Breaking news about deals, development, data and more.
InterCon Times Square selling? Highgate and Gencom are reportedly close to a deal to
acquire the 607-room InterContinental
New York Times Square for about $230 million from its owners, including Tishman
Realty, according to Bloomberg, who cited sources close to the deal. Eastdil
Secured is advising on the deal. The hotel opened in 2010 and was refinanced in
2018 with a US$190 million loan from Blackstone Mortgage Trust, public records
show.
Sage reimagines in Florida. The 193-room One Ocean Resort & Spa in Atlantic Beach,
Florida, is being rebranded by Sage Hospitality and joint venture partners as
Dune House Hotel & Spa, set to debut in Spring 2026. The refresh will
include guest rooms and suites, new food and beverage concepts, and an elevated
guest experience. In July 2024, Sage Investments, part of Sage Hospitality
Group, entered a joint venture with Aspect Real Estate Group, Corner Lot and
Kelco Management and Development to buy the property from Ashford Hospitality
Trust through ACS One Ocean Propco LLC. Sage will continue to manage the
property after the rebranding.
Landmark reopening. Park Hyatt Tokyo, the first Park Hyatt in Asia,
will reopen on December 9, 2025. The hotel occupies the 39th to 52nd
floors of Shinjuku Park Tower. Following a comprehensive property-wide
refinement since May 2024, the hotel will unveil newly designed guestrooms
and suites, restored public spaces, event venues and enhanced dining
destinations, including Girandole by Alain Ducasse and The Peak
Lounge & Bar. The iconic New York Grill & Bar, modern Japanese
restaurant Kozue, Club On The Park fitness center and spa, and The Library – a
curated collection of more than 2,000 books – will be fully restored to their
original designs. As part of the project, room count is being reduced from 177
to 171 to introduce a new suite category.
Sandals growth. Sandals is opening a new Beaches resort in St
Vincent and the Grenadines, according to Executive Chairman Adam Stewart. The
new resort is a 360-room all-inclusive development planned for Mount Wynne
Beach on the western coast of St Vincent. Stewart said at the Skift Global
Forum that the company will soon open a Treasure Beach Village expansion at
Beaches Turks and Caicos, adding 101 new suites. Upcoming resorts include the
new Beaches Exuma; Beaches Barbados; and Beaches Runaway Bay in Jamaica.
Together, these projects represent a $1 billion investment across the
Caribbean.
UK rebranding. The Grade II listed Dover Marina Hotel & Spa in the U.K.
is joining the Tapestry Collection by Hilton. Following a multi-million-pound
restoration, the 122-room hotel has reimagined guest rooms, many with panoramic
sea view; Marco Pierre White’s Mr. White’s English Chophousl; The Churchill Bar;
the rejuvenated Waterfront and more.
IHG grows in Japan. IHG Hotels & Resorts (IHG) has added the 102-room ANA
Holiday Inn Resort Karuizawa to its portfolio in Japan, marking the first
major internationally branded hotel in the local prefecture. IHG will also be
opening the Holiday Inn & Suites Sapporo Odori Park on October 1, the
second Holiday Inn & Suites property in Japan.