This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
million in construction financing for the development of a new Residence Inn by Marriott hotel in Wilmington, DEs Chestnut Run Innovation & Science Park (CRISP). The construction financing was arranged by Philadelphia-based D2 Capital Advisors’ Jack Cortese, David Frankel and John Lightcap. D2 Capital Advisors arranged $23.5
Established in 2013, the Ruby brand 20 th brand in the IHG portfolio currently operates 20 hotels (3,483 rooms) in major cities across Europe and has another 10 pipeline hotels (2,235 rooms). InterContinental Hotels Group (IHG) has acquired premium urban lifestyle brand, Ruby, for 110.5 Also, the timing could not be better.
2023 was a pivotal year for RHG where we expanded our relationship with key partners and operators. In the Philippines, we expanded our decade-long partnership with SM Hotels and Conventions Corp through a Master Development Agreement to reach 20 hotels by 2028 from six hotels in operation today.
There are still some signature hotels in the pipeline, with the Marriott Adelaide, Shangri-La Melbourne, Star Grand Brisbane, and 25hours Sydney scheduled to open over the next year. Owners and operators will need to adopt a defensive approach to asset management, maintaining a laser focus on their operating structures.
The company’s development pipeline consists of nearly 2,000 hotels and approximately 243,000 rooms, an all-time record for the latter. Increased interest from hotel owners in our brands has propelled our development pipeline to a record 243,000 rooms, marking an impressive 8% increase. and growth of 14% internationally.
Following this wave of additions, higher debt cost and construction costs are anticipated to suppress the development pipeline, with activity being largely limited to key strategic sites usually having mixed use appeal. Melbourne is the primary recipient of new room supply (35% of total).
Located in Queensland’s north coast city of Townsville, the 190-room Hilton Garden Inn Townsville, which is slated for completion by early 2026, will operate under a management agreement with HHNQ Pty Ltd. The hotel will be modular constructed, which is a great way to reduce construction time and lower building costs.
Kypriotis brings over 20 years of hotel industry experience, having started her career with Stamford Hotels and Resorts and worked across various managerial positions within hotel operations at Accor. In 2007, he joined Toga Group as Chief Financial Officer of diversified property, development, construction and investment.
Over the last 12 months, new hotel construction projects, announced renovations and brand conversions continued to grow, with renovation and conversion activity hitting record highs quarter-over-quarter (QOQ). Over the last year, new hotel construction projects, renovations and brand conversion announcements have increased significantly.
Hilton also strengthened its development pipeline, signing more than 1,430 hotels representing 154,000 rooms in 2024. The companys pipeline now stands at roughly 3,600 hotels totalling more than 498,500 rooms, a year-over-year increase of 8% in pipeline rooms. Hilton has more than 8,400 properties trading worldwide.
The hotel will form part of the Geelong Convention and Exhibition Centre precinct development project, which will see the construction of a 1,000-seat convention centre and exhibition spaces, retail and hospitality offerings, as well as a large public plaza.
Today Swiss-Belhotel International has close to 135 hotels and operations across 20 countries and over 12,000 staff. Edward’s background is in construction, having worked as a civil engineer for about 10 years, first in New Zealand and later in Papua New Guinea and Hong Kong.
To accommodate demand, cities like Atlanta, Chicago, Dallas, Las Vegas, Los Angeles, Miami, New Orleans, New York City, Orlando and San Diego have an abundance of new hotel construction, renovation and brand conversion activity underway. Through Q3 2023, New York also has the most new construction starts of any market in the U.S.
In the year-end 2022 Europe Hotel ConstructionPipeline Trend Report from Lodging Econometrics (LE) , analysts report that at the close of the fourth quarter, Europe’s total constructionpipeline stood at 1,711 projects/260,911 rooms.
InterContinental Hotels Group PLC (IHG) has announced the acquisition of premium urban lifestyle brand Ruby, its 20th brand, as it targets global expansion… Established in 2013, the Ruby brand currently operates 20 hotels (3,483 rooms) in major cities across Europe and has another 10 pipeline hotels (2,235 rooms).
The firm has been one of the more active hotel developers in QOZs, having already opened nine hotels, with another five under construction, including the new Residence Inn, in these designated areas. “By
Veriu Collingwood is part of a mixed-use development with 95 studio apartments operating under the Veriu brand and 45 Built to Sell luxury residential apartments above us, which Tim Gurner has developed under the Atelier brand. Then there’s a couple of shops on either side of our lobby which are intended for hospitality operators.
IHG Hotels and Resorts is investing in its midscale and luxury and lifestyle segments in the APAC region to drive future growth as the operator hits a major milestone, surpassing one thousand open hotels in Asia Pacific. Asia Pacific is home to about 60% of the InterContinental brand’s global pipeline, according to Sukumaran.
Speaking at the Africa Hotel Investment Forum in Nairobi, Radisson Hotel Group Vice President, Development, Africa and Turkey, Ramsay Rankoussi, said the materialisation of pipeline into openings is a strong indication of the company’s growth. “We Radisson Blu Hotel Abuja CBD will be the first Radisson Blu hotel in Nigeria’s capital city.
Developed and owned by HRI Hospitality and operated by HRI’s operating company, HRI Lodging, the property is half a block from Broadway. We’re thrilled to watch this wellness-focused brand grow with the success of Tempo by Hilton Nashville, Times Square and the over 30 others in the pipeline including Raleigh and Louisville.”
Wyndham Hotels & Resorts has revealed the continued expansion of its ECHO Suites Extended Stay by Wyndham brand, which in just one year, now has more than 200 hotels in its development pipeline. The purpose-built, all-new-construction, 124-room ECHO Suites prototype requires under two acres of land.
30, reported a record-high development pipeline of 1,930 hotels. 30, the global development pipeline consisted of 1,930 hotels and approximately 237,000 rooms, representing a 12% YOY increase, including 16% growth in the U.S. Approximately 69% of the pipeline is in the midscale and above segments. Development On Sept.
Olson Construction, a general contracting firm in California, have begun construction on the Element Hotel by Marriott in San Diego County. Olson Construction have experience in hospitality projects, and specifically have worked on Marriott hotels in the past. Olson Construction. Completion is expected in winter of 2026.
billion in 2023, with the first quarter of 2024 seeing hotel constructionpipeline at an all-time high and record-high levels seen in the luxury, upper upscale, and upscale segments. Currently, we have 58 hotels trading and 47 in the pipeline. Hotel investment volumes in the region this year are projected to reach US$10.4
This has created significant pressure on owners of B and C grade office buildings in most states and territories, who are struggling to compete against newly constructed A-grade office buildings with modern facilities and tenant amenities. “As
Having built a property portfolio of over AU$9 billion of prime assets in Sydney, Melbourne and Adelaide through Walker Group, he has developed a AU$36 billion project pipeline and, over the past decade, has implemented a smooth transition to his executive team to steer the company into the future.
Weve been expanding our portfolio in Nashville due to the increased demand and growth of the city, so bringing our world-class operational expertise in hospitality to managing a hotel there is a natural progression for us.
Structural and exterior walls, some with historical mud-brick construction, are being preserved and integrated with modern architecture. The vast majority of the UNESCO World Heritage Site will remain untouched by construction and will be carefully preserved to maintain the integrity of Hegra’s incredible human and natural heritage.
Chartwell is the hotel operator and FirstBank provided construction financing. Crain Construction Inc. served as the project’s construction manager. They are a leading developer and operator that gets it done right at every level—not to mention high-quality and high-integrity people.
JLL’s Capital Markets group has arranged a $750 million construction loan for the first phase of the Enterprise Research Campus, a 900,000-sq.-ft., The loan represents one of the country’s largest construction loans closed this year. mixed-use development minutes from Harvard University in Allston, MA.
Canada’s hotel development pipeline is experiencing unprecedented growth, according to the latest data from Lodging Econometrics (LE) from Q3 2024. The total pipeline has reached an all-time high of 327 projects, equating to 40,799 rooms. PORTSMOUTH, N.H. This represents a 29-per-cent increase in rooms year-over-year.
In recent times there’s been a real shift in both the economics behind hotel operations as well as customer expectations and we’re excited to see how the industry responds. Of course, we have a few more surprises up our sleeve and a strong pipeline of hotels including The Hannah St.
We are thankful for the Marriott Foundations generous donation to help reduce barriers to entry and build a robust pipeline of skilled hospitality professionals through engaging applied learning opportunities, professional mentoring, lower tuition costs and seamless links to earn degrees.
The company also opened five hotels that were under construction as of September 2023. million first mortgage loan for the construction of a 215-room Autograph Collection hotel in Huntsville, AL, which is expected to open in 2024. billion the company deployed year-to-date. The overall U.S. The post Peachtree deploys $1.1B
Across the hospitality industry, the company has the fastest-growing economy extended-stay portfolio and leads in the economy new-construction category, according to STR pipeline data through August. The property will serve the area’s infrastructure projects and industries, providing longer-term lodging options.
In total, Choice has four Everhome Suites open, 65 in the pipeline, more than 20 under construction and more than 15 expected to open within the next 12 months. As of the end of Q2 2024, Choice has nearly 400 hotels in the pipeline across four extended-stay brands. Air Force enlisted basic military training.
Archetype Architects designed the project and Wright-Ryan Construction was the general contractor. Olympia Hospitality operates the hotel. The post Olympia Hospitality opens Hotel Ursa appeared first on hotelbusiness.com.
“We’ve also expanded into over 55 new countries while debuting our brands more than 100 times in countries where they’ve never been before, all while nurturing a record development pipeline of over 1,800 hotels, which continues to see positive growth. pipeline nearly 60% and its direct franchising pipeline in China by nearly 70%.
This milestone year brings global growth, driven by forward-thinking initiatives, industry-leading sustainability, and a robust development pipeline. Additional hotels in the pipeline include Adelaide (Australia), Riyadh (Saudi Arabia), and Brickell (Miami). This commitment is evident through measurable accomplishments.
With the launch of Perth-Paris in July and Jetstar’s new services into Asia starting later this year, we have a pipeline of growth underway that will mean Perth is on track to become our second biggest international gateway behind Sydney,” she said.
In the newly created dual role, Svensson will take charge of operations at W Melbourne whilst also having oversight of all of Marriott’s luxury properties in Australia, including under the The Ritz-Carlton and W Hotel brands. Neerav Gorasia has been promoted to Director Hotel Performance for Pro-invest Hotels.
The signing is a momentous addition to our robust pipeline in the broader Caribbean, where we have nearly 30 Hilton properties operating across the region and approximately 30 hotels in development,” said Pablo Maturana, vice president, development, Caribbean and Latin America, Hilton.
We are proud to achieve this construction milestone in bringing the Hyatt Studios brand to life,” said Dan Hansen, global head, Hyatt Studios. The construction of Hyatt Studios Mobile/Tillman’s Corner is expected to create dozens of local jobs and enrich Mobile’s hospitality industry. for Hyatt Studios Mobile/Tillman’s Corner. “We
Structure is how the organization is set up, it’s services, inside sales, outside sales, sales engineers, sales operations, sales enablement, etc. Process: To keep everything running smoothly, to maintain velocity and efficiency and to ensure the team is operating effectively, processes have to be nailed. Is it working?
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content