Mantra in Melbourne: Mantra Group will operate the hotel and letting apartment component of Saraceno Group’s US$1 billion mixed-use development in Melbourne: the largest ever undertaken in the city. The full-service 250-room hotel and apartments component of the development, Mantra M-City, will be completed in late-2020.
Need hotel? Launch Indiegogo: Boutique hotel brand Amberlair launched its first reward-based crowd-funding campaign on Indiegogo where it is seeking funds to acquire and develop a spectacular estate of farm houses and towers surrounding an historic villa built in 1902 in Puglia, Italy, which will be transformed into a 60-room boutique hotel resort opening in 2020.
Regent and Cottonwood: Regent Hotels Group has partnered with Cottonwood Management, launching their first collaborative project – 133 and 135 Seaport, a Regent Collection, as part of Echelon seaport in Boston.
Club Med Vietnam: Club Med will develop Club Med Ho Tram, its first resort in Vietnam. Located in Vung Tau Province in southern Vietnam, the resort is scheduled to open in 2021.
Chicago boutique hotel: A venture controlled by real estate investors Marc Realty Capital and Relu Stan is planning to turn a vacant four-story building in Chicago into a 28-room hotel. Under the plan, the developers would remodel the existing landmark building and add a fifth floor, with 3,000 square feet on the ground floor reserved for commercial use.
More from Crain’s Chicago Business
New IHG exec: IHG promoted Fergus Stewart as vice president, luxury operations, Europe region. Stewart has been with IHG since 2008 as general manager, ANA InterContinental Tokyo. He then became director of operations, Thailand and Indochina, before returning to Japan as CEO of the IHG/ANA joint venture and head of Japan. Most recently, he was based in Dubai as vice president of operations for the Middle East, where he was responsible for over 70 hotels across seven countries.
Hyatt Regency Monterey sells: The Hyatt Regency Monterey has been purchased by FWREF Monterey, LLC, a subsidiary of Fairwood Capital Real Estate Fund, LP. The 22-acre, 550-room property is the largest hotel on the Monterey Peninsula and includes 40,000 square feet of meeting and event space.