Latest news: Marcus creates Marc; $42M refi in Savannah; Park recasts $2B credit facility

Marcus opening The Marc in 2026. Milwaukee, Wisconsin-based Marcus Hotels & Resorts announced that the west wing of the Hilton Milwaukee will reopen in early 2026 as The Marc Hotel, an independent 175-key hotel. The Marc Hotel is a nod to the Hilton Milwaukee’s storied history. Originally opened in 1928 as the Schroeder Hotel, the Marcus Corp. purchased the hotel in 1972 and renamed it the Marc Plaza Hotel. The hotel was renamed in 1995 after adopting the Hilton flag.

Sotherly $42M refi in Savannah. Williamburg, Virginia-based Sotherly Hotels has executed a $42 million secured loan with Citi Real Estate Funding, collateralized by a first mortgage on the DeSoto Hotel in Savannah, Georgia. The interest-only loan, which has a principal balance of $42 million, matures on October 6, 2030, and carries a fixed interest rate of 7.13%. Proceeds from the loan were used to repay the existing first mortgage and for general corporate purposes.

Silverwest sells in Denver. Denver-based Silverwest Hotels has sold the 302-key The Inverness Denver, a Hilton Golf and Spa Resort, in Englewood, Colorado, to Crestview Hills, Kentucky-based Columbia Sussex for $48.5 million, according to the Denver Business Journal. JLL facilitated the transaction. Columbia Sussex also recently acquired the Westin Westminster in Denver for $84.5 million.

Southern Hospitality sells in Tennessee. Greer, South Carolina-based Southern Hospitality has sold the 131-key Courtyard Memphis Collierville in Collierville, Tennessee, to a Texas-based investor for an undisclosed amount. The hotel was last renovated in 2023. Hunter Hotel Advisors facilitated the transaction and secured an $8.7 million bridge loan for the buyer.

US hotels down last week. The U.S. hotel industry from September 7-13 reported mostly negative year-over-year comparisons, according to CoStar data. Overall, 16 of the top 25 markets reported an occupancy decline. Occupancy was 65.4% (-1.8% YOY); ADR was $162.71 (+0.1% YOY) and RevPAR was $106.43 (-1.7% YOY). Among the top 25 markets, Anaheim registered the steepest decreases across each of the three key performance metrics: occupancy (-15.4% to 70.6%), ADR (-10.5% to $212.16) and RevPAR (-24.2% to $149.80). The market’s declines were due to a comparison against the dates of RE+ 24. Washington, D.C., saw the second-largest performance drops: occupancy (-11.7% to 67.8%), ADR (-7.4% to $198.85) and RevPAR (-18.3% to $134.77).

Park completes recast of $2B credit facility. Tysons, Virginia-based REIT Park Hotels & Resorts has amended and restated its existing credit agreement to increase capacity under a senior secured revolving credit facility from $950 million to $1 billion, extend the termination date of the revolving facility to September 17, 2029, and add a new senior unsecured delayed draw term loan facility of up to $800 million, available in up to three draws for up to one year after closing, with a scheduled maturity date of January 2, 2030. The credit agreement also provides for a senior unsecured term loan in the original principal amount of $200 million incurred on May 16, 2024, bringing the aggregate capacity under the credit facilities to $2 billion. Park intends to draw from the 2025 term facility in 2026 to fully repay the $123 million secured mortgage loan encumbering the Hyatt Regency Boston maturing in July 2026, and, together with a subsequent financing transaction planned in the first half of 2026, fully repay the $1.275 billion secured mortgage loan encumbering the Hilton Hawaiian Village Waikiki Beach Resort maturing in November 2026.

New CEO of Atrium Hospitality. Alpharetta, Georgia-based Atrium Hospitality has announced several senior leadership promotions. Rob Mangiarelli has been promoted to CEO after serving as president. A founding executive committee member at Atrium Hospitality, Kimberly Furlong has been promoted from chief commercial officer to president. In her expanded role, she will oversee both the commercial and operations teams, bringing sales, marketing, and operational excellence under one person. Lars Schrader, who began his Atrium Hospitality career as a general manager in 2019 and rose to vice president of operations in 2022, has been promoted to senior vice president of operations. Atrium also announced that general counsel Seth Ruzi will retire at the end of 2025 after more than three decades in the hospitality industry, including seven and a half years at Atrium. He will continue to consult on special projects.

New CFO for RLJ. Bethesda, Maryland-based RLJ Lodging Trust has named Nikhil Bhalla as CFO, effective immediately. Since joining the company in 2015, Bhalla has held a variety of leadership positions, most recently serving as senior vice president of finance and treasurer. Before joining RLJ, Bhalla served as vice president of equity research at FBR Capital Markets & Co. and also worked at Host Hotels & Resorts and CB Richard Ellis.

Manhattan casino proposals dead. Casino proposals in Manhattan spearheaded by a pair of New York City-based companies, SL Green Realty Corp. and Silverstein Properties, are dead following votes Wednesday by community advisory committees. The committees voted no for both the SL Green/Caesars Entertainment proposal for Times Square and the Silverstein-led Avenir project that would have been built in Hudson Yards. New York State is looking to award three downstate casino licenses by the end of 2025.

World’s largest capsule hotel opens. London-based Criterion Capital is opening phase one of the world’s largest capsule hotel under its Zedwell brand. Located in the London Pavilion, the new Zedwell Capsule Hotel Piccadilly Circus offers nearly 1,000 individual “capsules.” Situated next to Zedwell’s flagship hotel at the Trocadero, Zedwell Piccadilly Circus, guests can go into soundproofed, windowless-by-design capsules crafted from oak and softly illuminated with ambient lighting.

UK resorts sell. The Manor and Ashbury Resorts in Okehampton in the U.K have been acquired by Seattle-based Evergreen Escapes Group from the Essex family for an undisclosed amount. The two resorts have been sold together, spanning 546 acres and have two hotels, located less than two miles apart, with a combined total of 404 rooms. Regarded as one of the U.K.’s premier activity holiday destinations, the Ashbury site is recognized as the ninth largest golf resort in the world, with five 18-hole golf courses and 103 holes of golf in total.

IHG adds Regent resort in Japan. IHG Hotels & Resorts is expanding the Regent footprint in Japan with its first resort location. The 58-key Regent Karuizawa, a new-build resort in Karuizawa, is scheduled to open in 2028. IHG has 55 open hotels across 10 brands and 17 pipeline properties in Japan.

Kerzner adds in Dubai. Dubai-based Kerzner International Holdings has assumed management of The Meydan Hotel in Dubai, which is owned by Dubai Holding. Following renovations to the rooms and public areas, the hotel is reopening in early 2026.