Breaking
\nnews about deals, development, data and more. <\/p>\n
Miyako
\nadding in Texas. Miyako Hotels & Resorts, a subsidiary of Japan-based Kintetsu Group
\nHoldings, is breaking ground on its third U.S. hotel and its first in Texas
\nwith the 256-key Miyako Hybrid Hotel Plano. The $117.5 million project will
\nrise on land once part of the former JCPenney corporate campus in Plano, Texas,
\nwhich Kintetsu acquired in 2019. The location is adjacent to the U.S.
\nheadquarters for Toyota Motor North America, which is also located in Plano in
\nthe city\u2019s burgeoning Legacy West development.<\/p>\n
Nobu adds
\nin Montenegro. Miami-based Nobu Hospitality is partnering with Sea Breeze Resort to open a
\nNobu Hotel, Restaurant, and Residences Montenegro. This development will
\nfeature an 80-key Nobu Hotel, 100 private residences, and five bespoke villas,
\nall centered around a signature Nobu restaurant.<\/p>\n
Big London refi. U.S.-based
\ninvestors and lenders King Street Capital Management and Cohort Capital have provided
\na \u00a3348 million senior loan facility to support the refinancing of the 271-key,
\nfreehold Park Tower Hotel in London\u2019s Knightsbridge district owned by Emirati businessman
\nMahdi Al Tajir. Funds managed by Apollo also participated in the financing of
\nthe loan previously provided by London-based Cale Street Partners. The
\ntransaction will support in optimizing and repositioning the 16-story landmark
\nasset and builds on King Street\u2019s existing partnership with the property\u2019s
\nlong-term owners. The business plan leverages the new lenders\u2019
\nexperience with integrated residential and retail components.<\/p>\n
Meli\u00e1\u2019s
\nfirst US branded residence. Palma de Mallorca, Spain-based Meli\u00e1 Hotels International is partnering with
\nMiami-based Urban Network Capital Group to make its Miami debut with 110-key
\nMeli\u00e1 Miami Brickell, which will be the company\u2019s first branded residences in
\nthe U.S. Meli\u00e1 has already implemented this concept at the ME Dubai and Gran
\nMeli\u00e1 Villa Le Corail in Vietnam, and is currently developing similar projects
\nin Seychelles and Budva, Montenegro. <\/p>\n
Swire
\nadds new brand. Hong
\nKong-based Swire Hotels has unveiled Upper House, a global brand that unites
\nits House Collective properties and signals a new phase of international
\ngrowth. The move also includes the brand\u2019s first branded residences project in
\nBangkok, Upper House Residences, which is set to debut in 2030. Building on the
\nsuccess of Upper House Hong Kong, existing Houses in Hong Kong, Chengdu and
\nShanghai will all be renamed Upper House. Future openings in Shenzhen, Xi\u2019an,
\nTokyo and Bangkok will follow this unified approach. Upper House will also
\nintroduce the brand\u2019s philosophy to residential living in Bangkok in 2030 with
\nUpper House Residences, marking a major brand expansion and the brand\u2019s debut
\nin Southeast Asia.<\/p>\n
US hotels
\nmixed last week. The
\nU.S. hotel industry from October 5-11 reported mixed year-over-year comparisons, according to CoStar data. Occupancy was 69.1%
\n(-1.9% YOY), ADR was $171.88 (+2.6% YOY), and RevPAR was $118.75 (+0.6% YOY). The Yom
\nKippur calendar shift had a positive impact on the latter half of the week.
\nAmong the top 25 markets, San Francisco reported the highest increases in
\noccupancy (+11.8% to 80.2%) and RevPAR (+24.7% to $183.88). The market\u2019s
\nperformance was helped by Fleet Week. New York City posted the largest lift in
\nADR (+11.9% to $441.34) and was the only market to see the metric exceed $400.
\nThe steepest RevPAR declines were recorded in Las Vegas (-21.3% to $178.82) and
\nNew Orleans (-18.7% to $120.47).<\/p>\n
Florida
\nhotel sells. Bethesda, Maryland-based Meridian Club LLC has sold the 67-key Hampton Inn St.
\nAugustine in Florida to Orlando-based QDI 5 LLC for $9.6 million, according to
\nthe Jacksonville Business Journal.<\/p>\n
Minor
\nadds in Australia. Bangkok-based
\nMinor Hotels is partnering with Toowoomba, Australia-based KPAT Hotels to open
\nits Avani brand hotel in Mooloolaba Beach, Queensland, Australia, in April
\n2026. KPAT is responsible for the development, ownership, and operation of the
\n12-story, 180-room hotel under a franchise agreement with Minor Hotels. Avani
\nMooloolaba Beach hotel will be the first internationally branded new-build
\nhotel on the Sunshine Coast in almost 40 years.<\/p>\n","protected":false},"excerpt":{"rendered":"Breaking news about deals, development, data and more. Miyako adding in Texas. Miyako Hotels & Resorts, a subsidiary…\n","protected":false},"author":2,"featured_media":6993,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[6890,6905,6893,6889,6902,6906,110,918,6891,6903,6895,6896,6901,6886,2277,242,3514,3869,6892,6900,463,6894,160,162,161,6887,6904,6899,6897,6898,6888],"class_list":["post-6992","post","type-post","status-publish","format-standard","has-post-thumbnail","category-plano","tag-asia-pacific","tag-asset-management","tag-brands","tag-caribbean","tag-condo-hotels","tag-deals","tag-development","tag-economy","tag-emea","tag-extended-stay","tag-franchising","tag-global","tag-independents","tag-insights","tag-latin-america","tag-lifestyle","tag-luxury","tag-management","tag-mergers-and-acquistions","tag-midscale","tag-north-america","tag-owners","tag-plano","tag-plano-headlines","tag-plano-news","tag-regions","tag-timeshare","tag-upper-midscale","tag-upper-upscale","tag-upscale","tag-whats-hot-trending"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/6992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=6992"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/6992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/6993"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=6992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=6992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=6992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}