Latest news: Salter Brothers plans listing; refi for London property; HSMAI's Gilbert dies

Salter Brothers plans to list on ASX. Melbourne-based funds management and advisory firm Salter Brothers plans to list its hotel portfolio on the Australian Securities Exchange (ASX), with the assets valued at up to A$2 billion. According to CBRE data, Salter Brothers is Australia’s second-largest hotel owner, with a portfolio of 4,921 rooms. According to a report in The Australian, the company plans to expand its holding in Australia and internationally.

Steamboat Springs project gets approval. Washington, D.C.-based EB5 Capital has received approval from the United States Citizenship and Immigration Services (USCIS) for a dual-branded Marriott hotel atop Steamboat Mountain in Steamboat Spring, Colorado. The project will consist of a 103-room upscale SpringHill Suites and a 77-room extended-stay TownePlace Suites and will be one of EB5 Capital’s 14 hotel developments in its portfolio of over 40 projects. This project is one of 15 projects EB5 Capital has launched since the passing of the EB-5 Reform and Integrity Act of 2022 (RIA). Since the RIA went into effect, 12 of EB5 Capital’s projects have received I-956F approvals, allowing the firm to maintain its 100% project approval rate with USCIS.

Criterion refinances London hotel. San Francisco-based Criterion Capital has secured a £16 million, five-year refinancing for the 123-key Zedwell Greenwich in London. The hotel opened last October and is the third hotel in London for the brand, which has plans to open 13 more Zedwell hotels across the U.K. through 2027. Metro Bank secured the financing.

Longtime HSMAI president dies. Bob Gilbert, the longtime president and CEO of the Hospitality Sales and Marketing Association International (HSMAI) Americas, HSMAI Foundation and HSMAI Global, has died. In July 2024, the organization announced that Gilbert had accelerated his retirement plan due to a health issue after his 30 years of executive leadership for HSMAI.

New brokerage firm launches. New York City-based brokerage firm Alchemy Real Estate Advisors is launching with hotel and real estate veterans Adam Montufar, Bennett Webster, Brent Clemens and Joe Cuomo. The team brings 70 years of collective experience and over $7 billion in aggregate transaction volume across more than 500 hotel property and non-performing loan transactions. Before starting this firm, Webster, Clemens, and Montufar were senior managing directors at Paramount Lodging Advisors and Cuomo oversaw institutional sales for the Ten-X auction platform.

US hotels mixed in August. The U.S. hotel industry reported in August lower performance results from the previous month but positive comparisons year over year, according to CoStar data. Occupancy was 66.9% (+1.5% YOY), ADR was $157.84 (+2.3% YOY) and RevPAR was $105.67 (+3.9% YOY). Among the Top 25 markets, New York City experienced the highest occupancy level (+5.2% to 87.3%) while markets with the lowest occupancy for the month included New Orleans (54.1%) and Phoenix (58.4%).

Radisson RED debuts in Germany. Radisson is debuting its RED brand in Germany with the opening of the 133-key Radisson RED Berlin Kudamm in Berlin.

Sofitel adds in Africa. Accor’s Sofitel brand is expanding in Africa by opening the 198-key Sofitel Cotonou Marina Hotel & Spa in West Africa’s Benin. The hotel is the brand’s 16th in Africa.

IHCL adds in Hosur. Indian Hotel Co. Ltd. (IHCL) is partnering with EMC Palaniappan to sign Vivanta and Ginger hotels in Hosur, India. The greenfield project for the 150-key Vivanta and 200-key Ginger will be developed together on a 3-acre land parcel. IHCL has 22 hotels, with six in its pipeline in Tamil Madu.

New APAC study. The 2024 APAC (Asia Pacific) Hospitality Impact Study found that 68% of APAC travelers would increase their hotel spending for personalized experiences, with 73% willing to pay up to 30% more for room upgrades when offered post-booking. The study was conducted by Singapore-based Agilysys and surveyed over 1,000 travelers from Australia, Hong Kong, New Zealand and Singapore. It also found that 66% of respondents would likely spend more if wait times were reduced across all hotel experiences, and 68% would increase spending when a robust loyalty program is in place. The research also found a significant “rebooking paradox” in the APAC market: despite high satisfaction levels (86%) and perceived value for money (61%), only 37% of travelers choose to return to hotels they’ve previously stayed at. The study found that staff interactions play a crucial role, with 46% of respondents valuing staff who go the extra mile, 41% appreciating personalized activity recommendations, and 30% being influenced by staff recalling previous conversations. Personalized touches also have a significant impact, as 40% of guests value being given their favorite room, 28% are likely to spend more when restaurant staff remembers their preferences and 57% respond positively to small surprises like pillow chocolates. For more information on the study, click here.

New Minister of Tourism for Ecuador. Ecuador President Daniel Noboa has appointed Mateo Julián Estrella Durán as the new Minister of Tourism of Ecuador. Durán has extensive experience in tourism management, international relations, and sustainable development, highlighting a commitment to enhancing Ecuador’s position as a top global destination. Before this, he was an advisor at the Ministry of Tourism and also led the Ecuadorian Association of Eco-Tourism and Adventure Travel, advocating eco-friendly practices and community partnerships for more inclusive economic growth.