Marriott plans to open two luxury safari camps in Kenya, while Hyatt initiates a tender offer for Playa Hotels & Resorts. Palladium invests $20 million in Jamaica, and Apple Hospitality reports notable RevPAR growth. HPI secures a loan modification, Fertitta becomes a principal shareholder of Wynn, and Canada’s hotel industry exhibits positive growth. Meanwhile, the Middle East’s hotel pipeline expands, and Radisson signs new projects in India.
Marriott International has announced plans to open two luxury tented safari camps in Kenya in collaboration with the Lazizi Group. The Ritz-Carlton, Masai Mara Safari Camp and JW Marriott Mount Kenya Rhino Reserve Safari Camp will feature 20-key accommodations each. The Ritz-Carlton camp is set to debut in August, while the JW Marriott camp is anticipated to open in early 2026, expanding Marriott’s luxury portfolio in the region to three properties.
Hyatt Hotels is moving forward with a tender offer for Playa Hotels & Resorts. Analyst Michael Bellisario from R.W. Baird indicated positive feedback concerning non-binding preliminary interest in Playa’s real estate portfolio. The tender offer concludes on April 25, with a total transaction value estimated at $2.7 billion, requiring that 80% of Playa’s shares be tendered for completion.
In Jamaica, Palladium Hotel Group is investing $20 million to enhance its Grand Palladium Hotels & Resorts in Montego Bay. This expansion project will introduce over 948 new rooms, complementing the existing 1,049 rooms across the Grand Palladium Lady Hamilton Resort & Spa and Grand Palladium Jamaica Resort & Spa, fortifying Palladium’s presence in the area.
Apple Hospitality REIT has reported a 2.7% growth in Revenue Per Available Room (RevPAR) for the fourth quarter year-over-year, driven by increased business travel. The company’s average daily rate (ADR) rose by 1.7%, along with a 2.6% increase in occupancy rates. In 2024, Apple added two hotels while also executing sales of six hotels for approximately $63.4 million, generating a gain of around $19.7 million.
Hamilton Point Investments (HPI), based in Old Lyme, Connecticut, has secured a loan modification for the 241-key Hotel Indigo Detroit Downtown. The financing, organized by CooperWynn Capital of Park City, Utah, allows HPI to maintain its existing loan while relieving costly historical covenants.
Tilman Fertitta, owner of the Golden Nugget in Las Vegas, has become the principal shareholder of Wynn Resorts, acquiring nearly 12.6 million shares. This move elevates him as the largest individual shareholder, surpassing the 10% ownership threshold.
January’s hotel industry performance in Canada exhibited positive trends in room rates. The national occupancy rate rose to 49.8%, while the average daily rate (ADR) increased to CAD180.04, resulting in a RevPAR of CAD89.60. British Columbia reported the highest occupancy levels, with Vancouver leading major markets.
In the Middle East, Saudi Arabia and Egypt head the hotel pipeline for the fourth quarter, with 619 projects and 155,428 rooms in development. The luxury market remains vibrant, showing a 9% increase in projects and 19% growth in room count year-over-year. Riyadh and Dubai are notable cities with significant project pipelines.
Radisson Hotel Group is making strides in India by signing the Era Hotel Bhubaneswar, set to launch in the latter half of 2025 as a member of Radisson Individuals. This addition underscores Radisson’s commitment to expanding its footprint in the region.
The latest developments in the hotel industry reflect a pattern of expansion and strategic partnerships among key players. Marriott is bolstering its luxury offerings in Kenya, while Hyatt engages in significant acquisitions in the hospitality market. Ferreira’s stake in Wynn Resorts and the positive performance of Canadian hotels indicate robust growth in various segments. Overall, these trends illustrate a dynamic landscape characterized by investment, portfolio expansion, and promising financial performance across the industry.
Original Source: www.hotelinvestmenttoday.com
