SCANDIC STRENGTHENS
HELSINKI POSITION WITH TWO NEW HOTELS. Stockholm-based
Scandic Hotels has signed lease agreements with landlord Projekti GH Oy for two
hotels in Helsinki, Finland. The dual-branded project, a 232-room Scandic Go,
an economy brand for the company, and a 227-room Scandic hotel, is expected to
open in 2028. They will be located in Garden Helsinki, a multi-functional event
arena in the city in the Töölö district and a destination for sports,
entertainment, restaurants, office space and apartments. When the hotels open,
Scandic will be the exclusive hotel operator for Garden Helsinki, one of
Finland’s largest urban development projects. According to the release, the
Helsinki region is expected to generate about 5 million hotel nights by 2026.
MISSION HILL ACQUIRES BRECKENRIDGE HOTEL. Denver-based hotel
investor Mission Hill Hospitality has acquired the 129-key Residence Inn by
Marriott in Breckenridge, Colorado. Terms of the deal were not disclosed. It marks
the company’s third acquisition in Colorado, following two purchases in Steamboat
Springs earlier this year. Mission Hill’s portfolio now includes 33 hotels
across 16 states. Opened in 2016, the Residence Inn Breckenridge is among the
area’s newer hotels and is located in the city’s downtown district. It is a
short walk from the QuickSilver Super 6 Chair Lift at Breckenridge Ski Resort
and is serviced by the local ski area shuttle.
PEACHTREE GROUP DEPLOYS $1.1B IN LOANS, REVISES BRANDING. Atlanta-based
commercial real estate investment company Peachtree Group announced that it has closed $556 million in loan originations of the $1.1 billion the
company has deployed to date. The remaining $526 million was used to acquire five
hotels (totaling 677 keys) and start three new hotel development projects
(totaling 621 keys.) The largest credit transaction Peachtree has completed
this year is a $47.9 million first mortgage loan for the construction of a
215-key Autograph Collection hotel in Huntsville, Alabama, which is expected to
open next year. The company also announced it is revising its corporate branding,
including a new logo, and has consolidated all affiliated brands under the
Peachtree Group umbrella. With the change, Stonehill will now be known as Peachtree Group Credit,
and Peachtree Hospitality Management will be known as Peachtree Group
Hospitality Management.
Anne-Marie D’Angelo is the new general counsel at Hilton.
HILTON NAMES D’ANGELO AS NEW GENERAL COUNSEL. McLean, Virginia-based
Hilton has named Anne-Marie D’Angelo as executive
vice president and general counsel, effective September 15. She most recently
served as chief legal and government affairs officer at Molson Coors Beverage Co. and has held general counsel and other leadership roles at several public
companies, including NiSource and Global Brass and Copper Holdings.
D’Angelo will report to Hilton president and CEO Christopher Nassetta and
serve on the executive committee. She succeeds general counsel Kristin
Campbell, who will retire later this month after 12 years with Hilton.
CRESCENT ADDS LE MERIGOT SANTA MONICA. Virginia-based Crescent Hotels & Resorts announced the addition of Le Merigot Santa Monica to its Latitudes: Lifestyles by Crescent management portfolio. The Le Merigot Santa Monica has 175 keys and is just steps from the Santa Monica Pier. Crescent operates hotels and resorts with over 120 properties in the U.S. and Canada.
ENNISMORE SIGNS SECOND MAMA SHELTER. London-based Ennismore, along with partner Shivrom LLC, have signed the 149-key Mama Shelter Downtown LA in the Fashion District, which is set to open in 2026 as the second of the brand in the city. Shivom is led by Harry and Kevin Wadhwani, who will partner with Sammy Chotirmal of Hospitality Solutions to adapt the existing Mart South Building to the hotel.
CLASSIC HOTELS & RESORTS REBRANDS. Phoenix-based Classic Hotels & Resorts has rebrand to Marc & Rose Hospitality. The company currently operates 14 hotels and restaurants throughout the Southwest, including the Arizona Grand Resort & Spa, High Country Motor Lodge, Hotel Carmel, and Laguna Beach House, among others. Over the coming year, Marc & Rose will reintroduce two of its longest-held properties in California: La Playa Hotel in Carmel-by-the-Sea and The Inn at Laguna Beach. The company also said it is expanding its High Country Motor Lodge brand across the West Coast.
BLACKSTONE BUYS WELLNESS RESORT. New York-based asset management company Blackstone has notified the Portuguese competition authority that it has purchased the Cascade Wellness Resort in Lagos via a Luxembourg-based subsidiary Magma Pledgeco. The Cascade Wellness reopened in 2019 after being repositioned, refurbished and extended in a two-year project that cost €6 million. Located on top of a cliff at Ponto da Piedade in Lagos, the resort is close to the Dona Ana beach and has 108 rooms and suites, 58 apartments and 4 villas, and three restaurants and two bars.
DUSIT EXPANDS ITS BRAND LINEUP. Bangkok-based Dusit International has launched two new brands: Dusit Collection and Devarana – Dusit Retreats. The Dusit Collection will serve as a soft brand for standalone properties and focus on the upper upscale and luxury segments. The other new brand is reimagining its former luxury brand, Devarana, and will be positioned in the ultra-luxury segment. Dusit is rebranding one of its existing properties in China for this new brand, slated to open in October. The company plans to sign multiple hotels for this brand by the end of 2023. Dusit’s current portfolio has 55 hotel and resort business properties and over 240 luxury villas in 19 countries. Dusit said it has more than 60 hotels in the pipeline and 22 more signings targeted this year.
GRUPO PESTANA BUYS VILA SOL RESORT. Portugal-based Grupo Pestana has purchased the Vila Sol resort in Vilamoura from Santander Asset Management for around €43 million. Grupo Pestana said it will manage the resort. Real estate consultants JLL, CBRE and Worx, which acted for Santander Asset Management in the operation, announced the deal last week. The Pestana Vila Sol has 189 keys, two golf courses and a parcel of land with approximately 83,636 square feet for development.
SPORTS ILLUSTRATED RESORTS TO OPEN COLLEGE TOWN CONCEPT. Orlando-based Travel + Leisure Co. is opening a new concept for its Sports Illustrated brand resorts that will open in college towns. The first will be in Tuscaloosa, AL, across from the University of Alabama, and is expected to open in late 2025. The first Sports Illustrated Resort opened in 2022 in Cap Cana in the Dominican Republic. Travel + Leisure Co. also plans to open a line of fractional and wholly owned condominium residences and a vacation club under the same brand name.
I-BERHAD PARTNERS WITH WYNDHAM FOR LUXURY CONDO. Malaysian developer I-Berhad is partnering with Wyndham Hotels & Resorts for its RM820 million GDV luxury condominium development in Kuala Lumpur City Centre. The 50-story residences at Zone 1 KLCC will now be known as Wyndham Suites KLCC.