Sandals Resorts International is looking to Wall Street to help finance as many as a dozen new Caribbean hotels as the luxury resort manager ditches its conservative strategy of building just one project per year and keeping debt right down. Read the Bloomberg story here
The 565-key Disney‘s Hotel New York, near Disneyland Paris, will be redesigned to incorporate the Marvel comic book universe. The property will be rebranded as Disney’s Hotel New York-The Art of Marvel. Read the Travel + Leisure online story here
The Hotel del Coronado in San Diego will be rebranded as a Hilton hotel under the brand’s Curio Collection — a group of unique, upscale properties. Originally the hotel was to be sold by Blackstone Group to China’s Anbang Insurance Co., but a Treasury Department committee was concerned about its proximity to the Coronado Naval Base. Read The San Diego Union-Tribune story here
The 44-key Hotel Beaux Arts in Miami is joining Marriott’s Autograph Collection, a group that has grown to more than 100 properties worldwide. Read the Miami Herald story here
Two of Canada’s largest real estate investment trusts, RioCan REIT and a unit of H&R REIT, are among the potential bidders for Sears Canada‘s assets now that the retailer has gotten the green light to entertain offers, two sources say. The REITs are currently looking at the leases but are also waiting to see how the company may be restructured before they make an offer, the sources say. Read the Bloomberg story here
Ritz-Carlton, Six Senses, Singita and Hotel Terra Jackson Hole are among the luxury names that are increasing their focus on sustainability and reducing environmental impacts. Read the Skift story here
New construction starts in June grew 4% from the previous month to a seasonally adjusted annual rate of $679.9 billion, according to Dodge Data & Analytics. Nonresidential building increased 13% in June, strengthening after two months of lackluster activity, and the nonbuilding construction sector rose 8% with the help of elevated activity for electric utilities.
Wyndham Hotel Group is advancing its presence in the midscale and Midwestern markets with its planned acquisition of the the AmericInn brand and its management company, Three Rivers Hospitality. The $170 million purchase from Northcott Hospitality brings Wyndham’s brand count to 20. Read the Business Travel News story here
Hotel developers are tapping multiple revenue options when planning developments in a bid to maximize economic value amid rising land costs. Commercial and retail space add to the value of developments. Read the NAREIT story here
Forty-one states added construction jobs between June 2016 and June 2017 amid continuing widespread demand for construction services, while 25 states and the District of Columbia added construction jobs between May and June, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said the smaller number of states adding workers in the latest month may indicate a shortage of qualified job seekers, rather than a slowdown in demand for construction.