Latest news: SI Resort in Chicago; refis in DC, Nashville; Hideaway brand debuts

New SI Resort in Chicago. Travel + Leisure Co. is moving into the Virgin hotel in Chicago with its Sports Illustrated Resorts brand. Timeshare specialist Accelerated Assets acquired the asset in July for $77 million. As a conversion, the property will remain open during construction with completion of the project expected in late 2026. Sports Illustrated Resorts has previously announced locations in Tuscaloosa, Alabama, and Nashville, Tennessee.

$53M refi in DC. A joint venture ownership between Dallas-based Trammell Crow Co. and MetLife Investment Management has secured $53 million in refinancing for the 203-key The Morrow Hotel, an upscale, lifestyle hotel in Washington, D.C. JLL represented the borrower for the three-year, floating-rate loan through Peachtree Group. The property opened in November 2022.

Ashford $218M refi. Dallas-based REIT Ashford Hospitality Trust has closed on the refinancing of the mortgage loan for the 673-key Renaissance Hotel in Nashville, Tennessee. The new, non-recourse loan has a balance of $218.1 million and a two-year term, with three one-year extension options, and a final maturity date of September 2030. The loan is interest-only and features a floating interest rate of SOFR + 2.26%. The previous loan totaled $267.2 million and provided a floating interest rate of SOFR + 3.98%. In conjunction with the debt refinancing, the preferred equity investment on the property was upsized by $53 million, and the all-in rate of return on the preferred equity was reduced from 14% to 11.14%.

Hideway debuts brand. The Newbury, New Hampshire-based Hideaway Inns brand is debuting with the 55-key Hideaway Inn Mt. Sunapee in New Hampshire. The hotel was developed by Hideaway Inns and managed by Rockville Centre, New York-based Revival Hotels. Two additional Hideaway Inn properties are under development in Mt. Snow, Vermont, and Sugar Hill, New Hampshire, with expected openings by the end of 2025. The brand is targeting regional markets across the Northeast and other destinations underserved by traditional hotel offerings.

Brightpath acquires in New York. Rochester, New York-based DelMonte Hotel Group has sold the 78-key Fairfield Inn & Suites Albany Airport in Albany, New York, to Chester, New York-based Brightpath Management for an undisclosed amount. Brightpath will also operate the hotel. Hunter Hotel Advisors facilitated the transaction.

JV acquires in Tampa. A joint venture between Boston-based Rockpoint and New York City-based Newbond Holdings has acquired the 309-key Westin Tampa Waterside, the only hotel located on Harbour Island in Tampa, Florida, from an undisclosed seller for an undisclosed amount. The new owners plan to renovate guest rooms, as well as the hotel’s lobby and meeting space.

Donohoe adds 3 in Maryland. Bethesda, Maryland-based Donohoe Hospitality Services has been awarded management of a three-hotel portfolio totaling 597 rooms located throughout Maryland. The trio of properties is owned by Vienna, Virginia-based Southern Management Companies. The hotels include the 150-key Cambria Hotel College Park and the 297-key Hotel at the University of Maryland, both located in College Park, Maryland, and the 150-key Hotel at Arundel Preserve in Hanover, Maryland.

Columbia adds in Washington. Seattle-based Columbia Hospitality has added the 67-key Sleeping Lady Mountain Resort in Leavenworth, Washington, to its management portfolio. Columbia will manage all operations at the resort, as well as the property’s two restaurants.

Hyatt adds all-inclusive in DR. Hyatt Hotels Corp. has entered into a management agreement with GSM Investissements Dominicana S.R.L., the existing owner of Dreams Macao Beach Punta Cana, for the adults-only all-inclusive Secrets Macao Beach Punta Cana in the Dominican Republic. Expected to open in 2026, this new-build resort will feature 406 rooms, as well as 111 swim-out suites and 13 high-level swim-out suites.

Delaware North acquires in Texas. Buffalo, New York-based Delaware North has acquired Cactus Moon Lodge, a resort-style, special-event venue on a hilltop and surrounded by a 22-acre property in the Texas Hill Country, near Dripping Springs, Texas, outside Austin. The seller and price were not disclosed. The venue features eight cabin-style lodging units and a main lodge with a grand room, dining area and open-concept kitchen. Delaware North will operate the lodge.  

Azul adds 2 in Seattle. San Diego-based Azul Hospitality Group has added two properties in downtown Seattle to its management portfolio: the 153-key Hotel Theodore and the 160-key Mayflower Park Hotel. The hotels are owned through a joint venture of Portland, Oregon-based companies, Provenance Hotels and NBP Capital.

Providence acquires 4 in the UK. U.K.-based hotel management company Providence Hotels has acquired a lease agreement for four Mercure-branded hotels, including the Mercure Blackburn Dunkenhalgh, Exeter, Daventry and Haydock. The leases have been secured alongside a franchise agreement with Accor, allowing Providence Hotels to continue operating under the Mercure brand.

IHG adds in France. IHG is partnering with Danish real estate company Proark to sign the 250-key Crowne Plaza Paris - Marne-la-Vallée. The hotel is expected to be fully converted in the second half of 2026 and is just 10 minutes from Disneyland Paris.