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news about deals, development, data and more.
Ennismore
adding Hoxton to Chicago. Ennismore is partnering with Chicago-based Magellan Development Group
and South Korean-based Hanwha Engineering & Construction to open a second
Hoxton hotel in Chicago as part of a 47-story tower, according to multiple
reports. The project, known as Parcel O, would include a 240-key hotel and more
than 500 projects. Ennismore opened an 182-key Hoxton hotel in Chicago in 2019,
which was developed by Chicago-based Shapack Partners.
USTOA
advises members after tariffs. The U.S. Tour Operators Association (USTOA) advised members
of the possible impact of President Donald Trump’s sweeping tariffs announced
Thursday, according to a story in Travel Weekly. USTOA president and CEO Terry
Dale said in an email to members that he asked the association’s government
affairs firm, Elevate, for its take. Near-term, Elevate said the tariffs could
influence foreigners’ views of traveling to the U.S. and affect the reputation
of American travelers abroad. Longer-term, Elevate said higher product prices
caused by tariffs could potentially decrease consumers’ purchasing power,
making discretionary purchases like travel less affordable. Tariffs also could
increase costs for hotels, airlines and cruise ships. Elevate said there also is the
potential for increased prices of imported beverages and other goods associated
with leisure affecting the bottom line of event venues,
nightlife and restaurants.
Waldorf Astoria’s Japan debut. Hilton is debuting the Waldorf Astoria brand in Japan with the opening of the 252-key Waldorf Astoria Osaka. The hotel is located in the Umekita District in Osaka and is one of 34 Waldorf properties around the world.
Braemar
converts in Chicago. Dallas-based REIT Braemar Hotels & Resorts said it plans to transition the
415-key Sofitel Chicago Magnificent Mile in Illinois into a franchise
structure. The hotel will continue to be the
Sofitel Chicago Magnificent Mile but will be managed by Dallas-based Remington
Hospitality. In connection with the conversion, which is expected to be
effective in May, Remington will offer all employees to remain in their current positions as employees of a
subsidiary of Remington Hospitality. There is no required property improvement
plan associated with the conversion, but Braemar does plan to renovate the
lobby, restaurant and meeting space over the next two years.
AJ
Capital pays $102M for Hotel Boulderado. AJ Capital Partners paid $102 million for the Hotel
Boulderado, according to a report in BizWest. The deal was announced earlier
this week and the hotel will be renovated and added to Hilton’s Graduate brand
but still retain its name.
HHP
acquires in Atlanta. Highline Hospitality Partners (HHP), the hospitality investment platform
launched by Los Angeles-based Highline Real Estate Partners, has acquired the
510-key Hilton Atlanta Airport from an undisclosed seller for an undisclosed
amount. This is the 15th hotel in HHP’s portfolio. Norwalk, Connecticut-based
HEI Hotels & Resorts will continue to manage the property.
Hospitality association honors Alter. Cal Poly Pomona’s Collins College of Hospitality Management presented the 2025 Robert Mondavi Wine and Food Award to Bob Alter, CEO of Seaview Investors, in recognition of his career in hospitality investment, his commitment to hospitality education, and his support in mentoring aspiring entrepreneurs in the hospitality industry. Alter has been an iconic figure in the Southern California hospitality industry and expressed his gratitude for recognizing that “the magic of our industry is giving back, offering guidance, watching students grow, and opening doors to lifelong careers.”
Maeva
sells 4 in Queensland. Sunshine Coast, Australia-based Maeva Hospitality Hotel Group has sold a
portfolio of four hotels in Queensland to Redcape Hotel Group for around AUS$80
million. The hotels include the Bli Bli Hotel, Baringa Tavern, Parklands Tavern
& Brightwater Hotel. Sydney-based HTL Property brokered the transaction.
Dusit
expanding in India. Bangkok-based Dusit International is expanding its presence in India by
launching its luxury and upper-midscale brands in key emerging markets. In
addition to exploring opportunities in India’s Tier 1 cities, Dusit also aims
to target Tier 2 and Tier 3 destinations where luxury and upscale hospitality
options are currently limited – creating opportunities to deliver curated,
high-end experiences tailored to local demand. This strategic expansion builds
on the momentum of Dusit’s recent foray into the Indian market with the opening
of the contemporary, upscale dusitD2 Fagu, Shimla in December and the signings
of three key properties in Karnataka: the wellness-focused Devarana Sakleshpur,
Karnataka – A Dusit Retreat (scheduled to open in 2028), and two upcoming Dusit
Princess Hotels & Resorts.
Morgan
Stanley adds in South Korea. Morgan Stanley is set to acquire the 319-key Shilla Stay
Seodaemun in South Korea from South Korea-based IGIS Asset Management Co. Ltd.
for an undisclosed amount, according to HVS. IGIS acquired the property in 2015
for KRW110 billion and is operated and leased by South-Korea based Shilla HM
Corp. The existing lease is due to expire in 2035.
JD
Wetherspoon’s growth plans. Watford, U.K.-based restaurant and pub company JD Wetherspoon says it
plans to grow to over 1,000 sites through franchising with hotel partners. The
group operates over 800 pubs and has partnered with Christie & Co. to
target hoteliers across the U.K. looking for a cost-effective conversion of an
existing underperforming hotel restaurant into a Wetherspoon pub.
AloJapan.com