Mergers & Acquisitions

📢 Mews welcomed Clarity Hospitality Software Solutions, marking growth in New Zealand and the UK. Mews Ventures has completed 12 acquisitions, with Clarity being the seventh PMS addition. Founded in 1992, Clarity adapted with a cloud-based platform, aligning with Mews' innovative hospitality vision. Clarity serves hundreds of hoteliers, and these customers will now experience enhanced services with Mews, including recent additions like Atomize revenue management and Quotelo events management. Mews was named Best PMS for the second consecutive year at the HotelTechAwards.

💰 In Plano, Texas, Aimbridge Hospitality announced a Restructuring Support Agreement to convert over $1.1 billion in debt to equity and add $100 million in new capital. Supported by over 80% of first lien lenders, 100% of second lien lenders, and its existing sponsor, the deal reduces total debt from $1.3 billion to a maximum of $210 million. Aimbridge, led by CEO Craig S. Smith, anticipates a stronger financial position to boost long-term strategy. The restructuring, maintaining current operations, is expected to complete in Q1 2025.

🏡 Crestline Hotels & Resorts LLC assumed management of Five Senses Hospitality's 13 hotels across Colorado, Kansas, and Arkansas, adding 1,240 keys to their portfolio. The company now manages 135 properties in 29 states plus DC. The portfolio features big-brand hotels like six Marriott, two Hilton Tapestry, one IHG, one Hyatt House, two Choice Hotels, and an independent hotel. Additionally, Crestline will manage a new Tapestry by Hilton Hotel in Fort Worth, Texas, set to open later this year.

🏨 Mumford Company completed key hotel transactions in 2024 and expects strong deal flow into 2025, despite labor shortages and inflation. Transactions included the 125-room Hampton Inn Manassas, VA; 103-room Hyatt Place Rogers/Bentonville, AR; 71-room Holiday Inn Express & Suites Fairmont, WV; 81-room Comfort Suites at Isle of Palms Connector in Mount Pleasant, SC; and the 24-room Motel 6 Colorado City, TX. The firm is optimistic for 2025, citing a strong buyer market and hotel industry recovery.

🏖 The Travel Team, with 38 years in business and five employees, joined Advantage Travel Partnership, citing commercial and marketing support benefits. Director Liz Beaty has 30 years at the agency, while manager Helen Griffiths brings 20 years of experience. Advantage's Kelly Cookes announced over 50 new branches and £500 million in new member turnover this year, reflecting significant growth from various sectors in the travel industry.

🏠 First Hospitality now manages The Abbey Resort & Avani Spa on Lake Geneva, Wisconsin, expanding its portfolio. The Abbey, opened in 1963, spans 90 acres with 334 guestrooms, including 13 suites, and boasts amenities like indoor/outdoor pools and boat rentals. Avani Spa offers a 35,000 sq ft fitness and wellness space. The resort features two full-service restaurants and additional dining options. The Lake Geneva Conference & Event Center on-site provides over 40,000 sq ft of meeting space.

🏨 Access Point Financial (APF), based in Atlanta, Georgia, surpassed $2 billion in hotel financing in 2024, a record-breaking year. APF's transactions comprised $0.5 billion in bridge and mezzanine loans, and $1.6 billion in SASB hotel originations through HRR/G/H bond classes for CMBS refinancings. APF funded or partnered in financing 110 hotels totaling $2.1 billion. Key deals include a $53 million Marriott portfolio in the Mid-Atlantic, a $44 million Hilton portfolio in Florida, and more. APF is set to continue its growth trajectory into 2025.

🏖 Playa Hotels & Resorts to sell Jewel Paradise Cove in Jamaica for $28.5 million in cash; closing expected Q1 2025. Adult-only resort opened in December 2013; third Jamaican resort sold by Playa in five years. Sandals Dunn’s River, the former Jewel Dunn’s River, reopened in May 2023. Playa's Jamaican resort revenue decreased by 14% to $147.03 million, occupancy dropped from 80.8% to 72.9% in 2024. Jewel Palm Beach and Jewel Punta Cana sold for $68 million and $82 million, respectively. Playa manages 24 resorts and 8,627 rooms across Mexico, Jamaica, and the Dominican Republic.

🏡 Meliá Hotels International, in collaboration with Grupo Mirgor, will open a $50 million luxury hotel in Ushuaia, Argentina by 2028, under the Gran Meliá brand. Promising to be the southernmost in Meliá's portfolio, it will feature 200 rooms, two restaurants, bars, an 800-person auditorium, pools, spa, gym, and other amenities. The project aims to enhance Tierra del Fuego's economy, is expected to create 200 jobs, and aligns with Grupo Mirgor's diversification strategy. Meliá operates four other hotels in Argentina and is expanding in LATAM.