Latest news: Peachtree adds in Denver; record revenue for Minor; ESA's new prototype

Peachtree adds in Denver. Atlanta-based Peachtree Group has announced its acquisition of the 180-room Hilton Garden Inn Denver Tech Center for approximately $18 million from Florida-based Chatham Lodging Trust. An approximate $6 million renovation of the property was planned for 2023 but wasn’t completed due to the pending sale. This is Peachtree’s second hotel in Denver.

Record revenue for Minor Hotels. Bangkok-based Minor Hotels reported full-year revenue of THB 121.4 billion (approximately $3.4 billion) in 2023, and the owner/operator said its net profit has grown by 450% year-over-year. The revenue was 25% higher versus 2022, with topline sales reaching THB 157 billion (approximately $4.4 billion), with revenue in Europe and Thailand growing 25% and 65% YOY, respectively. Minor added 1,257 rooms in 2023 and has announced plans for aggressive expansion over the next three years, aiming to add 200 to 250 new hotels to its existing portfolio of 540 hotels.

The Extended Stay America Select Suites in Wildwood will open in early 2025.

ESA breaks ground with new prototype. Charlotte-based Extended Stay America has broken ground on its first new construction for its Extended Stay America Select Suites prototype in Wildwood, Florida. Southern Hospitality is developing the franchised property. The 124-key Extended Stay America Select Suites in Wildwood will open in early 2025.

Tripadvisor could go private? Needham, Massachusetts-based Tripadvisor said it has formed a special committee and retained an advisor to evaluate future proposals for a potential transaction. The move comes after Englewood, Colorado-based Liberty Tripadvisor Holdings announced last week in an SEC filing that its board gave approval to “engage in discussions with respect to a potential transaction.” Liberty Tripadvisor holds a 57% voting interest in the company but only owns around 20% of the company’s stock. BTIF Managing Director Jake Fuller said there is confusion about what is happening, but it sounds like Liberty has received an offer from a potential buyer to acquire both Liberty and Tripadvisor, which would take the company private.

Sotherly refinances Tampa property. Williamsburg, Virginia-based Sotherly Hotels has refinanced its loan on the Hotel Alba, Tapestry Collection by Hilton in Tampa, Florida. Sotherly executed the $35 million secured loan with Citi Real Estate Funding Inc., which is interest only and matures on March 6, 2029, with a fixed rate of 8.49%. Proceeds from the loan repaid the first mortgage.

Portfolio of 17 UK hotels sells. Singapore-based ProsperCap Corporation Limited has purchased a portfolio of 17 hotels in the UK from Thailand-based DTP Inter Holdings Corp. ProsperCap, formerly known as 3Cnergy, is a publicly listed company on the Singapore Exchange while DTP Inter Holdings Corp. is a subsidiary of DTGO Corporation Limited, which holds a controlling stake in ProsperCap. DTGO originally acquired the portfolio of Hilton, Marriott and IHG franchised hotels in 2019. The hotels are managed by Atlanta-based Valor Hospitality Partners.

Budget for Virginia Hard Rock balloons. The budget for the 300-key Hard Rock Hotel & Casino Bristol in southern Virginia has ballooned from an initial projection of $300 million to more than $550 million, according to a story on Casino.org. Hard Rock International is leading the development with local investors Jim McGlothlin and Clyde Stacey. The project, which is still scheduled to open this summer, will include a hotel, casino, restaurants, retail and indoor and outdoor theaters for live music.

Choice adds in UK. Choice Hotels EMEA has added the 70-key Clarion Charlecote Pheasant Hotel in Charlecote, Warwickshire, UK, to its portfolio. The property was built in the 16th century and is owned and operated by Vine Hotels.

Real Hotels acquires Amazonia. Portugal-based Real Hotels Group has acquired the Amazonia Hotel Group, which includes four hotels in Lisbon, Portugal. The acquisition includes the 21-key Amazonia Estoril Cascais Hotel, the 97-key Amazonia Jamor Hotel, the 192-key Amazonia Lisboa Hotel, and the 40-key Amazonia Palmela Apartments. Real Hotels will now own 20 hotels and 3,000 rooms, all in Portugal.

REAM acquires in Turin. Turin, Italy-based REAM SGR has acquired the 195-room Golden Palace Hotel in Turin, Italy, for €36 million through its Geras 2 fund. The six-story property was originally an office building, but after a €60 million conversion, it was opened for the 2006 Winter Olympics. It has been closed since 2022 but is expected to reopen in November.

German group adds in Spain. German-based 12.18 Investment Management has acquired the 142-key Club Santa Ponsa in Mallorca, Spain, for an undisclosed amount. 12.18 partnered with an international development fund for the transaction and is expected to be redeveloped into a resort in partnership with Puro Group. 12.18 has 10 hotels in its portfolio.

HotelsProperties acquires in Dublin. Dublin-based HotelsProperties has acquired the 38-key The Wellington Hotel in Dublin, Ireland, for €14 million from Kroll Advisory Ltd. HotelsProperties has 14 hotels in its portfolio in Ireland and the UK.

Dalofi adds in France. Roanne, France-based Dalofi has acquired the 53-key Grand Hôtel des Terreaux in Lyon, France, from the Bernard family for an undisclosed price. This is Dalofi’s fifth hotel in operation, with two deals in the pipeline.

AKF acquires in Denmark. Denmark-based AKF has acquired the 127-key Comwell Koge Strand Hotel in Koge, Denmark, from the Aage V. Jensens Foundation for an undisclosed amount. Comwell Hotels will still operate the property.

Bob W gets €40M Series B funding. Helsinki-based hotel operator Bob W announced Series B funding of €40 million. Bob W operates 36 full-service aparthotels in 17 cities and 10 countries across Europe. The funding round was led by Evli Growth Partners, with participation from Taavet+Sten and notable European entrepreneurs, including Supercell’s Mikko Kodisoja.

Colorado AG, Marriott reach settlement on fees. Colorado’s Attorney General Phil Weiser announced a settlement with Marriott International to include mandatory fees in the published price of rooms to consumers. Colorado has made similar agreements with Choice Hotels International and Omni Hotels & Resorts. “Junk fees” have been a hot topic over the past year in the hospitality industry, but hoteliers have said the issue is only with their transparency and not discarding the practice.