Rosewood taking on the famous Raleigh; Vignette Collection in Portugal – HOTELSMag.com
Rosewood takes over at Raleigh: New York-based property developer SHVO announced on Tuesday that the iconic Raleigh Hotel in Miami Beach will be managed by Rosewood Hotels & Resorts when it finally reopens in 2025. Renowned architect and designer Peter Marino will lead the development deal for $243 million for the hotel, which has been closed since 2017. The project includes a new 17-story condo tower with 44 beach-facing units and a members-only beach club. Raleigh’s iconic pool is expected to remain intact.
The PE giant invests in the Colombian operator: Private equity giant Advent International invests in GHL Hotels, a third-party manager based in Bogota, Colombia, to support its expansion in Latin America through new management deals, additional hotel investments and acquisitions other third-party hotel operators. GHL currently operates 62 hotels (over 7,000 rooms) in Colombia, Ecuador, Peru, Central America, Chile and Argentina. The investment follows Advent’s acquisition of a majority stake in US third-party giant Aimbridge Hospitality, which has approximately 1,500 properties in 20 countries. As of December 31, 2021, Advent had US$88 billion in assets under management.
New AAHOA leader: Following a vote by the AAHOA Board of Directors, Laura Lee Blake, Esq., will be the new President and CEO of AAHOA, the nation’s largest hotel owners association, effective May 16, 2022. Blake will succeed Ken Greene, who served in the role for a short time in 2021 and part of 2022. Blake has been a lawyer for over 25 years and was most recently a partner at Connor, Fletcher and Hedenkamp in Irvine, California. Blake previously worked for AAHOA for nearly 10 years, from 2005 to 2014, and says it was one of the highlights of his career.
Six Senses Fiji sells: Six Senses Fiji, one of the region’s leading 5-star luxury resorts, has been acquired by Sequitur Resorts, restructuring expert Vaughan Strawbridge and David McGrath of FTI Consulting have announced. Nick Thompson and Peter Harper, brokers for JLL Hotels & Hospitality, managed the sale. Completed in 2018, the resort has 24 villas on Malolo Island. After being closed for more than two years, the station had reopened following the restructuring.
Reuben Brothers acquires Chesterfield Lodge: The Reuben Brothers of London have acquired the 53-room Chesterfield Lodge resort in Palm Beach, Florida. An organization headed by Richard Launder sold the complex for US$42 million or US$792,000 per key. Spread over 33,000 square feet, the resort includes the Leopard Lounge Bar, courtyard and swimming pool.
KSL Resorts promotes Palmeri: KSL Resorts has promoted Michael Palmeri to Chief Investment Officer. Palmeri, formerly Senior Vice President of Investments and Business Development, will continue to lead the company’s real estate and hotel management portfolio into spin-off leisure-focused real estate and operations. Palmeri joined KSL five years ago. Previously, he was senior vice president, responsible for acquisitions and development for Lowes Hotels and also held senior positions in the investment and management department for Chartres Lodging Group and Abacus Lodging Investors.
Signature of the new IHG Vignette collection: IHG Hotels & Resorts has signed Casa de Companhia in Porto, Portugal, for its sweet luxury and lifestyle brand Vignette Collection. The hotel is expected to open later this year. Featuring 40 luxury suites, the hotel’s interiors have been restored to their original 18th century style for the hotel’s reopening. La Casa de Companhia includes a spa, fitness center, outdoor terrace and indoor and outdoor swimming pools. The hotel restaurant will offer a new menu, which is still being developed. The property marks IHG’s third partnership with MERCAN Group, having joined pipeline projects in Europe – Holiday Inn Express Evora and Holiday Inn Express Porto. Currently, IHG owns 17 properties in Portugal and eight pipeline projects. Vignette Collection, which launched in August 2021, is IHG’s sixth brand in four years. IHG currently has 17 brands in nearly 6,000 hotels in more than 100 countries.
Banyan Tree expands its portfolio in Mexico: Banyan Tree has announced the addition of its newest and sixth resort to its Mexican portfolio – Banyan Tree Veya Bacalar. The Veya-branded property is slated to open in 2025 and is located in the jungle of the Bacalar Lagoon region near the Belize-Mexico border, also known as the “Seven Color Lagoon.” Consisting of 35 villas and five residences, the complex will cost US$28 million to develop. It will also include a large swimming pool and four waterside restaurants, one of which is located directly above the lagoon. This will mark Banyan Tree’s third ownership in the Yucatan region and fifth under the Veya umbrella.
MGM continues to bounce back: MGM Resorts International reported first-quarter results on Monday, with losses narrowing to $18 million, 6 cents per share, on revenue of $2.85 billion, from a net loss of $331.8 million, 69 cents per share, on earnings of $1.65 billion per share. year earlier. It also announced its intention to acquire LeoVegas, a Swedish mobile games company to boost its global online games business. Strong hotel room revenue in Q1 generated $485 million in revenue from $144 million in 2021. ADR jumped 78% for the quarter to $197 per night from $129 a year earlier .
European operations 2021: Hotel transactions in Europe saw a strong recovery in Europe in 2021, with a total of €16.4 billion ($17.24 billion) of hotels changing hands, representing 322 individual transactions, 498 hotels and 79 000 rooms, revealed the European Hotel Transactions Report 2021 by HVS. About 65% of transactions in monetary volume were single assets, while 35% were wallets. Overall, hotel prices per room were more expensive than in 2020 and 2019, due to significant single-asset transaction price increases, particularly in the Nordics. Portfolios that were mostly trading had more hotels and more rooms per hotel than in 2020, underscoring investor confidence. The most active investors were mainly European, followed by North American investors. Asian investors were more active than in 2020, while Middle Eastern investors were considerably less active. Almost all types of investors have been active buyers throughout 2021, with hotel operators disposing of most hotels. Institutional and private investors were the biggest net buyers. Although total volume doubled from 2020 figures, it was down around 40% from 2019 levels due to significantly lower wallet transactions. Single-asset trading activity is expected to remain strong going forward. With an increase in tourism and conference indications, it should help generate high-end hotel revenues.
Canadian Investment Study: Hotel transaction activity in Canada has picked up, with real estate gaining significant momentum in 2021 and volume reaching nearly C$2 billion (US$1.55 billion), the report revealed. Canada Hotel Investment Report by Colliers Hotels. Exchanges for continued hotel use totaling C$1.18 billion (US$916 million) represented an impressive performance compared to approximately C$400 million (US$310.58 million) in 2020. The average price per room, which included all transaction types, was C$158,100 ($122,758), up 15% year-on-year and 16% from pre-pandemic transaction trends. Acquisitions for hotel use have been more dominant throughout 2021, accounting for nearly 60% of total volume and trading at relatively high prices, averaging CA$134,000 (US$104,046) per room , compared to CA$130,100 (US$101,017) in 2019. Government grants and solidarity lending community eased significant headwinds in the hotel asset class, with lender-driven sales remaining at historically low levels (2% volume). Large hotel deals in major city and resort markets saw significantly higher volumes, with eight deals over C$50 million (US$38.82 million), accounting for about a third of the total deal. year.
Trump’s inaugural committee settles with DC: Donald Trump’s family business and his 2017 US Presidential Inaugural Committee have jointly agreed to US$750,000 to settle a lawsuit brought by the Washington, D.C. Attorney General, who alleged that the Trump International Hotel in Washington had illegally received excessive charitable funds from the nonprofit Trump Presidential Inaugural Committee. society. The payment represents nearly three-quarters of the US$1.03 million that Attorney General Karl Racine said the committee had significantly overpaid to rent the hotel’s event space, including for a private party costing several hundred dollars. thousands of dollars for Trump’s adult children the night he became president.