Latest news: Hardage refinance; Flacks acquires in Georgia; strong month for extended-stay

Hardage secures $88.5M refinance. San Diego-based Hardage Hospitality has secured an $88.5 million loan to refinance the 288-key Courtyard & Residence Inn Marina Del Rey in California, according to the Commercial Observer. Santa Monica, California-based Beach Point Capital provided the financing and CBRE assisted with the transaction. Hardage has 25 hotels across 13 states in the U.S.

Flacks acquires in Georgia. Miami-based Flacks Group acquired the 180-key Crowne Plaza North Augusta in Georgia from an undisclosed buyer for an undisclosed amount. The hotel was built in 2019 and is located near Augusta National Golf Club, home of The Masters. Greenwood Village, Colorado-based HREC Investment Advisors brokered the deal, Hodges Ward Elliott secured the debt while Blue Lotus Ventures also advised on the acquisition. J.P. Morgan provided the financing. Flacks Group said it is searching for more hospitality properties as it continues to invest in the U.S.

Extended-stay strong in October. Extended-stay hotels posted their strongest monthly gain in room revenues in 18 months, according to The Highland Group. Although extended-stay hotels underperformed compared to the overall hotel industry in terms of occupancy, ADR and RevPAR gains, October was a very good month for the sector. Highland said demand growth was the highest since March 2022, extended-stay’s increase in occupancy was the biggest in 21 months, and October’s RevPAR gain was the greatest since June 2023. “October was a very good month for extended-stay hotels with four record high-performance metrics compared to the last 30 months,” said Mark Skinner, partner at The Highland Group.

First Signia in Jordan. Hilton has signed an agreement with Amman, Jordan-based Al Rabya Hotels, Tourism and Commercial Centers Co. Ltd. for the 272-key Signia by Hilton in Amman, Jordan, which will be international debut of the brand. The hotel is scheduled to open in January. 

Hilton adds first LXR in China. Hilton is partnering with Zhong Ding Guo Sheng to sign its first LXR Hotels & Resorts property in China. The LXR property is scheduled to open in 2027 in Xi’an. Since LXR’s debut in 2018, 13 luxury properties have opened worldwide. Hilton currently has 33 luxury hotels open and another 21 in the pipeline in the Greater China region.

IHG adds in Vietnam. IHG Hotels & Resorts has signed the 283-key Crowne Plaza Danang City Centre in Danang, Vietnam, under a management agreement with Regis Bay Vietnam Investment Joint Stock Co. The hotel is being rebranded from the existing Bay Capital Danang Hotel and is scheduled to open later this year.

Hilton adds resorts in Europe. Hilton is continuing its rapid expansion in the European resort market with four new franchise agreements that strengthen its Mediterranean portfolio. The newly signed resorts are the 75-key Hilton Mykonos Beach Resort & Spa and the 43-key Sound of the Sea Karpathos, Tapestry Collection by Hilton in Greece; the 184-key Casa de Sada Algarve, Curio Collection by Hilton in Portugal and the 65-key Hotel Preko Ugljan, Curio Collection by Hilton in Croatia. The four properties are scheduled to open over the next two years. Hilton has over 100 resorts open or under development in Europe.

Fortune adds in India. Gurgaon, India-based Fortune Hotels, part of the ITC hotel group, is set to open the Fortune Beachfront Puri hotel in India next month, according to the Economic Times. This will be the chain’s second venture in Odisha, India.

San Francisco strike. Staff for the San Francisco Marriott Marquis Hotel are on the picket line, according to union officials. About 500 workers went on strike Sunday, joining workers at the Grand Hyatt San Francisco, Hilton San Francisco Union Square, Marriott Union Square, Palace Hotel and Westin St. Francis, where workers represented by Unite Here Local 2 are already on strike.