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RUP and HHG Secure $42 Million for Residence Inn at Gateway at Millbrae Station

San Francisco International Airport
SAN JOSE, Calif. — After seven months of negotiations, in the middle of a global pandemic where construction loan closings for hospitality have been scarce, the partnership of Republic Urban Properties (RUP) and Huntington Hospitality Group (HHG) have announced that they have secured and closed a $42 million loan from Western Alliance Bank. The loan amount will go towards...

Los Angeles Leads U.S. Hotel Construction Pipeline at the End of Q2

Los Angeles
PORTSMOUTH, N.H.— Lodging Econometrics (LE) this week reported the top five U.S. markets with the largest total hotel construction pipelines at the close of Q2 2020. Leading for the fourth consecutive quarter is Los Angeles (163 projects/27,415 rooms), followed by Dallas (158 projects/19,314 rooms), New York (151 projects/26,302 rooms), Atlanta (135 projects/18,634 rooms), and Houston (122 projects/12,486 rooms). Despite...

U.S. Hotel Pipeline Holds Steady in Q2 Despite COVID-19

hotel Construction Pipeline - October 2019
PORTSMOUTH, N.H. — Analysts at Lodging Econometrics (LE) reported today that at the close of Q2 2020, the U.S. hotel construction pipeline had 5,582 projects and 687,801 rooms—down just 1 percent by projects and rooms year-over-year (YOY). Despite some project cancelations, postponements, and delays, there has been minimal impact on the U.S. construction pipeline, according to LE. Contrary to...

Kerioth Corporation Tops Out Construction on Mississippi’s First AC Hotel by Marriott

AC Hotel by Marriott in Ridgeland, Mississippi
RIDGELAND, Miss. — Kerioth Corporation, headquartered in Ridgeland, Miss., recently announced the topping out construction milestone of Mississippi’s first AC Hotel by Marriott in Ridgeland’s The Township at Colony Park. The topping out signifies the completion of the building’s preliminary structural framework with the placement of its final steel beam. Upon completion, the hotel will have 132 rooms and suites...

LODGING On Demand — Episode 14: Building During a Pandemic

LODGING On Demand — Episode 14: Building During a Pandemic
Aakash Patel, Chief Development Officer of The Witness Group, and Larry Spelts, Partner and President of the Lodging & Lifestyle Adventures Division of The Indigo Road, join LODGING Editor Kate Hughes to discuss how hotels’ approach to renovation and construction has changed in light of COVID-19. Subscribe for more LODGING On Demand on YouTube or wherever you listen to podcasts...