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1. Noble Investment Group acquires 51 Courtyard hotels
Noble Investment Group has bought 51 Courtyard by Marriott-branded hotels from Clarion Partners for an undisclosed price. The portfolio contains 7,528 rooms and spans 25 U.S. states, according to CoStar News Hotels’ Bryan Wroten, who added executives from Noble declined to comment on the deal at this time.
Clarion acquired the portfolio in 2005 when it had 65 hotels and partnered with real estate banking firm RobertDouglas in 2015 to refinance them with a $670 million, five-year, fixed-rate mortgage from Deutsche Bank. Five years later, these two partners secured a $684 million, five-year, fixed-rate, non-recourse senior mortgage for the then 52-hotel portfolio. Then in 2024 these 52 hotels were again refinanced with a $677 million five-year, fixed-rate, non-recourse loan. Between 2019 and 2024, the portfolio underwent a $250 million renovation.
2. Minor to enter Egypt with 50-hotel joint venture
Minor Hotels & Resorts and Hurghada-based Sunrise Resorts & Cruises have signed a long-term joint-venture agreement to convert, expand and develop 50 hotels over the next decade across Egypt, debuting the Thailand-based Minor Hotels in the country. The agreement also will see Minor operate Sunrise’s seven Nile River cruises.
The initial phase of the plan, in collaboration with Sunrise division Madaar Developments, will see Minor manage hotels and resorts that will include brownfield conversions, greenfield developments and the rebranding of existing Sunrise assets. As part of the deal, Minor Hotels’ flagship luxury brand, Anantara Hotels & Resorts, will be developed in several destinations across Egypt.
3. Choice Hotels to add 50 hotels in France to portfolio
Choice Hotels International plans to nearly double its presence in France with its announcement today that it will onboard 50 hotel properties with 4,800 rooms to its existing portfolio of 57 properties in the country.
"This European expansion builds upon our significant international rooms growth already achieved in Asia and the Americas this year," Pat Pacious, president and CEO at Choice Hotels, said in a news release. "By nearly doubling our footprint in France, we're not only reinforcing our commitment to expanding our direct franchise business but simultaneously enhancing our value proposition for guests and franchisees."
The hotels, which will all be under Choice's Quality Suites brand, will expand the brand to 30 new cities. Around a quarter of the new hotels will be in major urban hubs such as Marseille, Toulouse and Bordeaux, and about half in in midsize suburban cities such as Rennes, Chambery and Colmar. The rest will be in small tourist towns including Quiberon, Dinan and Mèze.
4. American Hotel & Lodging Association seeks clarity around US government shutdown
The American Hotel & Lodging Association has reacted to the current U.S. government shutdown — now in its third day — and the effects it could have on the U.S. hotel industry’s employees, the tourism sector and overall economy.
“We are urging Congress and the White House to come to a speedy agreement that reopens the government, restores services and provides the funding that supports the traveling public and the millions who work in travel-related professions,” the AHLA wrote in an open letter.
AHLA asked U.S. officials for clarity on what federal agencies and functions were deemed exempt from the shutdown, suggesting that air traffic controllers and Transportation Security Administration employees would be among those in this category.
The AHLA statement added that “we did see absenteeism rise among [these staff groups] toward the end of the 35-day shutdown in [2018-2019]. Those absences had a cascading effect on cancellations of flights and travel plans.”
The U.S. Travel Association has a rolling lost-travel-spend calculator due to the shutdown, which at press time was nearing $400 million.
5. Greek island Corfu asks prime minister to suspend new short-term rental properties
The Hotel Association of Corfu has sent a plea to the Greek Prime Minister Kyriakos Mitsotakis and Minister of Tourism Olga Kefalogianni requesting that the government suspend all new short-term rental permits on the popular tourism island, according to Tornos News.
The association said the number of available beds operated by short-term rental platforms is more than 70,000 on an island with only approximately 100,000 people. It added in its estimation Corfu has more than short-term rental accommodations options.
In a letter, the Hotel Association of Corfu said short-term-rental options have increased by 70% in the last five years, “bringing the island to levels of tourist saturation comparable to large areas of the country.” On the other side of Greece, islands such as Mykonos and Santorini have long suffered from overtourism, affecting the quality of life for residents. The organization added that rents for locals have increased by 40% in recent years, which it claims is a result of living space being now preferred for tourists.