1754
Properties acquires in North Carolina. Weston, Florida-based 1754 Properties LLC has acquired the
319-key Marriott Winston‑Salem in North Carolina from an undisclosed seller for
an undisclosed amount. 1754 Properties plans to invest over $5 million in the
hotel to upgrade the meeting space, hallways and infrastructure. Atlanta-based
Hospitality Ventures Management Group will continue to operate the
hotel.
Pensacola
development with Reverb. The Dawson Company (dba Inspired Communities of Florida) has formed a
new partnership with Corporate Contractors, Inc. (CCI), which establishes both
as co-developers, co-owners and investment partners in Phase One of the $200
million redevelopment of Pensacola’s Maritime Park in Florida. The mixed-use
development will be anchored by the Reverb by Hard Rock Hotel and Rhythm Lofts.
US hotels
down last week. The
U.S. hotel industry from July 20-26 reported negative year-over-year comparisons, according CoStar data. Occupancy was 71.5%
(-0.7% YOY), ADR was $164.88 (-0.1% YOY) and RevPAR $117.88 (-0.8% YOY). Among the top 25 markets,
St. Louis reported the highest occupancy lift (+5.7% to 70.9%). Houston
recorded the steepest declines in each of the three key performance metrics:
occupancy (-19.7% to 61.1%), ADR (-7.7% to $117.02) and RevPAR (-25.9% to $71.54).
The decreases are largely due to the elevated displacement demand period that
followed Hurricane Beryl in 2024.
Latin
America pipeline update.
The pipeline in Latin America showed continued momentum for new hotel
development with stable growth in new hotel openings forecast through 2027,
according to the latest data from Lodging Econometrics. This progression is
supported by the region’s expanding construction pipeline, currently standing
at 748 projects and 116,648 rooms, marking a 22% increase in projects and a 20%
increase in rooms year-over-year. At the end of Q2, Latin America has 303
projects with 51,184 rooms under construction, reflecting a 20% YOY increase in
projects and a 15% increase in rooms. Additionally, projects scheduled to start
construction in the next 12 months stand at 197 projects and 30,943 rooms, up
5% by projects and rooms YOY, while projects in the early planning stage
increased by 44% YOY by projects to stand at 248 projects/34,521 rooms and up
45% YOY by rooms. The luxury chain scales with a new record-high project and
room totals of 142 projects and 27,428 rooms.
Four
Seasons adds in Mumbai. Four Seasons Hotels and Resorts is opening the 41-key Four Seasons
Private Residences Mumbai in India, which will be one of the tallest branded
residential towers in the world. The 64-story tower joins a growing lineup of
Four Seasons properties in India, including the Four Seasons Private Residences
Bengaluru and Four Seasons Hotel Mumbai.
Accor
adds first ibis in Moldova. Moldova is set to welcome its first ibis Styles hotel. The 100-key ibis
Styles Chișinău represents a €12 million investment and is scheduled to open
this fall. The hotel is being developed by Regata Imobiliare SRL and is located
near the Chișinău International Airport.
Lux
Collective adds in China. Singapore-based The Lux Collective is partnering with Shaoguan Greater
Nanhua Investment & Development Co. Ltd on the 108-key LUX Shaoguan,
Guangdong, which is the first international luxury hotel in Shaoguan City,
China. The project has a total investment of approximately RMB 360 million ($50
million).
