Latest news: EMEA top inbound investor; Canopy adds Tokyo; Villa d’Este buys 2

Holiday comps hurt US performance. As expected, due to the Easter and Passover holidays, the U.S. hotel industry from April 13-19 reported negative year-over-year comparisons, according to CoStar data. Occupancy was 61.4% (-8.1% YOY); ADR $158 (-1.3% YOY) and RevPAR was $97.06 (-9.3% YOY). Among the top 25 markets, Orlando saw the largest occupancy increase (+6.2% to 76.6%). Miami reported the highest gains in ADR (+17.3% to $274.54) and RevPAR (+19.5% to $221.24). The largest RevPAR drops were seen in Washington, D.C. (-36.8% to $116.74) and Nashville (-30.1% to $105.16).

Inbound investment data. EMEA emerged as the dominant source of cross-border capital in the Americas in 2024, accounting for 74% of inbound investment volumes, according to new CBRE data. However, this was partly due to Asia Pacific investors, particularly those from Greater China, reducing their activity. Full-service hotels remained popular, comprising 87% of all cross-border investment last year. Upper upscale properties accounted for 49% of investment volumes in 2024, an increase of 13 percentage points since the onset of the pandemic. CBRE said hotel investment in the Americas is expected to strengthen this year on the back of narrowing bid-ask spread and lower interest rates.

Canopy to Tokyo. Hilton, Mitsubishi Estate Co. and TBS Holdings announced the signing of the 174-room Canopy by Hilton Tokyo Akasaka as part of a mixed-use development project that will include offices, commercial facilities, theaters and halls, and hotels, directly connected to Tokyo Metro's Akasaka Station. Scheduled to open in 2028, Canopy by Hilton Tokyo Akasaka marks the debut of the brand into Tokyo and the Kanto region of Japan and will be the third Canopy by Hilton hotel in Japan. The Canopy by Hilton portfolio includes more than 40 open properties around the globe across 13 countries and territories.

Extended-stay results. Supply, demand, room revenue, ADR and RevPAR performance metrics for extended-stay hotels compared to March 2024 were better than the overall hotel industry, according to the Highland Group. Extended-stay hotel occupancy reported a larger contraction but the premium the segment achieves compared to the total hotel industry stayed within its long-term average range. Although metrics in March were relatively good, like the overall hotel industry, a decelerating trend in extended-stay hotel performance metrics appears to be emerging.

Gruppo Villa d’Este buys 2 in Italy. Cernobbio, Italy-based owner-operator Gruppo Villa d’Este has acquired the 18-key Vista Palazzo Lago di Como and the 50-key Albergo Terminus in Como, Italy, from Como, Italy-based owner-operator Lario Hotels, according to HVS. The properties are next to each other on the lakefront in Como. Lario will continue to operate the hotels through the 2025 season, with the new owners set to take over management in December. Vista Palazzo will then be rebranded, while Albergo Terminus will retain its current name.

Stay Pineapple hotel trades. OneRE Apartment Fund LLC, a company affiliated with Onelin Capital Corp., a U.S.-based multi-asset investment, real estate development and management firm, has acquired the 102-room University Inn near the University of Washington in Bellvue. Staypineapple Hotels will manage the property under a licensing and management agreement.

Studio Vacanze acquires 2 in Italy. Sardinia, Italy Studio Vacanze has acquired two hotels in on the island of Sardinia, the 273-key Sporting Hotel and the 77-key Hotel I Corbezzoli, according to HVS. Studio Vacanze has a portfolio of 19 properties across Sardinia.

Ascott debuts Crest Collection in UAE. Singapore-based The Ascott Ltd. is partnering with Ajman, UAE-based FAM Holdings on the 539-key Al Mahra Resort by The Crest Collection, on Marjan Island, Ras Al Khaimah in the United Arab Emirates. The hotel, which is scheduled to open in the first quarter of 2027, marks The Crest Collection’s debut in the UAE. The Ascott Ltd. is owned by Singapore-based CapitaLand Investment Ltd.

Dusit grows in China. Dusit International, Bangkok, has signed a management deal with Dongfang Nongbo (Chengdu) Commercial Operation Management Co. to operate the Dusit Hotel AG Park, Chengdu in China. The 250-key property, which is scheduled to open on 1 June 2025, is located within the Tianfu Agricultural Expo Park. Dusit operates seven hotels in China and has over 20 properties in development.