Latest news: Marriott resort in Missouri; Crestline adds in DC; Hawkins Way converts

X-Caliber adds in Missouri. Irvington, New York-based X-Caliber Capital Holdings has closed a $285 million Rural PACE-X financing for the ground-up construction and redevelopment of a resort in Missouri. The Oasis at Lakeport in Osage Beach, Missouri, has a total project cost of $495 million and features a 402-room Marriott hotel, a conference center, an indoor waterpark and amusement park. The combined financing consists of $220 million of conventional senior-secured debt through an affiliate of X-Caliber Rural Capital, XRL-ALC, LLC, and $65 million of C-PACE financing through CastleGreen Finance. This is X-Caliber’s largest Rural PACE-X transaction closed to date since the product launched in late 2024. In addition, the C-PACE financing is the largest to date for the state of Missouri and for CastleGreen Finance. The amusement park and attractions are slated to open in the spring of 2026, while the Marriott hotel and indoor waterpark are projected to open in late 2027.

Crestline adding in DC. Fairfax, Virginia-based Crestline Hotels & Resorts has been selected by Georgetown University to manage the Hoya Hotel at Georgetown, located on the university's campus in Washington, D.C. The five-story building, which was recently used for student housing, will undergo renovations, redesigns, and rebranding as it prepares to reopen in the spring of 2026. The facility will include 146 rooms and 13,000 sq. ft. of event space.

CEO for Ritz-Carlton Yacht. The Ritz-Carlton Yacht Collection has named Ernesto Fara as president and CEO. He succeeds Jim Murren, who will continue as executive chairman. Since joining the company in 2020 as CFO and board member, Marriott said Fara has played a central role in shaping the company’s strategy, financial operations and the development of its two newest superyachts, Ilma and Luminara. Earlier this year, he assumed the role of president. 

Hawkins Way converts to Marriott. Beverly Hills, California-based Hawkins Way Capital has opened the first two hotels under the new Series by Marriott brand — Found Miami Beach and Found Santa Monica, both of which opened this month. The openings mark the U.S. debut of Marriott’s newest collection brand and follow the strategic partnership announced in September between Hawkins Way Capital and Marriott International to convert six properties to Found Hotels, Series by Marriott. Last month, Hotel Investment Today talked to Leonard Ross, partner at Hawkins Way Capital, about the company’s recent deal with Marriott.

Concord acquires in New Jersey. Raleigh, North Carolina-based Concord Hospitality has acquired the 122-key Courtyard by Marriott Wayne Fairfield hotel in Northern New Jersey from Fishkill, New York-based RiverLink Hotels for an undisclosed amount. Built in 2018, the four-story hotel features an indoor pool, fitness center, onsite restaurant and 1,587 sq. ft. of meeting and event space. JLL facilitated the transaction.

Baltimore hotel sells. An affiliate of Vancouver-based American Hotel Income Properties REIT has sold the 131-key Residence Inn Baltimore White Marsh to an undisclosed buyer for an undisclosed amount. Hodges Ward Elliott brokered the deal.

CIM opening in Atlanta. Los Angeles-based CIM Group is opening the 292-key Hotel Phoenix in Atlanta on December 1, which will be the first hotel to open at Centennial Yards, the $5 billion, 50-acre mixed-use development in downtown Atlanta.

Hyatt $400M in senior notes. Hyatt Hotels Corp. announced the pricing of its public offering of $400 million aggregate principal amount of senior notes due 2035, which will bear interest at a fixed annual rate of 5.4%. The offering is expected to close on November 26, subject to customary closing conditions. The company intends to use the net proceeds to repay all of the company’s 4.85% notes due 2026 at or before their maturity on March 15, and for general corporate purposes if there are any net proceeds remaining that are not applied to the 2026 notes, and to pay fees and expenses related to this offering.

Middle East pipeline hits high. The Middle East’s construction pipeline reached an all-time project high, standing at 659 projects/163,816 rooms, at the close of the quarter, according to Lodging Econometrics. The pipeline increased 8% by projects and 9% by rooms year-over-year. The region’s construction pipeline shows strong activity, with 32 new project announcements totaling 7,184 rooms during Q3 2025, a 7% increase YOY. Projects under construction in the Middle East at the Q3 close stood at 332 projects/86,958 rooms, reflecting a YOY increase of 12% by projects and 9% by rooms. Projects scheduled to start construction in the next 12 months are at 161 projects/48,251 rooms, up 15% by projects and 33% by rooms YOY. Luxury hotels reached an all-time high of 199 projects/44,059 rooms, up 10% by projects and 6% by rooms YOY. Renovations and brand conversions reached a new all-time high of 79 projects/20,258 rooms, increasing 46% by projects, 67% by rooms YOY.

Monolith expands in the Middle East. Monolith Arabia, a Saudi, U.K., and U.S.–based real estate investment and development platform headquartered in Riyadh, London, and Boca Raton, Florida, announced a SAR 7 billion investment pipeline focused on hospitality, wellness, and residential destinations across Riyadh, Medinah and Asir. The platform connects U.S. and U.K. investment leadership with Middle East growth markets and is expanding international participation through a cross-border capital structure. Monolith Arabia also confirmed the signing of a MOU with the Ministry of Investment of Saudi Arabia to establish a framework for collaboration and ministerial support as the company advances institutional-grade assets, including tourism expansion.