Kinseth Hospitality Companies’ Post

[NEWS] NexGen Hotels acquires Fairfield Inn & Suites in Fort Lauderdale NexGen Hotels has acquired the Fairfield Inn & Suites by Marriott in Fort Lauderdale Northwest. The 120-room hotel, located on the Colony Golf Course, will be managed by AD1 Global. Catering to both leisure and corporate travellers, the hotel offers rooms with modern amenities like a microwave, mini-refrigerator, Keurig coffeemaker, and a 55” flat-screen TV. Guests can enjoy an outdoor pool 🏊♂️, fitness centre 💪, and complimentary breakfast 🍽️. Chris Patel, president of NexGen Hotels, said the acquisition strengthens their portfolio in the Fort Lauderdale area, with the Fairfield Inn brand being a perfect fit. NexGen Hotels, founded in 2007, operates a diverse portfolio across Florida, California, and the Midwest. 🌴 Read the full article HERE > https://lnkd.in/gHdthay6 Reading time: < 1 minute #NexGenHotels #FairfieldInn #FortLauderdale #hotelacquisition #Marriott #AD1Global #hospitality

Ever changing and ever expanding definitely describes the Tampa Bay Area’s dynamic hospitality industry. And the local lodging scene is no exception. Among recent hotel renovations and upcoming openings are: - Seminole Hard Rock Hotel & Casino Tampa’s $65 million investment was designed to elevate the guest experience with the reopening of the Fresh Harvest Buffet, a new gaming area and renovated smoke-free hotel rooms. - SpringHill Suites by Marriott Tampa Downtown at 1105 North Tampa Street anticipates a spring opening. The new all-suite hotel will feature a rooftop pool, bar and restaurant. The eight-story hotel offers more than 160 guest rooms. #tampa #tampabay #visittampabay #hchma #hospitalityindustry #seminolehardrock #hotels #springhillsuites #marriott #tampadowntown #travel #casinos #allsuitehotels #hardrock

Targeting the Central Madison Hotel Market including the University of Madison according to Costar there are 31 hotels with approximately 4,200 rooms, representing about 40% of the area's total room inventory, characterized by larger average property sizes compared to national norms. Occupancy has rebounded to 62.8%, exceeding the market average of 59.1%, while the 12-month average RevPAR has been rising at 5.0% annually. Currently, a 55-room hotel is under construction, adding to the 460 rooms delivered in the past three years, although investor activity remains low with only three hotel transactions completed in the last three years. #hoteliers #commercialrealestate #realestateinvestment #milwaukee #hospitality #hoteliers #commercialrealestate #wisconsin #wisconsinrealestate #marcusmillichap #Costar #STR #HospitalityCRE #madison

Where’s the New York City Hotel Market? Apparently showing ongoing signs of recovery… 1 Hotel Central Park sold yesterday for just above $1 million per key. According to New York City sales records from 2023 and 2024, upper-end hotels (Mondrian, The William Vale, and 1 Hotel Central Park) are trading between $800K and $1 million per room. Mid-market properties (like Hampton Inn, Hilton Garden Inn, and Doubletree) ranged from $400K to $600K per room. Distressed sales (the Roger Smith, Row NYC) were around $200K per key. Is the landscape shifting? What are your thoughts? #NewYork #Hotel #Hospitality #RealEstate #PrivateEquity

According to the CoStar Hospitality Market Reports for Madison, WI; The Madison hotel market features 107 properties with about 11,000 rooms, averaging 104 rooms per hotel, above the national average. Occupancy has increased slightly to 59.0%, while the average daily rate (ADR) has decreased by 3.8% to $136, leading to a revenue growth decline of 4.4% compared to the national increase of 4.3%. In terms of revenue per available room (RevPar), the luxury segment has risen to $119, while the midscale and economy segment has dropped to $47, reflecting varying occupancy rates across different hotel subtypes. #hoteliers #commercialrealestate #realestateinvestment #milwaukee #hospitality #hoteliers #commercialrealestate #wisconsin #hospitalityexcellence #wisconsinrealestate

According to CoStar Hospitality Market Reports for Milwaukee. The Milwaukee hotel market consists of 193 properties with around 20,000 rooms, averaging 104 rooms per hotel, higher than the national average. Current occupancy is at 55.7%, down 3.6% from last year, with an average daily rate (ADR) of $135, a decrease of 3.9%, while revenue per available room (RevPar) has grown slightly by 1.8% to $75. Overall, the market is experiencing negative revenue growth of -2.6%, contrasting with the national growth of 4.3%, despite ongoing construction of 580 new rooms and a slight increase in the number of hotels over the past three years. #hoteliers #commercialrealestate #realestateinvestment #milwaukee #hospitality #hoteliers #commercialrealestate #wisconsin #hospitalityexcellence #wisconsinrealestate #marcusmillichap

Sonesta Hotels is strategically expanding the footprint of The James Hotel brand in South Florida with plans to introduce a new property in the heart of the 305, Downtown Miami, in 2028. This addition underscores the brand’s commitment to delivering sophisticated, design-forward hospitality in dynamic urban destinations, further enhancing its presence in the region. "The new 82-story supertall tower with Sonesta contributing key money will feature approximately 336 fully furnished and decorated residences with about 200 rooms going into a hotel leaseback program. The property will also have a spa, private cabanas with plunge pools and unobstructed views of Miami, snow and rain rooms, and restaurants that include the highest elevation luxury bar and restaurant in the Americas. The project will also have a four-story private club where members will have access to the James Hotel in South Beach." “The James brand is back and this project in Downtown Miami is leading the way. The lifestyle and luxury space is where the consumer is going."  https://lnkd.in/evFq5P2S #SONESTAHOTELS #LUXURYTRAVEL

Amsterdam-based operator The July Hotels, which rebranded from CityID last year, has announced the launch of The July London Victoria. Set to open next summer, the Group’s first UK aparthotel will be located a five-minute walk from Victoria underground and coach stations. It will comprise 114 rooms, plus two residential apartments (one two-bedroom, one three-bedroom). The aparthotel will also be home to an on-site seasonal restaurant open for breakfast, lunch, and dinner, plus a bar, with further details to be announced in early 2025. https://lnkd.in/eu7MTkSy #newopening #hotels #hospitality #londonhotels

Targeting the Madison Hotel Market for I-90/East going from Maple Bluff to Marshall including DeForest, Windsor, Cottage Grove, Stoughton, and Rockdale has around 3,600 rooms across 44 properties, comprises about a third of Madison's hotel inventory. Hotels here are smaller on average, with 83 rooms each, compared to the market-wide average of 104. The submarket's occupancy rate is 53.7%, below the market average of 59.1%. RevPAR has remained flat year-over-year, contrasting with a moderate increase in the overall market. Currently, about 340 rooms are under construction, marking the largest pipeline in over a decade, after a period of inventory decline due to more demolitions than new builds. Over the past year, there have been four hotel trades, slightly below the typical number #hoteliers #commercialrealestate #realestateinvestment #milwaukee #hospitality #hoteliers #commercialrealestate #wisconsin #wisconsinrealestate #marcusmillichap #Costar #STR #HospitalityCRE

Outdoor Structures for the Hospitality Industry Boost your guest experience and revenue with versatile outdoor spaces! In 2024, UK restaurants, hotels, Airbnb hosts, and holiday resorts are increasingly embracing outdoor structures to create additional dining and relaxation spaces, without the costs and delays of full extensions. From stylish pergolas to covered garden rooms, these spaces are perfect for: - Alfresco dining for restaurants and cafés - Relaxing outdoor lounges for hotels and holiday stays - Inviting garden spaces for Airbnb and B&B guests With the growing trend of guests seeking nature-inspired experiences, adding these structures not only enhances your offering but also increases capacity year-round, rain or shine. It’s an economical solution that pays dividends in guest satisfaction and revenue. Ready to elevate your outdoor space? Let’s create something exceptional together! #HospitalityIndustry #RestaurantOwners #OutdoorDining #AirbnbHosts #UKStaycations