Hotel Management

1 week ago | hotelmanagement.net | Esther Hertzfeld

Kabani Hotel Group has sold the Travelodge Fort Myers Airport in Florida for $3,750,000, reflecting a price per key of $76,530 across its 49 interior corridor rooms. Other terms and conditions were not disclosed. The deal was led by Kian Mclean and Amed Kabani. The sale achieved a revenue multiple of 4.64x.

1 week ago | hotelmanagement.net | Jena Tesse Fox

JLL’s Hotels & Hospitality Group has arranged a $136 million refinancing for the Fairmont Orchid, a 540-key resort on Hawaii Island. JLL worked on behalf of the borrower, Mirae Asset Global Investments Co., to secure a five-year, fixed-rate loan through New York Life Real Estate Investors. “We are pleased to have closed the financing of the Fairmont Orchid, a premier luxury full-service resort,” James Nearon, senior director of NYLREI’s West Coast originations team, said in a statement.

1 week ago | hotelmanagement.net | Dennis Nessler

A pair of hospitality executives, Elliot Mills and Jerry Gibson, have launched the Hawai‘i Hospitality Group (HHG), an asset management firm headquartered in Hawai‘i. Focused on hotel, resort, and tourism-aligned real estate across the Islands, HHG offers a hands-on approach to hospitality and tourism asset management, ​ grounded in operational experience and long-standing relationships across the state, according to the association.

1 week ago | hotelmanagement.net | Esther Hertzfeld

Hyatt Hotels launches Unscripted by Hyatt, the latest brand in its Essentials portfolio. Unscripted by Hyatt hotels will bring to life a flexible, collection-style approach where each property reflects its own identity and local flavor yet remains Hyatt in quality and care. Hyatt said it has more than 40 hotels globally in active discussions to join the brand.

1 week ago | hotelmanagement.net | Dennis Nessler

The Ambassador Hotel of Waikiki in Honolulu has become the first hotel in Hawaii to join the Tapestry Collection by Hilton following a renovation. Now operated by Highgate, The Ambassador's newly renovated, midcentury design looks to celebrate the modern spirit of Waikiki with subtle nods to the property's founding origins dating back to the 1960s, according to the company.