Latest news: Kerzner to Antigua; big Hilton deal; Marriott grows in Costa Rica

Kerzner adding Antigua. Kerzner International has signed a new One&Only resort and community of Private Homes to be developed in Antigua and opened in 2027. The resort will be located at Half Moon Bay on a 132-acre site overlooking a secluded semi-circular beach, adjacent to a protected national park. This project joins other soon-to-open projects, including One&Only One Za’abeel in Dubai (opening January 2024), One&Only Kéa Island in Greece (opening Spring 2024), and One&Only Moonlight Basin in Big Sky Montana, United States (Spring 2025).

Big Signia deal for Hilton. Hilton signed a management agreement for the 800-room, 40-story Signia by Hilton Indianapolis. Currently under construction and expected to open in late 2026, the new-build Signia by Hilton Indianapolis will serve as the latest anchor hotel connecting to the Indiana Convention Center via skywalk as part of the city’s $710 million convention center expansion. Owned by the Capital Improvement Board of Managers of Marion County, a municipal corporation of Marion County, Indiana, the property will be developed by Kite Realty and managed by Hilton. The hotel will offer approximately 90,000 square feet of flexible meeting space, including a 50,000-square-foot ballroom. Hilton currently has nearly 50 properties in Indianapolis, as well as a development pipeline of more than 10 hotels in various stages of design and construction.

Autograph Collection traction in Costa Rica. Marriott International signed an agreement with San José, Costa Rica-based Enjoy Group to launch two additional Autograph Collection hotels in Costa Rica. Anticipated to open in the last quarter of 2025, the converted 86-room Villa Lapas, Autograph Collection and the new-build Marina Bahía Golfito, Autograph Collection with 35 hotel rooms and 72 branded residences are expected to join two existing Autograph Collection branded properties in Costa Rica managed by Enjoy Group. the Autograph Collection in the Caribbean and Latin America has nearly 40 open hotels and 13 properties under development.

US hotel stocks get November bump. The Baird/STR Hotel Stock Index increased 9.3% in November. “Hotel stocks rose sharply in November and snapped a three-month losing streak; performance generally tracked the benchmarks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Lower interest rates primarily drove the gains during the month, particularly for real estate stocks, and overall investor sentiment improved. Year to date, the hotel REIT sub-index turned positive and is now +7.6%, while the hotel brand sub-index at +30.6% continues to be a relative outperformer.”

Milestone for Hotel Indigo. The 180-room Hotel Indigo Kuala Lumpur on the Park represents the 150th for the IHG Hotels & Resorts brand and marks the brand’s debut in the country. The opening comes on the heels of the brand’s largest-ever marketing campaign, where Hotel Indigo shared its commitment to doubling its portfolio globally over the next three to five years. The brand currently has 278 hotels open or in its pipeline.

Azur Selection grows in Greece. The Azur Selection, a Greek hotel company listed on the Euronext Access + market in Paris, has acquired hotels in Volos and on the island of Meganisi, both in Greece. Acquisitions of the Azur Volos, in the coastal town of Volos, and Azur Meganisi, on the island of Meganisi, will be made through the issue of 1,296,335 new shares of the company (based on an issue price of €3,50 per share corresponding to the last close on December 5th prior to EGM date), to the seller and main shareholder of the company, Giorgios Arvanitakis. The deal reflects a valuation of €2,938,894 for the 49-room Azur Volos and €1,598,280 for the 18-suite Azur Meganisi. Azur Selection manages real estate and hotels in Athens, in Volos and on the island of Mykonos, while maintaining long-term leases with the companies or users of its properties. Its portfolio includes seven hotels (three are sublet to a hotel operator and four are fully managed).

Placemakr growth in Texas. Placemakr, a flexible-use hospitality and multifamily operator, launched its first blended apartment-hotel property in San Antonio, Texas. The Maverick will provide its guests and residents with the brand’s signature experience of transforming a single-use multifamily building into a blended experience featuring home and hotel within a single building. Placemakr is partnering with San Antonio developer AREA Real Estate. The Maverick houses 86 apartments, all of which will be fully furnished and offered for short-, medium-, and long-term stays.