BOSTON—JLL’s Hotels & Hospitality Group announced that it arranged the $171 million sale of the Hilton Back Bay hotel, a 390-key hotel in Boston. JLL worked on behalf of the seller, Ashford Hospitality Trust, and procured the buyer, a joint venture between Certares and Belcourt Capital Partners. JLL also secured acquisition financing for the buyer. The full-service hotel features an on-site, 209-space parking garage, as well as a restaurant and bar, fitness center, and outdoor
This Week’s Comings & Goings
Category: Comings & Goings, People
Cvent announced the appointment of Andreas Heckmann as chief customer officer. In this role, Heckmann will lead Cvent’s global client services organization and spearhead initiatives that enhance Cvent’s customer experience and scale. Concord Hospitality welcomed Marsha Ray as executive vice president of operations. Ray brings over three decades of hospitality experience to the role. She has a background serving both Canadian and U.S. markets. Spire Hospitality welcomed Jessica Sherbert as director of sales for The
LONDON—IHG Hotels & Resorts continued the growth of its newest midscale conversion brand Garner hotels, now available across IHG’s Europe, Middle East, Asia & Africa (EMEAA) region. This marks a milestone towards Garner reaching its goal of more than 500 hotels in the next 10 years, and 1,000 hotels over the next 20 years. This follows IHG’s announcement at the International Hospitality Investment Forum (IHIF) in Berlin, of a long-term agreement with NOVUM Hospitality to
CoStar: U.S. Hotel Rooms Construction Grows Year Over Year
Category: Featured, Finance, Finance & Development, Market Reports
WASHINGTON—The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data. U.S. Hotel PipelineMarch 2024 Percentage change from March 2023In construction: 156,525 rooms (up 1.5 percent)Final planning: 263,316 rooms (up 9.8 percent)Planning: 324,522 rooms (up 39.5 percent) “While the number of rooms in construction has grown, that figure remains below what was seen prior to the pandemic,” said Isaac Collazo, STR’s
PARSIPPANY, New Jersey—Designed for businesses of all types and sizes, the Wyndham Business program manages companies’ travel needs with the all-new Wyndham Rewards Business, a B2B extension of Wyndham’s rewards program. Enrolled companies can earn points on qualified business stays while taking advantage of existing and new benefits including room discounts, direct billing, hands-on account support, and more. “Managing a business is complicated enough—managing employee travel shouldn’t be. Whether you’re a small startup or an
