Latest news: Noble's 10th StudioRes; first dual-brand in Vegas; sale in Pennsylvania

Noble developing 10th StudioRes. Atlanta-based Noble Investment Group is breaking ground on its 10th StudioRes with Marriott International in Mobile Alabama at McGowin Park. The groundbreaking marks the continued expansion of Marriott’s new extended-stay brand. The first StudioRes opened in Fort Myers, Florida, earlier this year, and Marriott has over 50 projects in its signed pipeline, with about half of them currently under construction.

First dual-brand in Vegas. Fairfax, Virginia-based Crescent Hotels & Resorts is adding the dual-branded AC Hotel by Marriott Symphony Park and Element by Westin Symphony Park to its portfolio. The project, developed by Dallas-based Jackson-Shaw, is the only dual-branded hotel in Las Vegas and the first non-gaming property in the Symphony Park district. The property is also the largest AC/Element hotel in the world.

Pennsylvania hotel sells. The 137-key Residence Inn in Conshohocken, Pennsylvania, has been sold by an entity associated with Harrisburg, Pennsylvania-based Hersha Hospitality to Marlton, New Jersey-based The Wankawala Organization for an undisclosed amount, according to The Philadelphia Business Journal. Hersha bought the hotel in 2015 for $17.97 million. The hotel was built in 2001.

CapitaLand acquires in South Korea. Singapore-based CapitaLand Group Pte. Ltd. has completed its first successful hospitality acquisition in South Korea with the purchase of the 161-key The Connoisseur Residence in Yeouido, Seoul, for KRW73 billion, according to HVS. Originally developed by South Korea-based Kunyoung Co., Ltd., the asset was designed and operated by South Korea-based Trinity D&C Co., Ltd. Before CapitaLand’s acquisition, over half of the units had been pre-sold to individual buyers.  

Accor partners in Australia. Accor and New South Wales, Australia-based Elanor Investors Group announced the strategic repositioning and rebranding of four properties within its Elanor Hotel Accommodation Fund. The properties will be managed by 1834 Hotels, and will officially join Accor’s network in October 2025. As part of the fund’s asset enhancement strategy, the following hotels will transition to Accor’s brands: the Byron Bay Hotel and Apartments will rebrand to The Sebel Byron Bay; the Barossa Weintal will rebrand to Mercure Barossa Valley; the Clare Country Club will rebrand to Peppers Clare Valley; and the Adabco Boutique Hotel Adelaide will rebrand to Mantra Wakefield Adelaide.

Ascott adds in Thailand. Singapore-based The Ascott Ltd. Thailand (Ascott) has entered into a strategic partnership with Phuket HA 3 Co. Ltd. and Above Patong Residence Co. Ltd. to manage and brand the Ascott Above Patong Phuket development. The Ascott Abov Patong Phuket Resort and Residences at Ascott Abov Patong Phuket development would mark Ascott’s first resort and branded residences in Phuket. It will comprise 482 units across both resort and residential components. Ascott currently manages 26 properties across Bangkok, Pattaya, and Sri Racha, with three more properties in the pipeline.

IHCL adds Gateway. Indian Hotels Co. Ltd. (IHCL) has signed a new brownfield project under its Gateway brand in Pahalgam. The resort, being developed in collaboration with Cemtac Cements, will have 64 keys.

Record occupancy for Abu Dhabi. Abu Dhabi’s hotel industry posted its highest August occupancy on record, aided by a concert, according to preliminary data from CoStar. For August, occupancy was 79.3% (+4.4%); ADR AED482.32 (+10.6%) and RevPAR was AED382.25 (+15.4%). In addition to the monthly record in occupancy, the market posted its highest August ADR and RevPAR since 2008.

Sydney hits record ADR, RevPAR. Boosted by several events, Sydney’s hotel industry posted its highest August ADR and RevPAR, according to preliminary data from CoStar. For August, occupancy was 84.4% (+8.7%); ADR was AUD285.71 (+14.9%) and RevPAR was AUD241.18 (+24.9%). Additionally, the market recorded its highest August occupancy since 2018.