Development

Extended Stay America announced today that it entered into an agreement with BASK Development for eight new Extended Stay America Premier Suites located throughout major markets in Florida.

IHG Hotels & Resorts announced Kimpton Pattaya as an extension of its long-standing partnership with Asset World Corp Public Company Limited or AWC in Thailand.

The property, built in 2008, was purchased by Agha Holdings, based in Chatsworth, California, from KAK Enterprises, based in Houma, Louisiana.

As well as the new TUI BLUE Victoria in Menorca, TUI BLUE hotels will be joining the brand portfolio in Hurghada, Egypt; Ayia Napa, Cyprus; Cala Bona, Majorca; and Thailand.

Wyndham Hotels & Resorts today announced the continued expansion of its ECHO Suites Extended Stay by Wyndham brand, which in just one year, now has more than 200 hotels in its development pipeline.

Ennismore today announced it will open Mondrian Abu Dhabi, the brand's first project in the United Arab Emirates, in collaboration with Al Hazoom Group.

The anticipated openings will feature approximately 4,400 rooms across eight of the company’s brands – The Ritz-Carlton, JW Marriott, Marriott Hotels, Westin Hotels & Resorts, Le Méridien Hotels & Resorts, Four Points by Sheraton, Aloft Hotels, and Courtyard by Marriott.

Hotel industry experts say the recent collapse of both Silicon Valley Bank and Signature Bank will in the short term cause banks to tighten their underwriting criteria.

Strengthens the multifaceted collaboration with one of Japan's largest airline and hotel networks

Pebblebrook Hotel Trust (NYSE: PEB) today announced that it closed on the sale of 909 North Michigan Avenue, a 5,860 square-foot 3-tenant fully occupied high-street retail parcel, adjacent to the Company’s Westin Michigan Avenue Chicago for $27.3 million to a third party.