CitizenM raises $1 billion: Led by Singapore sovereign wealth fund GIC, Dutch pension fund manager APG Asset Management and citizenM founder Rattan Chadha’s KRC Capital. CitizenM hotels, Amsterdam, has reportedly raised US$1 billion in new capital for further growth. Bloomberg reported on Tuesday that citizenM will have 24 hotels open by the end of this year, and is aiming for 40 or more by the end of 2024. More than half of the money is being set aside for hotel development and the balance will be used to complete existing development projects and make up for revenue lost during the pandemic, according to Chief Executive Officer Klaas van Lookeren Campagne.
Governor Hochul announces US$450 million package: New York Governor Kathy Hochul announced a US$450 million recovery package to revitalize New York’s tourism sector. The package will provide one-time payments worth US$100 million to support the hardest-hit tourism workers, US$100 million in grants to encourage tourism employers to re-employ staff, US$25 million to attract convention center and hotel events, and an additional US$25 million for global and domestic marketing efforts. “Our nation-leading $450 million recovery package not only helps tourism industry workers get back on their feet, but will also help small businesses and venues reopen their doors,” said Governor Hochul. She added that the package will help the tourism and hospitality sector, which was the state’s third biggest industry before the pandemic.
IHG signs new Kimpton in Budapest: IHG Hotels & Resorts announced the signing of a management agreement of the 127-room Kimpton Budapest in Hungary with property owner MAM BUDA PROJECT Kft., a subsidiary of Market Asset Management Zrt. The hotel is slated to open in early 2025. This will be the first Kimpton Hotels & Restaurants property in Hungary. This signing comes after the recent opening of the Crowne Plaza Budapest. IHG currently has three hotels in Hungary and two more properties in the pipeline. Since opening the Kimpton De Witt in Amsterdam in 2017, Kimpton has increased its presence across Europe and currently has seven hotels in Europe and four more in the pipeline. Globally, there are 75 open Kimpton hotels and 32 in the pipeline.
Latin America’s construction pipeline declines: The total Q3 2021 construction pipeline in Latin America is 577 projects/103,648 rooms, according to the latest report by Lodging Econometrics. The region’s pipeline project counts dipped 14% and room counts went down 11% YOY. Projects under construction at the end of the quarter stood at 304 projects/60,048 rooms, a decline of 12% by projects and 2% by rooms YOY. Projects expected to start construction within the next 12 months was 155 projects/24,459 rooms, falling by 17% and 28% respectively, and those in the initial planning stages were down 16% by projects and 11% by rooms YOY, settling in at 118 projects/18,641 rooms. Around 33% of the pipeline in the region is earmarked for resort locations. Countries leading the construction pipeline are Mexico (204 projects/36,873 rooms, accounting for 35% of projects and 36% of room counts), Brazil (112 projects/19,075 rooms), Peru (33 projects/4,140 rooms), the Dominican Republic (22 projects/5,132 rooms) and Colombia (19 projects/2,997 rooms).
Dream Hotel grows in Oklahoma: Dream Hotel Group, New York, will open two new Dream Hotel and Unscripted Hotel locations in Oklahoma City, Oklahoma, in 2024. Designed by CUBE3 Architects, Miami, Florida, and built by general contractor Hensel Phelps, the 220-key Dream Hotel and the 174-key Unscripted Hotel will come up at the mixed-use development project with Matteson Capital LLC, California. Once it is complete, the US$275 million development will also feature seven restaurants and bars and 150 private residences.
Wyndham announces five new properties in Oregon: Wyndham Hotels & Resorts has signed an agreement with developer Matt Braun of Braun Hospitality, LLC for five new Microtel Inn & Suites by Wyndham hotels in Oregon. Under the agreement, Microtel Inn & Suites by Wyndham will come up in Florence, Ashland, Salem, Bend and Hood River in Oregon. These hotels will be a part of the roughly 300 Microtel properties in the U.S. and over 80 Microtel hotels in the company’s pipeline in the U.S. Braun Hospitality will be in charge of development oversight and expertise for the planning, entitlement, design and managing construction of all the new hotels. All five properties will be designed using Microtel’s Moda prototype.
Anantara’s debut in Italy: Anantara Hotels, Resorts & Spas announced the addition of the 238-room Anantara Palazzo Naiadi Rome Hotel to its portfolio, marking the brand’s first property in Italy. The hotel is currently a member of The Leading Hotels of the World. The historic luxury, five-star hotel is suspended over the ancient Diocletian Thermal Baths. The hotel is currently transitioning to the Anantara brand. The refurbishment, which will start in January 2022 and will continue through the year, will include a refreshed lobby, a new bar and renewed rooftop space. In 2022, a new Anantara Spa will open on the hotel’s top floor.
Six Senses grows in Portugal: Six Senses, which is a part of IHG Hotels & Resort, announced the launch of the 114-key Six Senses Lisbon, its second prime destination in Portugal after the Six Senses Douro Valley. The hotel will open in 2025. Located within the 17th century Palacio Lavra and the Palacio de Pedrosas, the hotel’s suites feature separate fitted kitchens and outdoor terraces with a dining area. The hotel is being developed by Key International and ARD Investment and Development. Six Senses manages 19 hotels and resorts and 27 spas across 19 countries and has signed 34 more properties in their development pipeline.
Madison, Newbond launch JV: Madison Realty Capital, New York, and Newbond Holdings, have launched a hospitality fund with US$500 million as the initial lending capacity for mezzanine loans, mortgages and preferred equity. The amount will be increased in line with the opportunity. The partnership will offer funding programs to existing and new borrowers ranging from limited-service hotels to ultra-luxury properties and aims at opportunities, including transitional lending and ground up developments in major metropolitan markets. Madison recently provided a US$105 million loan to Fort Partners to fund the acquisition and modernization of the Four Seasons Hotel Miami and a US$210 million loan to Fort Partners to construct a Four Seasons Hotel and Private Residences Fort Lauderdale.
Ritz-Carlton Yacht Collection joins Marriott Bonvoy: The Ritz-Carlton Yacht Collection will join Marriott Bonvoy from November 9, Marriott International’s travel program. Marriott Bonvoy members can earn and redeem points for voyages which will begin from May 6, 2022. Elite members of the travel program will enjoy an upgraded luxury experience, like a private reception after boarding and other bespoke recognition during their voyage. The Ritz-Carlton Yacht Collection is the latest to join Marriott Bonvoy, which has 30 hotel brands with 7,900 properties in 138 countries. Evrima, the debut yacht from The Ritz-Carlton Yacht Collection, will cruise across several destinations depending on the season.
Travel rebounds as traveler confidence surges: Travel sentiment is reviving with almost 86% of travelers having taken domestic trips and 42% having travelled internationally since the pandemic started, according to the 2021 Fall Global Rescue Traveler Sentiment and Safety Survey. There has been a 74% surge in people taking domestic trips and 207% increase in international trips. Fear of COVID-19 infection or quarantine while traveling decreased 37% compared to January 2021, with three of four respondents saying they were “less” or “much less” concerned about travel now compared to beginning of the pandemic, a 65% improvement in concerns regarding traveling during the pandemic. The high rates of vaccination have made people confident of traveling, with 73% of travelers vaccinates or having recovered from COVID-19.
Davisdon expands in Atlanta: Davidson Hospitality Group, Atlanta, Georgia, announced the signing of Lake Tahoe Resort Hotel in South Lake Tahoe, California. The 399-suite hotel will be operated under the company’s Davidson Resorts brand. The hotel is the third ski destination property to join Davidson’s portfolio. The resort is located at the base of Heavenly Mountain Resort in the Sierra Nevada, a few steps away from the Heavenly Gondola. Davidson’s portfolio currently comprises 67 hotels and resorts, more than 165 restaurants, bars and lounges and almost 1.5 million square feet of meeting space in the U.S.
Two new full scholarships: The New York University announced two new full scholarships that will be created with the help of Loews Hotels & Co. and its Chairman and CEO Jonathan Tisch. The announcement was made on Tuesday during the 43rd Annual NYU International Hospitality Industry Investment Conference. The Loews Hotels Scholarship and the Jonathan M. Tisch Scholarship will be awarded annually to two graduates of Howard University and/or other historically black colleges or universities, who wish to pursue a master’s degree at the NYU School of Professional Studies Jonathan M. Tisch Center of Hospitality. “These scholarships will serve to ensure that diversity and inclusion, which are core values of the hospitality industry and the Tisch Center, remain at the forefront of all that we do to prepare the next generation of industry professionals. They will provide students from HBCUs with the opportunity to gain the graduate education and build the network they need to prepare for careers in the C-suite,” said Associate Dean Graf.
Thompson Hotels’ new campaign: Hyatt Hotels Corp. introduced ‘Culture Lives Here’, Thompson Hotels’ new advertising campaign that recognizes the abundance of creativity by curating cultural experiences that connect hotel guests with emerging talent in music, art, fashion, design and culinary. Taking place at 13 Thompson Hotels across the U.S. and Mexico in tandem with the brand’s 20th anniversary, a platform will be provided to established and fresh talent (culture shifters) to create cultural activations and installations at each property. Three culture shifter ambassadors — architect, sustainable designer and founder of Slash Objects Arielle Assouline-Lichten; designer, founder and creative director of HARBISON Charles Harbison; and graffiti artist Defer — will be creating original artwork that will be on display at the Thompson Hollywood for a limited time.