The
latest on development, M&A and more, including news from IHG, B&B, Hilton and Radisson.
Sun Ventures buys
first hotel. Singapore-based Sun Ventures has acquired its first
hotel with the acquisition of the 280-key Hyatt Place London City East from
London-based Resolution Property for an undisclosed price. Amsterdam-based
Cycas Hospitality will continue to manage the property. The hotel is an office
conversion and opened in June 2021. According to CoStar, Resolution acquired
the property in September 2020. JLL acted for the seller in the transaction.
Six Senses resort coming to South Carolina. IHG Hotels &
Resorts announced that the Six Senses is adding a property in South Carolina
with the Six Senses South Carolina Islands, which will open in 2026 across
multiple locations. The 460-acre resort, spa and residential community will have
locations on Hilton Head Island, Daufuskie Island and Bay Point Island. Irving,
Texas-based Whitestone Hospitality Management will manage the properties. Six
Senses operates 25 hotels and resorts worldwide, with 42 more in its pipeline.
B&B Hotels makes U.S. debut. Brittany,
France-based B&B HOTELS is making its U.S. debut with the opening of the
218-key hotel in Orlando, Florida. B&B collaborated with Luxembourg-based
Batipart on the property, which is scheduled for further renovation. B&B
CEO Fabrice Collet said the company aims to reach 3,000 hotels in the next
decade.
LE: Global construction hits new high. The global hotel
construction pipeline hit an all-time high for project counts in the fourth
quarter of 2023, according to the latest data from Lodging Econometrics. The
global pipeline stands at 15,196 projects and 2,367,727 rooms, representing a 7%
increase in projects and a 3% increase in rooms year-over-year. There are 6,160
projects and 1,096,748 rooms currently under construction worldwide in Q4, a 2%
increase by projects YOY. Projects scheduled to start construction in the next
12 months stand at 3,850 projects and 536,588 rooms, a 7% increase by projects
and a 5% increase by rooms YOY. Projects and rooms in the early planning stage
are at all-time highs and stand at 5,186 projects and 734,391 rooms, increasing
12% and 6% YOY. The renovation and conversion pipeline globally is the highest
it has ever been, at 3,291 projects and 510,584 rooms at the end of 2023. The
U.S. leads the projects by county with an all-time high of 5,964 projects and
693,963 rooms, representing 39% of total projects globally. China is second,
with an all-time high of 3,788 projects and 691,772 rooms. Three of the top
five cities globally are in the U.S., with No. 1 Dallas (193 projects/22,291
rooms), No. 2 Atlanta (151 projects/18,730 rooms), and No. 5 Nashville (123
projects/16,148 rooms). Globally, in 2023, 1,978 new hotels and 292,380 rooms
opened. LE analysts forecast an additional 2,550 new hotels and 389,799 rooms
to open in 2024.
Radisson first serviced apartments in UK. Radisson Hotel
Group is planning its first serviced apartments in the UK with the signing of
the Radisson Hotel & Serviced Apartments Glasgow, which is scheduled to
open in Scotland in 2027.
Hilton adds first Curio Collection in Vietnam. Hilton is adding
its first Curio Collection property in Vietnam with the opening of the 197-key
La Festa Phu Quoc in Phu Quoc. There are 160 Curio Collection by Hilton
properties around the world.
Swiss-Belhotel adds in Indonesia. Swiss-Belhotel
International says it will launch several new properties in Indonesia this
year, including Jakarta, Indramayu, Yogyakarta, Bali, Labuan Bajo, and Ambon.
The properties will add to its current portfolio of 81 hotels and resorts
across 48 cities in the country.