Latest news: Rolling Stone hotel in Vegas?; stayAPT adds 5; Axel Beach Hotel closing

Rolling Stone hotel, casino in Vegas? Los Angeles and New York City-based Penske Media Corp. is in talks to open a Rolling Stone Hotel and Casino in Las Vegas, according to a report in Vital Vegas. The potential property would open on the site of the Downtown Grand Hotel & Casino, which PMC is currently in talks to acquire from Los Angeles-based CIM Group. The Vital Vegas report said PMC is one of several potential buyers for the property.

stayAPT Suites adding five in Pennsylvania. Matthews, North Carolina-based stayAPT Suites has signed a multi-location franchise agreement with Panama City, Florida-based Destiny Partners, LLC/Destiny Hospitality, LLC to bring five new properties to Lancaster, Reading, York, Bethlehem and Allentown in Pennsylvania. Construction will begin this spring with the first property, an 88-key hotel in Lancaster. stayAPT Suites is on track to reach 40 locations by the end of March.

Axel Beach Hotel closing. The Axel Beach Hotel in South Beach, Florida, is closing on March 31, according to a report in OutSFL. The 159-key hotel opened in 2020 and was touted as the first brand hotel focused on the LGBTQ community. It is the only U.S. location for Axel Hotels, a brand created in 2003.

San Jose hotel gets foreclosure reprieve. The owners of the 541-key Signia by Hilton in San Jose have won a weeks-long reprieve from the threat of foreclosure on a delinquent loan, according to a report in Siliconvalley.com. Court records show that a judge has kept a temporary restraining order in effect until May 1 that blocks effort by the lender (an affiliate of New York City-based Brightspire Investment Group) to foreclose. The judge ordered the hotel’s ownership group, which Sam Hirbod leads, to provide an update on April 17. Salt Lake City-based Bridge Investment Group and Dallas-based Nexpoint have agreed to provide a refinance for the hotel.

Residences in Saudi Arabia. Riyadh-based Red Sea Global is developing three projects of luxury residences as part of The Red Sea: Residences at Nujuma in Saudi Arabia. The projects include the 21-villa Nujuma, a Ritz-Carlton Reserve; the 32-home Jumeirah Residences; and the 20-home Miravel Residences. This is Miravel’s first resort outside of the U.S.

Hilton debuts Signia in Africa. Hilton is partnering with Giza, Egypt-based Skywalk Developments to sign the Signia by the 200-key Hilton Cairo Skywalk and the 200-key Signia by Hilton Residences Cairo Skywalk, which will bring the Signia brand to Egypt and Africa for the first time. Hilton has a portfolio of more than 25 hotels in Egypt.

Frasers adding six in Asia. Singapore-based Frasers Hospitality has a pipeline of five new openings and a newly signed management agreement across mainland China, Japan and Malaysia. Frasers Hospitality will grow its portfolio in China with openings in Dalian, Shanghai and Shenzhen. In Malaysia, Fraser Residence Putrajaya and Capri by Fraser Penang are set to open their doors in 2025 and a Fraser Place hotel in Tokyo will expand its footprint in the country to two properties by 2026.

IHG adds in Jim Corbett. IHG Hotels & Resorts has signed a management agreement with Sitargan, India-based Girija Land Ventures Pvt. Ltd. to develop the 181-key Crowne Plaza Resort Jim Corbett. The hotel is scheduled to open in the first quarter of 2027 and will mark the debut of the Crowne Plaza brand in Jim Corbett. IHG currently has 47 hotels operating across six brands in India, with a pipeline of 60 hotels due to open in the next three to five years.

Illinois hotel acquired. Agrani Ventures and Clarksburg, New Jersey-based Prominence Consulting have jointly acquired the dual-brand Courtyard Peoria and Residence Inn Peoria in Peoria, Illinois, from an undisclosed seller for an undisclosed amount. Both properties are planning multi-million renovations. Prominence Hospitality will manage the properties.

Kentucky hotel sold. Houston-based Vrindavan LLC has acquired the 48-key SureStay by Best Western Bardstown General Nelson in Bardstown, Kentucky, from Bardstown-based Dhamdhani LLC. The hotel will remain affiliated with Best Western. Louisville, Kentucky-based Huff, Niehaus & Associates Inc. brokered the deal. 

Columbia adds in Oregon. Seattle-based Columbia Hospitality has added the 85-key The Allison Inn & Spa in Willamette Valley wine country in Newberg, Oregon, to its portfolio.

Choice opens 70th Clarion Pointe. Choice Hotels International has opened its 70th Clarion Pointe hotel in Milwaukee, Wisconsin, as the company continues to invest in its midscale portfolio. Choice has 43 additional Clarion Pointe hotels in the pipeline with 27 expected to open this year in cities such as Galveston, Texas, and Gettysburg, Pennsylvania. Clarion Pointe was launched in 2018.

Room Mate acquires in Switzerland. Madrid-based Room Mate Hospitality & Leisure, S.L. has acquired the long leasehold of the 104-key Hotel Marmont in Geneva, Switzerland. The property will undergo an extensive renovation and be rebranded as a Room Mate hotel in early 2026. Room Mate has 33 hotels in its portfolio across six countries and 15 cities.