Latest news: $55M Maryland refi; Hyatt Regency in NYC; luxury trade in Paris

$55M refi for four Maryland hotels. Baltimore-based H&S Properties Development Corp. has secured a $55 million loan to refinance a four-hotel portfolio in Maryland. The four hotels include the dual-branded, 120-key Courtyard Aberdeen at Ripken Stadium/78-key Residence Inn Aberdeen at Ripken Stadium and the dual-branded, 183-key Hilton Garden Inn Baltimore Inner Harbor/165-key Homewood Suites by Hilton Baltimore. The loan, provided by Atlanta-based Access Point Financial, is a floating-rate loan with a four-year term and a one-year extension option. The money will be used to refinance the existing debt and provide capital for a PIP.

Hyatt Regency in Manhattan. Hyatt is partnering with New York City-based Argent Ventures to open the 795-key Hyatt Regency Times Square, marking the brand's first hotel in Manhattan. Highgate will manage the property, which has gone through a multi-million-dollar renovation. The hotel's base contains 290,000 sq. ft. of commercial space, which is being marketed by CBRE. Hyatt has nearly 30 properties in New York City.

Zara founder buys in Paris. Pontegadea, the investment vehicle of Zara founder Amancio Ortega, has acquired the luxury Hotel Banke in Paris from Derby Hotels for €97 million after it acquired the property in 2007 for €75 million. Pontegadea reportedly plans further renovations of the property and will operate under the Radisson Collection brand. Derby Hotels will use the proceeds to focus on renovating its London property, The Caesar Hotel. Pontegadea’s hotel holdings include the Concepció by Novis, Nobis Hotel Palma, and Senator Playaballena, all in Spain.

Development firm launched. Jay Levell and Ryan Hanks, with a combined $6 billion in transaction experience, have launched Charlotte-based Long Road Partners, an investment and development firm focused on acquiring and repositioning hospitality and lifestyle real estate. The firm targets underperforming hotel, resort, short-term rental, and golf-oriented properties across the U.S., with initial activity in Texas, Florida and the Southeast. Long Road’s strategy includes both stabilized, cash-flowing properties and value-add opportunities, leveraging institutional expertise and operational experience. The firm’s strategy targets a diversified mix of stabilized, cash-flowing properties and value-add acquisitions, which includes branded and independent limited-service hotels, extended-stay properties and boutique assets. Long Road’s lifestyle and golf-oriented real estate segment will include resort-adjacent residential, branded condominiums and for-sale product integrated into golf and hospitality environments.

Florida hotel sells. Columbia, Maryland-based Baywood Hotels has acquired the 124-key Hyatt Place Miami Airport-West/Doral in Florida from an institutional seller for an undisclosed amount. Hunter Hotel Advisors facilitated the deal.

Pennsylvania hotel acquired. New York City-based nonprofit Nature Nurture Foundation has sold the 50-key Grand Eastonian Hotel & Suites in Easton, Pennsylvania, for $5.6 million to Easton-based CanalHouse Hospitality Enterprises. JLL represented the nonprofit in the transaction. The Grand Eastonian first opened in 1927 and was acquired by the nonprofit in 2000, when it was renovated.

New CEO for The Pig. Kevin Styles has been named CEO of The Pig Hotel, effective July 21. He replaces Tom Ross, who has served as CEO for the past three years. Denver-based KSL acquired the brand in March 2022.

ActivumSG acquires German apartment company. London-based ActivumSG has acquired the majority stake in German-based Centralis, a serviced apartment real estate platform currently focused on the German market. In addition to the corporate platform, the transaction includes four completed assets in Berlin, Bonn, and Lübeck, as well as projects in Hamburg, Düsseldorf, Cologne, Bonn, and Nuremberg, which are predominantly assets primed for value-add refurbishment plans. In aggregate, the nine assets total 550 keys. All the assets are pre-let to hospitality operators on long-term, inflation-indexed leases. ActivumSG and Centralis have a significant number of assets under exclusivity in anticipation of doubling the size of the portfolio by the end of 2025. Hotel Investment Today recently spoke with CEO Saul Goldstein, about luxury development and other opportunities for the active European investor.

Arora Group acquires Bloc Hotels. U.K.-based Arora Group has completed the purchase of Bloc Hotels, which specializes in developing, owning, and operating short-stay hotels. The acquisition includes the 245-key Bloc Gatwick and the 105-key Bloc Birmingham, along with two other sites in the U.K. that are yet to be developed. Originally known as a specialist airport hotel owner operator, the Arora Group established its first city center hotel in 2017 with the opening of the InterContinental London – The O2 and most recently has diversified further into the country house hotel market with Fairmont Windsor Park and Luton Hoo Hotel, Golf and Spa. 

Royal Minor's first management deal. Royal Minor Hotels Co. Ltd., a joint venture with Minor Hotels, has secured its first management deal with an Anantara project in Japan, partnering with List Development Co. Ltd. to develop the Anantara Karuizawa Retreat, which is scheduled to open in 2030. The new-build Anantara property will feature 51 keys, comprising suites and branded residences, on a 10-acre forested site facing Mount Asama in Karuizawa, Japan. The Anantara Karuizawa Retreat will have 23 suites and 18 two- and three-bedroom villas, which are being considered for future branded residence offerings, with further details to be announced as plans progress.

Yotel adds in Athens. London-based Yotel is expanding its European footprint with the launch of YotalPad Athens, a 113-key urban aparthotel set across three centrally located buildings in the Greek capital. This will be the the brand's debut in Greece with London-based Valpre Capital leading the development. The hotel is scheduled to open in the last quarter of 2026.

Banyan opening 100th hotel. Singapore-based Banyan Group is opening its 100th hotel this November with the Mandai Rainforest Resort in Singapore. The company is also set to deepen its presence in Africa with the late 2025 launch of its first safari resort, Ubuyu, A Banyan Tree Escape, in Tanzania. Banyan is also celebrating its 20th year in China and now operates 33 hotels across five brands in the country. The company has a portfolio of over 90 hotels and resorts, as well as more than 20 branded residences, operating across over 20 countries.

New brand for Dusit. Thailand-based Dusit International has launched its ninth brand, Dusit Hotels. The concept is already introduced at three operating hotels: the 261-key Dusit Hotel Doha in Qatar; the 207-key Dusit Le Palais Tu Hoa in Hanoi, Vietnam; and the 248-key Dusit Hotel AG Park in Chengdu, China. Another property, the 200-key Dusit Hotel Greenhills in Manila, Philippines, is signed and scheduled to open in 2026.

IHCL adds in Jaipur. Indian Hotels Co. Ltd. (IHCL) has signed a new hotel in Jaipur. The 160-key Vivanta Jaipurin Jagatpura is the closest hotel to the newly renovated Terminal 1 of Jaipur International Airport. IHCL will have 31 hotels in Rajasthan, including eight under development.