Latest news: $50M refi in Savannah; Sofitel to debut in Dublin; adaptive reuse in Georgia

JV secures $50M refi. A joint venture from a pair of Atlanta-based firms, Regent Partners and Mariner Group, and New York City-based Cadre, has secured a $50-million first mortgage debt to refinance 193-key Thompson Savannah in Savannah, Georgia. The five-year, non-recourse financing takes out the original construction loan on the hotel, which opened in August 2021. Los Angeles-based Mesa West Capital provided the financing, which Berkadia secured.

Sofitel to debut in Dublin. Accor is partnering with London-based Arora Group and has broken ground on a new luxury hotel near the Dublin, Ireland, airport. The 412-key Sofitel Dublin Airport is scheduled to open by late 2026 and will be the first Sofitel hotel in the city.

Edgewater acquires in Georgia. Americus, Georgia-based Edgewater Group has acquired a historic bank building in Americus from an undisclosed seller for an undisclosed amount through its affiliate, 120 North Lee QOZB LP, Georgia. They intend to turn the building into an upscale extended-stay property. The adaptive reuse project will be called Alluxsuites at the Vault.

Dalata acquires in Dublin. Dublin, Ireland-based Dalata Hotel Group has acquired the 229-key Radisson Blu at Dublin Airport from an undisclosed seller for €83 million. The hotel, which Windward Asset Management currently manages, was refurbished in 2019 and had an EBIDTA of €6.5 million in 2023.

ASHG acquires in Brussels. Frankfurt, German-based Alchemy Step Hotel Group has acquired the 142-key Gresham Belson Hotel in Brussels, Belgium, from an undisclosed buyer for an undisclosed amount. The transaction, effective on November 1, follows the recent addition of eight hotels across Belgium by ASHG in October. ASHG is an investment partnership between Alchemy Special Opportunities and Step Partners GmbH, dedicated to investing in the European hotel sector. In line with the ASHG operating model, the property will undergo renovations and the overall rebrand is planned for the fourth quarter of 2025 when the renovations are complete.

Hyatt adds in Mexico. Hyatt Hotels Corp. is rebranding the Thompson Playa del Carmen Main House and Beach House in Playa del Carmen, Mexico, as Hyatt Centric Playa del Carmen. The 119-key hotel will be the second Hyatt Centric in Mexico, following Hyatt Centric Campestre León.

Four Seasons branded residences in Spain. Toronto-based Four Seasons Hotels and Resorts is set to open luxury villas adjacent to the historic Formentor Hotel on the island of Mallorca in Spain.  The 110-key Formentor Hotel, which opened in 1929, was acquired in 2020 by fund manager Emin for over €100 million. Following the purchase, Estudio Lamela, which previously collaborated on the design of the first Four Seasons in Spain in Madrid, initiated an extensive renovation project. The hotel partially reopened in August but will not operate at full capacity until next year. This will be Four Season’s second branded residences project in Spain.

Bob W expands to Sweden. Helsinki, Finland-based Bob W has signed a lease for its first property in Sweden, marking a major step in its European expansion and completing its presence across all four Nordic capital cities. The seven-story Bob W Stockholm City Centre will undergo a comprehensive refurbishment to transform it into a Bob W building and is expected to reopen in the summer of 2025. The hotel is the company’s first venture into the Swedish market, strengthening Bob W’s foothold across Europe and adding to its presence in 17 cities across 10 countries.

Grand Metropolitan acquires Top International Hotels. Switzerland-based Grand Metropolitan Hotels has acquired a majority share in Düsseldorf, Germany-based Top International Hotels, a company currently supporting more than 400 owner-operated hotels with sales and marketing activities. Grand Metropolitan Hotels said the move would expand its portfolio and the transaction would be effective January 1. Top International's core market of the hotel affiliations is in Germany, while its member hotels are spread internationally, from Reykjavik, Iceland, to Muscat, Oman. Grand Metropolitan operates more than 300 hotels and 20,000 rooms in Europe, the Middle East and Africa.