Paris-based Biografy Group has acquired the 40-key Le Pigalle hotel in Paris from London-based PE firm Perseus Capital Partners for an undisclosed amount. Biografy will also operate the hotel.

Fletcher acquires in the Netherlands. Dutch hotel group Fletcher Hotels has acquired the 74-key The Slaak boutique hotel in Rotterdam, Netherlands, for an undisclosed amount, according to HVS. The hotel, which was fully renovated in 2019, fell into insolvency and will now be the Fletcher Boutique Hotel Slaak-Rotterdam.

First Moxy in Thailand. Marriott International is debuting its Moxy brand in Thailand with the opening of 504-key Moxy Bangkok Ratchaprasong.