Latest news: New CEO at DiamondRock; Euro expansion for Marriott; Radisson Blu adds in EMEA

Jeff Donnelly

DiamondRock restructures leadership. Bethesda, Maryland-based REIT DiamondRock Hospitality Co. has made several executive changes. Executive vice president and CFO Jeffrey Donnelly has been named CEO and will join the company’s board after its annual meeting in May. Donnelly succeeds Mark Brugger, who has left the company after 20 years. Briony Quinn, previously senior vice president and treasurer, has been named executive vice president and CFO (she will also remain treasurer). Justin Leonard, formerly executive vice president and COO, has been named president and will remain COO while also becoming chief investment officer as Troy Furbay leaves the company. The restructuring simplifies the company’s executive team, including its general counsel, from six to four members.

Marriott's European expansion. Marriott International announced plans to add nearly 100 properties and 12,000 rooms to its European portfolio through conversions and adaptive reuse projects by the end of 2026. Marriott currently has 800 properties and nearly 150,000 rooms across 25 brands in 47 countries and territories in Europe, and this expansion represents more than 40% of the company’s development pipeline on the continent. Marriott said it is seeing hotel conversions and adaptive reuse projects in countries such as Italy, the U.K., Spain, and Turkey, as well as across all brand segments. Its new midscale brand, Four Points Express by Sheraton, recently had an opening in Turkey and is slated for five more openings across the U.K. and Turkey by the end of 2025. Marriott said the select-service segments represent more than 25% of the company’s anticipated additions, while the premium segments make up more than 20%. Marriott said the luxury segment makes up 10% of the anticipated openings.

Dual-brand for Phoenix. Dallas-based developer Jackson-Shaw and Tucson-based Holualoa Companies are developing a dual-branded 179-key AC Hotel by Marriott North Phoenix at Norterra and 95-key Element by Westin North Phoenix at Norterra. The project is expected to break ground in May and is scheduled to open in late 2025.

BWH adds in Thailand. BWH Hotels has expanded its portfolio in Asia with the signing of 198-key SureStay by Best Western Iconic Suvarnabhumi in Bangkok. BWH has a portfolio of 13 hotels in the Greater Bangkok region.

Radisson development news. Radisson Hotel Group said more than 30% of its signings in EMEA in the first quarter were for Radisson Blu, Europe's largest upper upscale brand. In Q1, more than half of Radisson’s signings and openings were in APAC, particularly India, China and Cambodia. The company had record-breaking signings in 2023 and has grown its business by nearly 50% over the last five years. Radisson signed and opened over 50 properties in the first quarter and has a worldwide portfolio of 1,340 properties in 95+ countries.

Maverick adds two. Boston-based Maverick Hotels and Restaurants has added the 52-key The York Beach Surf Club and the 60-key The Sea Latch Inn, both located in York Beach, Maine, to its portfolio of managed properties.

GHA grows 17% YOY. The Global Hotel Alliance (GHA) said its total hotel revenues for the first quarter were $649 million, marking a 17% increase year-over-year. Total room nights increased by 20%, and ADR increased by 2% over its portfolio of 800 hotels. Its loyalty program, GHA Discovery, also grew, with new enrollments up by 28% and redemptions up by 109% YOY.

Principal acquires in Rome. Principal Real Estate has partnered with GWM Group’s Italian Real Estate Special Situations (IRESS) II fund to acquire an undisclosed stake in Rome Cavour Hotel. The hotel complex comprises six adjoining buildings measuring approximately 10,650 sq. meters and is located in the city center.

Weave acquires in Seoul. Hong Kong-based Weave Living has partnered with New York City-based Kohlberg Kravis Roberts & Co. L.P. to acquire 157-key Seoul’s State Sunyu Hotel for an undisclosed amount, according to a report in HVS. Following an eight-month renovation, it will be transformed into a flagship Weave Suites facility in Seoul.

LHN adding in Singapore. Singapore-based LHN Group is expanding its Coliwoo co-living properties with two new developments in Singapore, according to a report in HVS. LHN is partnered with Macritchie Developments Pte. Ltd. to secure the option to purchase the leasehold property at 50 Armenian St. for S$26.5 million. LHN also purchased a property at 260 Upper Bukit Timah Road, where another Coliwoo co-living serviced apartment will be established and is expected to open in the first half of 2025.

Oman’s hotel revenue increased. Oman’s hotel revenues increased by 18% through February. According to data from the National Centre for Statistics and Information (NCSI), hotel revenues surpassed RO 52.3 million during the first two months of 2024. Guest numbers also rose to 433,000.