Mergers & Acquisitions - 10 Minutes News for Hoteliers - Page 59

2 min

Charter Holdings Acquires Tru by Hilton Dallas Market Center

🏢 In Dallas, Texas, Charter Holdings and Liberty Hospitality Partners have acquired the Tru by Hilton Dallas Market Center, adding the 152-room hotel to their portfolio and planning renovations, including the city’s largest open-air rooftop bar. The strategic investment by the two companies seeks to transform the rooftop into a popular destination, delivering prime views of the Dallas skyline, with Ray Washburne’s M-Crowd restaurant group operating the bar. The hotel, benefiting from Dallas's growth as an economic and cultural hub, caters to both business and leisure travelers and is part of the Hilton Honors loyalty program.

2 min

Accor to launch TRIBE and TRIBE Living in Saudi Arabia

🏡 Accor and Naif Alrajhi Investment are launching the first TRIBE and TRIBE Living properties in Riyadh, Saudi Arabia, as part of the King Salman Park development. The TRIBE Riyadh King Salman Park will feature 250 rooms, two restaurants, meeting spaces, a banquet hall, a gym, and a swimming pool. TRIBE Living will offer 150 apartments, from studios to three-bedroom units, with shared amenities such as a clubhouse. The urban park spans 290,000 square meters, offering residential, commercial, and community facilities. Accor currently operates 1,683 hotel keys in Riyadh, with another 2,740 in the pipeline.

3 min

The countdown to the re-opening of the iconic Delano Miami beach begins

🏖️ Delano Miami Beach, operated by Ennismore and Cain International, is set to reopen in late 2025 after renovations. The iconic venue, established in 1947 with a 90s renovation by Ian Schrager and Philippe Starck, will feature 171 rooms and suites, four restaurants and bars, and a spa. Delano recently expanded with a new Dubai location in October 2024 and the first Maison Delano in Paris in April 2023. Cain acquired a minority stake in Delano in 2024, aiming for global growth.

Griffin Hotel Management LLC Merges Into Meyer Jabara Hotels

🏨 USA, Danbury, Connecticut, December 27, 2024 – Griffin Hotel Management LLC merges into Meyer Jabara Hotels, transferring 14 assets with plans to expand the portfolio to 50 hotels by Q1 2025. Griffin's James Kirkland becomes Senior VP of Operations - Western Region, operating from Austin, Texas, while majority owner Jay Fishman takes a business development role in Chicago. The merger enhances Meyer Jabara Hotels' western presence, in states including Texas, Illinois, and Arizona, and brings in new capital partners. Fishman, a CPA with a B.S. in Accounting from Indiana University, previously helmed Associated Hotels LLC and VMS Realty Partners, dealing with over 40 hotel transactions. Kirkland, with experience in Marriott International and Hilton, has opened over 30 properties in the U.S. and studied Business Administration at Texas State University.

Walt Disney World Swan and Dolphin to Launch $275 Million Transformation and Expansion Project

🏖️ In Lake Buena Vista, Florida, the Walt Disney World Swan and Dolphin announced a $275 million renovation and expansion project on December 27, 2024. The enhancement includes 120,000 square feet of additional event space, upgrades to existing meeting spaces and Swan guest rooms. This will increase total meeting space to 469,000 square feet, with the largest contiguous space being 175,000 square feet. A new annex will add 41,000 square feet of multipurpose space and a 41,000 square foot ballroom. Renovations of existing spaces and guest room remodels will be completed by summer 2025 and 2024, respectively. Groundbreaking for the expansion is set for November, with completion expected in late summer 2026.

2 min

Historic Inn at Warner Hall Acquired by BluWater Group

🏠 BluWater Group, based in Orlando, Florida, acquired the Inn at Warner Hall in Gloucester, Virginia. The Inn, founded in 1642, features 11 rooms on a 38-acre estate and is listed on the National Register of Historic Places. Previously owned by Troy and Theresa Stavens, the property has historical ties to George Washington's great-great-grandfather. The Inn will undergo a two-month renovation starting January 4, including restaurant upgrades. Former owners foresee BluWater honoring its legacy.

1 min

Hyatt Discloses Exclusive Discussions with Playa Hotels & Resorts N.V.

👤 CHICAGO, Illinois—Hyatt Hotels Corporation announced an exclusivity agreement with Playa Hotels & Resorts N.V. (NASDAQ: PLYA) for potential strategic alternatives, including a possible acquisition. Mark S. Hoplamazian, President and CEO of Hyatt, highlighted Playa's strong operation of all-inclusive resorts and quality portfolio. Hyatt, owning 9.99% of Playa's outstanding shares, has filed an amendment to its Schedule 13D with the SEC. No further comments will be made until a definitive agreement is reached.

4 min

Playa Hotels & Resorts manages many brands. What a Hyatt acquisition of it could mean.

🏨 Hyatt Hotels Corporation announced on Monday an exclusivity agreement with Playa Hotels & Resorts for potential strategic alternatives, including acquisition. The agreement lasts until February 3, 2025. Playa manages 24 resorts and works with Hyatt on 8 all-inclusives. In November 2021, Hyatt acquired Apple Leisure Group, adding to its inclusive offerings. Hyatt's Inclusive Collection room portfolio is expected to grow by 30% through a strategic joint venture with Grupo Piñero, managing Bahia Principe-branded hotels. Marriott and Hilton are also expanding in the all-inclusive segment. Hyatt holds 9.99% of Playa’s shares and has disclosed the discussions as per securities laws.

2 min

WaterWalk Holding Company Completes Successful Sale of WaterWalk Phoenix

🏖️ WaterWalk Phoenix North Happy Valley in Kansas was sold to Ignite Hotels LLC in February 2023, marking WaterWalk Holding Company’s first asset sale. The property is a 126-unit hotel featuring both furnished and unfurnished upscale extended-stay units. WaterWalk Hospitality will continue managing the location under the WaterWalk Extended Stay by Wyndham brand post-sale. The extended-stay market is expanding, driven by rising demand from various traveler types. This strategic investment is brokered by HREC, fostering partnership between WaterWalk Hospitality and Ignite Hotels.

2 min

Rockbridge acquires three Hotel ZaZa properties in Texas

🏨 Rockbridge acquired three Hotel ZaZa properties in Texas: Austin Downtown (159 rooms, 6,840 sq ft meeting space), Dallas Uptown (166 rooms, 5,528 sq ft meeting space), and Houston Museum District (315 rooms, 15,400 sq ft meeting space). Rockbridge CEO Jimmy Merkel plans to enhance the ZaZa brand, building on its 25-year history. The firm has invested in over 310 properties across 39 states, totaling $11 billion in capitalization, with $4.3 billion assets under management.

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