Davidson Kempner Buys 18 Hotels in Portugal

25.08.2023 - 14:23 / skift.com / Marriott Bonvoy / Sean Oneill / Marriott International

Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.

in San Diego, California, Developer Robert Green is planning a 12-story luxury hotel. The project in the Gaslight Quarter will cost more than $120 million and calls for 244 guest rooms, a rooftop pool deck, nearly 15,000 square feet of meeting space, and a jazz speakeasy below ground. Ground-breaking is planned for the first half of 2024.

In Hong Kong, New World Development has sold the Pentahotel for $257 million. Local developer Wang On Properties teamed up with NY-based Angelo, Gordon & Co to take over the 695-room hotel in east Kowloon. This is part of New World Development’s plan to sell $1.28 billion worth of non-core assets during the financial year ending September 2023.

In New York City, Extell is paying $94.4 million to buy the leasehold of the former Wellington Hotel from Richard Born’s BD Hotels. The 27-story historic property is located one block south of Carnegie Hall in New York City. The developer’s plans are unknown, but it was understood that a new hotel will likely be part of any new tower. 

Marriott International said its transformation of the Sheraton Hotels & Resorts brand continues to build momentum. Greater China now features eight properties including the soon-to-open Sheraton Xi’an Chanba. The hotel will offer 228 residential-style guest rooms and suites and a Sheraton Club, an exclusive space for Marriott Bonvoy Elite members and Club-level guests. Other planned openings include Sheraton Beihai Resort and Sheraton Lanzhou Anning.

TFE Hotels will launch into 2023, opening three new-build hotels in the first half. The Adina Apartment Hotel Pentridge Melbourne will open in Australia in February. The 110-apartment hotel was developed by the Shayher Group. The Vibe Hotel Adelaide will have their soft opening on February 14 as an 18-story upscale hotel, with 123 guest rooms. In March, TFE Hotels will debut in Switzerland with the opening of the Adina Apartment Hotel Geneva. The hotel will offer a choice of 140 one- and two-bedroom or studio apartment-style hotel rooms. The hotel is being developed by PG Promotors SA and owner Claude Berda.

Congdon Park’s historic Cotton Mansion in Duluth, Minnesota, recently underwent a complete renovation under new ownership, transforming the former bed and breakfast into a boutique hotel and venue. Heirloom Property Management purchased the three-story mansion and 1,700-square-foot carriage house for approximately $1,425,000. The entire mansion is available for rent with 11 rooms and two apartments, a total of 13 beds.

Skift Note: Duluth has some