Lodging Daily News

MIAMI—Driftwood Capital refinanced the Scottsdale McCormick Ranch, a resort property located in Scottsdale, Arizona. MetLife Investment Management, the institutional asset management business of MetLife, Inc., provided the refinancing loan totaling $115,000,000. Carlos Rodriguez Sr., chairman and CEO of Driftwood Capital, said, “Driftwood Capital and its affiliates are excited to replace the in-place debt with favorable terms as we near completion of the $40 million transformational renovation and revitalization of the Scottsdale McCormick Ranch Resort. We

WASHINGTON—U.S. hotel performance increased from the previous week, and year-over-year comparisons remained mixed, according to CoStar’s latest data through Oct. 14, 2023. U.S. Hotel Performance October 8-14, 2023 Percentage change from comparable week in 2022:Occupancy: 68.5 percent (down 2.3 percent)ADR: $164.25 (up 3.2 percent)RevPAR: $112.51 (up 0.8 percent) Among the Top 25 Markets, Oahu Island saw the largest year-over-year increases in occupancy (up 17.8 percent to 85.2 percent) and RevPAR (up 29.7 percent to $243.22).

AUSTIN, Texas and BANGKOK, Thailand—Minor Hotels upgraded 100 of its properties to Oracle OPERA Hospitality Cloud. By moving to the cloud, the hotel owner, manager, and operator will be able to unify guest profiles across its global properties. This will help Minor Hotels understand the preferences of its guests so it can engage and serve. The roll-out of OPERA Cloud Property Management (PMS) is starting with Minor Hotels’ flagship, the Anantara Siam Bangkok Hotel, Thailand.

NEWTON, Massachusetts—Sonesta International Hotels Corporation announced the grand openings of four new Sonesta Simply Suites locations: Sonesta Simply Suites Lafayette | 104-room hotel located in Louisiana. Sonesta Simply Suites Memphis | 72-room hotel located in Tennessee. Sonesta Simply Suites Stafford | 82-room hotel located in Texas. Sonesta Simply Suites Lansing | 122-room hotel located in Illinois. “The addition of four new Sonesta Simply Suites hotels in four new destinations underscores the demand for extended stay

ARLINGTON, Virginia—Knowland and Amadeus presented the metrics from the companies’ Hospitality Group and Business Performance Index. The third quarter of this year shows the top 25 U.S. markets have recovered 99.1 percent for group business compared to the same time in 2019. Group bookings are calculated using occupancy and average daily rate (ADR). The Index combines event data from Knowland with hotel booking data from Amadeus to give both individual and aggregate views of the