San Francisco will become the first destination in the U.S. for one of Accor’s newest brands, the Handwritten Collection. Owned and operated by San Francisco-based Frame Ventures, Hotel Stratford is a European-style boutique property set against the backdrop of Union Square on the Powell Street cable car line. The property becomes Accor’s third hotel in San Francisco, joining the Fairmont properties atop Nob Hill and at Ghirardelli Square. “The arrival of the first Handwritten Collection hotel in the U.S. underpins our expansion strategy throughout the Americas; to introduce brands and hotels ..read more

Cronheim Hotel Capital (CHC) has secured a $41-million permanent loan on behalf of The Lam Group to refinance the existing debt on the 175-room Aloft New York Brooklyn. “It’s remarkable to witness New York City’s resurgence post-COVID, especially considering the sluggish start in ’21 and ’22,” said Beau Williams, senior managing director, CHC. “Over the past 12-18 months, both business and leisure travel have seen a dramatic improvement. Taking advantage of this revitalization, we secured highly favorable terms with a great bank.” The Aloft New York Brooklyn is located in downtown Brooklyn ne ..read more

U.S. hotels added 1,200 jobs to their payrolls in April, according to the latest government data that shows employment in the industry is still far from pre-pandemic levels. Total hotel employment stands at about 1.92 million, according to the Bureau of Labor Statistics. That’s 193,600 fewer workers in the industry than in February 2020, just before the pandemic hit. “Hotels are doing all they can to attract and retain workers, but the nationwide workforce shortage is preventing our industry from reaching its full potential,” said Kevin Carey, interim president/CEO, American Hotel & Lodgi ..read more

Hospitality Ventures Management Group (HVMG), an Atlanta-based third-party hotel operator and investor, has named Linda Philp SVP/CFO. In her role, she is responsible for the company’s accounting, financial reporting, tax, systems optimization/technology and risk management functions. “Linda brings with her a wealth of finance and accounting expertise that will not only provide support for our property-level general managers and directors of finance/controllers but will also serve as a valued strategic partner for our owners and investors,” said Robert Cole, CEO. “She is a big picture thinker ..read more

Lark Hotels has opened the Stilwell Hotel in Carmel-by-the-Sea, CA. The property features 42 guestrooms, as well as several custom fountains, including a 20-by-18-ft. living water wall. “Carmel-by-the-Sea has an innate charm and a warmth that we have always been drawn to,” said Lark Hotels CEO Peter Twachtman. “We’re proud of Stilwell Hotel’s embodiment of that warmth and hope locals and visitors feel the same embrace from this modern, luxurious interpretation of Carmel.” Every guestroom opens into the hotel’s natural surroundings and includes handmade olive oil bath amenities, flat-screen sm ..read more

InterContinental Hotels Group PLC (IHG), for the first quarter ended March 31, reported global RevPAR increased 2.6% compared to the same period last year, with the Americas down 0.3%, Europe, Middle East, Africa and Asia (EMEAA) up 8.9% and Greater China up 2.5%. “Global RevPAR in the first quarter of 2024 continued to grow, up 2.6%, reflecting the strength of our globally diverse footprint,” said Elie Maalouf, CEO, IHG Hotels & Resorts. “There was an impressive performance in EMEAA, which was up nearly 9%. The Americas, having already recovered very strongly, was broadly flat due to som ..read more

Walker & Dunlop Inc. (W&D) has arranged a $155-million refinancing deal for The Lexington Hotel, a historic landmark in Midtown Manhattan. Acting as the exclusive advisor to Lexington Hotel Owner LLC, a joint venture between MCR, Island Capital Group LLC and Three Wall Capital, Walker & Dunlop secured the financing through lender Hudson Bay Capital. Initially completed in 1929, The Lexington Hotel has undergone extensive renovations and conversions over the years, culminating in its transformation into a Marriott Autograph Collection hotel in 2013. The hotel was acquired by the sp ..read more

Driftwood Capital has acquired the Marriott Raleigh Durham Research Triangle Park, a 225-key, full-service, upper-upscale hotel located in North Carolina’s Research Triangle area. The company will carry out an extensive renovation project to enhance numerous features throughout the hotel. Franklin BSP Realty Trust originated a multimillion, two-year loan with three one-year extension options at a competitive interest rate. “The acquisition of Marriott Raleigh Durham Research Triangle Park marks a significant milestone for Driftwood Capital as we expand into one of the nation’s most dynamic ma ..read more

The 410-room, dual-branded Courtyard New Orleans Warehouse Arts District and SpringHill Suites New Orleans Warehouse Arts District, located near the Ernest N. Morial Convention Center/Arts and Warehouse District of the Central Business District, has been sold for $73 million. Robert J. Guidry, along with Guidry Land Partners and Orlando businessman David Bansmer, purchased the properties. The hotels were sold unencumbered by management and fee simple. InterMountain Management, which operates the buyers’ 19-story, 232-room Residence Inn on St. Charles Ave., has been selected as the new managem ..read more

Peachtree Group has promoted 15 executives to support its strategic business initiatives. “We are delighted to announce our latest promotions, recognizing these team members as senior leaders within our company,” said Greg Friedman, managing principal/CEO, Peachtree Group. “Investing internally in our people is key to our success, and their expertise, strong leadership, innovative thinking and commitment represent the best of our firm.” Team members promoted to assistant VP or above include: Investment team Kendall F. Burrus – assistant VP, debt asset management Nicholas G. Huddleston – VP ..read more