From the desks of the Hotel News Now editorial staff:
- ESA sells 25 hotels to Three Wall Capital
- Starwood Capital buys seven-hotel Hilton portfolio for $188m
- Chinese investors look for more domestic deals
- Meet the UK’s first female president of The Golden Keys
- Former Starwood exec named CEO of Kerzner
ESA sells 25 hotels to Three Wall Capital: Extended Stay America announced today the company has completed the sale of 25 hotels to an affiliate of Three Wall Capital, according to a news release.
The portfolio of 25 hotels with 2,400 rooms are located in Ohio, Kentucky, Indiana and Texas. ESA will continue to manage the hotels over a 20-year contract. Three Wall Capital will build 15 additional ESA hotels in the next seven years.
During a call with HNN’s Dan Kubacki on Monday, Jim Alderman, EVP and chief asset merchant at ESA, said the deal “invigorates the strategy the strategy ESA unveiled at its Investor Day in June 2016.”
“We’re on track, and this really does help us,” Alderman said during that call. “This really kicks us off, and now we’ve built the muscle to be able to not just service our own properties and our guests, but we’ve added this other muscle. The entire focus of the building has been servicing the guests and performance of the properties; now it’s also third-party (owners).”
Starwood Capital buys seven-hotel Hilton portfolio for $188m: Starwood Capital Group announced a controlled affiliate of the company has acquired a portfolio of seven Hilton hotels in the United Kingdom for £135 million ($188 million) from real estate investment trust Park Hotels & Resorts, according to a news release.
The portfolio of approximately 1,300 rooms spans across top U.K. markets including London, Edinburgh, Bath and Belfast.
Kew Green will manage the hotels under franchise agreements with Hilton. Many of the assets will be refurbished by Starwood Capital Group, the release states.
Chinese investors look for more domestic deals: With the crackdown by Chinese authorities on where and what companies can invest in, more investors from China are looking at domestic deals rather than deals in the United States, The Investor reports.
Data from JLL shows that in 2017, “approximately $4 billion worth of deals changed hands in the domestic market, and the majority of buyers were local Chinese groups,” according to The Investor.
David Marriott of JLL’s Hotels & Hospitality team in China told the news outlet that regions in China are experiencing economic growth, and “the rise of the middle class will boost demand for travel.”
Meet the UK’s first female president of The Golden Keys: The new president of the Society of the Golden Keys of Great Britain and the Commonwealth, Madeleine Calon, is the first woman to fill this position, HNN’s Terence Baker writes, and she’s focused on the evolving role of the hotel concierge. Calon, a concierge for almost three decades, is head concierge at St. James’s Hotel & Club in London.
She said being accepted to The Golden Keys shows the experience, knowledge and ability of incoming members, as well as that of existing members who sponsored, nominated and elected new members.
“We have 386 members, mainly in 4- and 5-star hotels,” Calon said. “The caliber of the concierge is what is most important. The knowledge (of) our members has to be second to none. Being a member shows guests of their quality and the quality of their information, discretion and integrity.”
Former Starwood exec named CEO of Kerzner: Kerzner International Holdings, owner of Atlantis Resorts and Residences and One&Only Resorts, announced the company has appointed former Starwood Hotels & Resorts executive Michael P. Wale as its new CEO, according to a news release.
Wale worked with Starwood for almost 40 years, most recently serving as president for Europe, Africa and Middle East, where he oversaw operations for 250 hotels in 60 countries.
Compiled by Danielle Hess.