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NEXGEN HOTELS HAS acquired EVEN Hotel Miami - Airport in Miami, marking its first wellness-focused brand in the portfolio. Managed by Missouri-based Genuine Hospitality Group, this upscale hotel represents NexGen's third acquisition in a brief two-week span under the leadership of Chris Patel. Located one mile from Miami International Airport and minutes from the Port of Miami, the hotel offers guests access to Waterford Business District, Brickell City Centre, and Miracle Mile, according to NexGen. Nearby attractions include DRV PNK Stadium, LoanDepot Park, the University of Miami, Florida International University, South Beach, Miami Seaquarium, and the future Miami Freedom Park Stadium. "We see Florida as a growing market for us and this acquisition offers an assortment of value opportunities for our company," Patel said. "We are also excited to add the EVEN hotel brand to our portfolio as it is well received by health-conscious travelers."

THE KABANI HOTEL Group arranged the off-market sale of a 110-room independent hotel in Miami Springs, Florida, for $16.2 million, or $147,272 per room. The 110-room, six-story property, recently updated, is near Miami International Airport and nine miles from Brickell and Downtown Miami. Kabani, led by Ahmed Kabani as president and CEO, and Luis Garino as a partner, brokered the sale of the 1986-built property on behalf of the seller. Despite the current headwinds in the market, such as elevated interest rates and rising insurance costs, we were able to source an international institutional buyer with the capacity to close the deal on favorable terms and aggressive pricing, Kabani Hotel said in a statement.

THE RADISSON RED Miami Airport, a 157-room property located east of Miami International Airport, was sold for $22 million at a price per key of $140,127. Kabani Hotel Group, led by CEO and Founder Ahmed Kabani and partner Suraj Dalal, brokered the deal. Kabani Hotel Group used a traditional marketing approach for the transaction, recording a 3.22 percent cap rate. The company received nine offers from domestic and international investors and closing the deal within 30 days of being under contract, the company said in a statement. "We are confident the new ownership will excel at this location," Kabani said. "Our strategic marketing efforts garnered over 150 confidentiality agreements. Despite elevated interest rates and financing challenges, the right buyer was identified, assuming existing debt and closing efficiently."

PEACHTREE HOTEL GROUP recently acquired two upscale hotels in Florida. They are the 207-key AC Hotel Miami Aventura and the 233-key Aloft Miami Aventura, in Aventura, Florida, outside Miami. With these recent acquisitions, Atlanta-based Peachtree, led by partners Bimal Patel, Hiten Suraj and Rupesh Patel, has acquired approximately $2 billion in hotel assets this year. The company expects to continue making opportunistic hotel acquisitions amid the current hospitality recovery cycle. "Our growth strategy since Peachtree's inception is to capitalize on cycle-specific opportunities," said Greg Friedman, Peachtree's CEO. "Today, we are seeing opportunities to acquire hotels at compelling levels, which hasn't been available over the last 15 months. With strengthening economic tailwinds boosting hotel fundamentals and compelling cap rates compared to other asset classes, the lodging sector is among the best real estate classes for investing. Also, with the ongoing inflationary environment, hotels are an excellent hedge against inflation due to daily adjustments in average daily rates."

KABANI HOTEL GROUP, a Miami-based hotel brokerage firm, is set to host its 8th Annual Hotel Investment Forum at the JW Marriott Marquis Miami on Oct. 14. The forum, themed "The Time Is Now," will provide insights and opportunities for attendees to connect with industry peers through sessions, panel discussions and networking, Kabani Hotel said in a statement. Kabani Hotel Group is led by its Founder and CEO Ahmed Kabani, a South Asian and former leader of Marcus & Millichap's national hospitality group. He launched the group with partners Luis Garino, Suraj Dalal, Kian McLean and Lucas Mondino. "The Hotel Investment Forum serves as a pivotal platform for discussing the hospitality industry's future in South Florida," said Kabani. "This year, we look forward to sharing insights on how we can collectively navigate the evolving market landscape and capitalize on emerging opportunities." The forum will cover topics such as the national and Florida hospitality outlook, cost management strategies, capital market availability and the evolving travel landscape.

NETHERLANDS-BASED CITIZENM HAS inaugurated its first hotel at Meta's Menlo Park campus in California, marking its second U.S. opening this year after the launch of citizenM Miami Center. CitizenM currently operates 14 hotels in the U.S. and has plans for additional openings in 2024, including locations in Austin, Boston, and another in South Beach, Miami. The global hospitality company was founded by Rattan Chadha in 2015. The five-story hotel, spanning 79,400 square feet, features 240 modular rooms, citizenM said. The brand's modular design has not only reduced construction waste by up to 60 percent but has also shortened the development timeline by three to four months compared to traditional construction methods. The hotel at Meta's Frank Gehry-designed headquarters campus has been designed by citizenM's architectural partner, Baskervill. "We're excited to open in Menlo Park, a burgeoning tech hub," said Robin Chadha, chief brand officer at citizenM. " CitizenM, designed to seamlessly connect remote and in-person work with private nooks and versatile workspaces in our Living Rooms, along with societyM meeting rooms. This dynamic property will provide a unique experience for Meta employees and mobile citizens in the area."

U.S. HOTEL PERFORMANCE saw a significant increase in the first week of December compared to the previous week, with improvements in hotel occupancy, ADR and RevPAR, according to CoStar. Year-over-year results also reflected positive trends. Occupancy rose to 58.7 percent for the week ending Dec. 9, up from the previous week's 54.2 percent, reflecting a year-over-year decrease of 1.1 percent. ADR increased to $153.36, compared to the previous week's $144.88, showing a 4.5 percent uptick from the prior year. RevPAR also soared to $89.98, compared to the prior week's $78.54, indicating a 3.3 percent decrease from the corresponding period in 2022. Among the top 25 markets, Boston saw the largest year-over-year occupancy increase, surging by 4.1 percent to 72.7 percent. Helped by Miami Art Week and Art Basel, Miami reported significant increases in ADR, soaring 48.8 percent to $314.55, and RevPAR, jumping 67 percent to $262.16.

THE REVPAR OF hotels in Phoenix is forecasted to reach $419 for Super Bowl weekend of February 10-12, the second-highest level for the event, according to STR. As the city also hosts Phoenix Open this week, the Friday through Sunday night occupancy may touch 94 percent and ADR to hit $445. According to STR, a unique volume of demand would push occupancy slightly higher than Phoenix's last host year in 2015 (93.7 percent) even though supply increased by 11.7 percent this year. The ADR level would rank third among host markets behind Miami in 2020 and San Francisco in 2016. "Phoenix's jump in RevPAR during its last Super Bowl host year was staggering, and this time around will be no different with big-time growth contribution from both occupancy and ADR," said Isaac Collazo, STR's vice president of analytics. "Demand speaks for itself, especially with consumer behavior around the event free of pandemic concerns-unlike the last two Super Bowls. Phoenix's ADR situation has different influences than recent host markets given inflation and having less upper-tier supply than a Los Angeles or Miami." The overall Phoenix market comprises 544 hotels with 70,488 rooms.

HYATT HOTELS CORP. reported an almost 85 percent growth in its global pipeline since 2017, reaching a record of 129,000 rooms. During this period, the company doubled its luxury rooms, tripled its resort rooms, and quintupled its lifestyle rooms. Pictured is a rendering of the New Andaz Miami Beach in Miami Beach, Florida. The company is expanding its brand portfolio both nationally and globally, selecting new and existing markets to enhance its network effect for owners and guests, Hyatt said in a statement. "Hyatt leading the industry in net rooms growth for seven years is a result of our unique approach to development," said Mark Hoplamazian, Hyatt's president and chief executive officer. "We strategically expand our portfolio of brands, intentionally selecting new and existing markets to enhance our network effect for owners and guests. Our commitment to thoughtful organic growth and strategic acquisitions amplifies our asset-light business model. Our goal is not to be the largest hospitality company, but the company most valued by colleagues, guests, and owners."

Marco Selva is the new senior vice president of business development and operations at Stonebridge Cos., focusing on expanding its luxury, lifestyle and resort portfolio in the Southeast, Caribbean and Latin America. His appointment supports the company's efforts to strengthen its market presence, Stonebridge said in a statement. Stonebridge is led by Founder and Chairman Navin Dimond. Selva will open a Miami office and target high-end projects across the region, aligning with Stonebridge's growth strategy, the company said. Rob Smith, Stonebridge's president and CEO, said Selva's appointment is a step in expanding the company's luxury, lifestyle, and resort footprint in the region. "With my background in the Caribbean and Aruba, combined with Marco's extensive experience and focus on these key markets, we are well-positioned to drive growth in the Caribbean and Latin America," Smith said. "We look forward to building a strong team around Marco in the Miami office to support this exciting new phase of expansion."

U.S. HOSPITALITY BUSINESSES reported a 108.2 percent year-over-year health metric for the fourth quarter of 2024, the highest in four quarters, according to the Hospitality Group and Business Performance Index by Cendyn and Amadeus. Tampa, Houston, and Miami led the top 10 cities in rankings. The index combines event data from Cendyn's Sales Intelligence platform, formerly Knowland, with hotel booking data from Amadeus' Demand360, covering group, corporate negotiated, global distribution system, and events performance, the companies said in a joint statement. Top 10 cities by index: Tampa - 121.4 percent Houston - 120.6 percent Miami - 116.8 percent New York City - 112.0 percent Chicago - 111.6 percent Phoenix - 110.4 percent Detroit - 109.8 percent Louis - 109.6 percent San Diego - 109.6 percent New Orleans - 108.3 percent

U.S. HOTEL PERFORMANCE improved in the third week of October, with positive year-over-year comparisons, according to CoStar. Key metrics showed a slight decrease in occupancy, while RevPAR and ADR increased week-over-week. Occupancy declined slightly to 70.1 percent for the week ending Oct. 19, down from 70.3 percent the previous week, though it rose 1.6 percent year-over-year. ADR increased to $169.85 from $166.88, a 2.5 percent year-over-year gain. RevPAR rose to $119.01 from $117.28 the previous week, up 4.2 percent from the same period in 2023. Among the top 25 markets, Tampa saw the largest occupancy increase, up 23.6 percent to 83.7 percent, driven by continued displacement demand from Hurricane Milton. Miami recorded the highest increases in ADR, up 29.9 percent to $245.28, and in RevPAR, up 35.5 percent to $179.72. The market's performance was driven by Taylor Swift's Eras Tour and Adobe MAX 2024.

Crystal Symphony Seven (7) Day - Western Caribbean Cruise Join the Luxurious Crystal Symphony as she departs Miami FL on November 13, 2013 for a Seven (7) day Western Caribbean cruise experience visiting Key West Fl, Costa Maya, Belize and Cozumel Mexico. Prices as low as $316.43 per person per day.

REVPAR FOR U.S. hotels recovered to 83.2 percent of 2019 levels in 2021, according to STR. Also, in December 2021, ADR and RevPAR hit all-time highs. U.S. hotel occupancy in 2021 was 57.6 percent, down 12.6 percent when compared to 2019. ADR for the year was $124.67, down just 4.8 percent from 2019. RevPAR at $71.87, down 16.8 percent when compared to two years ago. "In addition to 2020, U.S. hotel occupancy failed to reach 60 percent for just the second time since 2011," STR said. "On a nominal basis, 2021 ADR was the fourth highest on record. The country's RevPAR level was its second lowest in eight years behind only 2020." According to the report, none of the top 25 markets experienced an occupancy increase last year over 2019. Tampa reported the highest occupancy at 68.4 percent, down 5.2 percent from 2019. The largest ADR increase in 2021 was in Miami, up 14.7 percent to $223.49, compared to 2019. Norfolk/Virginia Beach registered the highest growth in RevPAR, up 7.7 percent to $72.31.

U.S. HOTEL PERFORMANCE moved closer to pre-pandemic levels during the third week of November according to STR. It dipped, however, from the week before. Occupancy was 59.7 percent for the week ending Nov. 20, down from 61.6 percent for the week before and a slight decrease of 2.1 percent from the same period two years ago. ADR for the third week of the month was $126.66, down from $129.98 the week before and increased 1.7 percent when compared to two years ago. RevPAR decreased to $75.60 for the third week of the month from $80.02 the week before, and a slight drop of 0.4 percent for the same period in 2019. Among STR's top 25 markets, Phoenix saw the largest occupancy increase during the week under review, up 6.4 percent to 76.6 percent over 2019. Miami reported the largest ADR increase when compared to 2019, 25.5 percent to $207.72. Oahu Island, Hawaii, experienced the steepest occupancy decline from 2019, down 35.2 percent to 51.8 percent.

TRAVELERS ACROSS THE world are increasingly opting for short-haul destinations and making last-minute bookings over planned trips, according to a report from OYO Rooms. With a steady rise in vaccination coverage, combined with the easing of restrictions across regions, travelers have embraced the spirit of travel wholeheartedly, especially during holidays and festive long weekends. Oyo's Mid Season Global Holiday Trends 2021 report said that Labor Day in U.S., Gandhi Jayanthi in India, Ascension Day in Europe and Summer Holidays in UK were the most popular holidays among travelers this year. According to the report, Labor Day, New Year's, Martin Luther King Jr Day, Memorial Day and Thanksgiving are America's most travelled holidays. Coastal hotspots such as Seattle and Miami have been wildly popular during public holidays, followed by California's Nevada City, Houston and Dallas, the report added. AAA Travel forecast that 53.4 million Americans would travel for Thanksgiving this year, and a survey from Motel 6 found that 82 percent of holiday travelers believe it is important to spend that time with loved ones. However, another survey from the American Hotel & Lodging Association found only 29 percent of Americans are likely to travel for Thanksgiving and 33 percent are likely to travel for Christmas.

U.S. HOTEL OCCUPANCY increased in the first week of December, according to STR. But, all performance metrics were lower during the week when compared to same period in 2019. Occupancy was 54.8 percent for the week ending Dec. 4, up from 53 percent the week before and down from 8.8 percent for the same period in 2019. ADR for the week was $127.92, down from $128.41 the week before and decreased 0.5 percent when compared to two years ago. RevPAR increased to $70.08during the week from $68 for the week before but dropped 9.2 percent for the same period in 2019. According to the report, none of STR's top 25 markets recorded an occupancy increase over 2019, Only Los Angeles matched its 2019 comparable at 70 percent. Miami, lifted by Art Basel, reported the largest ADR increase when compared with 2019, up 32.9 percent to $373.71.

U.S. HOTEL PERFORMANCE dipped in the first week of September compared to the week before, according to STR. However, performance during the week improved when compared to 2019. Occupancy was 62.8 percent for the week ending Sept. 3, down from 65 percent the week before and up 3.1 percent from 2019. ADR was $147.14 for the week, almost similar to the week before at $147.16 and increased 20.9 percent from three years ago. RevPAR reached $92.45 during the week, down from $95.62 the week before and increased 24.6 percent from 2019. Among STR's top 25 markets, Miami reported the largest increase in occupancy to kick off September, up 30.1 percent to 62.2 percent and RevPAR, increased 86.5 percent to $112.37, over 2019.

PERFORMANCE OF U.S. hotels improved in the third week of September compared to the week before and also when compared to 2019, according to STR. Occupancy was 69.6 percent for the week ending Sept. 17, up from 61.7 percent the week before and decreased 2.4 percent from 2019. ADR was $155.58 for the week, increased from $146.80 the week before and increased 15.6 percent from three years ago. RevPAR reached $108.25 during the week, up from $90.50 the week before and improved 12.9 percent from 2019. Among STR's top 25 markets, Norfolk/Virginia Beach reported the highest occupancy increase during the week, up 6.6 percent to 70.9 percent, over 2019. Miami reported the largest ADR gain, increased 30.7 percent to $177.10, over 2019.

U.S. HOTEL PERFORMANCE bounced back in the third week of July after two consecutive weeks of lower demand due to the Independence Day holiday, according to STR. Occupancy was 72 percent for the week ending July 16, up from 63.3 percent the week before and dropped 7.4 percent from 2019. ADR was $157.23 for the week, up from $153.71 the week before and increased 14.9 percent from three years ago. RevPAR reached $113.28 during the week, up from $97.37 the week before and increased 6.4 percent from 2019. San Diego reported the only occupancy increase among STR's top 25 markets during the week, up 1 percent to 89.9 percent, over 2019. According to STR, San Diego (89.9 percent), Oahu Island (87.2 percent) and Seattle (85.8 percent) led the major markets in absolute occupancy. Miami posted the largest ADR gain, up 29.9 percent to $204.15, over three years ago. Only San Francisco reported an ADR decrease, down 4.1 percent to $229.24, compared to 2019.