Latest news: Mandarin Residences in Florida; $16.3M refi for Ceres; Chicago redevelopment

Mandarin Oriental Residences in Florida. Mandarin Oriental and investment partner Great Gulf out of Toronto are developing the Mandarin Oriental Residences, West Palm Beach, the company’s first standalone residential offering in South Florida. The 31-story development will have 87 residences and is scheduled to open in 2031. 

$16.3M refinance for 2 in the Midwest. Westlake, Ohio-based Ceres Enterprises has secured a $16.3 million refinancing and financial restructuring for two Wyndham hotels totaling 245 keys in Avon, Ohio, and Noblesville, Indiana. Cleveland-based Brown Gibbons Lang & Company served as the financial advisor for the transaction, with American Bank N.A. providing the bridge financing. The bridge financing retires maturing construction financing, along with the prepayment of an SBA loan.

Rebrand in Atlanta. The W Atlanta Downtown hotel, which recently went through a foreclosure sale, will rebrand as a JW Marriott, according to The Atlanta Journal-Constitution. Operator Stonebridge Cos. said the 237-property will be reimagined. Ashford Hospitality Trust acquired the hotel in 2015 for nearly $57 million with a Stonebridge subsidiary buying the property for $24.8 million.

Redevelopment in Chicago. Chicago-based Celadon Partners will spend an estimated $100 million redeveloping the Hotel Florence, a 145-year historic hotel in Chicago’s Pullman neighborhood, according to a story in the Chicago Sun-Times. The surrounding area will also be rehabilitated. “We are breathing new life into this incredible site, while preserving a treasured part of Illinois history,” Illinois Gov. JB Pritzker said at an event announcing the project.

PM rebranding in DC. Chevy Chase, Maryland-based PM Hotel Group is rebranding the Hotel Arboretum in Washington, D.C., to City Express by Marriott Washington, DC Northeast. The property is owned by Rocks Hospitality.

IHG adds in Thailand. IHG Hotels & Resorts is partnering with AssetWise Public Co. Ltd. and its subsidiary Rhom Bho Property Public Co. Ltd. to sign the 170-key Hotel Indigo Phuket Nai Yang Beach in Thailand. IHG had almost 100 open and pipeline hotels in Southeast Asia and Korea. IHG has 37 other properties in Thailand, which is set to extend the company’s presence in the country to more than 80 hotels within the next three to five years.

Minor adds Anantara to Australia. Minor Hotels is partnering with Golden Sedayu, a partnership between Perth’s Golden Group and Agung Sedayu, to bring its luxury Anantara brand to Australia with the signing of the 150-key Anantara Perth Hotel. The hotel will anchor the AUD$3.8 billion Burswood Point master-planned development and is scheduled to open in 2032. The Anantara Perth joins a global collection of over 50 Anantara properties.

Canada hotels up in January. Canada’s hotel industry in January reported its highest year-over-year occupancy increase since last July, according to the latest data from CoStar. Occupancy was 51.5% (+3.1% YOY), ADR was CAD188.98 (+4.7% YOY), and RevPAR was CAD97.35 (+7.9% YOY). Among the provinces and territories, Manitoba reported the largest increases across all three key performance metrics: occupancy (+11.9% to 59.6%), ADR (+9.0% to CAD175.84) and RevPAR (+21.9% to CAD104.83). Among the major markets, Edmonton registered the highest gains in ADR (+7.1% to CAD152.46) and RevPAR (+12.6% to CAD77.36). Vancouver saw the largest occupancy lift (+6.9% to 64.5%).

Marriott’s growth in EMEA. Marriott International in Europe, the Middle East & Africa (EMEA) in 2025 signed more 230 hotels representing over 31,000 rooms. Marriott also added 170 properties and nearly 24,000 rooms across EMEA last year, contributing to a 7.8% net room growth in the region. The company’s EMEA region ended the year with a pipeline of over 600 properties and nearly 113,000 rooms. Germany, Italy, Saudi Arabia, the United Arab Emirates, and the United Kingdom were the highest growth markets, accounting for the most signings for the company across the region in 2025. Conversions and adaptive reuse projects continue to drive significant growth for the company in the region and account for nearly 50% of the region’s signings this year.

Ryman issues $700M senior notes. Nashville-based REIT Ryman Hospitality said its subsidiaries, RHP Hotel Properties, LP and RHP Finance Corp. intend to offer, in a private placement, subject to market and other conditions, $700 million aggregate principal amount of senior notes due 2034. The issuers intend to use the net proceeds of the offering, together with available cash, to redeem in full the Issuers’ 4.75% senior notes due 2027, including accrued and unpaid interest on the 2027 notes and related fees and expenses.