Choice Hotels International, Inc. (NYSE: CHH) announced the start of construction on Cambria Hotel Pearl District – Portland and Cambria Hotel Hillsboro with an expected Spring 2025 opening.
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CHICAGO, May 11, 2023 – At its Investor Day today, Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) intends to highlight the strategic actions the Company has taken to…
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BKR Co., Ltd (BKR) has entered into master franchise and development agreement with Tim Hortons
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The six new hotels include openings for Six Senses and InterContinental Hotels & Resorts in the capital city of Rome, and four further signings, a Vignette Collection property in Rome, and Hotel Indigo hotels in Florence, Turin and Trieste.
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For the trailing twelve months ended March 31, 2023, the hotel’s net operating income was $1.6 million, and its Hotel EBITDA was $2.1 million, with the $63.3 million sales price reflecting a 30.7x EBITDA multiple and a 2.5% net operating income capitalization rate.
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Both signings will be a joint venture between real estate fund manager Frogmore and C1 Capital Partners.
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Accor plans to open three properties in the upcoming project by Rua Al Madinah Holding Company in Madinah, Kingdom of Saudi Arabia. The project includes a 142-key Fairmont hotel and 120 Fairmont branded residences, in addition to a 466-key Swissôtel and a 328-key Novotel.
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The Company expects to commence operations at the Condor Hotel and Trinity on or about July 1, 2023. In total, these new properties will add 214 units to the Company’s portfolio of short-stay hotel rooms.
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Four Seasons Private Residences Las Vegas will be set within the MacDonald Highlands community, a private 11-acre (4.5 hectare) oasis in Henderson, Nevada and minutes from the world-class entertainment, fine dining and upscale shopping of Las Vegas.
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The hotel will be located in the region of Arxan, often referred to as the 'Chinese Alps', in the northeast of Inner Mongolia.
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