Jeffrey Weinstein
Editor-in-Chief at Hotel Investment Today
Editor in chief at Hotel Investment Today, loving dad and autism dad, White Sox fan, rock 'n roll fool trying to live the Golden Rule.
Articles
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1 week ago |
hotelinvestmenttoday.com | Jeffrey Weinstein
MIAMI BEACH, Florida – Just underneath the wire, SouthFlorida developers Terra and Turnberry on April 11 closed on a $392 millionconstruction loan to develop the Grand Hyatt Miami Beach. More than five yearsin the planning stages by the developers and supporters, an 800-room, 17-storyproperty adjacent to the Miami Beach Convention Center is now shoveling and setto open in about 26 months.
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1 week ago |
hotelinvestmenttoday.com | Jeffrey Weinstein
NEW YORK CITY – Alexico Group has received a $1 billionoffer from an unnamed source to sell the luxury Mark Hotel on New York City’sUpper East Side, according to a Bloomberg report. With approximately 153 rooms,a $1 billion offer would equate to a record $6.54 million per key offer. Last year, Alexico refinanced the hotel with a $335 millionloan with $300 million in CMBS debt provided by Goldman Sachs.
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1 week ago |
hotel.report | Jeffrey Weinstein
A record 21 brand launches and partnerships in 2024 attracted new guests and a variety of new use cases, driving loyalty program membership and hotel occupancy. Membership surged 14.5% in 2024, outpacing room growth and pushing members per room up by 7.4%. Average member contribution to occupancy rose to 52.8% but room nights per member dipped.
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1 week ago |
hotelinvestmenttoday.com | Jeffrey Weinstein
ATLANTA – Hotel Equities has announced the appointment ofhospitality veteran Greg O’Stean as its new chief development officer(CDO), and the promotion of Joe Reardon to vice chairman. O’Stean, CDO at Aimbridge Hospitality for four years untilJanuary 2024 and for the last year as CEO of Dubai’s United HospitalityManagement, will lead HE’s development platform with plans to acceleratestrategic growth initiatives and help expand the company's global footprint.
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1 week ago |
hotelinvestmenttoday.com | Jeffrey Weinstein
NATIONAL REPORT – Goldman Sachs on Monday downgraded its2025 RevPAR forecast for U.S. lodging C-Corps by approximately 125 basis pointsdue to growing economic and geopolitical uncertainties. Despite resilient TSA throughput, Goldman analyst LizzieDove cited a decline in Canadian tourism and reduced government travel, whichare expected to impact U.S. RevPAR negatively. The bank said it now expects U.S. hotels’ average RevPAR to grow0.4% in 2025, down from its prior estimate of 1.4%.
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