Latest news: First Hard Rock in Puerto Rico; US hotels down; Stonebridge, PM add

First Hard Rock in Puerto Rico. Orlando-based Hard Rock International is partnering with Misla Hospitality, Stonecrest Investment Management, and The Interfin Companies to develop the 415-key Hard Rock Hotel & Casino San Juan, which will be the first Hard Rock in Puerto Rico. The $850 million new-build project is slated to open in 2029, with construction commencing mid-2026. The project will also include 186 branded residences and Puerto Rico's first integrated casino.

US hotels down last week. The U.S. hotel industry reported mostly negative year-over-year comparisons, according to the latest data from CoStar. For the week of January 25-31, occupancy was 54% (-4.3%); ADR was $150.55 (+0.2%) and RevPAR was $81.37 (-4%). Among the top 25 markets, Nashville reported the largest occupancy increase (+24.1% to 71%) and the steepest decline in ADR (-13.8% to $140.49). The market’s performance was driven by Winter Storm Fern. Minneapolis saw the highest RevPAR gain (+18.9% to $67.26). Las Vegas registered the most pronounced decreases in occupancy (-10.4% to 69%) and RevPAR (-14.2% to $116.44).

Stonebridge adds in Denver. Denver-based Stonebridge has added the 270-key DoubleTree by Hilton Denver Cherry Creek to its management portfolio. The hotel is located in Denver’s Cherry Creek submarket and has several on-site F&B outlets.

PM adds in California. Chevy Chase, Maryland-based PM Hotel Group is adding the recently opened, new-build Hilton Garden Inn Merced in California to its management portfolio. The hotel is located near UC Merced and is designed to serve a wide range of travelers in California's Central Valley.

La Vie entering the Philippines. Sydney-based La Vie Hotels & Resorts has entered into the Philippine market with development oversight of the under-construction Grand Casiana Hotel Mexico in Pampanga, marking a key strategic addition to its growing regional portfolio. Following the launch of its Philippine-based office in early 2025 and the management of Hotel Casiana & Events Center in Tagaytay, this second Casiana property further solidifies La Vie's commitment to the rapidly growing Philippine tourism and business travel sectors. The 264-key Grand Casiana Hotel Mexico is scheduled to open in the third quarter of 2026.

Trilogy adds in Canberra. Sydney-based Trilogy Hotels is adding the 80-key Peppers Gallery Hotel Canberra in Australia to its management portfolio. The hotel was built in 1927 to accommodate newly employed public servants for the grand opening of the first Parliament House. It will operate under a franchise agreement with Accor.

Milan booking ahead of Olympics. Ahead of the Winter Olympics, Milan’s hotel occupancy on the books is as high as 85.2%, according to data from CoStar. Four nights within the two-week event period are pacing above 80% occupancy on the books, including the peak on 11 February 11 (85.2%). The night of the opening ceremony on February 6 is at 82.9% – the fourth highest level across event dates. Currently, Milan’s lowest level in Olympic occupancy on the books is the night of the closing ceremony (71.4%). This follows a standard Olympic trend, most recently seen in Paris during the summer of 2024.