Vici
$1.16B sale-leaseback with Golden. New York City-based REIT Vici Properties has agreed to
acquire seven casino properties from Las Vegas-based Golden
Entertainment for $1.16 billion and to enter into a triple-net master
lease with a newly formed entity that will be owned and controlled by Blake L.
Sartini, current chairman and CEO of Golden. The entity will acquire Golden’s
operating business in connection with the closing of the transaction. Golden’s
portfolio includes: The Strat Hotel, Casino & Tower on the North Las Vegas
Strip; Arizona Charlie’s Decatur and Arizona Charlie’s Boulder in the Las Vegas locals market; Aquarius Casino Resort and Edgewater Casino Resort in Laughlin,
Nevada; and Pahrump Nugget Hotel & Casino and Lakeside RV Park & Casino
in Pahrump, Nevada. The Golden portfolio features more than 6,000 hotel rooms. The golden master lease will have an initial annual rent of $87
million, representing an acquisition cap rate of 7.5%, and an initial term of
30 years with four five-year tenant renewal options. Rent under the lease will
escalate annually by 2% beginning in the third lease year.
Auberge adds Houston. Houston-based Transwestern Development has secured a construction loan for an Auberge-branded hotel and residence in Houston. New York City-based
Madison Realty Capital originated the loan, which will be used for the
development of The Birdsall, a 34-story mixed-use tower featuring 44 luxury
private residences situated above a 105-room boutique, luxury hotel. AnAuberge-branded hotel in Dallas, The Knox, Auberge Resorts
Collection, a 140-key property, is scheduled to open in 2026.
Amarillo
hotel sells. An
affiliate of Austin, Texas-based Summit Hotel Properties has sold the
107-key Courtyard Amarillo Downtown in Amarillo, Texas, for an undisclosed
amount to Amarillo-based KAMP Hotels, marking the buyer’s first
Marriott-branded asset. Hunter Hotel Advisors facilitated the transaction.
Braemar
completes sale of SF asset. Dallas-based REIT Braemar Hotels & Resorts has completed the sale of
the 410-key The Clancy, in San Francisco, to an undisclosed buyer for $115
million. Along with the sale, the company reduced its debt by about $64.7
million. The company
kept roughly $43.7 million in net proceeds. As part of its third-quarter
earnings, Braemar reported a 1.4% year-over-year growth in comparable
RevPAR and a 15.1% increase in comparable hotel revenue. The luxury resort
portfolio showed strong performance with a 5.5% YOY increase in comparable
RevPAR and a 58% increase in comparable hotel EBITDA.
Hilton
adds Waldorf in Greece. Hilton is partnering with Abu Dhabi-based Royal Group Holding on the
121-key Waldorf Astoria Scarlet Bay. The property marks the luxury brand’s
first property in Greece, joining Waldorf Astoria Hotels & Resorts
properties in nearly 20 countries worldwide. The property, scheduled to open in
2029, is situated on the Peloponnese and will feature branded residences across
13 villas.
IHM adds
outdoor resort in Florida. West Palm Beach, Florida-based IHM Outdoors is expanding its outdoor
resort portfolio in Citra, Florida, with the Camp Margaritaville Orange Lake,
which is scheduled to open in spring 2026. The new destination will blend
Margaritaville’s escapism with the operational expertise of IHM Outdoors, the
outdoor and resort-focused division of Island Hospitality Management.
With this new property, IHM Outdoors continues to expand its footprint — now
spanning over 15 locations and four brands across six states.
New CEO
for Marriott Vacations. Orlando-based Marriott Vacations Worldwide (MVW) said its board has
appointed Matthew Avril, an independent director of MVW, as interim
president and CEO, effective immediately. This appointment follows John
Geller’s departure as president and CEO of MVW and as a director of the
company. The board has commenced a search for a permanent president and CEO.
Avril joined MVW’s board in March and has more than 30 years of experience in
the hospitality and vacation ownership industry, most recently serving as CEO
of Diamond Resorts International. He also worked for Vistana Signature
Experiences and Starwood Hotels & Resorts Worldwide. The board
and management believe the company’s shares are undervalued and MVW intends to
repurchase shares during the quarter under its remaining $347 million share repurchase program.
Naples
resort is undergoing renovations. The Naples Grande Beach Resort in Naples, Florida, is
undergoing a comprehensive renovation that will transform every aspect of the
destination, including fully redesigned guest rooms and suites, expanded dining
options, a revised lobby, spa, and upgraded event spaces, as well as refreshed
pool areas and more. The property, which initially opened in 1987, will
continue to welcome guests as usual until the renovation begins on April 1,
2026.
TGE
acquiring Ritz in Perth. Paris-based The Generation Essentials Group (TGE), a subsidiary of AMTD
Digital Inc., has agreed to acquire a 209-key Ritz-Carlton Hotel in Perth,
Australia, from an undisclosed seller for an undisclosed amount. Closing of the
deal is subject to customary closing conditions.
APEC
pipeline growing. Hotel development pipeline across the Asia Pacific region, excluding China
(APEC), continued its growth trajectory through the third quarter of 2025,
according Lodging Econometrics data. At the close of Q3, the
total APEC hotel construction pipeline reached record highs of 2,262 projects
and 434,593 rooms, representing year-over-year increases of 9% and 6%,
respectively. At the close of the third quarter, hotel projects in the APEC
region currently under construction stood at 898 projects/199,865 rooms, up 6%
by projects and 1% by rooms YOY. Projects scheduled to start within the next 12
months stood at 374 projects/72,215 rooms at the end of Q3, up 6% by projects
and 12% by rooms YOY. Projects and rooms in the early planning stage hit record
highs, reaching 990 projects with 162,513 rooms, up 14% by projects and 9% by
rooms YOY. New project announcements in the third quarter totaled 226
projects with 42,405 rooms. Construction starts reached 102 projects/24,430
rooms.
Radisson
adds in India. Radisson Hotel Group is adding the 350-key Radisson Collection Hotel, Navi
Mumbai International Airport in Mumbai, India. The project is scheduled to open
in the first quarter of 2030. Radisson has over 200 hotels in operation or
development in India, with more than 50% of its portfolio located in Tier 2
cities across three markets.