John Testerman has joined JLL’s Hotels & Hospitality group’s Raleigh, NC office as senior director. He will work closely with Ketan Patel, who leads hotel investment sales in the Mid-Atlantic region, as well as Travis Anderson and Pete Pitroff, who head the Carolinas office. Testerman’s career in commercial real estate began in 2012. In his role as senior director, he will be … [Read more...]
Vision Hospitality breaks ground on dual-branded Hilton property
Vision Hospitality Group Inc. has broken ground on a dual-branded Home2 Suites and Tru by Hilton in Cleveland, TN. The forthcoming development will feature a combined total of 140 keys spanning five stories. Amenities will include 768 sq. ft. of flexible meeting space and an outdoor pool. Construction is projected to be complete in mid to late 2025. “We are thrilled to continue to strengthen … [Read more...]
Hospitality America promotes Leigh Holloway to chief strategy officer
Hospitality America has promoted Leigh Holloway to chief strategy officer (CSO) under the leadership of Ben Campbell, president/CEO Ben Campbell. Having joined Hospitality America in 2016, Holloway has had various roles within the company, including VP, revenue management and regional director, revenue management. In her new capacity as CSO, she will steer the strategic planning process, identify … [Read more...]
Choice reports Q1 net income of $31M
Choice Hotels International Inc., for the first quarter ended March 31, reported net income of $31 million. Domestic RevPAR decreased 590 basis points for the quarter compared to the same period of 2023, but increased 8.2% compared to the same period of 2019. “Building on our record 2023 financial results, we drove first quarter performance to new levels, with adjusted EBITDA and EPS … [Read more...]
Ashburton Hospitality adds 10 hotels to its portfolio
Officials of Ashburton Hospitality, a full-service consultancy firm focused on asset management, has added 10 hotels to its expanding portfolio. The Marriott-, Hilton- and IHG-branded hotels are located throughout the Midwest, Eastern seaboard and southeastern U.S. The hotels include Castle Hotel, Autograph Collection in Orlando; a Homewood Suites in Perimeter in Atlanta; Hotel Indigo in … [Read more...]
Management tactics that lead to award-winning properties
Hotels today promise unforgettable experiences—enticing amenities, unparalleled service. But what truly makes a hotel award-winning? While every hotel can claim they offer these types of stays, only a select few are actually recognized for it. Hotel management company Charlestowne Hotels prides itself on delivering these experiences for guests, while also gaining recognition. Last year, … [Read more...]
Residence Inn Savannah Midtown sold
Hunter Hotel Advisors facilitated the sale of the Residence Inn Savannah Midtown to HOS Management. Hunter’s Mayank Patel, SVP, representing the institutional seller. Located in Midtown Savannah, the 66-key hotel offers access to numerous nearby attractions including City Market, Oglethorpe Mall, Candler Hospital, historic downtown Savannah, River Street, SCAD and Memorial Health University … [Read more...]
Valor Hospitality opens Cloudland resort in North Georgia
Valor Hospitality Partners has opened Cloudland at McLemore Resort Lookout Mountain, Curio by Hilton, in Rising Fawn, GA. The North Georgia property is located at 2,300 ft. of elevation among the 800-acre landscape of McLemore Resort and includes two Rees-Jones & Bill Bergin-designed golf courses, a clubhouse and practice facilities. Developed by Scenic Land Company, Cloudland became the first … [Read more...]
NexGen Hotels acquires Chicago’s Hotel Versey
NexGen Hotels, a hotel development and management company based in Itasca, IL, has acquired Hotel Versey in Chicago. The 137-room hotel will be managed by Genuine Hospitality Group of St. Louis. The boutique hotel is housed within the 1920s Diversey Arms building, a Northside Chicago landmark, that first served as a home to jazz musician Bix Beiderbecke. Later it was known as the “Rock and Roll … [Read more...]
LE: Q1 Latin America construction pipeline up 11%
The latest Latin America Construction Pipeline Trend Report by Lodging Econometrics (LE) reveals robust growth in the region’s hotel construction sector. At the close of Q1 2024, the total hotel construction pipeline in Latin America stands at 604 projects and 100,990 rooms, marking an 11% increase in projects and a 12% increase in rooms year-over-year (YOY). At the end of the first quarter, … [Read more...]
OTO Development promotes Dennis Mitchell
Dennis Mitchell has been promoted to VP, development & construction at OTO Development, part of The Johnson Group. “Dennis has accrued an incredible depth and breadth of construction experience, from prototypical projects to complex builds in environmentally sensitive locations,” said Todd Turner, CEO, OTO Development. “The expertise he brings to the OTO leadership team will be an incredible … [Read more...]
Accor unveils its first Handwritten Collection hotel in U.S.
San Francisco will become the first destination in the U.S. for one of Accor’s newest brands, the Handwritten Collection. Owned and operated by San Francisco-based Frame Ventures, Hotel Stratford is a European-style boutique property set against the backdrop of Union Square on the Powell Street cable car line. The property becomes Accor’s third hotel in San Francisco, joining the … [Read more...]
Cronheim secures $41M to refinance Brooklyn Aloft
Cronheim Hotel Capital (CHC) has secured a $41-million permanent loan on behalf of The Lam Group to refinance the existing debt on the 175-room Aloft New York Brooklyn. “It’s remarkable to witness New York City’s resurgence post-COVID, especially considering the sluggish start in ’21 and ’22,” said Beau Williams, senior managing director, CHC. “Over the … [Read more...]
AHLA workforce report: Hotels add 1,200 jobs in April
U.S. hotels added 1,200 jobs to their payrolls in April, according to the latest government data that shows employment in the industry is still far from pre-pandemic levels. Total hotel employment stands at about 1.92 million, according to the Bureau of Labor Statistics. That’s 193,600 fewer workers in the industry than in February 2020, just before the pandemic hit. “Hotels are doing all they can … [Read more...]
HVMG names Linda Philp SVP/CFO
Hospitality Ventures Management Group (HVMG), an Atlanta-based third-party hotel operator and investor, has named Linda Philp SVP/CFO. In her role, she is responsible for the company’s accounting, financial reporting, tax, systems optimization/technology and risk management functions. “Linda brings with her a wealth of finance and accounting expertise that will not only provide support for our … [Read more...]
Lark Hotels opens Stilwell Hotel
Lark Hotels has opened the Stilwell Hotel in Carmel-by-the-Sea, CA. The property features 42 guestrooms, as well as several custom fountains, including a 20-by-18-ft. living water wall. “Carmel-by-the-Sea has an innate charm and a warmth that we have always been drawn to,” said Lark Hotels CEO Peter Twachtman. “We’re proud of Stilwell Hotel’s embodiment of that warmth and hope locals and visitors … [Read more...]
IHG reports Q1 global RevPAR up 2.6%
InterContinental Hotels Group PLC (IHG), for the first quarter ended March 31, reported global RevPAR increased 2.6% compared to the same period last year, with the Americas down 0.3%, Europe, Middle East, Africa and Asia (EMEAA) up 8.9% and Greater China up 2.5%. “Global RevPAR in the first quarter of 2024 continued to grow, up 2.6%, reflecting the strength of our globally diverse … [Read more...]
Walker & Dunlop closes $155M refi for NYC’s The Lexington Hotel
Walker & Dunlop Inc. (W&D) has arranged a $155-million refinancing deal for The Lexington Hotel, a historic landmark in Midtown Manhattan. Acting as the exclusive advisor to Lexington Hotel Owner LLC, a joint venture between MCR, Island Capital Group LLC and Three Wall Capital, Walker & Dunlop secured the financing through lender Hudson Bay Capital. Initially completed in 1929, The … [Read more...]
Gencom refinances Rosewood Bermuda with Blackstone, KSL
Affiliates of Gencom, an international owner, developer and manager of hospitality and residential properties, have refinanced the Rosewood Bermuda. The five-star resort is located in Tucker’s Point, spanning 240 waterfront acres and featuring more than 800 linear ft. of beachfront. The financing was originated by Blackstone Mortgage Trust Inc. and KSL Capital Partners LLC for an undisclosed … [Read more...]
Driftwood acquires Marriott Raleigh Durham Research Triangle Park
Driftwood Capital has acquired the Marriott Raleigh Durham Research Triangle Park, a 225-key, full-service, upper-upscale hotel located in North Carolina’s Research Triangle area. The company will carry out an extensive renovation project to enhance numerous features throughout the hotel. Franklin BSP Realty Trust originated a multimillion, two-year loan with three one-year extension options at a … [Read more...]