Latest news: Baywood $35.5M refi; Hilton back to Atlantic City; Mint House buys Locale

Baywood’s $35.5M Miami hotel refi. Columbia, Maryland-based Baywood Hotels has secured a $35.5 million senior loan for the Moxy Miami Wynwood. Baywood secured the loan from Synovus Bank, a component of a broader recapitalization of the hotel, which opened last October. Hunter Hotel Advisors represented the borrower in the transaction.

Hilton to return to Atlantic City. Hilton has reached a deal with Colosseo Atlantic City Inc. to operate a hotel at a former Atlantic City casino once the builder is renovated into a combination hotel and condominium complex, according to NJ.com. The property has been vacant since 2014 and has two towers; one will be converted into a condo and the other into a Hilton hotel. Colosseo said the property could reopen by 2026. Hilton operated a casino-hotel on the property until 2012.

Mint House acquires competitor Locale. New York City-based residential hospitality provider Mint House has acquired Austin, Texas-based Locale for an undisclosed amount. The deal deepens Mint House’s presence in key markets like Nashville, Dallas-Fort Worth and Washington, D.C. and allows it to expand into new markets like Menlo Park, California; Madison, Wisconsin and Phoenix. Mint House’s total portfolio will now have 22 properties in 13 markets.

IHG adding Regent in Makkah. IHG Hotels and Resorts is partnering with AIMS Holding to bring its Regent brand to Makkah in the Kingdom of Saudi Arabia. The 330-key Regent Makkah will be located just steps from Al Haram Al Sharif. Construction is already underway on the hotel.

G6 Hospitality HQ sold. Fisher Asset Management, a division of Plano, Texas-based Fisher Investments, has purchased several office buildings in the Dallas suburb of Carrollton, including the headquarters of G6 Hospitality, which was acquired by Oyo International last year. A report by CoStar said that G6 is expected to depart its current headquarters for a smaller space.

Sage adds in San Francisco. Denver-based Sage Hospitality Group is adding the 316-key Hyatt Centric Fisherman’s Wharf San Francisco Hotel to its portfolio. This is the second collaboration with the owner, Tysons, Virginia-based Park Hotels & Resorts, following the addition of Hilton Denver City Center last December. Sage has a portfolio of more than 110 hotels, restaurants, bars, coffee shops and entertainment venues in North America.

Extended-stay supply, demand increased in 2024. Extended-stay hotel supply and demand increases accelerated in 2024 and rooms reported under construction topped 48,000, gaining 8% over last year, according to The Highland Group. The accelerating growth cycle going into 2025 resembles the start of the 2015-19 period in which 100,000 new rooms were absorbed and room revenues increased $4.5 billion. “Fundamental differences, such as far higher interest rates and real construction costs, exist between the current and most recent extended-stay hotel growth cycles but a substantial increase in room revenues remains likely over the next one to three years” said Highland Group Partner Mark Skinner.

Peachtree $1.6B in credit transactions. Peachtree Group deployed $1.6 billion in credit transactions in 2024, marking a 54% increase from 2023. The majority of Peachtree’s 2024 credit investments were concentrated in the hospitality ($876 million) and multifamily sectors ($392.3 million) while the remaining $297.4 million was deployed across industrial, land, mixed-use, retail, office and single-family residential asset classes.

Hilton opens first Signia outside US. Hilton is opening its first Signia outside of the U.S. with the Signia by Hilton Amman in Jordan. The 272-key hotel is located in the Shmeisani business district.

G6 invests $10M in website, app. Carrollton, Texas-based G6 Hospitality has announced a strategic $10 million investment to grow its website and My6 app. The company also aims to increase app installs by 4x before the summer and G6 will also use advanced digital targeting strategies, focusing on high-intent customers through direct partnerships with digital platforms like Google and Microsoft.

Artyzen adding in China. Hong Kong-based Artyzen Hospitality Group, a wholly owned subsidiary of Shun Tak Holdings Ltd., has signed a management agreement with Xi'an Yang's Real Estate Development Co. Ltd. to open its first Artyzen Hotels and Resorts luxury lifestyle hotel in Xi'an, China. The 280-key Artyzen Xi'an is scheduled to open in the first quarter of 2028.

Delays for Marina Bay Sands expansion. Las Vegas Sands Corp. said the expansion project for its existing Marina Bay Sands casino complex in Singapore is now expected to be completed by June 2030, with an anticipated opening date in January 2031. Last month, the company had affirmed in a revised agreement with the Singapore authorities plans for project completion by July 2029.