Latest news: Waldorf Pompano's loan; Avid's 80th; Dreamscape adds in Wisconsin

$160M loan for Waldorf residences. Miami-based Related Group and Fort Lauderdale, Florida-based Merrimac Ventures have closed $160 million in construction financing from Bank OZK for Waldorf Astoria Residences Pompano Beach. Set on two acres on the oceanfront in Pompano Beach, Florida, the development will offer 92 condominium homes and will be Waldorf Astoria’s first-ever standalone residential development. Over 70% of the homes are already under contract and construction started in April, with completion expected in late 2027.

Avid opens 80th hotel. Avid hotels by IHG is partnering with Westcor JD Royal Hospitality to open its 80th property with avid hotel Coralville – Iowa City. This marks the brand’s second property in Iowa and fourth dual-branded avid and Candlewood Suites in the U.S., following the prototype’s launch in 2021. As IHG’s second-largest contributor to system size, avid hotels has 131 hotels in the pipeline.

Dreamscape adds in Wisconsin. Dallas-based Dreamscape Hospitality added the 107-key Holiday Inn Express & Suites Milwaukee – West Allis in Wisconsin to its management portfolio.

Staypineapple names COO. Bellevue, Washington-based Staypineapple has promoted Bob Spear to COO. Spear was formerly senior vice president of operations and has been with the company for nearly five years. His career spans decades in hospitality, including 25 years with Marriott Vacations Worldwide, and he has also worked for The VOID, a virtual reality company.

Bellyard secures refi in Atlanta. Atlanta-based Bellyard has secured the refinancing for a 161-room Marriott Tribute Portfolio hotel located in Atlanta’s West Midtown district for an undisclosed amount. The hotel opened in 2021 and is part of The Interlock, a $450 million mixed-use-development by SJC Ventures. Patterson Real Estate Advisory Group arranged the loan through Greenwich, Connecticut-based LoanCore Capital on behalf of the borrower, Bellyard Partners LLC, the hotel’s ownership entity comprising West 14th Hospitality LLC and Atlantic American Partners.

H World debuting in Laos. Singapore-based H World Group Ltd. is debuting in the Laotian market by signing four management agreements. The new properties in Vientiane and Luang Prabang will be developed in collaboration with three investment partners: Lao Kunpeng Industrial Co., Ltd., Yuting Hotel Investment Management Co., Ltd., and KP Construction Sole Co., Ltd. The hotels include the Intercity Hotel Vientiane, which is scheduled to open in early 2026; the Intercity Hotel Luang Prabang, which is expected to open in 2027; the JI Hotel Vientiane Mekong Riverside, which is scheduled to open in early 2026; and the Orange Hotel Vientiane International Airport, which is expected to open in Q3 2026. This project represents the global debut of the Orange Hotel brand outside China.

Oasis Tour bookings in UK. With less than a month until the band Oasis’s 2025 tour kicks off, Cardiff shows the highest hotel booking levels at nearly 90%, according to CoStar data. The European leg of the tour runs from early July through mid-August. As of June 2, Cardiff reported its highest occupancy on the books for concerts on July 4 (89.0%) and July 5 (77.8%) at Principality Stadium. At the same time last year, Cardiff’s levels for those nights were 51.2% and 47.1%, respectively. Manchester’s highest occupancy on the books is on July 19 (67%), while in Edinburgh and Dublin, booking levels have climbed as high as 73.6% (August 8) and 74.5% (August 16).

Scandic adding in Sweden. Stockholm-based Scandic Hotels is partnering with Lima, Sweden-based Lima Besparingsskog to expand its presence in Sweden with a new property in the ski resort area of Sälen. The hotel, currently under development, will feature 120 rooms and 16 apartments, along with conference facilities.