Latest news: Auberge gets construction loan; Woodvale buys again; Marriott CEO interview

Construction loan for mixed-use Auberge project. New York City-based Witkoff and Hallandale Beach, Florida-based PPG Development have secured a $273 million construction loan for a mixed-use luxury condo and hotel project in Hallandale Beach, Florida, according to the Real Deal. The developers broke ground on the Residences at Shell Bay, a 20-story, 108-unit condo tour and a 21-story, 60-key Auberge hotel. Both projects are scheduled to be completed in 2027. J.P. Morgan and BDT & MSD Partner provided the financing.

Woodvale acquires in Tennessee. Atlanta-based Woodvale has acquired the 163-key dual-branded Courtyard and Residence Inn Memphis Southaven in Tennessee from Franklin, Tennessee-based Chartwell Hospitality for an undisclosed amount. Chartwell will continue to manage the property. Hunter Hotel Advisors brokered the transaction. Earlier this week, Woodvale acquired the Fairfield Inn & Suites Atlanta Buford Mall of Georgia from Hotel Equities.

Marriott CEO: “We are firing on all cylinders.” Marriott International CEO Anthony Capuano told CNBC this week that the company’s business operations and growth are solid despite layoffs of more than 800 corporate employees and continued sluggishness in China’s tourism market. “We are firing on all cylinders in every geography,” he said. During the interview, Capuano said he does not believe lackluster domestic demand in China will be a problem in the long term. “We signed more deals in the first half of 2024 than in any six-month period in our history in China. And so, to me, that suggests that both public and private real estate entities in China are betting on the long-term viability of the travel and tourism space.”

Staypineapple’s first management hotel. Bellevue, Washington-based Staypineapple Hotels has sold the Watertown Hotel in Seattle to Lynnwood, Washington-based Sohal Hotels. Staypineapple will now manage the property under its first management and licensing agreement. The 100-key Watertown Hotel was built in 2001, became a part of the Pineapple Hospitality portfolio in 2008 and was officially branded as a Staypineapple property in 2013.

Tandem adds in Florida. Catalyst, The Thrash Group, and The 1559 Collective, in partnership with Lexington, Kentucky-based Tandem Hospitality Group, broke ground on a new upscale hotel in Pensacola, Florida. The 122-key Hotel Tristan is scheduled to open in late 2026.

Lodging Dynamics adds in Sedona. Provo, Utah-based management company Lodging Dynamics Hospitality Group will manage the 137-key The Wilde Resort and Spa in Sedona, Arizona.

US hotels mixed last week. Because of the Veteran’s Day calendar shift, U.S. hotel for the week of November 10-16 reported mixed year-over-year performance comparisons, according to CoStar data. Occupancy was 63.3% (up 1.5%), ADR was $154.96 (down 1.1%) and RevPAR was $98.11 (up 0.4%). Among the top 25 markets, Tampa saw the largest increases across occupancy (up 30.3% to 87.2%), ADR (up 17.4% to $176.73) and RevPAR (up 52.9% to $154.16) because of continued displacement demand from Hurricane Milton. The steepest RevPAR declines in Las Vegas (down 47.1% to $136.28 because of the Formula 1 race calendar shift) and San Francisco (down 27.8% to $139.74).

First Hyatt Centric in Costa Rica. Hyatt Hotels Corp. is opening the 161-key Hyatt Centric San José Escazū, which marks the first Hyatt Centric branded hotel in Costa Rica. The hotel joins seven other Hyatt Centric properties across Latin America and the Caribbean and more than 60 branded hotels globally.

Staycity expanding in Europe. Dublin-based aparthotel operator Staycity Group is set to expand in the DACH (Germany, Austria and Switzerland) region, with plans to operate hotels in Germany and Austria after acquiring a majority stake in the hospitality arm of Munich-based real estate developer Denkmalneu Group. The deal will see existing properties in Leipzig and Dresden rebranded as Staycity Aparthotels, while the 130-key property in Vienna, currently under construction, will open under the group’s Wilde brand in the second quarter of 2025. Staycity Group currently operates 35 aparthotels across France, Germany, Ireland, Italy and the U.K.

Strawberry, Quality to manage Stockholm hotel. Stockholm-based Swedavia said Oslo, Norway-based Strawberry and Nordic hotel chain Quality Hotel will manage its new hotel at Stockholm Arlanda Airport. The hotel is being billed as the largest in the Nordics with 656 rooms and will be situated adjacent to the SkyCity terminal. Construction of the hotel is expected to begin in 2027 and is scheduled to open in 2029.