Weekly US data from STR: STR‘s latest data through June 12 showed U.S. hotel occupancy reached its highest weekly level since early November 2019. June 6-12, 2021 (percentage change from comparable week in 2019*):
- Occupancy: 66.0% (-10.3%)
- Average daily rate (ADR): US$125.16 (-7.0%)
- Revenue per available room (RevPAR): US$82.65 (-16.6%)
While weekday occupancy was still down double digits from the corresponding days in 2019, weekend occupancy was 0.2% (Friday) and 3.2% (Saturday) higher than the 2019 comparables. On a total-room-inventory basis, which includes those hotels temporarily closed due to the pandemic, total week occupancy was higher than 60% for the first time since the beginning of the pandemic. ADR and RevPAR were also the highest of the pandemic era on an absolute basis.
Belmond looks to sell Charleston Place: Belmond, the corporate owners of the Charleston Place hotel, is looking into possibly selling the landmark 434-room complex in downtown Charleston, South Carolina. Belmond has appointed CBRE Hotels Institutional Group to explore market interest for the possible sale. Belmond and its parent company LVMH reportedly have multiple offers to buy the hotel, with sources saying that it is being marketed internationally. The figure floated amounts to US$500 million, with the sale “likely to bring a price tag in excess of US$1.2M per room.” It’s thought the ownership is attempting to create a bidding frenzy among qualified potential buyers, with sources saying 50 different investors were marketed to, with hopes of more than a dozen letters of intent.
Hilton signs fourth resort in Maldives: Hilton has signed a management agreement with Amingiri Holdings, a hospitality-focused subsidiary of Maldivian construction and real estate development company Amin Construction, to launch the 109-all-villa Hilton Maldives Amingiri. Scheduled to open at the end of this year, the resort will mark the entry of Hilton’s flagship Hilton Hotels & Resorts brand into the Maldives. It is located on Amingiri Island in the Male Atoll.
Rosewood in Chongqing: Rosewood Hotels & Resorts has been appointed by Chongqing Sunac Huacheng Real Estate Development Co. to manage the Rosewood Chongqing, a new luxury hotel set to open in 2030 in the Chinese city’s central business district. The hotel will be housed in the tallest building in the city – and 12th tallest in the world – as part of a newly built, mixed-use development. It will have 183 rooms, including 25 suites, and is scheduled to open as the brand’s 10th property in the Greater China area and the 18th property on the continent. The project follows the recent announcements of Rosewood Miyakojima and Rosewood Hangzhou, and adds to the additional pipeline properties in key areas including Shanghai, Hoi An and Shenzhen.
Boutique sells in Miami: A mid-Miami Beach boutique hotel, the 97-room Circa 39, has sold for US$25.5 million to AMS Hospitality, part of locally based developer The Allen Morris Co., and investment firm Black Salmon. The new owners are planning a renovation that includes a new pool deck and F&B. Last year, the duo acquired the The Pelham Hotel in New Orleans.