Latest news: Hyatt takes Aces in NOLA; Hoxton to Nordics; budget deal in Japan

Hyatt takes former Aces. Hyatt Hotels Corp. is expanding in New Orleans by taking over two former Ace hotel properties – the Maison Métier (formerly Maison de la Luz) and The Barnett (formerly Ace Hotel New Orleans). The hotels are expected to join Hyatt’s Independent Collection of brands and participate in the World of Hyatt loyalty program this year. The two properties are owned by The Domain Companies and managed by HRI Hospitality. Maison Métier is expected to join The Unbound Collection by Hyatt soft brand in 2024. The Barnett will join JdV by Hyatt brand as an independently branded hotel in 2024.

More CPACE from Peachtree. Peachtree Group has originated a $40 million retroactive CPACE loan to BLG SAN DIEGO, LLC (BLG) for its recently opened 147-room AC Hotel San Diego Downtown Gaslamp Quarter. The Commercial Property Assessed Clean Energy (CPACE) financing was amortized over 30 years and required no payment for a year, followed by five years of interest-only payments. Also, the proceeds allowed BLG to pay down its senior loan with California-based Preferred Bank and E.Sun Commercial Bank to under $20 million.

Ennismore cracks the Nordics. Ennismore, together with AB Invest and Møller Eiendom, have signed a deal for The Hoxton, Oslo—the brand's first hotel in the Nordic region set to open in 2027. The hotel will feature 144 rooms; a 170sqm meetings and events space set around an open pantry kitchen; and three food & beverage outlets curated by Ennismore’s F&B concept studio, Carte Blanched. The Hoxton, Oslo—managed by Ennismore—is a joint venture between AB Invest, a privately owned property company that develops commercial properties in the Nordics, with a focus on hotels, offices, and holiday properties, and Møller Eiendom, an owner, manager, and property developer who emphasises forward-looking buildings and good urban spaces. Today, The Hoxton operates 16 hotels, including recent openings in Vienna (Austria), Charlottenburg (Berlin), Brussels (Belgium), and Amsterdam (The Netherlands), and it has seven more hotels in the pipeline, including Edinburgh.

New Cleveland development. Developer Spark GHC and Cleveland Construction have announced $100-plus million Project Scarlet in Cleveland, which will transform a 400,000-square-foot office space, formerly Medical Mutual’s headquarters, into a mixed-use development with a boutique hotel, multifamily apartments and ground-floor retail.

IHG grows in Egypt. IHG Hotels & Resorts has signed a management agreement with Arkan Palm for Real Estate Investment to further expand its presence in Egypt with the launch of the first Holiday Inn Express hotel in the country. Holiday Inn Express West Cairo 205 is set to open in 2027. Arkan is also developing a 250-key InterContinental West Cairo 205, due in 2028, and the 140-key voco West Cairo 205 Suites, set for completion in 2026. IHG currently has seven hotels operating across four brands in Egypt and 19 hotels due to open within the next five years across the country.

Park closing Oakland airport hotel. Park Hotels & Resorts’ Hilton Oakland Airport is slated to close in August after more than five decades in business. Officials with the Port of Oakland, which owns the land where the hotel is located, confirmed that Park intends to cease operations on or about August 28. The corridor, which connects the airport with Interstate 88,0, has seen several business closures in the past year,  including In-N-Out, two Starbucks stores, a Subway, a Denny’s and Black Bear Diner.

Crestline adds in Houston. Crestline Hotels & Resorts has been selected to manage the AC Hotel Houston Downtown, Texas. The 195-room property has 4,000 square feet of creative meeting space, a restaurant and bar. It marks Crestline’s third managed hotel in the greater Houston area.

Big budget deal in Japan. Japan-based Star Asia Group has agreed to acquire the Japan-based budget hotel operator Minacia from Japan-based Unison Capital for an undisclosed sum. Minacia currently operates 39 properties (5,180 keys) across major Japanese cities under various brands such as Wing International and Tenza. This agreement follows Star Asia’s previous acquisition of a majority equity stake in Japan-based hotel operator Polaris Holdings in 2018. Polaris Holdings currently operates 50 hotels (8,958 keys) in its portfolio.

Radisson adds in Africa. Radisson Hotel Group has added seven new hotels in Africa with more 1,200 rooms and including its first hotel in Tanzania. With those additions, the group’s footprint in Africa has grown to nearly 100 hotels in operation and development and on track to reach its goal of 150 hotels within the next five years. Tanzania has been identified as a key market in the group’s expansion strategy, making its debut in the country with two hotel signings. In Nigeria, Radisson Hotel Group has 13 hotels in operation and under development, including five new hotels signed in 2023. The new signing of the Radisson Red Hotel Abuja has further bolstered the Group’s presence in the city, bringing the total number of hotels under development in Abuja to four. In Morocco, the group has grown its presence from one hotel in 2020 to nine hotels in operation and four hotels in development today. Casablanca represents a strategic hub among multiple continents and the new signing of Radisson Blu Hotel & Apartments Casablanca Finance City and Radisson Red Hotel Casablanca Finance City helps with the group’s ambitions to reach over 25 hotels by 2030 across the country.