Breaking news about deals, development, data and more.
SF last week’s star. The U.S. hotel industry from October
12-18 reported mixed year-over-year comparisons, according to CoStar data. Occupancy
was 68.5% (-2.4% YOY); ADR was $173.14 (+1.7% YOY); and RevPAR was $118.65
(-0.7% YOY). Among the Top 25 Markets, San Francisco reported the highest
increases in each of the three key performance metrics: occupancy (+10.2% to
83.4%), ADR (+68.1% to $368.79) and RevPAR (+85.3% to $307.40). The market’s
performance was lifted by Dreamforce 2025. Tampa recorded the largest
occupancy drop (-23.2% to 63.5%), due to the elevated displacement demand
period that followed Hurricane Milton in 2024. Miami saw the steepest
declines in ADR (-27.2% to $178.62) and RevPAR (-32.7% to $120.96). The
decreases were due to a comparison against Taylor Swift’s Eras Tour dates and
Adobe MAX 2024.
Duo sells in St. Pete’s. Loci Capital Group and Highline Hospitality sold
the 227-room Hilton St. Petersburg Carillon Park, a 227-room, nine-story hotel
located in the Carillon Business Park submarket of St. Petersburg, Florida. The
Birmingham Business Journal reports the hotel traded for $37.3 million, or
$164,000 a room. The property last sold in 2021 for $31.7 million. Highline
Hospitality Partners recently purchased the 510-room Hilton Atlanta Airport for
$111.3 million.
Kimpton deal for Austria. IHG Hotels & Resorts signed a
deal with tristar Austria GmbH to develop the 119-room Kimpton Salzburg. The
hotel marks the luxury lifestyle brand’s entry into the Austrian market.
Expected to open in mid-2028, Kimpton Salzburg will expand the Kimption
portfolio in Europe to 12 open and a further six in development. Kimpton
Salzburg will form part of a redevelopment project led by Midstad with the
hotel joining a number of high-end retail units and other shops. IHG now has more
than 5,000 rooms open and in development across the DACH region.
Homewood sale in Stratford. Jamsan Hotel Management has
acquired the 135-key Homewood Suites by Hilton Stratford in Stratford,
Connecticut, from an institutional seller. The price was not disclosed. Hunter
Hotel Advisors brokered the deal.
Accor adds in Dubai. Accor has signed a deal with Dubai Duty
Free to develop the 292-room Creekside Hotel in Dubai. The franchised hotel
will be operated by United Hospitality Management. The hotel will join the
Accor network under a white label before being fully repositioned and added to
the MGallery Collection following a detailed renovation plan. Accor currently
operates more than 85 hotels in the UAE across a diverse array of brands.
Lux Collection to Bali. The Lux Collective and Big Waves
Development have signed a strategic management agreement for Salt of Virgin
Beach, a new eco-conscious resort located in Bali’s Karangasem region set
to open in Q1 2028. The deal marks The Lux Collective’s first entry
into Indonesia through its conscious luxury brand Salt.