Six Senses to Portugal. IHG has signed a management
agreement with VIC Properties to develop a 400-hectare Pinheirnho estate near
Lisbon, Portugal, for a 70-key hotel and 58 branded residences Six Senses resort
slated to open in 2028. The Six Senses Comporta will include 66 deluxe guest
rooms and larger suites in the wings of the central building. The three garden
villas and presidential villa bring the total number of hotel accommodations to
70. The 58 branded residences will range from two to five-bedroom villas and
apartments. IHG has nearly 100 luxury and lifestyle hotels open in Europe,
including eight Six Senses properties. The resort also joins 24 open IHG
properties in Portugal and a development pipeline of 13 hotels, including
Kimpton Atlântico Algarve which marks the brand’s debut in the country and
Kimpton Lisbon.
Partners Capital buys from RLJ. Houston-based Partners
Capital has acquired from RLJ Lodging Trust the 181-room Courtyard
by Marriott Atlanta Buckhead for $24.25 million. The Atlanta Business
Chronicle reports Partners Capital is building a portfolio of hotels in top
Sunbelt markets through its Hospitality Fund 1, which launched in June 2023.
The Buckhead Courtyard was its second acquisition, following the purchase of a
Hilton Garden Inn in Austin, Texas.
Access Point deals with AHIP. Access Point Financial has
provided $126 million in financing to Vancouver, Canada-based American Hotel
Income Properties REIT LP to refinance, renovate and upgrade a portfolio of 12
premium-branded, select-service hotels from Marriott, Hilton and IHG totaling
1,233 rooms across the U.S. The million commitment represents an average loan
balance of approximately $102,000 per-key and $10.5 million per-property.
Cutshall joins Vision. Vision Hospitality Group, Chattanooga,
Tennessee, named Mary Beth Cutshall chief growth officer. In her new
role, she will be responsible for helping expand the company’s current 40-plus property
portfolio of owned and operated hotels throughout the U.S. Most recently,
Cutshall was managing partner and founder of Amara Capital Group, a
consultancy/investment group focused on hospitality and multi-family real
estate properties throughout the U.S. and Europe. Prior to that, she held
multiple, corporate roles with Hospitality Ventures Management Group,
culminating in EVP and chief development officer. Additionally, she
was corporate director of business development for Hotel Equities and held
sales and marketing positions with Hotel Investors Trust and Marriott
International.
stayAPT deal. stayAPT Suites has signed a franchise
agreement with Capstone Stay, LLC, to develop five new properties using modular
construction. Capstone Stay will expand the apartment-style concept in
Rossford, Ohio; Evansville, Indiana; Gardner, Kansas; Wentzville, Missouri; and
Liberty, Missouri. The initial development efforts will focus on the Rossford
and Evansville locations. stayAPT Suites expects to have 40 hotels open by
April 2025.
Vacasa accepts offer. Vacation rental property management
company Vacas has accepted a revised proposal from Casago to purchase the
company for an increased price of $5.30 a share. Casago initially offered $5.02
a share in a deal announced in December. The Arizona-based company, which
was founded in 2001, manages nearly 5,000 properties in 72 cities in the United
States, Mexico, Costa Rica and the Caribbean, compared to Vacasa’s 38,000
properties. The news follows an increased offer made last week from
shareholder Davidson Kempner to $5.75 a share, up from $5.25 made in February.
Taj apartments for Ras Al Khaimah. India Hotels Co. Ltd. has
signed a deal with BNW Developments for 336 apartments at the Taj Wellington
Mews on Al Marjan Island, Ras Al-Khaimah, United Arab Emirates. The
greenfield project marks IHCL’s entry into Ras Al Khaimah with the launch of
its premier branded hotel apartments.