Six new ‘Lyfs’ signed: Singapore-based The Ascott Limited’s co-living brand Lyf, which caters to millennials, is adding over 1,000 units across six new properties secured in Melbourne, Australia; Beijing, Hangzhou, Shanghai and Xi’an, China; and Manila, the Philippines. The first Lyf property in Thailand, Lyf Sukhumvit 8 Bangkok, is set to open on July 31.
The new CEO of MGM Resorts: MGM Resorts International executive Bill Hornbuckle has had the “acting” removed from his title: He’s now officially the company’s president and CEO. The company announced Wednesday afternoon that after a nationwide search, MGM’s board of directors concluded that Hornbuckle was the right person to succeed Jim Murren, who stepped down as chairman and CEO earlier this year. Hornbuckle has held the acting president and CEO title since March.
More from the Las Vegas Review Journal
Hyatt in southern Spain: A Hyatt affiliate has entered into a franchise agreement with a wholly owned subsidiary of Intriva Capital European Principal Investment Fund I LP, a European private equity fund, to see the former Byblos Hotel in Mijas, Spain redeveloped into a luxury 200-bedroom resort. The property, which has been closed since 2010, will be managed by Marugal Hotel Management and will mark the first Hyatt-branded hotel in Southern Spain. The property is expected to open in early 2022.
Rosewood grows in Shanghai: Rosewood Hotels & Resorts® has been appointed by Shanghai-based property development company, Lonsen Land Group, to manage Rosewood Shanghai, a new 200-room hotel in mainland China set to break ground in 2022, with an expected opening in 2028. Situated in the heart of Shanghai’s Jing’An District and Suhewan area, an emerging business and cultural hub, Rosewood Shanghai will occupy prime real estate within a mixed-use project designed by Foster + Partners.
Watermark Lodging gets US$450M in financing: Watermark Lodging Trust, a Chicago-based hotel REIT formed by the merger of two former Carey Watermark vehicles, has completed a strategic financing transaction with Ascendant Capital Partners and Oaktree Capital Management. The company received US$200 million of preferred equity capital and a commitment of up to US$250 million of new preferred equity capital over the next 18 months. The investors have also been granted warrants to purchase up to 6.75% of the company’s fully diluted common equity.
Anantara to debut in the Seychelles: The Anantara brand will debut in the Seychelles with the upcoming rebrand of the Maia Luxury Resort & Spa to the newly named Anantara Maia Seychelles Villas. Located on the southwest coast of Mahé, the Bill Bensley and Lek Bunnag designed resort offers 30 private villas.
Pebblebrook sells in Nashville: Bethesda, Maryland-based Pebblebrook Hotel Trust has closed on the sale of the 125-room Union Station Hotel Nashville, Autograph Collection in Nashville, Tennessee for US$56 million to a third party. Proceeds from the sale will be utilized for general business purposes which may include reducing the company’s outstanding debt.
Accor grows in regional Queensland: The Travelodge Hotel Rockhampton in Queensland, Australia has been rebranded to Mercure Rockhampton under a franchise agreement with Accor. Refurbished in 2008, the eight-story, 74-room resort has six conference spaces, an outdoor swimming pool, and fitness center.