Latest news: Marriott adding camps in Kenya; Hyatt’s tender for Playa; $20M project in Jamaica

Marriott adds luxury camps in Kenya. Marriott International is partnering with the Lazizi Group of Companies to open two luxury tented safari camps in Kenya with the signings of the 20-key The Ritz-Carlton, Masai Mara Safari Camp and the 20-key JW Marriott Mount Kenya Rhino Reserve Safari Camp with Lazizi Mara Ltd. and Lazizi Solio Ltd., respectively. The Ritz-Carlton, Masai Mara Safari Camp is scheduled to open in August while JW Marriott Mount Kenya Rhino Reserve Safari Camp is expected to open in early 2026. The properties will mark Marriott’s second and third luxury safari camps in Kenya following the opening of JW Marriott Masai Mara Lodge in 2023. Marriott’s portfolio in Kenya includes seven properties and more than 1,100 rooms.

Hyatt tender offer for Playa. Hyatt commenced its tender offer for shares of Playa Hotels & Resorts and has received non-binding preliminary indications of interest for the purchase of Playa’s owned real estate portfolio, according to analyst Michael Bellisario of R.W. Baird. “We are incrementally positive – any progress or indication that Playa’s real estate could be sold sooner rather than later is a positive development,” he said. The offer expires on April 25 and the total deal valuation is $2.7 billion including transaction costs. At least 80% of Playa shares need to be tendered to reach the minimum condition.

$20M Palladium project in Jamaica. Madrid-based Palladium Hotel Group and asset owner Grupo Empresas Matutes have begun construction to expand Grand Palladium Hotels & Resorts in Jamaica, Montego Bay. The $20 million project will add over 948 new rooms to the resort, which currently has a total of 1,049 rooms, distributed across two hotels: Grand Palladium Lady Hamilton Resort & Spa and Grand Palladium Jamaica Resort & Spa.

Apple Hospitality earnings. Richmond, Virginia-based Apple Hospitality REIT reported RevPAR growth of 2.7% in Q4 year-over-year and 1.4% for full-year 2024 YOY, driven by a steady improvement in business transient demand. Apple’s hotels saw ADR growth of 1.7% in Q4 YOY and occupancy gains of 2.6%. Its comparable hotels adjusted EBITDA to approximately $108 million in Q4, up 3% YOY. The acquisitive REIT added two hotels in 2024, the 234-key AC Hotel by Marriott Washington DC Convention for approximately $116.8 million and the 262-key Embassy Suites by Hilton Madison Downtown for $79.5 million. Apple also sold six hotels in 2024 for a combined gross sales price of approximately $63.4 million, resulting in a combined gain on the sales of approximately $19.7 million, including three in the fourth quarter: the 90-key Courtyard by Marriott Wichita East in Kansas for a gross sales price of approximately $3.1 million. the 97-key TownePlace Suites by Marriott Knoxville Cedar Bluff in Tennessee for a gross sales price of approximately $9.4 million and the 117-room Hilton Garden Inn Austin North in Texas for a gross sales price of approximately $10.4 million. Apple also disclosed it sold the 76-room Homewood Suites by Hilton Chattanooga-Hamilton Place in Tennessee this month for a gross sales price of approximately $8.3 million. 

HPI secures loan modification. Old Lyme, Connecticut-based Hamilton Point Investments, through its HPI Hotel Opportunity Fund LLC, has secured a loan modification for an undisclosed amount for the 241-key Hotel Indigo Detroit Downtown. Park City, Utah-based CooperWynnCapital secured the financing. The modification allows HPI to maintain its current loan while replacing historic costly covenants.

Fertitta becomes principal shareholder of Wynn. Tilman Fertitta, the owner of the Golden Nugget in Las Vegas, has become a principal shareholder in Wynn Resorts. Fertitta crossed the 10% threshold by owning or controlling nearly 12.6 million shares of Wynn stock, according to a Monday disclosure with the Securities and Exchange Commission. He became the company's largest individual shareholder after increasing his stake to 9.9% last year.

Growth for Canada last month. Canada’s hotel industry in January reported positive performance year over year, driven by growth in room rates, according to CoStar data. Occupancy was 49.8% (+0.3%), ADR was CAD180.04 (+2.7%). while RevPAR was CAD89.60 (+3.1%). Among the provinces and territories, British Columbia recorded the highest occupancy level (52.9%), which was up 1.3% year-over-year. Among the major markets, Vancouver saw the highest occupancy (60.7%), down 1.1% YOY.  The lowest occupancy among provinces was reported in Prince Edward Island (28.5%), down 0.3% against 2024. At the market level, the lowest occupancy was reported in Calgary (-6.5% to 45.3%).

Middle East hotel pipeline. Saudi Arabia and Egypt lead the Middle East’s hotel pipeline in the fourth quarter, according to Lodging Econometrics data. The region’s pipeline stands at 619 projects and 155,428 rooms, showing continued growth in projects (up 2% YOY) and rooms (up 6% YOY). Through the end of Q4, 301 projects and 80,431 rooms are under construction throughout, while projects scheduled to start construction in the next 12 months were 156 projects/42,552 rooms, up 42% YOY by projects and 61% YOY by rooms. Projects in early planning declined to 162 projects and 32,445 rooms, down 14% YOY by projects and 10% by rooms. The luxury segment remains robust, with 179 projects and 41,508 rooms, showing a 9% YOY increase in projects and 19% in rooms. Cities with the largest pipelines are Riyadh with 87 projects and 17,584 rooms, followed by Dubai with 52 projects and 14,580 rooms. The Middle East had 70 new hotels/13,832 rooms open in 2024 with 107 new hotels and 26,261 rooms expected to open in 2025, and 124 new hotels and 23,931 rooms are forecast to open in 2026.

Radisson adds in India. Radisson Hotel Group has signed the Era Hotel Bhubaneswar, a member of Radisson Individuals in Bhubaneswar, India. The hotel is scheduled to open in the second half of 2025.