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Chestnut Run Innovation & Science Park hotel secures $23.5M construction financing

Hotel Business

million in construction financing for the development of a new Residence Inn by Marriott hotel in Wilmington, DEs Chestnut Run Innovation & Science Park (CRISP). The construction financing was arranged by Philadelphia-based D2 Capital Advisors’ Jack Cortese, David Frankel and John Lightcap. D2 Capital Advisors arranged $23.5

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Exclusive: Radisson development boss Ramzy Fenianos talks SEAP growth strategy

Hotel Management

2023 was a pivotal year for RHG where we expanded our relationship with key partners and operators. In the Philippines, we expanded our decade-long partnership with SM Hotels and Conventions Corp through a Master Development Agreement to reach 20 hotels by 2028 from six hotels in operation today.

Pipeline 264
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IHG brand portfolio climbs to 20 as modern lifestyle offering joins the fold

Hotel Management

Established in 2013, the Ruby brand 20 th brand in the IHG portfolio currently operates 20 hotels (3,483 rooms) in major cities across Europe and has another 10 pipeline hotels (2,235 rooms). InterContinental Hotels Group (IHG) has acquired premium urban lifestyle brand, Ruby, for 110.5 Also, the timing could not be better.

Branding 130
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Exclusive: effective asset management ‘crucial’ amid complex operating environment, says JLL

Hotel Management

There are still some signature hotels in the pipeline, with the Marriott Adelaide, Shangri-La Melbourne, Star Grand Brisbane, and 25hours Sydney scheduled to open over the next year. Owners and operators will need to adopt a defensive approach to asset management, maintaining a laser focus on their operating structures.

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Exclusive: hotel market expansion to peak in next 12 months, says CBRE

Hotel Management

Following this wave of additions, higher debt cost and construction costs are anticipated to suppress the development pipeline, with activity being largely limited to key strategic sites usually having mixed use appeal. Melbourne is the primary recipient of new room supply (35% of total).

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Wyndham reaches pipeline room record in Q1

Hotel Business

The company’s development pipeline consists of nearly 2,000 hotels and approximately 243,000 rooms, an all-time record for the latter. Increased interest from hotel owners in our brands has propelled our development pipeline to a record 243,000 rooms, marking an impressive 8% increase. and growth of 14% internationally.

Pipeline 105
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Robust new construction, renovation and conversion announcement activity over the last 12 months

Hotel Business

Over the last 12 months, new hotel construction projects, announced renovations and brand conversions continued to grow, with renovation and conversion activity hitting record highs quarter-over-quarter (QOQ). Over the last year, new hotel construction projects, renovations and brand conversion announcements have increased significantly.