US pipeline update. At the end of the second quarter, there were 6,280 projects
with 737,036 rooms in the U.S. pipeline, according to Lodging Econometrics.
This represents a 3% year-over-year (YOY) increase in projects and rooms
compared to Q2 2024. At the close of the second quarter, there were
1,120 projects comprising 138,776 rooms under construction. Projects slated to
start construction anytime within the next 12 months total 2,263, comprising
260,052 rooms. Both projects and rooms in the under construction and scheduled
to start in the next 12 months stages are down slightly YOY at the Q2 close.
However, projects and room counts in the early planning stage increased by 13%
and 14% YOY, respectively, ending the quarter at 2,897 projects and 338,208
rooms.
Negative performance in US. The U.S. hotel industry from July 13-19 reported negative
year-over-year comparisons, according to CoStar data. Occupancy was 71.6%
(-2.6% YOY); ADR was $165.49 (-0.7% YOY); and RevPAR was $118.54 (-3.3% YOY). Among
the Top 25 Markets, San Francisco reported the highest occupancy lift (+7.8% to
77.2%). Houston recorded the steepest declines in each of the three key
performance metrics: occupancy (-27.6% to 59.6%), ADR (-14.7% to $115.94) and
RevPAR (-38.3% to $69.07). The decreases are largely due to the elevated
displacement demand period that followed Hurricane Beryl in 2024. Las
Vegas registered the second-largest drops in occupancy (-11.9% to 74.3%) and
RevPAR (-17.1% to $142.62).
Hyatt Place sale. The 126-room Hyatt Place at the Minneapolis-St.
Paul International Airport has been sold by Hospitality Investors Trust Inc., a
company formerly known as American Realty Capital Hospitality Trust, for $7.4
million, according to a recently released records. American Realty Capital
Hospitality Trust bought the property in 2015 for $14.7 million. The buyer is
reportedly related to Yash Hospitality. The property was sent to auction in May
and had an initial starting price of $2.2 million.
Courtyard in Munich trades. Union Investment has sold the 248-room Courtyard by Marriott
Munich City Center to Blue Coast Capital €74.9 million. The hotel had been part
of the portfolio of the open-ended real estate fund UniImmo: Europa since 2006.
“The hotel market in Munich performed impressively in 2024. Alongside Berlin
and Hamburg, the Bavarian capital is the hotel property market in Germany that
is currently attracting the greatest interest from investors. We have therefore
taken advantage of the current market opportunity and successfully sold the
Courtyard by Marriott after a holding period of 19 years,” said Andreas Lochner,
head of Investment Management Operational at Union Investment.
Mama Shelter to Bangkok. Mama Shelter Bangkok Platinum with 578 guestrooms across 47
floors will open in 2030, according to Ennismore. Part of the new mixed-use
development, The Platinum Square, a 48-story building, will house a four-story
shopping center in addition to the hotel.
Strong June for Canada. Canada’s hotel industry in June 2025 reported year-over-year
performance growth for the second consecutive month, according to CoStar data. Occupancy
was 75.6% (+1.5% YOY); ADR was CAD239.06 (+2.9% YOY); and RevPAR was CAD180.77
(+4.4% YOY). Growth was lower than May, when RevPAR grew 5.1%. Among the
provinces and territories, Manitoba posted the highest increases in occupancy
(+10.8% to 80.3%) and RevPAR (+21.1% to CAD143.65). The province’s ADR also
rose 9.3% to CAD178.88. Alberta recorded the only double-digit ADR lift (+14.2%
to CAD247.42). Among the major markets, Calgary posted the highest growth
in each of the three key performance metrics: occupancy (+12.2% to 85.5%), ADR
(+33.8% to CAD248.77) and RevPAR (+50.1% to CAD212.65). The market’s
performance was helped by the Global Energy Show.
JET starts new division. JET Hospitality, Seattle, is launching a Development
Division led by partner and former COO Aaron Mumford. Initial efforts will
focus on rolling out the JET Extended Stay Lifestyle Rentals platform, as the
company aims to support workforce housing needs in recreational markets
impacted by heavy seasonality and limited demand during slow months. JET
Hospitality said it is also exploring soft branding, licensing, and outside
management opportunities into 2026 and beyond. Development arm, JET Asset
Management, is actively raising capital and exploring deals, with a goal of
closing the $5 million JET Growth Fund by year’s end. The company said it remains
actively engaged in negotiations and is planning new locations across Washington,
Oregon, Idaho, Utah, Wyoming, Colorado, Nevada, Arizona, New
Mexico and beyond.
Former NYC Holiday Inn sells. Hawkins Way Capital has purchased from GF Hotels &
Resorts the former Holiday Inn hotel at 99 Washington Street in New York City’s
Financial District for $154.5 million, according to the Commercial Observer. GF
took the 492-key hotel from Jubao Xie as receiver after a foreclosure filing in
2022. The deal breaks down to $314,000 per room. A $137 million debt on the
property was transferred to Hawkins Way as part of the acquisition. Plans for
the property which housed migrants until last month are unclear.
New CEO for Nammos. Greece-based luxury barnd Nammos Hotels & Resorts has
appointed Carolyn Turnbull as CEO, effective immediately. Upcoming openings
include Nammos Resort AMAALA within Saudi Arabia’s Red Sea Global project,
Nammos Resort Maldives, and Nammos Resort Abu Dhabi. Additional destinations
across Europe, the Middle East, and Asia are also in the pipeline. The global
expansion of Nammos is backed by ADMO Lifestyle Holding, a strategic joint
venture between Monterock International and Alpha Dhabi Holding.
Aspen suing Pyramid. It was announced on Friday, July 18, 2025, that
Aspen Lodging Group, operating as Provenance Hotels, is suing Pyramid Global
Hospitality for the financial distress and risk of foreclosure at several
properties, as well as the possibility of future foreclosures, which it said
are a direct result of Pyramid’s mismanagement. The complaint alleges that
under Pyramid’s management, the hotels have experienced significant losses—with
claimed damages exceeding $60 million to Provenance’s related
entities. In December 2022, Aspen and Provenance transferred
management of its hotel portfolio to Pyramid as part of a planned business
transaction. Hotel Investment Today has reached out to Pyramid and its owners for comment.
Pellicano adds in Umbria. Pellicano Hotels, following its partnership with Aermont
Capital, has acquired La Badia, a 3,400-square-meter property in the
Umbrian hills, just outside the historic town of Orvieto in Italy. With an
investment of over €43 million— including both acquisitions and extensive
renovations—a 24-room hotel with expansive gardens will open in 2027. Amenities
will include an outdoor pool, a spa with treatment rooms, a boutique, a tennis
court, a fitness area, a restaurant, and a bar. The group has also acquired an
adjacent property, a structure overlooking Orvieto, which will enrich the
overall offering for guests.
KE grows in UK. KE Hotels has acquired the 84-room Queens Hotel Cheltenham
in England, marking its fifth owned property in the U.K. This latest addition
brings KE Hotels’ portfolio to eight hotels, five owned and three
managed. The acquisition follows a series of recent growth milestones for
KE Hotels, including the additions of Hotel Indigo Newcastle and Holiday Inn
Luton Airport in 2023. Following the Luton acquisition, KE Hotels has secured
planning permission to expand the property. In 2024, KE Hotels also assumed
management of three Hampton by Hilton hotels in Newcastle, Birmingham Broad
Street, and Sheffield under HMA agreements.
