Latest news: Faraway expands; Peachtree add 6; PHD buys in Alabama

Faraway adds in Hamptons, Wyoming. Faraway Hotels, the boutique hospitality brand developed by a trio of Boston-based companies - Blue Flag Capital, Collared Martin Hospitality and Bain Capital Real Estate - announced its expansion beyond Nantucket and Martha’s Vineyard. Next summer, Faraway will launch in Sag Harbor in the Hamptons in New York and Jackson Hole, Wyoming. In the Hamptons, Faraway is transforming the historic Baron’s Cove into the 67-key Faraway Sag Harbor, while in Wyoming, the Faraway Jackson Hole will reinterpret the historic Snake River Lodge & Spa at the base of the mountain in Teton Village. Earlier this year, Hotel Investment Today spoke with Blue Flag Capital and Collared Martin Hospitality about the company’s expansion plans and its new management company.

Peachtree adds six. Atlanta-based Peachtree Group’s hospitality management division has added six new hotels to its growing portfolio since September. Five of the hotels are owned by San Antonio, Texas-based La Posada Group and include the Fairfield Inn Evansville East in Indiana, the Fairfield Inn Las Cruces and the TownePlace Suites Las Cruces in New Mexico, the SpringHill Suites Lawrence Downtown, and the TownePlace Suites Kansas City Overland Park in Kansas. Peachtree also assumed management of the Hampton Inn Monahans in Texas, owned by Denver-based Decatur Properties Holdings. Peachtree Group’s hospitality management division manages 115 hotels across 29 brands with 14,212 rooms in 27 states. The six additions expand Peachtree’s third-party operations to 42 hotels.

PHD acquires in Alabama. Opelika, Alabama-based PHD Hotels has acquired the 111-key Aloft Birmingham Soho Square in Alabama from an institutional seller for an undisclosed amount. Hunter Hotel Advisors brokered the transaction. The hotel is located four miles from downtown Birmingham.

US hotels post negative comps. Impacted by the Rosh Hashanah holiday, the U.S. hotel industry from Septemner 21-27 reported negative year-over-year comparisons, according to CoStar. Occupancy was 65.6% (-4.2% YOY); ADR was $166.48 (-2.5% YOY) and RevPAR was $109.15 (-6.6% YOY). Among the top 25 markets, Las Vegas reported the largest declines in each of the three key performance metrics: occupancy (-23.0% to 66.1%), ADR (-20.1% to $195.31) and RevPAR (-38.5% to $129.04). New Orleans reported the second-steepest performance declines: occupancy (-21.1% to 48.4%), ADR (-14.9% to $131.54) and RevPAR (-32.8% to $63.65). Overall, 21 of the top 25 Markets reported an occupancy decline.

Rebel adds in Orlando. New York City-based Rebel Hotel Co. is adding the Sheraton Orlando North Hotel to its management portfolio. This marks Rebel’s entry into the Orlando market and the second Rebel hotel for the same ownership group, which also owns the Hyatt Regency Milwaukee.

IHG adds vocos in Europe. IHG Hotels & Resorts has grown its voco brand through nine new signings and openings across Southern Europe, adding over 1,000 keys to the brand’s portfolio. The accelerated growth sees properties in France, Italy, Portugal, Spain and Turkey significantly strengthen IHG’s premium presence in the region. Since launching in 2018, it has 100 open hotels globally, with 35 open and 22 pipeline voco properties across Europe. The nine new signings and openings in Southern Europe join 10 existing voco hotels across France, Italy, Malta, Montenegro and Spain, including voco Podgorica in Montenegro, voco Malta and voco Milan – Fiere in Italy, as well as 10 more in development.

Diriyah adding residence in KSA. Saudi Arabia-based Diriyah Co. has announced Faena Residences Wadi Safar, a new development featuring 20 branded villas in the Wadi Safar district, located near Diriyah on the outskirts of Riyadh in Saudi Arabia. This marks Faena’s first residential project in Saudi Arabia. The project is being developed in conjunction with the 130-key experiential Faena Wadi Safar Hotel.

Hilton adds in South Korea. Hilton has signed for its flagship brand, Hilton Hotels & Resorts, at the 1,275-key Inspire Entertainment Resort in Incheon, South Korea. Inspire will continue to manage the property under a franchise agreement. The Inspire resort boasts three themed hotel towers, South Korea’s first 15,000-seat performance arena, an indoor water park, extensive MICE facilities, an outdoor entertainment park, a casino, a 150-meter digital entertainment street and a selection of shopping, dining, and entertainment options.

Marriott adds in Dubai. Dubai-based Shamal Holding and Marriott International have signed an agreement to bring an Edition branded residences and a hotel to Dubai Harbour in the UAE. Scheduled to be completed in 2029, The Dubai Beach Edition will have 165 rooms and be Marriott’s first beachfront resort in the UAE.

Radisson adds in the Philippines. Radisson Hotel Group has signed the 138-key Lime Resort Bohol in the Philippines. The hotel will be a member of Radisson Individuals Premier and is scheduled to open at the end of 2025. The beachfront resort will be the first Radisson Individuals Premier in Southeast Asia Pacific. With this addition, Radisson Hotel Group’s portfolio in the Philippines now stands at 20 hotels, comprising both operational and under-development properties.