Group items tagged

HILTON IS ONE of the largest hotel companies in the world, known usually as parent company to higher end brands, such as Hilton Garden Inn and Canopy by Hilton. Now, the company is moving into the "premium economy" segment with its new brand, Spark. Spark will include several features meant to appeal to owners, according to Hilton, primarily by providing the company's reservation network, business model and commercial engines. It also includes supply chain management, a cost-effective pricing model and automated customer offerings such as digital check-in and Digital Key. "Spark by Hilton was developed in close collaboration with our developer community, and we are thrilled by the positive feedback and excitement we have received to date," said Alissa Klees, brand leader, Spark by Hilton. "In fact, we already have more than 100 deals in various stages of development across the U.S., with the first properties anticipated to open this year." Each hotel will feature colorful exterior walls and artwork. The public space will feature multi-functional seating, such as communal tables and rocking chairs, for guests to eat breakfast, socialize or work throughout the day. Guest rooms will have practical amenities, including an open closet, in-room refrigerator, multi-purpose work surface and bathroom. To ensure a consistent, quality guest experience, each hotel will be required to complete a full renovation, encompassing all guest-facing areas of the hotel, prior to joining Spark by Hilton. The new brand will fill a certain niche, said Matt Schuyler, Hilton's chief brand officer.

HILTON HOTELS & RESORTS retained its title as the world's most valuable hotel brand for the ninth consecutive year, while Hyatt Hotels Corp. secured the second spot again, according to the latest data from Brand Finance. Meanwhile, India's Taj Hotels is the world's second-fastest-growing brand, primarily due to revenue growth and improved brand strength. Hilton's brand value is estimated at $11.6 billion in the Brand Finance Global 500 2024 ranking. Hyatt holds a value of $6 billion, and Taj increased its brand value by 45 percent to $545 million, Brand Finance said in a statement. "Many top hotel brands have struggled to grow their brand value as robustly as in the years leading up to 2020, and the Brand Finance Hotels 2024 ranking shows that these challenges are ongoing as the industry recovers," said Henry Farr, Brand Finance's associate director. "Despite an uptick in travel and hotel demand, the actual growth hasn't matched expectations, resulting in slight declines or minimal brand value growth for the world's leading hotel brands."

CHARLOTTE-BASED MAYA HOTELS has acquired two Hampton Inn hotels in North Carolina and South Carolina. The two Hampton Inns boast a total of 210 guest rooms and are Maya Hotels' second and third acquisitions over the last six months, the company said in a statement. The hotels are the 100-room Hampton Inn & Suites Charlotte-Arrowood Road in Charlotte, North Carolina, and the 110-room Hampton Inn Columbia Northeast-Fort Jackson in Columbia, South Carolina. Maya Hotels, led by JD Deva as CEO, acquired the hotels on March 11. The Charlotte property is near Carowinds Amusement Park and Charlotte Douglas International Airport. The Columbia hotel is near U.S. Army Fort Jackson the University of South Carolina and downtown Columbia. Amenities at each hotel include outdoor pools, fitness centers, meeting spaces, and business centers. "We are excited to acquire these two top-branded assets at a discount to replacement cost," said Krishna Deva, vice president of Maya Hotels. "Charlotte and Columbia have historically been top markets for us, and we are thrilled to grow our presence in these two cities with such a strong brand affiliation." The acquired hotels complement Maya Hotels' existing footprint and will increase the current operating synergies the company has across North Carolina and South Carolina regions. The hotels will be renovated and managed by Maya Hotels. "We are so happy to continue growing our relationships with the Charlotte and Columbia communities, as well as with Hilton. We are also thankful to each of our investors and banking partners," said Deva. "The success of this transaction is a testament to our track record in the hospitality industry and our ability to adapt quickly in a rapidly changing lending environment. We look forward to bringing out the full potential of each of these properties with our hands-on management approach and the completion of major renovations at each property."

OFFICIALS OF THE "She Has a Deal" annual hotel investment pitch contest announced the five teams selected to advance to the final round of SHaDPitch 2023. The competition allows early career women to compete for the prize of $50,000 of equity in SHaD's Prosperity Fund I, following the conclusion of a virtual, preliminary round of pitching, SHaD said in a statement. SHaD 2023 will be held at the new Marriott Headquarters in Bethesda, Maryland, on April 27 to 28. According to the statement, the goal of SHaD is to increase the number of women owning and developing hotels. It provides participants with the ability to source, analyse, raise capital and close hotel real estate investment deals. During the preliminary judging round, eight teams comprising 15 participants pitched their hotel investment acquisition or development projects live on Zoom to a judging panel of hotel business executives, entrepreneurs, and investors. The judges evaluated and selected the following five teams: Sydney Young and Rachel Nicholson with SpartanStone, graduates of Michigan State University, pitching a La Quinta Inn & Suites in Lewisville, Texas. Chandler Williamson with Chanders Core Commitment, graduate of North Carolina Central University, pitching a Hilton Garden Inn in Raleigh/Durham, North Carolina. Isabella Suffredini, Veronica Lewis and Alexandra Neoman with CROWN, graduates of Cornell University, pitching a TownePlace Suites in Houston, Texas. Makenna Price with Hookipa Hospitality, graduate of Washington State University, pitching a Fairfield Inn & Suites in Ft. Lauderdale, Florida Allison Busch and Hannah Takekawa with AH Hospitality, graduates of San Diego State University, pitching a Staybridge Suites in Austin, Texas "Every year, I grow more encouraged that we are making an impact," said Tracy Prigmore, founder of SHaD. "These are brilliant women who benefit from the education and programming that SHaD provides, and their hotel investment acumen has grown by leap

STONEBRIDGE COS. HAS acquired the Le Méridien New Orleans hotel for $84 million from Park Hotels & Resorts Inc. It is the second acquisition in the city in 12 months for the Denver-based company, started by CEO Navin Dimond. The 410-room, full-service upscale hotel on Poydras Street is near the city's French Quarter, Bourbon Street and Warehouse Arts District. Also nearby are the New Orleans Ernest N. Morial Convention Center, Mercedes-Benz Superdome, Smoothie King Center and the Port of New Orleans Cruise Ship Terminal. Amenities include a rooftop pool, onsite restaurants and more than 13,000 square feet of event space. With the new purchase, Stonebridge's portfolio stands at 63 hotels and more than 10,000 guest rooms, including select-service, extended-stay, mid-scale and full-service hotels in several states. It is the first Le Méridien hotel for the company, Dimond said. "Last year we purchased the Embassy Suites by Hilton New Orleans," Dimond said. "New Orleans is truly a great American city, and the Le Méridien is ideally located for both leisure and business travelers alike visiting downtown New Orleans."

ATLANTA-BASED PEACHTREE Hotel Group recently acquired the Canopy by Hilton Atlanta Midtown hotel in Atlanta. The company's affiliate Peachtree Hospitality Management will operate the property. The 176-room, 15-story Canopy is a lifestyle hotel that opened in 2018 in Midtown Atlanta, according to Peachtree. The area has the largest concentration of arts and cultural attractions and businesses in the Southeast. "Midtown Atlanta is one of the hottest markets in the country right now, and we are excited to be able to make this investment in our backyard," said Brian Waldman, Peachtree's chief investment officer. "The Canopy Atlanta Midtown fits our investment criteria of investing in premium-branded hotels in growing submarkets with strong demand drivers." Nearby are the Atlanta Arts MARTA station, Museum of Design Atlanta, Savannah College of Art and Design and the Breman Jewish Heritage Museum. Other attractions include Pershing Point Park, Ansley Park and Piedmont Park, along with companies such as NCR, Norfolk Southern, Microsoft, Anthem and Google.

NOBLE INVESTMENT GROUP in Atlanta has acquired the Hilton Garden Inn Boise Downtown. The transaction caps more than $1 billion investment over the past year, according to a statement. The 132-room hotel is near the city's leisure and business centers, which includes the Idaho State Capitol, Boise State University, Jack's Urban Meeting Place, Idaho Central Arena, and the Boise Centre, according to Noble, which is led by Mit Shah as CEO. Hotel amenities include an indoor pool, 4,098 square feet of meeting space and it is pet friendly. "The Boise market demonstrates the key macro trends we are looking for in cities which we believe will outperform as we enter a new lodging cycle," said Dustin Fisher, Noble's senior vice president. "This acquisition aligns with our strategy to acquire high-quality, well-located assets in growth markets poised to benefit from the ongoing recovery in travel."