Latest news: Caliber's platform; US RevPAR hits Q1 record; New Jersey sale

Caliber launches development platform. Scottsdale, Arizona-based Caliber has launched Caliber Hospitality Development (CHD), a joint venture between Caliber and Scottsdale-based GIA Hospitality, which will serve as the development platform for Caliber’s hospitality investments. The JV was seeded with an initial $2 million investment from GIA and is supported by Caliber’s integrated real estate services, including development, construction, finance, and asset management. CHD will operate independently under the Caliber Hospitality brand. CHD’s investment strategy is centered around two core initiatives: distressed hotel acquisitions and ground-up extended-stay development in markets with favorable supply-demand dynamics, beginning with the recently announced two Hyatt Studios developments in Scottsdale and Georgetown, Texas.

JLL: RevPAR hits Q1 record high. U.S. RevPAR hit record Q1 highs in 2025, driven by robust ADR, signaling continued resilience in hotel performance despite economic headwinds, according to JLL’s Q1 2025 U.S. Hotel Investment Trends. The report said U.S. hotel liquidity remained resilient with $4.6 billion in Q1 2025 transaction volume, up 23% year-over-year. However, the lack of portfolios and larger deals, driven by elevated debt costs, has continued to limit volume to below the long-term average, historically. Mid-sized deals, sized $50-199 million, drove total liquidity in Q1 as investors have started to capitalize on the return of corporate groups in urban centers and a wide, 67% discount to replacement cost for full-service, urban hotels. The report also said that following a surge in inbound foreign investment in Q1, expect Middle Eastern, European and select Asian groups likely to be active in 2025, targeting irreplaceable assets in exclusive markets.

InnZen acquires in New Jersey. Monmouth Junction, New Jersey-based InnZen Hospitality has acquired the 133-key Hampton Inn & Suites Bridgewater in New Jersey from Wilmington, Delaware-based FSG Bridgewater Hotel for an undisclosed amount. Hunter Hotel Advisors facilitated the transaction. The hotel opened in 2017.

Crestline adds in New Orleans. Fairfax, Virginia-based Crestline Hotels & Resorts has assumed management of the 103-key Fairfield Inn & Suites New Orleans Downtown/French Quarter Area in Louisiana. Memphis-based Kemmons Wilson Hospitality Partners owns the hotels, which was recently renovated.

Airbnb adds new services business. Airbnb’s 2025 Summer Release has been highly anticipated thanks to the long-awaited, much discussed relaunch of the company’s Experiences vertical. On the heels of mixed first quarter financial results, the short-term rental giant did officially relaunch Experiences, along with another new vertical, Airbnb Services, and a new mobile application. The new and refreshed Airbnb categories come after the company said in February that it would spend up to $250 million on new lines of business in 2025. At the time, Airbnb co-founder and CEO Brian Chesky called for “the beginning of a new Airbnb,” in line with his oft-discussed plan to expand beyond Airbnb’s core business.

Aman adding in The Bahamas. Aman is developing a new project, Amancaya in Exuma, The Bahamas, that is currently under construction. The resort and branded residences will be the first location for the Aman Group in The Bahamas and the third in the Caribbean. It will comprise of a 36-pavilion Aman hotel and limited collection of fully-serviced Aman Residences.

APEC pipeline grew in Q1. The pipeline in the Asia Pacific region at the end of 1Q25, excluding China (APEC), stood at 2,074 projects and 408,213 rooms, representing a 3% year-over-year increase in projects and a 1% YOY increase in rooms, according to Lodging Econometrics. There were 872 projects and 198,640 rooms under construction in the region, up 1% YOY in projects. Projects construction starts within the next 12 months stood at 328 projects and 66,559 rooms. Projects in the early planning stage reached a record-high 874 projects and 143,014 rooms, a 7% YOY increase in projects and a 3% increase in rooms. The upscale chain scale hit a record-high room total of 519 projects and 103,815 rooms, while construction starts saw considerable growth with 115 projects and 19,855 rooms, a 55% increase in projects and a 70% increase in rooms YOY.  During 1Q25, 65 hotels comprising 11,151 rooms opened in the APEC region, with an additional 296 hotels and 58,972 rooms forecast to open through the rest of the year. LE forecasts 311 hotels and 63,544 rooms to open in APEC in 2026.

Premier Inn adds in London. Premier Inn has continued its expansion in London after securing a vacant office block close to the city’s South Bank area. The budget brand planned to convert Dorset House in Stamford Street into a 400-key hub by Premier Inn. There are already 15 hub by Premier Inn hotels currently operating in London.

First Even in Middle East. IHG Hotels & Resorts is partnering with Marassi Al Bahr Development Co. to sign the 300-key Even Hotel Dammam in Saudi Arabia, the first Even hotel in the Middle East. The hotel is scheduled to open in January 2029. IHG currently operates 45 hotels across six brands in Saudi Arabia, with 47 hotels in the development pipeline set to open within three to five years.

Peachtree adds Austin office. Peachtree Group is expanding its national presence by opening its first office outside its Atlanta headquarters in Austin, Texas. This move aligns with Peachtree’s growth strategy and commitment to Texas’ strong economy and commercial real estate market, with significant investments across the state.

Minor adds in Spain. NH Collection Hotel & Resorts, Minor Hotels’ premium brand, is opening the NH Collection Ibiza and NH Collection Marbella, which will mark the brand’s debut in the Balearic Islands and Costa del Sol. 

Meliá adds in Sardinia. Palma, Spain-based Meliá Hotels International has signed the 152-key Hotel Corte Rosada, Affiliated by Meliá, in Alghero, Sardinia in Italy, expanding its Mediterranean portfolio. The hotel is scheduled to open in mid-2025 and will be the second Meliá property on the island and the 15th Meliá hotel in its Italy portfolio.

Marina Bay Sands renovations. Singapore’s Marina Bay Sands has completed the renovation of its entire hotel room inventory – part of a massive $1.75 billion multi-year transformation of the resort. The renovations, including the expansion of its suite offering, have now made the hotel have 1,850 hotel rooms, including 775 suites, up from 180 suites previously. Another 570 suites will be added in the coming years as the company embarks on a $8 billion expansion project to build a fourth hotel tower.