Here are the top stories from the Daily Lodging Report newsletter in the past week. Get news on hotel deals, development, stocks, and career moves. Sign up here now.
25.08.2023 - 13:50 / skift.com / Sean Oneill
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.
The first beachfront resort with a private airport in the U.S., and the largest beach bar in the Texas Gulf Coast, are both coming soon from Bolivar Investment Group, the Houston Chronicle reported. Dubbed “The Peninsula Beach Resort”, the 110-acre, multi-phase development will be located in Crystal Beach, Texas. The first and second phase of the ambitious projected by Bolivar will include the construction of the 41,000 square foot The Zoo Beach Bar & Grill. The Zoo will be anchored into a 110-acre integrated beachside resort development featuring a private guest clubhouse with two Olympic-size pools, cabanas, and a giant spa. Phase one and two of the project will also see the construction of 222 luxury cottages.
Domenic Gatto Jr., the embattled developer of the Banyan Cay Resort in West Palm Beach, Florida, is waving the white flag. Banyan Cay Resort & Golf LLC filed for Chapter 11 reorganization, with a plan to sell the 200-acre property to pay off debtors, the South Florida Business Journal reported. The proposed plan is to hire Keen-Summit Capital Partners to market the property. The Hyatt-affiliated Banyan Cay Resort & Golf consists of a 150-room Hyatt-branded hotel under construction, and a 130-acre golf course. The development entity also owns adjacent development sites that are approved for 179 condo units, 28 single-family homes and 22 villas. An affiliate of Calmwater Capital won a $95.1 million judgment against Banyan Cay Resort & Golf and Gatto for defaulting on a $61 million construction loan, The Real Deal reported.
Oyo disclosed they are reducing the size of their long-awaited initial public offering to between $400 million and $600 million, Skift reported. The original offering plans, many moons ago, was for the Indian hotel company to raise $1.1 billion. Oyo pre-filed its draft red herring prospectus last Friday, filing under the confidential pre-filing route.
Skift Note: The southeastern U.S. arc from Texas through Georgia and down into Florida are probably the hottest markets for hotel deals and development right now.
Kimpton’s first-ever resort in the Western Caribbean is officially opening this summer, with the debut of the new Kimpton Grand Roatan in the Bay Islands of Honduras. The hotel, owned and developed by Vista Capital, is a complete re-imagining of the former Grand Roatan Caribbean Resort, Caribbean Journal reported. The property will have 119 guest rooms and suites, four dining and beverage outlets, a destination spa, and around 6,000 square feet of flexible meeting and event
Here are the top stories from the Daily Lodging Report newsletter in the past week. Get news on hotel deals, development, stocks, and career moves. Sign up here now.
From today’s Daily Lodging Report newsletter: Nikkei Asia published an article on Hilton planning to expand its luxury offerings in Asia. Hilton will be bringing its Waldorf Astoria brand to Malaysia, Vietnam, India, and other countries for the first time as part of its plans to open 25 new luxury hotels in the Asia Pacific region over the next few years. That’s up from the 33 luxury hotels it currently runs in the Asia Pacific.
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.
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.
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.
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.
A pent-up surge in consumer demand for travel gave many hotel companies pricing power in 2022. But hoteliers charged the highest rates the market could support for more than just one-off circumstantial reasons. A critical ingredient in the formula was that hoteliers developed a newfound pricing discipline during the pandemic recovery — even when business travel was historically weak and international tourism was slow to recover in many markets.
Indian Hotels Company (IHCL) plans to reach a portfolio of 300 hotels by 2025, it said on Tuesday when reporting its earnings.
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.
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.
I wanted an update on BWH Hotel Group, the parent company of Best Western Hotels & Resorts. So I spoke with Larry Cuculic, president and CEO since late 2021.
Accor plans to broaden its subscription cards to be more global, granting members discounts and perks worldwide instead of regionally, the Paris-based hotel giant said Tuesday.