Mergers & Acquisitions

🏦 PMZ Realty Capital LLC announced closing over $40 million in loans. Key refinances include: $11.3 million for Hilton Garden Inn Bel Air, Maryland, $10.8 million for Hampton Inn Hammond, Louisiana, and $19 million for dual-branded Four Points and Fairfield Inn & Suites Amarillo, Texas. Loans funded in as little as 30 days, reflecting optimism in the hospitality sector and anticipation of Federal Reserve interest rate cuts.

🏆 Mariano Dima named new chairman of Civitatis, a Spanish-speaking tours marketplace, taking over from Sophie Bower-Straziota. With over 20 years of experience at Visa and Vrbo, Dima aims to spearhead growth in Latin America. Civitatis recently received a $50 million investment after a 2022 investment. CEO Alberto Gutiérrez continues to lead the company, focusing on expanding the online presence of tours and activities in Spanish and Portuguese-speaking regions.

🏠 JRK Property Holdings acquired the Hilton La Jolla Torrey Pines in La Jolla, Calif. from Braemar Hotels & Resorts for $165 million. The 294-room resort, on an 11.4-acre site near Torrey Pines Golf Course, boasts ocean views, three dining venues, an outdoor pool, and 65,200 sq ft of meeting space. Eastdil Secured, which marketed the property, noted the hotel's superior occupancy and revenue performance since 2016. Capital investment is planned for refurbishment. 📍 YOTELPAD launches in Europe with YOTELPAD London Stratford, featuring 62 rooms with facilities for short to extended stays. Recognized with an Excellent BREEAM rating, it expands YOTEL's portfolio to 22 global properties. 🏗 Drift Hotels joined Design Hotels, enhancing its international exposure. Drift Hotels, established by TMC Hospitality in 2021, is known for minimalist Baja-inspired design. 🌅 Tapestry Collection by Hilton opened Yoo2 Rio de Janeiro, marking its debut in Rio and Hilton's 20th property in Brazil. The 135-room hotel offers scenic views and amenities like a rooftop pool and bar. Hilton plans to expand with over 10 hotels in Brazil, including two brand debuts.

🏨 Room Mate Hotels acquired Staying Valencia, adding over 500 rooms and five restaurants to its brand. With this, Room Mate's portfolio grows to 32 hotels across Spain, Italy, the Netherlands, the UK, and Turkey. TPG Angelo Gordon and Westmont Hospitality, Room Mate's co-owners since 2022, support the brand's growth trajectory, aiming for a €40 million EBIT and a debt-free status by 2025. Advisors included Clifford Chance, Perez Llorca, Jones Lang LaSalle, PwC, and Arcadis, with JJL advising Staying Valencia.

📍 Ryanair partners with Etraveli Group as its 6th 'Approved OTA' alongside brands like Mytrip, Gotogate, and Flightnetwork. The deal ensures customer information is accurately relayed to Ryanair, offering full price transparency and account access. Etraveli Group will use a direct API for efficient booking. Ryanair also announces its fourth Moroccan base in Tangier for summer 2024, with two aircraft and 25 routes, including 13 new ones, and new Manchester flights.

📊 Forwrd.ai acquires LoudnClear.ai, expanding its no-code data science automation capabilities for RevOps. The merger adds integrations with Salesforce Service Cloud, Zendesk, and Intercom. Kobi Stok, CEO of Forwrd.ai, highlights seamless creation of predictive models without data science teams. Organizations spent $104 Billion in 2023 on data science, with the market expected to grow to $776 Billion by 2032. The AI-driven platform aims to solve costly complexities in data science projects, where 87% fail.

🤓 Forwrd.ai acquires LoudnClear.ai to enhance its no code data science automation for RevOps. This move adds customer service AI and data enrichment capabilities, integrating with platforms like Salesforce Service Cloud and Zendesk. RevOps leaders can now build predictive models without data science teams. AI-based analytics are crucial as data science complexities led to $104 billion in organizational costs in 2023, with the data science platform market expected to reach $776 billion by 2032.

📌 In Washington, D.C., JLL Hotels & Hospitality Group announced the sale and financing of the Home2 Suites by Hilton North Scottsdale, a 130-room hotel, in December 2022. Located in Scottsdale, Arizona, the hotel offers amenities such as a fitness center, outdoor pool, 500 square feet of meeting space, and is near Grayhawk Golf Club and Scottsdale Airport SCF. JLL managed the sale and loan acquisition, with teams led by Ketan Patel and Melvin Chu for Investment Sales and Advisory, and Adrienne Andrews for Debt Advisory.

🏨 Snaptrip Group, including LateRooms, Snaptrip, and Dog Friendly Cottages, acquired The Hotel Guru, an international hotel website, for a seven-figure sum. The Hotel Guru, known for prioritizing guest experience and having a significant presence in the US, will help Snaptrip Group expand globally. Matt Fox, CEO of Snaptrip Group, aims to make it the go-to accommodation platform in the UK and beyond. Hugh Graham-Watson remains The Hotel Guru's MD post-acquisition. Snaptrip Group has been backed by Bestport Private Equity and Forward Partners, aggressively growing since 2017 with acquisitions like Last Minute Cottages Ltd and LateRooms.