Hospitality

Pizzuti Delivers 21-Story Hotel in Nashville’s SoBro District

by Alex Tostado August 26, 2020

NASHVILLE, TENN. — The Pizzuti Cos. has opened The Joseph, a 21-story, 297-room hotel in Nashville’s SoBro district. The hotel is part of Marriott International’s Luxury Collection line. The hotel offers indoor and outdoor meeting space, a fitness center, spa and salon, rooftop lounge and restaurant Yolan. The Joseph, named after Pizzuti family patriarch Joseph Pizzuti, is located at 401 Koreans Blvd., less than one mile from downtown Nashville. Miami-based Arquitectonica designed the hotel. New York City-based INC Architecture & Design was the interior designer.

August 26, 2020

Development Hospitality Michigan Midwest

Hotel Indigo Detroit Opens Following $10M Transformation

by Kristin Harlow August 24, 2020

DETROIT — Hotel Indigo Detroit has opened following a $10 million, two-year renovation. Located at 1020 Washington St. in the heart of downtown Detroit, the hotel features 241 renovated guest rooms and more than 1,700 square feet of meeting space. The décor pays tribute to Detroit’s music history as well as the original mid-century design of the building, which first opened as a Howard Johnson Motor Lodge in 1966. A new restaurant known as The Trolley Room will open at the hotel at a future date. Pyramid Hotel Group manages the property. Detroit-based Kraemer Design Group provided the architecture, interior design and furniture specification services for the project. In response to COVID-19, the hotel is deep cleaned with hospital-grade disinfectants. Guests are required to wear face coverings and social distance in public areas. Hotel Indigo Detroit was previously branded as a Holiday Inn Express & Suites. Glenmont Capital Management LLC acquired the property in 2018. The hotel remained open as renovations were completed.

August 24, 2020

Acquisitions Hospitality Western Wyoming

Waterton, Orion Cos. Acquire The Virginian Lodge in Jackson, Wyoming

by Amy Works August 24, 2020

JACKSON, WYO. — Chicago-based Waterton, as part of a joint venture with Jackson-based Orion Cos., has completed the acquisition of The Virginian Lodge and adjacent RV park, located at 750 W. Broadway in downtown Jackson. Built in the 1960s, the 170-key lodge will undergo a repositioning with renovations to rooms, amenities, common areas, retail spaces and food and beverage operations beginning in late 2020. The buyers plan to renovate and redesign the restaurant along with offering indoor/outdoor access via the property’s courtyard and soon-to-be upgraded pool and hot tub area. The repositioning plan also include the addition of five standalone camping units. The 13-acre site includes a main hotel building with 4,900-square-foot conference and event center, plus 2,600 square feet of retail space. Two adjacent buildings offer a 3,400-square-foot restaurant and 2,700 square feet of retail space. The property also includes a 103-stall RV park. OLS Hotels and Resorts/Springboard Hospitality will operate the hotel. New West Building Co. will serve as general contractor and a subsidiary of Orion Cos. will oversee construction. The acquisition price and redevelopment costs were not disclosed.

August 24, 2020

Development Florida Hospitality Southeast

Extended Stay Opens 124-Room Hotel in Florida Space Coast

by Alex Tostado August 21, 2020

TITUSVILLE, FLA. — Extended Stay America Inc. has opened Extended Stay America Titusville-Space Coast, a 124-room hotel in Titusville. The four-story building features complimentary Wi-Fi, cable TV, a fitness center, laundry room and a lobby with vending options. The rooms include fully equipped kitchens with full-size refrigerators, stovetops, cookware, utensils, dishes, pillowtop beds, recliners, a workspace and TV streaming capabilities. The property is located at 4835 Helen Hauser Blvd., 13 miles west of Kennedy Space Center.

August 21, 2020

Development Hospitality New Jersey Northeast

Innzen Hospitality Nears Completion of 76-Room Hotel Renovation in Sea Bright, New Jersey

by Taylor Williams August 21, 2020

SEA BRIGHT, N.J. — New Jersey-based Innzen Hospitality has nearly completed the renovation of the BeachWalk Hotel in the coastal city of Sea Bright. The project includes the addition of 37 more rooms for a total of 76, as well as upgrades to the hotel’s amenity spaces. The property also offers 40 dock slips and 80 parking spaces. Life Hospitality will manage the newly renovated hotel.

August 21, 2020

District of Columbia Hospitality Southeast

AHLA Calls on Congress to Pass New Legislation That Will Help Hotel Owners Pay Mortgages

by Alex Tostado August 20, 2020

WASHINGTON, D.C. — A new national report compiled by Trepp shows that nearly one in four (23.4 percent) of commercial mortgage-backed securities (CMBS) in the hotel sector are 30 or more days delinquent, the highest percentage on record. By comparison, 1.3 percent of hotel CMBS loans were 30 or more days delinquent at the end of 2019. Nearly 4,000 hotel industry leaders signed a letter to the U.S. Congress imploring it to pass the Helping Open Properties Endeavor (HOPE) Act. The bill would provide assistance to small businesses, including hotel owners needing help to meet their debt-service obligations. “With record low travel demand, thousands of hotels can’t afford to pay their commercial mortgages and are facing foreclosure with the harsh reality of having to close their doors permanently,” says Chip Rogers, president and CEO of the American Hotel & Lodging Association (AHLA). “Tens of thousands of hotel employees will lose their jobs and small business industries that depend on these hotels to drive local tourism and economic activity will likely face a similar fate.” According to STR, occupancy levels across the country reached 50.2 percent during the week ending Aug. 15. It was the first time since mid-March that occupancy …

August 20, 2020

Development Hospitality Illinois Midwest

NexGen Hotels to Develop 107-Room Home2 Suites by Hilton Near O’Hare International Airport

by Amy Works August 19, 2020

DES PLAINES, ILL. — NexGen Hotels, serving as general contractor and developer, has unveiled plans for a $16 million Home2 Suites by Hilton, with a scheduled groundbreaking in April 2021. The 63,000-square-foot hotel will be located at 1700 S. Higgins Road in Des Plaines, approximately four miles from O’Hare International Airport. Slated for completion in summer 2022, the five-story hotel will feature 107 suites with fully equipped kitchens, designed for both short-term and extended-stay guests. The property will include outdoor lounge and patio areas, an indoor saltwater pool and Spin2 Cycle, a combination fitness and laundry facility. Alpharetta, Ga.-based Origination Design is serving as architect and St. Louis-based Genuine Hospitality Group will manage the hotel. The hotel is NexGen’s first Home2 Suites by Hilton-branded property.

August 19, 2020

Development Florida Hospitality Southeast

Moss Construction Breaks Ground on 167-Room J.W. Marriott Hotel Near Tampa

by Alex Tostado August 18, 2020

CLEARWATER, FLA. — Moss Construction has broken ground on J.W. Marriott Clearwater Beach, a 167-room beachfront hotel that will also feature 31 residential units in Clearwater. The 391,059-square-foot building will feature a pool on the 11th floor, bar, spa, meeting rooms, ballrooms, fitness center, a beachfront restaurant and about 250 feet of private beach. Baker Barrios designed the project, which is situated on Clearwater Beach at 691 S. Gulfview Blvd., 25 miles west of downtown Tampa. Kiran Patel is the developer. A timeline for completion was not disclosed.

August 18, 2020

Company News Hospitality Midwest Minnesota

Magid HTL Forecast Tracker Predicts $75B in Projected Hotel Revenue Losses This Year

by Amy Works August 18, 2020

MINNEAPOLIS — Minneapolis-based Magid HTL Forecast Tracker has released its predictions for the upcoming 12 months for the hotel industry. The forecast suggests the impact of the COVID-19 pandemic will lead to a 29 percent decline in annual hotel occupancy. The results will be a projected approximately $75 billion revenue loss for the industry. The estimate is according to the Magid HTL Forecast Tracker and Horwath HTL, a global hotel, tourism and leisure consulting brand. The forecasted decline is driven by the disappearance of business and leisure travel coupled with a projected 22 percent decline in consumer sentiment for attending meetings or conferences over the next 12 months. “The forecast shows the continuing significant impact COVID is having on hotel occupancy,” says Rich Garlick, vice president and strategy consultant for Magid. “Currently, the forecast suggests a 39 percent decline in occupancy for the next month. If the average occupancy at this time of the year (summer) is 70 percent, this would put current occupancy around 43 percent.” The most recent wave of research, conducted July 29 to August 2, shows that 71 percent of consumers expect to next stay in a hotel 24 months from now — a result that …

August 18, 2020

Development Florida Hospitality Southeast

St. Joe, BRW MidGrove to Build Boutique Hotel in Panama City Beach

by Alex Tostado August 14, 2020

PANAMA CITY BEACH, FLA. — The St. Joe Co. and BRW MidGrove LLC will build The Lodge 30A, a boutique hotel in Panama City Beach. The property will be situated on Scenic County Highway 30A adjacent to the planned mixed-use development Greenway Station. Amenities at the three-story hotel will include a fitness center and a pool. St. Joe Resort Operations LLC will manage the property. Site development on The Lodge 30A is expected to begin immediately, and the parties anticipate the hotel will open in early 2022.

August 14, 2020

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