Luxe Barrière planned for NYC: Tribeca will be the future home of the 5-star Hotel Barrière Le Fouquet’s New York, the first hotel in the U.S. under the Barrière brand. Caspi Development announced the topping out of the hotel, located in the Tribeca North Historic District. The eight-story, 96-room hotel, managed under the Groupe Barrière brand, is scheduled to open next year. The property will have amenities such as a private spa, swimming pool, an interior courtyard, state-of-the-art screening room and board rooms.
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Oetker, Reubens partner on Capri: Capri’s first hotel, built in 1822, is going to be transformed by Oetker Collection and owners, Reuben Brothers, into a 50-room-and-suite property. Set to open in April 2022, the hotel is located steps from the famous Piazzetta, it will comprise a rooftop restaurant and bar, its own beach club, a newly built pool deck, a spa and high-fashion boutiques. Hotel La Palma will be Oetker Collection’s reimagined incarnation of Capri’s original hotel that has long hosted a collective of notable artists, poets, writers and musicians from all over the world. The Reubens Brothers’ acquisition also includes the legendary La Taverna Anema e Core nightclub, a famous nightspot frequented by celebrities, located in the same premises.
IHG’s Q4 results: In its Q4 results, Intercontinental Hotels Group (IHG) reported a loss before tax of US$280 million for the year ended December 31, compared to profit of US$542 million, prior year. Operating profit before exceptional items declined to US$117 million from US$816 million. Fiscal 2020 total revenue was US$2.39 billion, down US48.3% from the previous year. Underlying revenue decreased by 52%. Group comparable RevPAR was down 53% in the full year.
Mandarin to Vietnam: Mandarin Oriental Hotel Group will manage a new luxury resort with branded residences in Da Nang, Vietnam. The project is owned by Dinh Ba Thanh, a Vietnamese businessman, entrepreneur, and the founding chairman of DatVietVAC and The Nam Khang Corp. The project is scheduled to open in 2024. Design for Mandarin Oriental, Da Nang will incorporate natural Vietnamese elements and local cultural references. Accommodation will comprise 69 villas and 18 residences, each set in their own landscaped gardens with private pools.
CBRE acquires 35% of Industrious: CBRE Group has acquired a 35% interest in Industrious, a provider of flexible workplace solutions in the U.S. CBRE is now Industrious’ largest shareholder. In addition, CBRE is expected to acquire an additional 5% of Industrious in the coming weeks, which would result in a 40% total stake. The investment significantly increases CBRE’s participation in the flexible workplace sector and positions the company to meet rising demand from occupiers for agile space solutions — a trend that is being accelerated by the COVID-19 pandemic. Recent CBRE surveys show that 86% of its occupier clients, which include many of the world’s largest global corporations, plan to incorporate flex office space in their real estate strategies, and 82% will favor buildings that offer a flex-office component.
New e-sports and entertainment hub for Toronto: Multinational stadium designer Populous has revealed designs for a US$500 million convention, entertainment, esports center and hotel project in downtown Toronto. The venue is still unnamed but will sit on 4.5 acres of the Canadian National Exhibition grounds, as well as a waterfront site on the northern edge of Lakeshore Boulevard that would also see a hotel tower rise at the project’s rear. OverActive Media, an international media and entertainment company that owns both of Toronto’s pro esports teams is serving as the project’s developer. The project, the first new entertainment venue to be built in Toronto since 2007, will be entirely privately funded. OverActive says it’s hopeful that the venue will open sometime in 2025.
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Dusit in new China JV: Bangkok-based Dusit International, represented in China by Dusit Fudu Hotels and Resorts, has signed a strategic partnership with Paxton Vacances Hotel Management Group to operate and develop Dusit Princess Hotels and Resorts in China. In line with Dusit’s strategy for sustainable and profitable growth, which includes expanding its presence in key locations throughout China, the partnership will see Paxton seek to sign Dusit-branded properties in major domestic destinations where Dusit has yet to have a presence. Active in China since 2010, Paxton currently operates more than 30 hotels under five brands in the country.
Airelles adds two hotels in Saint-Tropez: French luxury brand Airelles has added both the Château de la Messardière and Pan Deï Palais in St. Tropez to its portfolio. The 103-room, 5-star Château de la Messardière has undergone extensive renovation over the last two years and is due to open for the summer season on July 1. The boutique Pan Deï Palais has 10 guest rooms and two suites, and the hotel has undergone a complete redesign of its gardens and pool area as well as a refurbishment of the interiors and a new-look Dolceva restaurant helmed by Marco Garfagnini.
HVMG gets new Florida hotel: Hospitality Ventures Management Group, an Atlanta, Georgia-based, private hotel investment, ownership and management company, has taken over operations of the 99-room Nautilus Inn in Daytona Beach, Florida. Owned by Asante Asset Management, the hotel will undergo a multi-million renovation scheduled to begin August 2021.
Workers prioritized in CDC’s guidance: Hotel workers across the U.S. should get an early shot at COVID-19 inoculation, according to the latest guidance from the Centers for Disease Control and Prevention. The federal agency recently updated its vaccine distribution guidance to prioritize “Traveler Accommodation” under its essential workers category, which elevated hotel workers to Phase 1c. While Nevada’s vaccine rollout plan already prioritizes hotel and casino workers, the new federal guidelines could prompt changes in other states.
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Manhattan lodging overview: Declines in occupancy and RevPAR continued to accelerate across Manhattan during the fourth quarter, as the COVID-19 pandemic curbed both holiday tourism and commercial traveler demand to the city, according to data from PwC. With tens of thousands of rooms temporarily closed, business and international travel all but suspended, and leisure demand drivers severely restricted, fourth quarter RevPAR experienced a year-over-year decline of 85.2%. Manhattan’s lodging sector additionally continues to experience record permanent closures. As of December 2020, 18 hotel properties consisting of 5,976 rooms in Manhattan were reported to stay closed permanently. This represents a 121% increase in the number of permanently closed rooms compared to the second quarter of 2020.
Irish hotel summer bookings at just 20%: Hotels and guesthouses around Ireland are reporting average booking levels for July and August of just 20%, according to the Irish Hotels Federation. Reservations are particularly low in Dublin, with booking levels of just 12% and 14% respectively across the two months. The record low levels of pre-booking for the summer season come amid increased uncertainty about when COVID-19 restrictions will be eased enough to allow most hotels and other hospitality to reopen.