Latest news: Mixed week in US; CMBS strength; Wyndham rebrand in Singapore

US mixed last week. The U.S. hotel industry from March 30 to April 5 reported mixed year-over-year comparisons, according to CoStar data. Occupancy was 63.8% (-0.6% YOY); ADR was $160.18 (+1.4% YOY); and RevPAR was $102.21 (+0.8% YOY). Among the Top 25 Markets, San Francisco saw the largest occupancy increase (+13.2% to 67.5%). Las Vegas reported the highest gains in ADR (+36.4% to $223.53) and RevPAR (+44.6% to $188.76). The largest RevPAR drops were seen in Phoenix (-18.8% to $150.60) and Anaheim (-10.8% to $131.60).

CMBS strength. Trepp research reported that the U.S. CMBS market private-label issuance increased 107% in 1Q25 to $36.93 billion. Conduit issuance rose to $10.33 billion, up from $5.66 billion in 1Q24. Lenders showed more confidence in office properties, which accounted for 16.5% of originations (vs. 14.65% a year ago), as well as hotels (14.6%, up from 11.14%).

Graduate to Syracuse. Syracuse University has selected Graduate by Hilton as the brand partner for its 200-room hotel development on University Avenue due to open in the fall of 2027. The announcement follows the university’s conversion of the former Sheraton Syracuse University Hotel & Conference Center into Orange Hall and builds on the University’s acquisition of the Hotel Skyler Syracuse, part of Hilton’s Tapestry Collection. The university has engaged The Hardy Group to serve as project manager, with DLR Group selected as designer and LeChase serving as construction manager. The university is in the process of selecting a third-party operator for the hotel.

More trouble for LuxUrban. Miami-based LuxUrban Hotels portfolio has been reduced to six hotels, all in New York City, after relinquishing this month the 210-room Hotel 57 in New York that it had subleased from Apple Hospitality REIT, according to a Bisnow report. The report said an affiliate of Apple Hospitality sued to eject LuxUrban from the property last year, alleging it didn’t pay $11.7 million in rent and $2.3 million in union benefit funds. The suit was settled on April 3 with the REIT waiving its claims in exchange for regaining control of the property. LuxUrban has also been ejected from Manhattan’s 118-room The Blakely, owned by BD Hotels.

Accor adds in Portugal. Accor and real estate investor Propreal Capital Partners signed a deal for the 132-room Sofitel Porto in Portugal, set to open in 2028. This marks the second collaboration between Propreal and Sofitel, following the Sofitel Barcelona Skipper. The Sofitel Porto will be a flagship for the brand in the Iberian Peninsula, marking Accor’s first luxury hotel in Porto and its second Sofitel in Portugal. Accor already operates several hotels in the city under the Novotel, Mercure, and ibis brands.

New aesthetic for MOHG. Mandarin Oriental Hotel Group has refined its visual identity marked by a modernized fan logo, simplified wordmark and bespoke typography accompanied by an enriched color palette. MOHG said alongside its classic palette of black, white and gold, the introduction of Celadon Green – inspired by the prized, green-glazed ceramics holding significant historical and cultural importance in both China and Thailand – is being used to reinforce the group’s connection to artistry and heritage, while embodying a sense of serenity and refined luxury.

voco to Turkey. IHG Hotels & Resorts has signed the first voco hotels in Turkey, joining 12 pipeline properties across six brands in the country and 19 voco hotels in Europe. The 120-room voco Antalya Konyaaltı, in partnership with Pınarlar Kurumsal Hizmetler Turizm A.S, is expected to open in summer 2025. The signing follows IHG’s first announced Garner Hotells in Istanbul and the entry of the Vignette Collection with Istanbul Karaköy. IHG has 33 open hotels in Turkey across five brands.

Nobu deal in Muscat. Nobu Hospitality announced the launch of the 80-room Nobu Hotel, Restaurant, and Residences Muscat, Oman, on Yiti Beach. The development marks Nobu's second collaboration with partner Enevoria Development, following the announcement of Nobu Hotel, Restaurant, and Residences Al Marjan Island. The project will be developed in partnership with the Oman Tourism Development Co., the government's executive arm for tourism development in Oman. Nobu also has projects underway in the UAE, Egypt, and Saudi Arabia.

Wyndham rebrand in Singapore. The Peninsula Excelsior Singapore Hotel has been rebranded as the Wyndham Singapore Hotel following a S$50 million transformation. Now positioned as an upper-upscale destination, 591 rooms are newly refurbished. The lobby has been reimaged with a new executive lounge and dining concepts. Enhanced facilities, include two swimming pools, versatile event spaces, and expanded business and leisure amenities.

Ascott growing in India. The Ascott Ltd., the lodging business unit wholly owned by CapitaLand Investment (CLI), announced it plans to double its portfolio in India to 12,000 units by 2028, up from about 5,500 units at the end of 2024. Ascott signed deals in Goa, Lucknow and Thanjavur under its Oakwood brand during the first quarter, adding 600 units. It now has 22 properties there, including both operating and in the pipeline. Ascott expects to grow its operational portfolio in India by almost 60% in 2026, expanding from the current seven to 11 properties. This includes the debut of Ascott Ireo City Gurugram, marking the inaugural property under the company’s namesake Ascott brand in the market. Ascott said also plans to introduce its lyf, Crest Collection and Unlimited Collection brands for next-gen travelers.

London's resilience. Consultancy Newmark’s inaugural London Hotels report underscores the durability of the market with RevPAR at luxury hotels outperforming the Consumer Price Index by 8.1% in the last 10 years. It said U.S. leisure travel is up 75% since the pandemic, backfilling corporate travel demands. London remains the second highest occupancy of all major cities in the world, even with corporate travel being 19% below pre-pandemic levels. Fully, 75% of 2024 transactions were portfolios. Leisure/tourism and visiting family and friends accounts for 75% of hotel guests, with business travel accounting for approximately 25%. The U.S. is the biggest spender at £221 spend per head per night, with the EU and China following at £142. Newmark said business rates remain a key point of discussion as 3- to 5-star hotels could go up by 220%, while budget hotels could go up by 290%.