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1. Trinity sells JW Marriott Phoenix Desert Ridge for $865 million
Trinity Investments has sold the 950-key JW Marriott Phoenix Desert Ridge Resort & Spa for $865 million to Ryman Hospitality Properties, reports CoStar News' Stephanie Ricca. Trinity bought the hotel in 2019 for $602 million and completed a $100 million renovation of the property in 2023.
“This sale is a prime example of how Trinity’s proven value-add platform and successful repositionings continue to drive enhanced operational and financial performance through active asset management,” said Sean Hehir, managing partner, president and CEO of Trinity, in a news release. “We have transformed the property into a landmark destination for both business and leisure travelers, and are proud to be able to deliver strong returns for our investors."
2. Massachusetts governor to close hotel shelters this summer
Massachusetts Gov. Maura Healey plans to close all 32 hotel shelters this summer, moving up the schedule to have them closed by the end of the year, NBC Boston reports.
Massachusetts had 100 hotels as shelters in the summer of 2023, but it has been able to move families out of these hotels faster than expected due to reforms Healey implemented.
“When we took office, homeless families were being placed in hotel shelters across the state,” Healey said in a statement. “A hotel is no place to raise a family, and they are the least cost effective. That’s why we implemented reforms to lower caseloads and the cost of the shelter system. We also promised to close all hotel shelters by the end of the year. I’m pleased that we are ahead of schedule, with more families getting jobs and moving to stable housing.”
3. The historic Nantucket hotel and the bestselling author who loved it
The Nantucket Hotel & Resort was, for a few summers, a preferred writing spot for New York Times-bestselling author Elin Hilderbrand and had a fictionalized version of itself as the setting for one of her nearly 30 novels, reports CoStar News' Natalie Harms. The hotel opened in 1891 on Nantucket Island as The Pointe Breeze Hotel with 40 rooms.
Hilderbrand first visited Nantucket in the summer of 1993 and later moved to the island and raised a family there. When the Nantucket Hotel & Resort reopened in 2012 following a major renovation, Hilderbrand joined the hotel's club and wrote parts of her books from a lounge chair near the pool.
"Twenty-two years later, I thought, 'OK, I want to write another novel about a hotel,' because the tourism industry is so prevalent here in Nantucket. And I wanted to do one that wasn't on the beach, that was in town, that was a little more historic," Hilderbrand said about her book with a fictionalized version of the Nantucket Hotel & Resort.
4. UK and EU sign new defense, trade deal
The United Kingdom and the European Union have reached a new deal that will end some of its post-Brexit trade barriers and improve collaboration on defense, the New York Times reports. However, the final details on certain policies are not set in stone yet.
Within the trade and travel aspects of the deal, the agreement calls for European countries to allow British travelers to use electronic gates in Europe when crossing borders. It will also allow for the sale of some British meat products in the EU.
“It’s time to look forward, to move on from the stale old debates and political fights to focus on delivering common-sense, practical solutions which get the best for the British people," U.K. Prime Minister Keir Starmer said.
5. LA in need of visitors
The Los Angeles area is facing economic woes four months after wildfires in the Pacific Palisades, Malibu and Altadena as the rebuilding process is slow, businesses are reporting losses and tourism is down, reports SFGate. Hotels and restaurants are reporting lowered demand, and air travel into LAX airport is also down.
Tourism and travel organizations have focused marketing efforts on spreading the word that Los Angeles and its surrounding cities are still open for visitors, according to the article.
“It’s natural that after any sort of disaster, if you’re not in the area and seeing the day-to-day, you wouldn’t realize that 98% of Los Angeles is still open, with minimal exceptions,” Pacific Palisades native and local travel expert Gabe Saglie told the newspaper. “Those iconic landmarks, all of our great restaurants are still open.”