Breaking news about deals, development, data and more.
Burbank hotel refi. Nimes Real Estate has secured a $55 million bridge loan from
Peachtree Group to refinance the Hotel Amarano Burbank-Hollywood, located near
the Warner Bros. and Disney studios in Burbank, California, according to the
Commercial Observer.
Steigenberger in Berlin sold. Frankfurt-based PGIM’s real estate business has
acquired the Steigenberger Hotel am Kanzleramt in Berlin on behalf of its
European core plus strategy. PGIM has $206 billion in assets under management. Located
in Berlin Mitte, next to Berlin Central Station, the purpose-built hotel was
completed in 2014 and offers 339 rooms, a bar, breakfast restaurant, 12
conference rooms, and a wellness area.
Hox in London sold. Gibraltar-based
investor Yellow Tree has acquired the 192-room The Hoxton,
Southwark in London from British real estate
developer Norlake Hospitality for an amount reported to be around
£150 million (£781,000 per room).
H World expansion. China’s H World Group Ltd. has three JI Hotels in Kuala
Lumpur, Malaysia and Phnom Penh, Cambodia. The deal marks H World’s
debut in Malaysia. The 101-room JI Hotel Downtown Kuala Lumpur, developed in
partnership with Saadiq Tri Venture, is expected to open in Q4 2026 in the Dang
Wangi district. The 130-room JI Hotel Phnom Penh City Center, developed with Liu
Guangyu, is in the city’s central business and government district and
scheduled to open in Q2 2026. The 110-room JI Hotel Phnom Penh Mekong Riverside,
with investor Seng Leng, is scheduled to open in Q3 2026. H World has also signed a deal for the 216-room
IntercityHotel Riyadh Al Rayaan in the Kingdom of Saudi Arabia set to
open in June 2027. The hotel marks H World’s seventh IntercityHotel branded
property in the Middle East. H World operates over 12,000 hotels with more than
1.1 million rooms.
Accor grows in Italy. Accor is expanding its luxury footprint in Italy with the signing
of the 120-room Sofitel Genoa Waterfront. This project also sees the
involvement of Orion and CDS Holding SpA as investors and developers of the
Waterfront di Levante project, as well as this hotel expected to open in 2026.
IHG adds in Cairo. IHG Hotels & Resorts has signed a management agreement
with Jadeer Group for a new Hotel Indigo property in New Cairo, Egypt. The
120-room Hotel Indigo New Cairo is set to open in 2031 as part of Red (G), a
mixed-use development featuring residences, retail, and hospitality offerings. IHG
currently operates eight hotels in Egypt across four brands with a pipeline of
22 hotels scheduled to open in the coming years.