JLLs Hotels & Hospitality Group announced today that it has closed the sale of 525 Lexington Ave., a 35-story, 655-key, full-service hotel in New York Citys Midtown East neighborhood. The parties have agreed to not disclose the purchase price.
Hilton (NYSE: HLT) recently announced the signing of its second property in the city of Marsa Alam, Hilton Marsa Wazar Red Sea Resort & Spa. In partnership with Boulevard for Tourism Development, the property will be operated under the Hilton Hotels & Resorts brand.
Rebrand plans include $110 million transformative renovation to hotels guestrooms and public areas, as well as an expansion of meeting and event space
Resort to Open in 2025
The 549-room indoor water park resort was officially announced today during a groundbreaking event and is expected to start welcoming guests by mid-2025.
With these additions, Curator has grown to 98 members, expanding their footprint in Napa Valley, the rapidly expanding Austin market, and the coast of historic Connecticut.
The asset-light acquisition includes 12 lifestyle hotels (nine managed and three licensed), with another 24 signed long-term management agreements for hotels expected to open in the future.
Colliers Hotels and Eastdil Secured ILC announced the sale of the InterContinental Montreal on behalf of Pandox AB to Groupe Mach.
Fourteen hotels and resorts are set to be added to Dusit's portfolio this year across China, Greece, India, Japan, Kenya, Nepal, and Thailand.
Hotel investment sales accelerated in the second half of 2022 with year-end volume pacing at approximately $1.6 billion.