Breaking news about deals, development, data and more.
Holiday comps hurt US performance. As expected, due to the
Easter and Passover holidays, the U.S. hotel industry from April 13-19 reported
negative year-over-year comparisons, according to CoStar data. Occupancy was
61.4% (-8.1% YOY); ADR $158 (-1.3% YOY) and RevPAR was $97.06 (-9.3% YOY).
Among the top 25 markets, Orlando saw the largest occupancy increase (+6.2% to
76.6%). Miami reported the highest gains in ADR (+17.3% to $274.54) and RevPAR
(+19.5% to $221.24). The largest RevPAR drops were seen in Washington, D.C.
(-36.8% to $116.74) and Nashville (-30.1% to $105.16).
Inbound investment data. EMEA emerged as the dominant source
of cross-border capital in the Americas in 2024, accounting for 74% of inbound
investment volumes, according to new CBRE data. However, this was partly due to
Asia Pacific investors, particularly those from Greater China, reducing their
activity. Full-service hotels remained popular, comprising 87% of all
cross-border investment last year. Upper upscale properties accounted for 49%
of investment volumes in 2024, an increase of 13 percentage points since the
onset of the pandemic. CBRE said hotel investment in the Americas is expected
to strengthen this year on the back of narrowing bid-ask spread and lower
interest rates.
Canopy to Tokyo. Hilton, Mitsubishi Estate Co. and TBS
Holdings announced the signing of the 174-room Canopy by Hilton Tokyo Akasaka
as part of a mixed-use development project that will include offices,
commercial facilities, theaters and halls, and hotels, directly connected to
Tokyo Metro’s Akasaka Station. Scheduled to open in 2028, Canopy by Hilton
Tokyo Akasaka marks the debut of the brand into Tokyo and the Kanto region of
Japan and will be the third Canopy by Hilton hotel in Japan. The Canopy by Hilton
portfolio includes more than 40 open properties around the globe across 13
countries and territories.
Extended-stay results. Supply, demand, room revenue, ADR and
RevPAR performance metrics for extended-stay hotels compared to March 2024 were
better than the overall hotel industry, according to the Highland Group.
Extended-stay hotel occupancy reported a larger contraction but the premium the
segment achieves compared to the total hotel industry stayed within its
long-term average range. Although metrics in March were relatively good, like
the overall hotel industry, a decelerating trend in extended-stay hotel
performance metrics appears to be emerging.
Gruppo Villa d’Este buys 2 in Italy. Cernobbio,
Italy-based owner-operator Gruppo Villa d’Este has acquired the 18-key Vista
Palazzo Lago di Como and the 50-key Albergo Terminus in Como, Italy, from Como,
Italy-based owner-operator Lario Hotels, according to HVS. The properties are
next to each other on the lakefront in Como. Lario will continue to operate the
hotels through the 2025 season, with the new owners set to take over management
in December. Vista Palazzo will then be rebranded, while Albergo Terminus will
retain its current name.
Stay Pineapple hotel trades. OneRE Apartment Fund LLC, a company affiliated with Onelin
Capital Corp., a U.S.-based multi-asset investment, real estate development and
management firm, has acquired the 102-room University Inn near the University
of Washington in Bellvue. Staypineapple Hotels will manage the property under a
licensing and management agreement.
Studio Vacanze acquires 2 in Italy. Sardinia, Italy Studio
Vacanze has acquired two hotels in on the island of Sardinia, the 273-key
Sporting Hotel and the 77-key Hotel I Corbezzoli, according to HVS. Studio
Vacanze has a portfolio of 19 properties across Sardinia.
Ascott debuts Crest Collection in UAE. Singapore-based The
Ascott Ltd. is partnering with Ajman, UAE-based FAM Holdings on the 539-key Al
Mahra Resort by The Crest Collection, on Marjan Island, Ras Al Khaimah in the
United Arab Emirates. The hotel, which is scheduled to open in the first
quarter of 2027, marks The Crest Collection’s debut in the UAE. The Ascott Ltd.
is owned by Singapore-based CapitaLand Investment Ltd.
Dusit grows in China. Dusit International, Bangkok, has signed a management deal
with Dongfang Nongbo (Chengdu) Commercial Operation Management Co. to operate
the Dusit Hotel AG Park, Chengdu in China. The 250-key property, which is
scheduled to open on 1 June 2025, is located within the Tianfu Agricultural
Expo Park. Dusit operates seven hotels in China and has over 20 properties in
development.
AloJapan.com