Breaking news about deals, development, data and more.
Peachtree’s 4th EB-5 hotel. Peachtree Group has
received its I-956F approval from U.S. Citizenship and Immigration Services,
the government agency that oversees the EB-5 Immigrant Investor Program, for
The Scoundrel, a Tribute Portfolio by Marriott hotel currently under
construction in Gatlinburg, Tennessee. Peachtree originated $40 million in
floating-rate construction financing over a four-year term for the development
of the 133-room Scoundrel expected to be completed by mid-2027. This is the
fourth hotel development for which Peachtree has received I-956F approval.
Extended-stay outperforms. Extended-stay hotel performance
metrics mostly outperformed comparable classes of all hotels in Q3 2025
compared to the third quarter 2024, according to The Highland Group.
Extended-stay hotels’ occupancy premium stayed at 11.4 percentage points and
declines in ADR were smaller than corresponding classes of all hotels. The
largest disparity was in the economy segment with economy extended-stay hotels
reporting a RevPAR decline of about one-fifth of the contraction for all
economy class hotels.
Chapter 11 for Arizona development. Five Star Development, LLC and affiliated entities,
including those developing The Palmeraie, announced that it has filed voluntary
petitions for Chapter 11 protection in the U.S. Bankruptcy Court for the
Southern District of Texas. The filing is intended to create a clear,
court-supervised path toward completing The Ritz-Carlton Paradise Valley,
The Palmeraie—a 122-acre master-planned resort, residential, and luxury
retail destination. To ensure alignment across related assets and stakeholders,
other Texas-based Five Star entities have also filed for Chapter 11 protection.
Hotel construction is in its final phase, with substantially all infrastructure
complete, and luxury interior finishes ready to begin once court approvals are
finalized. Upon completion, The Ritz-Carlton, Paradise Valley, The Palmeraie,
will comprise a 215-room Ritz-Carlton resort, 80 branded Villas, 32 Estate
Homes, and a 29-acre luxury retail and dining district. The press release
stated that the automatic stay imposed by the filing will protect Five Star and
its affiliated debtors from lender collection activity, including actions by
the company's secured lender, Madison Realty Capital.
Sandals update. Sandals Resorts International updated the
status of its hotels in Jamaica, stating it plans to begin welcoming guests
back to Jamaica with five resorts in Ocho Rios and Negril reopening on December
6, 2025. Sandals Montego Bay, Sandals Royal Caribbean, and Sandals South Coast
on are scheduled to reopen on May 30, 2026.
YTL's first in New Zealand. Kuala Lumpur-based YTL Hotels has acquired the 225-room
Hotel Indigo, Auckland, marking its first hotel investment in New Zealand. In
September 2025, the New Zealand Overseas Investment Office granted consent for
YTL’s acquisition of the property in a NZD $160 million deal. The agreement
includes a 25-year hotel management contract with IHG Hotels & Resorts.
IHG adds in Bali. IHG Hotels & Resorts has signed a deal for the Hotel Indigo Bali Ubud in partnership with Ristia Group. Scheduled to open in 2027, the 130-key hotel will introduce the brand in Bali. This latest signing marks the company’s second property in Ubud, following the recent announcement of Kimpton Bali Ubud. IHG now has 92 luxury and lifestyle hotels open or in its pipeline in Southeast Asia and Korea. In Indonesia, it has 33 open hotels and 12 in the pipeline.
Minor grows in Mexico. Minor Hotels Europe & Americas
will open the 152-room NH Guadalajara Studios in Mexico, scheduled for late
2025, joining the 16 hotels already operated by Minor Hotels in Mexico. Together
with Tivoli Mérida Residences, it will bring the company’s national portfolio
to 18 properties.