Hilton
debuts LivSmart Studios. Hilton is partnering with Chattanooga, Tennessee-based 3H Group
and Miami-based Aztec Group to debut its new extended-stay brand, LivSmart
Studios, with the 89-key LivSmart Studios by Hilton Tullahoma in Tennessee. The brand’s second property owned by Indianapolis, Indiana-based Sun Management & Development Corp. is on track to open in Kokomo, Indiana, later this summer. It is Hilton
expects to open 90 LivSmart Studios hotels in the coming years and has over 225
deals in various stages of negotiation.
Braemar
sells Seattle hotel. Dallas-based REIT Braemar Hotels & Resorts has agreed to sell the 369-key Marriott Seattle Waterfront in Seattle
for $145 million to an undisclosed buyer. Including anticipated capital
expenditures of $7 million, the sale price represents an 8.1% capitalization
rate on net operating income for the trailing 12 months ended May 31. The
transaction is expected to close in August.
Four
Seasons debuts on Florida Gulf Coast. Four Seasons will make its debut on Florida’s Gulf Coast
this October with the opening of 220-key Naples Beach Club, A Four Seasons
Resort. The property features 57 suites and 153 luxury residences, located in
Old Naples and reimagined from the Naples Beach Hotel & Club.
Crestline
adds in Ohio. Fairfax, Virginia-based Crestline Hotels & Resorts has been selected by
Waxham, North Carolina-based Vision Realty Group in partnership with Villa
Hills, Kentucky-based Ashley Builders Group, to manage the Well House Hamilton,
Tapestry Collection by Hilton in Hamilton, Ohio. The hotel originally opened in
1927 and was converted into an apartment building before its recent $16 million
renovation and restoration. Crestline manages 133 hotels, resorts and
conference centers in 28 states and the District of Columbia.
Nexgen
acquires in Texas. Dallas-based Nexgen Management has acquired the 139-key Hampton Inn &
Suites El Paso-Airport from an institutional seller for an undisclosed amount
on June 25. Hunter Hotel Advisors facilitated the transaction.
Stonebridge
adds in New Jersey. Denver-based
Stonebridge had added the 244-key Marriott Saddle Brook in New Jersey to its
management portfolio. Victory Worldwide owns the hotel and recently had
renovations throughout the property. It is located 20 miles from New York City.
Peachtree
launches newest DST. Peachtree Group has launched its latest hotel property structured as a Delaware
Statutory Trust (DST). The 128-key SpringHill Suites Phoenix West Avondale is
in Avondale, Arizona, within the Phoenix metropolitan area. The SpringHill
Suites Phoenix West Avondale opened in August 2024 and is Peachtree’s ninth DST
offering since the firm launched the program in 2022.
New Ohio
dual-branded hotel. A pair of Cleveland-based firms, Spark GHC and J ROC Development, have
announced a joint venture to develop a dual-branded select-service hotel on the
SouthPark Mall property in Strongsville, Ohio. The project, internally referred
to as Project Mustang, will be situated adjacent to retail, dining, and
entertainment destinations, including the potential future home of the
Cleveland Browns’ stadium.
Blue
Diamond adds in Cancun. Toronto and St. Michael, Barbados-based Blue Diamond Resorts is adding
the 90-key Paraíso de la Bonita, A Luxury Collection Resort, Riviera Maya,
Adult All-Inclusive in Cancun to its portfolio in the coming months. Blue
Diamond has over 80 properties in the Caribbean.
Executive
moves at HHM. Philadelphia-based HHM Hotels has restructured its leadership team. Promoted to
executive vice president of operations were Cathy O’Brien, Hiram Negron, and
Doug Wilkins. Ray Perez continues to
serve as executive vice president of operations. Marsha
Ray, executive vice president and head of Canadian operations, was hired to
enhance the company’s Canadian foundation and position it for
significant future growth.
New COO
at Caliber. Scottsdale, Arizona-based Caliber has promoted Greg James to COO. He joined
Caliber in October as head of hotel asset management and replaced Ignacio
Martinez on July 7. James brings over 34 years of experience in hotel
operations and asset management. Before Caliber, he spent nearly two decades at
Summit Hotel Properties, where he served as senior vice president of operations
and also worked at Marriott International.
Accor
adds in Zimbabwe. Accor is partnering with Zimbabwe-based Eagle Real Estate Investment Trust to
develop a new build project in Victoria Falls, marking the company’s first
hotel venture in Zimbabwe. The 111-key Novotel Victoria Falls is scheduled to
open in 2028.
