IHG Hotels & Resorts released full-year 2023 financial results. Information from the results includes: Trading and revenue Global RevPAR up 16.1 percent year-over-year (YoY) (Q4 up 7.6 percent); global RevPAR up 10.9 percent versus 2019 (Q4 up 12.7 percent) Americas FY RevPAR up 7.0 percent YoY (Q4 up 1.5 percent), EMEAA up 23.7 percent (Q4 up 7.0 percent), and Greater China up 71.7 percent (Q4 up 72.0 percent), reflecting the differing levels of travel restrictions
Noble House Promotes Darrell Stark to VP of Revenue Strategy and Sales
Category: Comings & Goings, People
Darrell Stark, Vice President of Revenue Strategy and Sales, Noble House Hotels & Resorts KIRKLAND, Washington—Noble House Hotels & Resorts announced the promotion of Darrell Stark to vice president of revenue strategy and sales. Stark brings over three decades of expertise to his new position. With a career encompassing roles in front office management, reservations, and hotel management, Stark has worked on Noble House’s Little Palm Island Resort and Spa, The Breakers Palm Beach, and
CBRE: Commercial Real Estate Lending Market Shows Stabilization
Category: Featured, Finance & Development, Market Reports
DALLAS, Texas—The commercial real estate lending market demonstrated signs of stabilization at the end of 2023, with borrowing costs appearing to have peaked, even as transaction activity remains subdued, according to the latest research from CBRE. The CBRE Lending Momentum Index, which tracks the pace of CBRE-originated commercial loan closings in the United States, increased by 1.0 percent from Q3 2023—marking the first quarterly increase since Q1 2022. The index still saw a decline of
Gold Coast Kitchen + Cocktails Opens at Miami Marriott Biscayne Bay
Category: Food and Beverage, Hotel Restaurants and Bars
MIAMI—Miami Marriott Biscayne Bay announced the launch of its new restaurant, Gold Coast Kitchen + Cocktails—a coastal cuisine concept with seasonal menu items; a citrus-forward menu of drinks; and a selection of white, rosé, and sparkling wines. Influenced by the flavors of Miami, the bayfront dining experience is led by Executive Chef Craig Tooker. Located alongside the waterfront on the ground floor of the hotel, the outlet has a contemporary interior and seasonal breakfast, lunch,
NEW YORK— JLL Capital Markets announced that it arranged $30.6 million in financing for the 122-key Hotel Granduca in Houston, Texas. JLL represented the borrower, Transwestern Hospitality Group, and secured the five-year, floating-rate loan from Prime Finance. The hotel has several amenities, including two dining options (Alba restaurant and Il Giardino), a bar and seating area, meeting rooms totaling 2,860 square feet, and event space spanning 2,050 square feet, which opens to the courtyard. Additionally, there is
