DRIFTWOOD ACQUIRES IN RESEARCH TRIANGLE MARKET: Driftwood Capital has acquired Marriott Raleigh Durham Research Triangle Park in Durham, N.C. The purchase price was not disclosed. The 225-key, full-service, upper-upscale hotel is located in North Carolina’s Research Triangle area. Franklin BSP Realty Trust originated a multi-million, two-year loan with three one-year extension options at an undisclosed interest rate. Driftwood will undertake a $9 million renovation of the hotel, which will see upgrades to guestrooms, implementing a central air system and new amenities such as an expanded fitness center and a club lounge. Built in 1988, the hotel is Driftwood’s third purchase in North Carolina and the second in the Research Triangle. Driftwood is developing the $410 million Westin Cocoa Beach project in Cocoa Beach, Fla. and the $267 million Opportunity Zone Riverside Wharf, which will be anchored by a Dream Hotel in Downtown Miami.
EDITION OPENS 20TH HOTEL: EDITION Hotels, part of Marriott International, has expanded its portfolio with the opening of its 20th hotel and debuting in Jeddah, Saudi Arabia. Marriott partnered with Yabu Pushelberg, collaborating under the leadership of Sela to open The Jeddah EDITION. Located on the Jeddah Corniche, a coastal resort area spanning 30 km along the Red Sea, the resort has been designed in partnership between EDITION and Yabu Pushelberg. Designed to resemble a superyacht, the resort sits atop the Saudi Arabian Grand Prix Circuit, adjacent to the Jeddah Yacht Club and Marina. The hotel features 52 rooms and 11 suites, including two penthouses, with views of the Red Sea or the F1 track. The resort includes a rooftop terrace with a pool, spa, gym, two lounges, a lobby bar and a signature restaurant.
ISHC YOUNG LEADER AWARD: The International Society of Hospitality Consultants (ISHC), in partnership with the International Hospitality Investment Forum (IHIF), has presented the ISHC Young Leader Award to Briana Swift, regional vice president of development- Northern Europe, Hyatt. Swift has more than 10 years of experience in hospitality. She has assisted in expanding Hyatt’s brands throughout DACH, the Nordics and Benelux. Swift joined Hyatt in 2017 and has previously worked at Starwood Hotels and Resorts in a position which supported their development strategy in Western Europe. ISHC and IHIF established the Young Leader Award in 2009 to recognize and celebrate young emerging leaders in the hospitality industry.
FIRST AVID, CANDLEWOOD SUITES DUAL-BRANDED HOTEL OPENS: IHG Hotels & Resorts has opened its first dual-branded avid hotels and Candlewood Suites property in North Platte, Neb., following the launch of the prototype in 2021. The hotel offers 123 rooms (57 avid rooms and 66 Candlewood Suites units) and offers amenities from both brands, such as a 24-hour market, complimentary hot breakfast, an outdoor gazebo grill and free laundry facilities. The property also features a pool and a fitness center. Owned by Nightcap Management, LLC., avid hotels and Candlewood Suites North Platte is the first of the 40 more in the dual-brand pairing’s pipeline. Other dual-branded hotels are scheduled to open this year in Fort Payne, Ala. and West Memphis, Ark. Roughly 30% of all avid hotels and 27% of all Candlewood Suites in the Americas pipeline will be adopting the new prototype, which will help avid hotels to triple its portfolio in the region and enabling Candlewood Suites to achieve over 520 open or pipeline properties in the Americas.
THE NEWMAN TO OPEN IN LONDON:Â The Newman is gearing up to open in London later this year. The hotel will be located in Fitzrovia, a former Bohemian quarter, and is the first and flagship property from Kinsfolk & Co., the London-based new hospitality operators. The hotel has been designed by Lind + Almond. The hotel will have 81 rooms, suites and apartments and feature a brasserie, bar and lounge, private event and dining rooms and a spa.