Breaking news about deals, development, data and more.
Nashville Construction Loan Secured
Nexera Capital, based in Atlanta, has successfully finalized a $67 million construction loan aimed at developing a dual-branded Hilton property in Nashville’s East Bank area. This location is strategically positioned next to Oracle’s planned $2 billion global headquarters. The Hampton Inn/Home2 hotel is one of several projects that Nexera is undertaking in the East Bank region. The financing for this project was arranged through Arriba Capital.
Sunday’s UK Expansion
Expansion Plans for Sunday Hotel
Sunday Hotel, the upscale brand introduced by the SoftBank-backed Oyo, has unveiled ambitious plans to broaden its footprint in the United Kingdom. Initially launching in the UK with the Lansbury Heritage Hotel located near Canary Wharf in London in 2024, Sunday aims to increase its managed hotel portfolio from 20 to 50 properties by the close of 2026. Currently, the hotels managed by Sunday are situated in cities including London, Cardiff, Bristol, Liverpool, Exeter, and Dundee, benefitting from improved occupancy rates, cost efficiencies, and streamlined daily operations since joining the program.
Boca Raton Hotel Sold
Residence Inn Boca Raton Changes Hands
A division of Waterstone Capital has successfully sold the 120-room Residence Inn by Marriott in Boca Raton, Florida, for $15 million to an unnamed buyer. Plans are in place for the new owner to convert the hotel into student housing intended for Florida Atlantic University. The transaction was facilitated by Marcus & Millichap.
Booking Settles Texas Junk Fee Lawsuit
Settlement Reached Over Junk Fees
Booking Holdings has come to a $9.5 million agreement with the state of Texas to resolve a lawsuit accusing the company of employing misleading “junk fee” practices. The legal action claimed that Booking Holdings, which operates platforms like Booking.com, Priceline, and Kayak, attracted customers with deceptively low room rates that were not genuinely available. This was allegedly done by bundling hotel fees with taxes and charges that were only revealed at checkout, giving the company an edge over competitors that included all fees in the initial price. Under the terms of the settlement, Booking has pledged to disclose any such fees upfront.
Atlanta Hotel Joins Design Portfolio
Hotel Granada Enters Design Hotels Collection
The 120-room Hotel Granada located in Atlanta has become a part of the Design Hotels portfolio, which is a collection of independent hotels under the Marriott International umbrella. As a new member, the hotel will now be included in the Marriott Bonvoy loyalty program. Originally constructed in 1924 as the Granada Apartments, the property underwent renovations and reopened as a hotel in August 2024.
Tryst Expanding to Brazil
Tryst Hospitality Announces New Location
Tryst Hospitality, headquartered in San Juan, Puerto Rico, is set to launch The Tryst Ipanema, a 140-room hotel in Rio De Janeiro, in 2026. The company positions itself as the leading provider of luxury travel experiences for the LGBTQ+ community and has previously revealed plans for three additional hotels: Tryst Puerto Vallarta, which opened earlier this year; Tryst Fire Island, expected to debut next year; and the new Tryst San Juan, also slated for a 2026 opening.
Travelodge Earnings Update
Travelodge Remains Optimistic Despite Challenges
UK-based budget hotel chain Travelodge has expressed confidence in its growth prospects despite facing a challenging first half of the year marked by declines in both earnings and revenue. Operating in the UK, Ireland, and Spain, the brand reported revenues of £471.3 million for the first six months of the current year, down from nearly £487 million during the same period last year. Year-over-year earnings also fell from £82.1 million to £47.3 million. However, the company noted improved trading conditions in the early weeks of the third quarter.
IHG Expands Voco Brand in Thailand
New Voco Hotel Development in Bangkok
IHG Hotels & Resorts is collaborating with SCX Corporation Co. Ltd., a subsidiary of Thailand’s SC Asset Public Co. Ltd., to establish a new 350-room voco hotel in Bangkok, Thailand. The hotel is slated for completion and opening in 2029.
Tourism Boosts Australian Hotel Performance
Australian Hotels See Performance Boost During Tours
Several hotel markets across Australia experienced notable increases in performance during the British and Irish Lions Tour, particularly in Brisbane, which achieved record highs in Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR), according to the latest data provided by CoStar. Over the course of June, July, and August, six Australian cities hosted matches, with Canberra recording the highest single-night occupancy rate at 95.9% on July 9. Compared to the previous year, the market’s ADR (AUD 247.17) and RevPAR (AUD 237) for that night rose by 10.3% and 12.8%, respectively.
