Latest news: Battle over Goodtime; US up again last week; buyer named in New Mexico

Battle for Miami Beach hotel. Los Angeles-based CIM Group is escalating its legal war with the owners of 266-key Goodtime Hotel in Miami Beach, Florida, and filed a $149.3 million foreclosure complaint to seize the property, according to a story in the Real Deal. On January 27, an affiliate of CIM sued an entity managed by Eric Birnbaum and Michael Fascitelli, who control New York-based Imperial Companies, for allegedly failing to live up to forbearance agreements since 2024 when the entity stopped making regular interest payments on a $152 million loan. The developers also allegedly did not pay off the debt when it matured the same year. Birnbaum and Fascitelli bought the hotel for $36 million in 2015. Goodtime Hotel’s ownership entity owes roughly $149.3 million, plus accrued and default interest, late fees, costs and any advances under the loan documents, according to the foreclosure complaint.

US hotels up last week. The U.S. hotel industry posted year-over-year gains, according to the latest data from CoStar. For the week of March 15-21, occupancy was 67.7% (+2.7%); ADR was $169.02 (+2.2%) and RevPAR was $114.44 (+4.9%). Among the top 25 markets, Denver reported the largest increases in occupancy (+19.1% to 73.2%) and RevPAR (+30.7% to $104.94). The market’s performance was helped by the APS Global Physics Summit. March Madness host St. Louis posted the highest ADR gain (+15.5% to $137.38) and the second-largest RevPAR lift (+29.6% to $99.13). Overall, 18 of the Top 25 Markets saw RevPAR rise.

Buyer named for New Mexico hotel. An affiliate of Artesia, New Mexico-based Abo Empire is the buyer of the 157-key La Posada De Santa Fe in Santa Fe, New Mexico. Crescent Hotels & Resorts was recently selected to manage the property. Dallas-based REIT Ashford Hospitality Trust recently sold the hotel for $57.5 million. Hunter Hotel Advisors brokered the transaction.

Rebrand in Santa Barbara. Beverly Hills, California-based Hawkins Way Capital has renovated and rebranded the Best Western Plus Pepper Tree Inn in Santa Barbara to the 150-key Found Hotels, Santa Barbara, Series by Marriott. The opening builds on the strategic partnership announced last September between Hawkins Way and Marriott to convert six properties to Found Hotels, Series by Marriott.

Controversial ICE hotel rebrands. A former Hampton Inn in Lakeville, Minnesota, that became a national flashpoint earlier this year for refusing to sell rooms to federal immigration officers (and then losing its affiliation with Hilton) has changed its name, according to a story in the Minneapolis/St. Paul Business Journal. The hotel has remained open and has a new sign touting its new name — Lakeville Inn — according to the story.  The property is owned by Lakeville Hotel LLC, an affiliate of Everpeak Hospitality, which is led by Parmjit Singh, Amanpreet Hundal, Karandeep Nagra and Mohinderjeet Kaur. The owners acquired the hotel last August for $11.9 million.

Waldorf coming to Jakarta. Jakarta-based PT Putragaya Wahana has secured an undisclosed investment from Abu Dhabi Fund for Development for the Waldorf Astoria Jakarta in Indonesia. The hotel is scheduled to open in 2027 as the capstone of the Autograph Tower within Thamrin Nine, a mixed-use development in central Jakarta. JLL advised on the transaction.

First LXR in Greece. Hilton is reopening the 66-key Sandblu Santorini in April, which will be LXR Hotels & Resorts’ first hotel in Greece. The hotel adds to LXR Hotels & Resorts’ growing global portfolio of nearly 40 trading and pipeline properties. The opening will be closely followed by the brand debut of Conrad Hotels & Resorts, with the arrival of Conrad Athens The Ilisian, including Conrad and Waldorf Astoria Residences and Conrad Corfu in the coming months.

NZ hotel joins collection. Singapore-based Millennium Hotels and Resorts said that The Mayfair Hotel Christchurch in New Zealand has joined Leng’s Collection, its curated portfolio of boutique hotels. The addition of The Mayfair marks the first Southern Hemisphere property in the collection and the fifth addition globally, alongside properties in London, Liverpool, Rome and Anchorage.

More visitors for NYC. Domestic travelers helped New York City record a slight increase in visitors in 2025, offsetting a drop in international visitation. Destination marketing organization NYC Tourism + Conventions said 65 million visitors arrived in 2025, a 0.7% increase. There were 52.4 million domestic visitors, a 1.7% increase. Top source markets were the New York City tristate area, as well as Philadelphia, Washington, Los Angeles and Boston. Overnight domestic trips, which account for just over half of all domestic visitation, rose 2.3%. International visitation, however, slipped 3.2% to 12.5 million visitors, even as arrivals from the U.K., Italy and Mexico rose. NYC Tourism said there were “global challenges,” but that the decline was smaller than previously forecasted.

Radisson plans 100 net-zero hotels. Radisson Hotel Group plans to roll out a global net-zero emissions hotels program and add 100 properties to the portfolio by 2030, the company announced this week. Radisson's Verified Net Zero (VNZ) Hotels program began in 2025 as a proof-of-concept at two properties – one in Manchester and another in Oslo – to show that existing hotel buildings could be made carbon-neutral. This year, the program will expand to Norway, Denmark, Sweden and South Africa. During the next five years, Radisson plans to add VNZ properties in other countries, including Germany, Austria and Spain's Canary Islands.

Canadian hotels up in February. Canada’s hotel industry reported a second consecutive month of year-over-year performance increases in February, according to CoStar. For the month, occupancy was 57.9% (+0.2%); ADR was CAD197.05 (+4%) and RevPAR was CAD114.18 (+4.2%). Among the provinces and territories, Manitoba registered the largest increases across all three key performance metrics: occupancy (+7.6% to 66.8%), ADR (+7.8% to CAD178.28) and RevPAR (+16% to CAD119.17). Among the major markets, Vancouver saw the largest increases in occupancy (+3.7% to 73.8%) and RevPAR (+7.8% to CAD166.24). Despite reporting the steepest decline in occupancy (-7.2% to 63.8%), Toronto posted the highest ADR gain (+7.2% to CAD229.48).

Spanish hotel trades. Spanish REIT Atom Hoteles SOCIMI has sold the 223-key Eurostars Las Salinas on Fuerteventura in the Canary Islands, Spain, to an undisclosed buyer for €51 million, according to HVS. Last week, Atom Hoteles also sold the 85-key AC Hotel Ciutat de Palma in Palma de Mallorca.

Finareal acquires 2 in France. France-based Finareal has acquired the 138-key Crowne Plaza Marseille Le Dome and the 87-key Hotel Indigo Cagnes-sur-Mer in France from a Bordeaux-based real estate company owned by the French Ptito family for an undisclosed amount, according to HVS. Both hotels include a restaurant and meeting rooms and will be operated by French operator HPVA Hotels under franchise agreements with IHG.