Latest news: $1.1B refi for Atlas; Caesars to California; Crescent adds in NYC

Atlas secures $1.1B portfolio refi. New York City-based Atlas SP Partners has secured a $1.1 billion refinance of floating-rate mortgage loans backed by 67 hotels based in the U.S. and the majority are Marriott, Hilton, Hyatt or IHG-franchised properties. Atlas is the warehouse finance and securitized products business that is majority owned by Apollo funds. Atlanta-based Access Point Financial (APF) deployed the financing.

New Caesars in California. Dry Creek Rancheria and Caesars Entertainment have broken ground on a joint project to turn River Rock Casino in Geyserville, California, into Caesars Republic Sonoma County. The partnership was launched when Dry Creek Rancheria Band of Pomo Indians selected Caesars Entertainment as its development and management partner for the new integrated resort. The resort casino will be renovated and feature a new casino floor. It will also be home to a new 100-room hotel with a spa, pool, and fitness center.

Oyo adding 300 hotels in 2025. Oyo has added over 150 new hotels to its Oyo U.S. portfolio in the first half of 2025 and is poised to add 150 more hotels by the end of the year. The new hotels have added in Texas, Virginia, Georgia, Mississippi, California, Michigan and Illinois. The company said it is focusing on adding high inventory properties and has added 10 properties with over 100 rooms, among them are the 400-key oceanfront resort Palette Sunset Waves Resort in Myrtle Beach, South Carolina; the 130-key Capital O Kings Inn in Memphis,  Tennessee; a 130-key Travelers Inn by Oyo in Douglas, Georgia, and a 140-key Jackson Hotel and Convention Center in Jackson, Tennessee. Oyo said it will continue to accelerate its U.S. portfolio growth through expansions, partnership-driven signings and conversions. Additionally, Oyo is exploring new urban and suburban markets across the Sun Belt and Great Lakes regions.

Crescent adds in NYC. Fairfax, Virginia-based Crescent Hotels & Resorts is adding the 288-key NH Collection New York Madison Avenue to its management portfolio. The hotel is set within a restored early 20th-century Renaissance Revival building, once home to a college residence for men as well as various fraternities. Crescent operates over 120 hotels and resorts in the U.S. and Canada.

Lead Real Estate sells 2 in Japan. Tokyo-based Lead Real Estate Co. Ltd. has sold the long-term stay hotels Ent Terrace Akihabara and Ent Terrace Asakusa and two condominiums in Japan to Tokyo-based Samurai Capital Co. Ltd. for an undisclosed amount.

Minor adds Avani in Singapore. Minor Hotels is partnering with Singapore-based Kajima Development and Abu Dhabi-based Al Wathba Investment to add its first Avani in Singapore with the 200-key Avani Singapore. The 14-story hotel is scheduled to open in 2027.

IHG adds in Vietnam. IHG Hotels & Resorts is partnering with LCK Hospitality Co. Ltd. to develop a Vignette Collection property in Ho Chi Minh City, Vietnam. The 52-key hotel will be the second Vignette Collection in the country and will be the 23rd hotel open globally. IHG currently operates 20 hotels under eight brands in Vietnam with a pipeline of 22 properties.