The current lending climate for the hotel industry is "very good" but reflects more caution than the "frothy" and "ebullient" pre-recession atmosphere, according to the organizer of a recent Meet the Money conference. Jim Butler, chairman of Jeffers Mangels Butler & Mitchell's Global Hospitality Group, projected continuing growth over the short term.
An undisclosed buyer has acquired Templin's on the River in Post Falls, Wash., from Red Lion Hotels. The property will remain Red Lion-branded with the $9.25 million transaction, one of seven sales by the chain over the past eight months.
The swelling of the US hotel pipeline in the year's first quarter has been accompanied by an increase in multidevelopers, according to Lodging Econometrics. The firm's analysis showed 326 developers with three or more projects each as planned projects rose 4% and rooms 6% over 2017.
The largest hotel operator in the Nordic countries has transformed one of its Stockholm properties into a base-camp-themed sanctuary aimed at the outdoorsy set. Downtown Camper by Scandic Hotels features a lobby designed for the sociability of hikers' retreats and offers equipment and guidance for both urban and wilderness experiences.
As hotels update buildings and amenities, training staff to match the new look and offerings should also be a priority. "You can get so focused on the ownership and management side and repositioning or enhancing the position of an existing hotel, and it's important not to forget that people are what make the experience," said Naveen Kakarla, HHM Hospitality's president and CEO.
A state panel in California says the shuttered Hotel Fresno qualifies for inclusion on the National Register of Historic Places. The property opened in 1913.
Indiana's Fort Wayne Economic Development Commission approved the issuance of a $5.5 million bond for the development of a boutique hotel that's expected to be five stories and have 125 guest rooms.
The AMResorts name will make its entry into the European market with the four properties opening in Spain next year. "Spain has an abundance of beach and leisure destinations as well as one of the strongest all-inclusive resort markets outside of the Caribbean," said Apple Leisure Group CEO Alex Zozaya.
Raffles Hotels & Resorts is making its North American debut with a mixed-use property in Boston featuring 147 hotel rooms and 146 residences. "We are proud to announce the introduction of Raffles Hotels & Resorts, one of our portfolio's most iconic and beloved luxury brands, to Boston, an American city with a powerful history of cultural significance and landmark events," said Kevin Frid of AccorHotels.