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RealZon NYC, 1412 Broadway, New York, NY (2026)

09/26/2023

Two La Quinta Inn & Suites by Wyndham Hotels in Fort Lauderdale, Florida Listed for Sale. The 103-room La Quinta Sunrise Sawgrass Mills and 104-room Sunrise properties are located across the street from the other, both adjacent to I-75 and I-595, offering great accessibility to Fort Lauderdale - Hollywood International Airport and the west coast of Florida as well as east to Port Everglades and the beaches.

Less than two miles from the hotels is the Sawgrass Mills Mall, the third largest shopping mall in the Southeastern U.S. with approximately 2.4 million square feet of retail.

In addition, FLA Live Arena, the home of the NHL’s Florida Panthers, is also located less than three miles from the Property and draws a significant amount of room nights to the properties. The major arena attracts over two million visitors a year to major sporting events and concerts.

Furthermore, there is approximately 4.6 million sq. ft. of office space in the submarket that drives business to the hotels with American Express's major headquarters just a half mile from the properties.

09/12/2023

Lyf Collingwood Melbourne Hotel, Listed for Sale. Melbourne’s newest co-living lifestyle hotel, lyf Collingwood Melbourne, has been listed for sale by prominent Melbourne developer Urban.

The 105-room hotel opened in 2022 and forms part of a mixed-use development, containing boutique office spaces and two restaurants operated by some of Australia’s most reputable food and beverage operators. It also incorporates 35 apartments which are not included in the sale.

Located in the heart of the trendy inner-city suburb of Collingwood, the hotel is just minutes from the famed Smith Street – voted the Coolest Street in the World in 2021 by Time Out.

The purpose-built hotel offers stylish rooms among a range of shared amenities, including a communal kitchen, social lounge and guest laundry.

The hotel will be offered for sale encumbered by a lease to one of Asia-Pacific’s largest hotel groups, The Ascott Limited, under their co-living brand lyf.

09/02/2023

Comfort Inn & Suites Houma in Houma, LA Listed for Sale. HVS Brokerage & Advisory, in cooperation with Eric Vincent Guerrero, as the sole and exclusive advisory firm to ownership, presents the opportunity to acquire the 78-key Comfort Inn & Suites Houma, a limited-service hotel asset in Houma, Louisiana.

Houma is centrally positioned among the bayous of Southeast Louisiana, near the Gulf of Mexico; thus, it is a prime location for many oil-and-gas-related operations. The hotel was closed for renovation following severe flooding and damage sustained by Hurricane Ida in September 2021. The hotel reopened on August 29, 2023. The property is in excellent physical condition given the recent $3,600,000 in renovations, resulting in a nominal change-of-ownership property improvement plan (PIP). The asset will be sold without any management encumbrances, offering an investor the opportunity to purchase a fully renovated hotel well below replacement cost.

08/12/2023

Super 8 by Wyndham Ormond Beach, Florida Sold. DSH Hotel Advisors announced that Dennis S. Hopper, CCIM, Managing Principal of the firm, and Randy B. Taylor, Senior Vice President Investments, arranged the sale of the 48-room Super 8 by Wyndham Ormond Beach, Florida for an undisclosed price on July 11th, 2023. DSH Hotel Advisors represented the buyer, and the seller, 3Hospitality of Ormond, LLC.

"We have a good pulse on the market, and we have qualified buyers reaching out to us daily looking for hotel assets – this allowed for us to broker the sale of the Super 8 by Wyndham Ormond Beach, off-market, and resulted in a quick contract to closing window with a successful sales result achieved for all parties," says Hopper.

"The Super 8 by Wyndham Ormond Beach, was sold confidentially (off-market) and presented a great opportunity for us to show the seller we have an extremely strong buyer pool for limited-service hotels in Florida. In less than 30 days of working on this deal, we were able to achieve healthy market pricing for the seller while still leaving room for the buyer to further improve revenues and continue the long-term success at this location," says Taylor.

08/10/2023

661 Room Tempo by Hilton Times Square Hotel Opens. Hilton (NYSE: HLT) announced the opening of the 661-room Tempo by Hilton Times Square, the first hotel from Hilton’s newest lifestyle brand.

Located in TSX Broadway, a new 46-story tower featuring experiential retail, cutting-edge entertainment spaces and the historic Palace Theatre, the hotel matches the ever-evolving needs of the traveler whose ambitious spirit calls for both moments of relaxation and inspiration. Hotel highlights include expansive views of Times Square, a buzzy cocktail lounge with an outdoor terrace, fitness center with top-of-the-line equipment and signature Tempo by Hilton Wellness Rooms featuring Peloton bikes.

As part of the soon-to-open TSX Broadway, Tempo by Hilton Times Square is setting the stage for a new era of Times Square hospitality. The hotel is located on the Western Hemisphere's most visited corner, where 400,000 people pass by daily.

08/08/2023

Hotels in the 2030s: Perspectives from Accor's C-suite. As one of the largest hospitality companies in the world—and the largest in Europe—Accor is both an observer and a key player in the evolution of travel. Its expanding portfolio of more than 40 brands now encompasses over 5,400 hotels in 110 countries, with a workforce of more than 290,000 people. The company says it seeks to “reimagine hospitality” as it anticipates and caters to travelers’ changing needs and expectations.
In June, McKinsey’s Aurélia Bettati explored the future of hospitality and travel in interviews with three Accor executives—chief digital officer Alix Boulnois and, from the company’s premium, midscale, and economy brands division, chief marketing officer Alex Schellenberger and chief design, technical services, and innovation officer Damien Perrot at Accor’s headquarters near Paris. An edited version of their conversation follows.
McKinsey: People’s travel habits changed a lot during and immediately after the pandemic. How do you think travel—and hotel stays in particular—will change in the coming years? Paint a picture of the hotel guest experience in the 2030s.
Alix Boulnois: When I think about the hotel experience in the 2030s, I think of augmented hospitality, which is this idea we have at Accor that the hotel is more than just a place to stay. It’s not just a travel destination; it’s a location people can enjoy even if they live in the neighborhood. You can eat at the hotel, go to the spa, or enjoy the gym. In the future, a ton of other services could be offered at the hotel, like your bank, your mail, your laundry, and so on.
Damien Perrot: The hybrid model—where the hotel becomes a place dedicated not only to travelers but to locals as well—is an important and growing trend in the hospitality sector. In fact, I’ll make a provocative prediction: in the 2030s, many people will choose to live in hotels instead of in apartments.

08/01/2023

Holiday Inn Express Kenedy Hotel in Kenedy, Texas Sold. HVS Brokerage & Advisory announces the sale of the 68-key Holiday Inn Express Kenedy, located at 4268 US-181, Kenedy, Texas 78119.

The property, built in 2013, was purchased by Monarch Group Hotels, based in Corpus Christi, Texas, from KJ Texas Properties LLC, based in Branson, Missouri.

Kendall Combs of KJ Texas Properties LLC commented, "It was a pleasure to collaborate with the HVS team throughout this off-market transaction. They demonstrated an exceptional understanding of the dynamics between the asset, pricing, and the local oil and gas market. Their expertise was clear as they meticulously executed a comprehensive marketing process. The result was a successful sale to a local group of buyers. I look forward to working with them again in the future.”

The property benefits from its strategic location near the Eagle Ford Shale formation, one of the world's largest contiguous oil and gas plays. Career opportunities in the oil and gas industry continue across production, refining, and distribution, demonstrating continued economic strength in this region.

07/30/2023

Historic Pfister Hotel in Milwaukee, Wisconsin Announces Extensive Renovations. The Pfister Hotel, a historic AAA Four Diamond hotel owned and managed by Marcus Hotels & Resorts, today announced that it is undergoing an extensive, state-of-the-art, multi-phase renovation. The renovation, which began in June and is expected to cost approximately $20 million, will feature a full revitalization of the ballrooms and meeting spaces, followed by all-new guest rooms in its historic tower, and conclude with enhancements to the hotel’s iconic lobby, lobby bar, and Café at the Pfister. All phases of this renovation are expected to be completed by spring 2024, with the newly renovated Imperial Ballroom hosting its first wedding this past weekend.

“Celebrating its 130th anniversary this year, The Pfister is the crown jewel of Milwaukee,” said Michael Evans, president of Marcus Hotels & Resorts. “For generations, The Pfister has been the hotel of choice for presidents, poets, performers and hall of famers. It has served as the trusted backdrop to red-carpet events, history-making announcements, as well as countless galas, weddings, meetings, reunions and more. With these renovations, we are blending our celebrated history and traditions with contemporary refinements, fresh aesthetics and enhanced amenities that will result in The Pfister’s continuation as a Milwaukee and national icon for generations to come.”

07/27/2023

STR U.S. Hotel Performance Review for June 2023. June 2023 Top-Line Metrics (percentage change from June 2022)

- Occupancy: 69.7% (-0.4%)
- Average daily rate (ADR): US$158.40 (+2.3%)
- Revenue per available room (RevPAR): US$110.33 (+1.9%)
Key points:

- U.S. hotel demand declined slightly year over year, but modest supply growth helped mitigate the impact on occupancy.
- Another month of moderate ADR growth (+2.3%) led RevPAR to rise 1.9%.
- Normalization continues to be the theme of U.S. hotel performance, as weekend occupancy declined, and weekday occupancy increased relative to 2022.
- Chain-scale performance further supports normalization, as high-end (Luxury/Upper Upscale) hotel demand grew, and Midscale/Economy hotel demand declined in June.
- Luxury chains reported further softening in ADR as the balance between Luxury and Upper Upscale ADR slowly reverts to the longer-term average.
- Transient demand growth outpaced group demand growth for the first time since early 2021 as the group demand equation included a difficult year-over-year comparison.
- The Top 25 Markets continued to be a demand bright spot, growing 0.6% in June and 0.7% for the quarter.
- The volume of rooms under construction remained stable.

06/29/2023

AAA projects 50.7 million Americans will travel 50 miles or more from home this Independence Day weekend*, setting a new record for the holiday. Domestic travel over the long weekend will increase by 2.1 million people compared to 2022. This year’s projection surpasses the previous July 4th weekend record set in 2019 of 49 million travelers.

“We’ve never projected travel numbers this high for Independence Day weekend,” said Paula Twidale, Senior Vice President of AAA Travel. “What this tells us is that despite inventory being limited and some prices 50% higher, consumers are not cutting back on travel this summer. Many of them heeded our advice and booked early, another sign of strong travel demand.”

This July 4th weekend is expected to set a new record for the number of Americans traveling by car for the holiday. AAA expects 43.2 million people will drive to their destinations, an increase of 2.4% over 2022 and 4% higher than 2019. This summer, gas prices are well below what they were one year ago. The national average for a gallon of regular was $4.80 on July 4th, 2022. Gas prices have remained steady the past couple of months, with the national average hovering around $3.50 to $3.60 a gallon, thanks to the lower cost of oil.

04/27/2023

Quadrum completes acquisition of The Williamsburg Hotel Quadrum Global completed the purchase of The Williamsburg Hotel in Brooklyn’s Williamsburg district, making it its fourth hotel in New York City. The company is also the owner and developer of Arlo Soho, Arlo Nomad and Arlo Midtown.

The eight-story brick tower, which opened as The Williamsburg Hotel in 2017, is located in Brooklyn’s cultural district. In addition to 147 guestrooms, including eight suites, the property features a 6,500-sq.-ft. grand ballroom, a 1,250-sq.-ft. restaurant, a 3,000-sq.-ft. lobby bar and lounge, a water-tower rooftop bar and a rooftop lounge and pool area offering 360-degree views of the Manhattan skyline.

The $96-million purchase comes on the heels of Quadrum Global’s recent development and opening of Arlo Wynwood in November 2022, the first-ever hotel in Miami’s Wynwood neighborhood, and the opening of Arlo Chicago this month.

“New York City will always remain one of the greatest centers of the world for finance, culture, art, and entertainment,” said Oleg Pavlov, founder/CEO, Quadrum Global and Arlo Hotels. “This property has been part of the district’s vitalization, and we look forward to working with the community and our neighbors to make Williamsburg an even more sought-after destination.”

04/03/2023

Iconic Hotel Washington, Washington, D.C. Reemerges As an Independent Hotel. Long regarded as an iconic destination in the heart of the nation's capital, Hotel Washington reclaims the name that graced the property when it first opened its storied doors in 1917 as part of a property-wide rebrand.

Most recently operating as a W Hotel, the Hotel Washington legacy continues to evolve, and on the heels of recent enhancements to public spaces and a new lobby restaurant planned to debut this summer, the hotel is a reimagined destination and sophisticated meeting place for those in the know.

"It's been an honor to be at the helm of such a transformative moment in Hotel Washington's story," said Stephane Vogel, general manager of Hotel Washington. "The property has been widely recognized as an icon in the hospitality landscape of Washington, D.C. since opening its doors over 100 years ago. We are excited to reinvigorate the life of the hotel and reclaim its status as a stopping point for world leaders, dignitaries, entrepreneurs, and elevated thinkers. Our name celebrates our city, owns our location and puts a stake in the ground as the place to be. While there are many hotels in Washington, there is only one Hotel Washington."

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