PM Hotel Group’s Post

PM Hotel Group and Sightline Hospitality recently announced a strategic merger that will further the growth of PM Hotel Group’s lifestyle hotel division, Modus by PM Hotel Group. https://lnkd.in/eRvRyNst #hotels #hospitality #LODGING

Some hotel news from 🇺🇸… US based PM Hotel Group has merged with with Sightline Hospitality adding 22 properties (open and in the pipeline) to PM Hotel Group’s portfolio. Sightline’s hotel brands, including nature-focussed RESET and outdoor adventure-led evo Hotels, will join PM Hotel Group alongside their existing Modus by PM Hotel Group lifestyle division. Geographically, the merger also expands PM’s footprint in the US mountain regions, along the West Coast, and marks the group’s debut in the Hawaiian Islands. The newly merged entity will continue to operate under the PM Hotel Group name, which now manages approximately 85 hotels and resorts across the United States. Joseph Bojanowski, president of PM Hotel Group, said: “Joining forces with Sightline Hospitality represents a significant milestone in PM Hotel Group’s ongoing mission to elevate hospitality management standards.” Kirk Pederson, president of Sightline Hospitality, said: “At Sightline Hospitality, the core mission has always been to craft exceptional and immersive experiences for our guests. This merger with PM Hotel Group represents a strategic opportunity to combine our strengths and redefine the boundaries of hospitality excellence.” #hotels #hospitality 📷 Sightline Hospitality/RESET

Instead of buying companies outright, brands like Marriott International and MGM Resorts International are teaming up to offer mutual benefits without the hefty price tag. Peggy Roe of Marriott International, Christopher Hartley of Global Hotel Alliance, Brad Rahinsky of Hotel Equities and Daniel Lesser of LWHA Asset Management Group give us their takes on partnerships in this piece. Daniel Lesser #HOTELS #hotelnews #hospitalityindustry #hotelindustry #hospitalitynews #partnerships #hoteldeals

Hyatt’s acquisition of boutique hotel platform Mr & Mrs Smith is showing early signs of success. Since the deal was announced in June 2023, both companies have reported expanded market reach and back-end systems have been integrated. https://hubs.li/Q02ZV8990

Hotel group Dalata has agreed to sell its Clayton Whites Hotel Wexford to Neville Hotels in a deal worth €21 million. The deal is expected to complete in January, and staff employed at the hotel will transition to the new hotel group.

Hotel group Dalata has agreed to sell its Clayton Whites Hotel Wexford to Neville Hotels in a deal worth €21 million. The deal is expected to complete in January, and staff employed at the hotel will transition to the new hotel group.

#mywyndham We can close this chapter!

🏨 Host Hotels & Resorts Exciting Acquisition in Nashville's Hospitality Scene! 🎉 🌟 Bloomberg reports that Host Hotels & Resorts Inc. acquired the renowned 1 Hotel Nashville and the neighboring Embassy Suites in a landmark transaction valued at over $500 million. 🤝 The acquisition was made from a consortium of esteemed owners, including Starwood Capital Group, Crescent Real Estate, and High Street Real Estate Partners, highlighting collaborative excellence in Nashville's dynamic real estate market. 🏙️ Situated in downtown Nashville, facing the iconic Music City Center, the 1 Hotel Nashville boasts 215 rooms and commenced operations in July 2022, offering guests a luxurious and unforgettable experience. 📈 This strategic move underscores Host Hotels' commitment to expanding its portfolio in high-growth markets, further solidifying its position as a leading player in the hospitality industry. 💼 Representatives for Starwood declined to comment on the transaction, while Host Hotels refrained from immediate response. Requests for comment from Crescent and High Street representatives remain unanswered at the moment. 🌟 Nashville's burgeoning real estate market continues to attract significant investment, with notable transactions including Bill Gates' Cascade Investment reportedly acquiring the Dream Hotel and Xenia Hotels & Resort Inc. purchasing the W Nashville. 🏨 In line with its growth strategy, Host Hotels previously agreed to acquire the Four Seasons in Jackson Hole, Wyoming, further enhancing its presence in upscale leisure destinations. https://lnkd.in/gdhkuDU2

As the hotel industry navigates the challenges of 2024, brand leaders continue to maintain an optimistic outlook and have proactively planned for the year ahead. What specific developments do you foresee shaping the industry in the upcoming year? #HospitalityTrends #HotelIndustry #FutureOfHospitality #HotelInnovation #hotelnews #Hospitality #LodgingConference

By now, you've likely seen the news of Host Hotels & Resorts acquisition of Turtle Bay Resort from Blackstone. One interesting tidbit is that Marriott International, the new operator of the asset, which will transition to the The Ritz-Carlton Hotel Company, L.L.C. flag, put in key money to help secure the deal. "In connection with the rebranding, Marriott provided key money and favorable modifications on several existing management agreements." I often hear about key money being used for new development, but in this precarious stage of the cycle where ground-up development is slim, hotel operators are having to up the ante to gain new management contracts. Would be interesting to know if they outbid any other suitors. Could have been as much as $45M in key money if you read the releases. Managers might now be more pliable to give concessions to owners going forward to secure contracts. Trend to watch.