Cross adds a ninth hotel; IHG signs 5 conversion agreements – HOTELSMag.com
Cross adds the ninth: Cross Hotels & Resorts, Bangkok, Thailand, has signed a management agreement for a Bangkok waterfront property with Kene Hotel Bangkok Co. Ltd. The 169-key Away Bangkok Riverside Kene will be the ninth addition to Cross’ portfolio this year. Cross’ portfolio includes more than 27 hotels under five brands in Indonesia, Vietnam, Thailand and Japan.
IHG signs 5 conversion agreements: IHG Hotels & Resorts has signed a multi-property development agreement with France’s Grape Hospitality for five conversion properties totaling 810 rooms in key destinations across Europe. Properties include the voco Madrid Center Retiro (the first voco hotel in Spain); three Hotel Indigos (in Florence, Italy; Bordeaux, France; and Barcelona, Spain) and Crowne Plaza Madrid Center Retiro. The Hotel Indigo brand now has 40 hotels open in Europe with 19 more in the pipeline, while voco has grown to 15 properties open in Europe following the recent opening of voco Dusseldorf Seestern and voco Venice Mestre – The Quid. Crowne Plaza has 88 hotels open in Europe, including a recently opened property in Budapest.
NewcrestImage JV acquires BW Plus: A joint venture of NewcrestImage, Dabu Hotels and Countrywide Hospitality has acquired the Best Western Plus in Page, Arizona. The 130-key hotel will be operated by Terrapin Hospitality. NewcrestImage has now added 77 hotels totaling 8,000 rooms since March. In September alone, the Dallas, Texas-based company added 60 Marriott-branded hotels with about 5,500 rooms in 19 states.
Tivoli Hotels makes its debut in Spain: Tivoli Hotels & Resorts has announced its debut in Spain with the upcoming launch of Tivoli La Caleta Resort in Tenerife, Canary Islands. The resort, closed and under renovation, will reopen in the spring of 2023 and will offer 284 rooms including 20 suites. Tivoli will continue to work with Portuguese chef Olivier de Costa to develop and implement new concepts. The brand currently has 16 properties in four countries.
RADCO acquires in Florida: RADCO Companies has acquired three new hotels in the Gulf of Mexico resort community of Panama City, Florida at an undisclosed price. Properties include a Hampton Inn, Home2 Suites and an adjacent Fairfield Inn & Suites. All three properties will be managed by LBA Hospitality. The properties add 281 Marriott and Hilton rooms to RADCO’s Hospitality Division. Hospitality Real Estate Counselors served as brokers for the Home2 Suites and Fairfield Inn hotels, while Hunter Hotel Advisors brokered the Hampton Inn deal. One of the acquired properties opened in 2021, while the other two will undergo minor renovations. RADCO will make further capital and operational improvements to all properties as part of its value-added strategy. RADCO created a hospitality division in 2021 in response to operational and capital market disruptions in the hospitality industry caused by the pandemic.
Hyatt Place El Segundo sells: JLL’s Hotels & Hospitality Group has completed the US$49 million sale of Hyatt Place Los Angeles/LAX/El Segundo in El Segundo, California. JLL represented the seller, Washington Holdings, and recruited the buyer, Welcome Group, headquartered in El Segundo. The 143-key, select-service hotel was sold unhindered by management. It was renovated in 2020. The JLL team was led by Senior Managing Director John Strauss, Managing Director James Stockdale and Executive Vice President Melvin Chu.
Streetsense acquires Pure Grey: Streetsense, an experience-based strategy and design group, has acquired Pure Grey, Marriott International’s F&B concept and operations consultancy. Pure Grey, which offers experiences across all segments of hospitality and licenses its own restaurant brands worldwide, has developed restaurants and bars like Revel & Rye at the New York Marriott Marquis, Laurel Brasserie & Bar at Grand America Hotel, Spice Market at Live Aqua San Miguel de Allende, Mexico, and launched the Market Kitchen brand at W Algarve, Portugal. Pure Gray also helped Marriott revamp its restaurant strategy after the merger with Starwood Hotels & Resorts. Streetsense has appointed Ed Viita, Managing Director of Pure Grey, as its new General Manager of Hospitality.