Marriott is launching two luxury safari camps in Kenya, enhancing its local portfolio. Hyatt is conducting a tender offer for Playa Hotels, while Palladium begins a $20 million expansion in Jamaica. Apple Hospitality reports increased RevPAR, and Hamilton Point modifies its loan for better financial terms. Fertitta becomes the largest shareholder in Wynn, and Canada’s hotel industry shows positive trends, supported by growth in the Middle East’s hotel pipeline. Radisson plans a new hotel in India.
Marriott International is expanding its presence in Kenya by partnering with the Lazizi Group to introduce two luxury tented safari camps: The Ritz-Carlton, Masai Mara Safari Camp and the JW Marriott Mount Kenya Rhino Reserve Safari Camp. With 20 keys each, The Ritz-Carlton is set to open this August, while JW Marriott is anticipated to launch in early 2026. This follows Marriott’s recent opening of the JW Marriott Masai Mara Lodge in 2023, increasing their Kenyan portfolio to seven properties with over 1,100 rooms.
Hyatt has initiated a tender offer for Playa Hotels & Resorts, amid positive market response regarding the sale of Playa’s owned real estate portfolio. According to analyst Michael Bellisario of R.W. Baird, this development is encouraging, noting that early movement in the selling process is favorable. The tender offer is valid until April 25, with a total valuation set at $2.7 billion, contingent upon 80% of shares being tendered.
In Jamaica, the Palladium Hotel Group, in partnership with Grupo Empresas Matutes, has begun a $20 million expansion at the Grand Palladium Hotels & Resorts in Montego Bay. This project will add over 948 rooms across two current hotels: Grand Palladium Lady Hamilton Resort & Spa and Grand Palladium Jamaica Resort & Spa, enhancing the existing capacity of 1,049 rooms.
Apple Hospitality reported a RevPAR increase of 2.7% year-over-year for Q4 and 1.4% for the full year 2024, attributed to recovering business transient demand. The company experienced an ADR rise of 1.7% in Q4 and occupancy gains of 2.6%. They also engaged in real estate activity, acquiring two hotels and divesting six properties, which collectively added a gross sale gain of $19.7 million.
Hamilton Point Investments secured a loan modification for Hotel Indigo Detroit Downtown, facilitated by CooperWynnCapital. This adjustment supports HPI in maintaining its loan structure while alleviating historical financial covenants, contributing to the company’s operational stability and financial flexibility.
Tilman Fertitta has emerged as the principal shareholder of Wynn Resorts, owning approximately 12.6 million shares, surpassing the 10% ownership threshold. His investment positions him as the largest individual shareholder following a previous increase to a 9.9% stake last year, reflecting Fertitta’s growing influence in the gaming and hotel sector.
Canada’s hotel sector showed positive trends in January, with occupancy rising to 49.8% and ADR up by 2.7%, reaching CAD180.04. British Columbia led with a 52.9% occupancy rate year-over-year, while Vancouver recorded 60.7%. In contrast, Prince Edward Island reported the lowest occupancy at 28.5%, signaling disparities among provinces.
The Middle East’s hotel pipeline remains robust, led by Saudi Arabia and Egypt, showing a total of 619 projects and over 155,428 rooms in development. The data indicates a 2% year-on-year increase in projects and a 6% rise in rooms. Notably, luxury segment growth is evident with 179 projects planned, signifying strong market interest and investment.
Radisson Hotel Group has signed a new property agreement for the Era Hotel Bhubaneswar in India, set to open in the latter half of 2025. This development marks Radisson’s continued growth in the India market, underscoring their strategy to expand their global footprint in diverse regions.
Marriott’s expansion in Kenya reflects a strategic move into luxury safari tourism, while Hyatt’s tender offer for Playa signposts potential real estate developments in hospitality. The Palladium project in Jamaica enhances regional tourism capacity, and Apple Hospitality’s solid performance illustrates recovery in business travel. Other significant movements include Hamilton Point’s loan modification, Fertitta’s stake in Wynn, and strong hotel performance indicators across Canada and the Middle East, indicating overall growth within the sector.
Original Source: www.hotelinvestmenttoday.com
