Latest news: Gurney’s to Lake Tahoe; HRI refi in Nashville; Canada pipeline surging

Gurney’s to Lake Tahoe. Gurney’s Lake Tahoe in California is expected to open in early 2027 following a comprehensive renovation and repositioning. The hotel was acquired earlier this year by a pair of New York City-based companies, BLDG Management and Metrovest Equities, as part of the Gurney’s Resorts brand's ongoing expansion strategy. The 7.6-acre, 13-building resort sits on almost 1,000 feet of linear natural beach frontage and includes a marina, pool and immediate access to area ski resorts. Coral Gables, Florida-based Oceanview Commercial Mortgage Finance LLC, an affiliate of Bayview Asset Management, provided a $40 million acquisition loan and a $45 million future advance facility for the repositioning of the project. As part of its expansion plans, Gurney’s Resorts is exploring properties nationwide for potential acquisition or partnership.

HRI refinances in Nashville. New Orleans-based HRI Hospitality has refinanced a $101.5 million loan on the 306-key Tempo by Hilton Nashville Downtown, according to Michael Bellisario, analyst for R.W. Baird. The hotel opened in February 2024, with a $101.5 million loan from TPG RE Finance Trust. The new five-year floating-rate loan refinances the $86.5 million construction loan that was obtained in early 2022.

Canadian pipeline surging. Canada’s pipeline comprises 333 projects with 44,659 rooms, representing a 2% year-over-year growth in projects and a 9% increase in rooms, according to the latest data from Lodging Econometrics. At the close of the third quarter, there are 66 projects and 8,398 rooms under construction in Canada. Projects scheduled to start construction within the next 12 months showed powerful momentum at the Q3 close, with 103 projects and 13,969 rooms representing an impressive 49% surge in projects and a 43% increase in rooms YOY. The early planning phase contains 164 projects with 22,292 rooms, showing 9% room growth YOY. Additionally, Canada had 15 new project announcements with 2,005 rooms in Q3, representing an increase in projects and rooms YOY. By chain scale, upper midscale hotels continue to lead the pipeline with 128 projects and 13,700 rooms, representing 38% of total projects and 30% of rooms. Combined hotel renovations and brand conversions show increased activity, up 4% in projects and 18% in rooms YOY, and stand at 118 projects/16,088 rooms. Ontario continues to dominate provincial hotel construction in Canada, accounting for 58% of projects and 61% of rooms countrywide with 194 projects and 27,083 rooms, showing 10% room growth YOY. At the same time, Toronto is the top city, with 71 projects and 11,533 rooms, accounting for 21% of all projects and 26% of all rooms in Canada’s total construction pipeline.

Peachtree portfolio exceeds $2B. Atlanta-based Peachtree Group announced that its hotel development portfolio has surpassed $2 billion nationwide. The firm’s largest property to open in 2025 is the 257-key Embassy Suites Beach Resort in Gulf Shores, Alabama. In Dallas, the company has topped out on the dual-branded 264-key AC and Moxy by Marriott Uptown, currently Peachtree’s tallest hotel development, which is expected to open next summer. In Austin, Peachtree is undertaking its most ambitious project yet with the development of a dual-branded 480-key Embassy Suites and Tempo by Hilton. Peachtree is among the most active hotel developers in Qualified Opportunity Zones, with 11 hotels open, four under construction and three more in the pipeline.

Singapore’s Hotel Miramar rebranding. The 344-key Hotel Miramar in Singapore has been acquired by a pair of Singapore-based companies, fund manager Aravest and Wee Hur Holdings, for S$160 million, with plans to rebrand the property as the city’s first DoubleTree by Hilton hotel. The transaction is Wee Hur’s first hotel investment, as its subsidiary, Wee Hur Property, has taken a significant minority stake in Aravest’s fund and is a development partner in the asset. The hotel ceased operations at the end of October and will be renovated and opened by the fourth quarter of 2026, ideally before the city’s Formula 1 race next year.

Immersive rebrands in London. U.K.-based Immersive Hospitality Management has announced a £42 million redevelopment and rebranding of Corus Hotel Hyde Park in London. The hotel closed in September for renovations and is scheduled to open in Fall 2026 as Hyde & Seek, an upscale hotel that will join Marriott’s Tribute Portfolio. Immersive Hospitality Management rebranded from Corus Hotels Ltd last year. The firm is a subsidiary of Malaysia-based Malayan United Industries Berhad, which has owned and operated hotels for over 60 years in the U.S., Australia, the U.K., and Malaysia.

Orix acquires in Japan. Tokyo-based Orix JREIT Inc., through its asset manager, Orix Asset Management Corp., has acquired the 304-key Holiday Inn Express Osaka City Centre – Midosuji for JPY 22.5 billion from an undisclosed seller.

InterContinental Singapore rebranding. Frasers Hospitality Pte Ltd., the hospitality arm of Singapore-based Frasers Property Ltd., has announced the rebranding of InterContinental Singapore under Marriott International’s Luxury Collection portfolio, effective January 1. The rebranded hotel will have 406 keys.

IHG adds in Nepal. IHG Hotels & Resorts has signed a management agreement with Lumbini Heritage Ltd. for the 147-key Crowne Plaza Lumbini in Nepal. Scheduled to open in 2026, the signing marks the second Crowne Plaza hotel being developed in the country.

Accor adds in Africa. Accor and UAE-based hotel developer Mayan Properties have reached a master development agreement to accelerate growth in Sub-Saharan Africa. The pair will develop five hotels across the region, adding more than 1,100 rooms to Accor’s portfolio. The collaboration follows the signing of the 154-key Novotel Nouakchott in Mauritania, and the 159-key Mövenpick Moroni in Comoros, with four further projects planned for key destinations. Accor currently manages over 175 hotels throughout Africa, comprising more than 33,000 rooms across 15 brands and is developing over 60 additional properties.