Latest news: Miyako adds in Texas; Nobu to Montenegro; Meliá’s first US branded residence

Miyako adding in Texas. Miyako Hotels & Resorts, a subsidiary of Japan-based Kintetsu Group Holdings, is breaking ground on its third U.S. hotel and its first in Texas with the 256-key Miyako Hybrid Hotel Plano. The $117.5 million project will rise on land once part of the former JCPenney corporate campus in Plano, Texas, which Kintetsu acquired in 2019. The location is adjacent to the U.S. headquarters for Toyota Motor North America, which is also located in Plano in the city’s burgeoning Legacy West development.

Nobu adds in Montenegro. Miami-based Nobu Hospitality is partnering with Sea Breeze Resort to open a Nobu Hotel, Restaurant, and Residences Montenegro. This development will feature an 80-key Nobu Hotel, 100 private residences, and five bespoke villas, all centered around a signature Nobu restaurant.

Big London refi. U.S.-based investors and lenders King Street Capital Management and Cohort Capital have provided a £348 million senior loan facility to support the refinancing of the 271-key, freehold Park Tower Hotel in London’s Knightsbridge district owned by Emirati businessman Mahdi Al Tajir. Funds managed by Apollo also participated in the financing of the loan previously provided by London-based Cale Street Partners. The transaction will support in optimizing and repositioning the 16-story landmark asset and builds on King Street’s existing partnership with the property’s long-term owners. The business plan leverages the new lenders’ experience with integrated residential and retail components.

Meliá’s first US branded residence. Palma de Mallorca, Spain-based Meliá Hotels International is partnering with Miami-based Urban Network Capital Group to make its Miami debut with 110-key Meliá Miami Brickell, which will be the company’s first branded residences in the U.S. Meliá has already implemented this concept at the ME Dubai and Gran Meliá Villa Le Corail in Vietnam, and is currently developing similar projects in Seychelles and Budva, Montenegro.

Swire adds new brand. Hong Kong-based Swire Hotels has unveiled Upper House, a global brand that unites its House Collective properties and signals a new phase of international growth. The move also includes the brand’s first branded residences project in Bangkok, Upper House Residences, which is set to debut in 2030. Building on the success of Upper House Hong Kong, existing Houses in Hong Kong, Chengdu and Shanghai will all be renamed Upper House. Future openings in Shenzhen, Xi’an, Tokyo and Bangkok will follow this unified approach. Upper House will also introduce the brand’s philosophy to residential living in Bangkok in 2030 with Upper House Residences, marking a major brand expansion and the brand’s debut in Southeast Asia.

US hotels mixed last week. The U.S. hotel industry from October 5-11 reported mixed year-over-year comparisons, according to CoStar data. Occupancy was 69.1% (-1.9% YOY), ADR was $171.88 (+2.6% YOY), and RevPAR was $118.75 (+0.6% YOY). The Yom Kippur calendar shift had a positive impact on the latter half of the week. Among the top 25 markets, San Francisco reported the highest increases in occupancy (+11.8% to 80.2%) and RevPAR (+24.7% to $183.88). The market’s performance was helped by Fleet Week. New York City posted the largest lift in ADR (+11.9% to $441.34) and was the only market to see the metric exceed $400. The steepest RevPAR declines were recorded in Las Vegas (-21.3% to $178.82) and New Orleans (-18.7% to $120.47).

Florida hotel sells. Bethesda, Maryland-based Meridian Club LLC has sold the 67-key Hampton Inn St. Augustine in Florida to Orlando-based QDI 5 LLC for $9.6 million, according to the Jacksonville Business Journal.

Minor adds in Australia. Bangkok-based Minor Hotels is partnering with Toowoomba, Australia-based KPAT Hotels to open its Avani brand hotel in Mooloolaba Beach, Queensland, Australia, in April 2026. KPAT is responsible for the development, ownership, and operation of the 12-story, 180-room hotel under a franchise agreement with Minor Hotels. Avani Mooloolaba Beach hotel will be the first internationally branded new-build hotel on the Sunshine Coast in almost 40 years.