Latest news: Mohari-Weller $2.5B partnership; Trinity, Certares refi; Minor Q1 earnings

Mohari, Weller partner for $2.5B investment platform. Bethesda, Maryland-based Mohari Hospitality and Weller Development Partners announced a partnership to co-invest up to $2.5 billion in luxury hospitality and mixed-use projects in North America and the Caribbean. The investment will bolster Weller’s current investments, including Six Senses Napa and Six Senses Grand Bahama (both scheduled to open in 2026), and provide a platform for future investments.

Trinity, Certares $185M refinance of Miami hotel. Honolulu-based Trinity Investments and New York City-based Certares Management have secured $185 million to refinance the 352-key EAST Miami Hotel in Florida. Deutsche Bank provided the $152.5 million senior loan with Denver-based KSL Capital Partners providing the mezzanine portion. Colliers assisted with the transaction. The hotel is part of the $1 billion Brickel City Centre development.

Minor reports strong Q1 earnings. Bangkok, Thailand-based Minor Hotels has announced a net profit of THB 530 million as part of its first-quarter earnings and a 17% year-over-year gain of its core revenue of THB 29.6 billion. ADR across its hotels rose 11% YOY, while systemwide RevPAR rose 19% over the same period. Occupancy was up four points to 64%, with hotels in Thailand leading the way at 80%. Occupancy in Middle East and Africa hotels also increased 11 points in the first quarter to 65%.

IHG adding Staybridge Suites in Europe. IHG Hotels & Resorts (IHG) is adding more than 380 rooms to its Staybridge Suites in Europe by signing three hotels to the extended-stay brand. The 152-key Staybridge Suites Budapest – Parkside Hungary is scheduled to open in 2027 under a franchise agreement with Mogotel Hotel Group and developed by UDI Group, marking the brand’s debut in Hungary. The 99-key Staybridge Suites Antwerp, Belgium, is scheduled to open at the end of 2026 in a partnership with Borealis Hotel Group and will be the brand’s debut in Belgium. The 132-key Staybridge Suites Belfast, Northern Ireland, will be part of the Bedford Yards development and is scheduled to open in 2026. IHG is expanding its Staybridge Suites portfolio in Europe with 10 existing hotels and nine in the pipeline. There are 324 Staybridge Suites hotel properties open worldwide, with 171 in the pipeline scheduled to open in the next three to five years.

Hyatt debuts Centric in Puerto Rico. Hyatt Hotels Corp. is partnering with Interlink and Vivo Beach Club for its first Hyatt Centric branded hotel in Puerto Rico. The 223-key Hyatt Centric San Juan Isla Verde is currently undergoing $25 million in renovations and is scheduled to join the brand in 2025. The former Verdanza Hotel will be the sixth Hyatt hotel in Puerto Rico.

Hilton debuts DoubleTree in Malta. Hilton is debuting its DoubleTree brand on the island of Malta with the 485-key DoubleTree by Hilton Malta. Hilton has 684 hotels worldwide.

Ennismore adds Hoxton in Italy. This winter, Ennismore is opening the 161-key The Hoxton, Florence. The hotel is split across two buildings: a 16th-century palazzo with its original façade and an Andrea Branzi-designed building from the 1980s. The Hoxton has 15 hotels worldwide in the U.S., North America and Europe.

Hard Rock considers Star Entertainment takeover. Brisbane, Australia-based Star Entertainment is considering a takeover bid from Orlando, Florida-based Hard Rock Hotels & Casinos, according to a report in Reuters. The report said the potential takeover would provide a much-needed financial lifeline to Star, plagued by a regulatory inquiry into its flagship Sydney casino operation and an executive exodus (its chairman and CEO resigned earlier this year).

Archipelago adds in DR. Jakarta-based Archipelago International is opening two hotels in Santo Domingo, Dominican Republic, as part of its Caribbean expansion. The 179-key Aston Rubi City Suites and the 126-key Aston Bocettos City Suites will open in the next 12 months. Archipelago has more than 45,000 rooms globally in its portfolio.