stayAPT Suites’ Post

- 💼 CL Hotels acquired Circa 39 Hotel in Miami Beach for $25.55 million. - 🏨 Circa 39 Hotel is an Art Deco-style building with 97 rooms located at 3900 and 3924 Collins Avenue. - 💰 The deal translates to approximately $263,400 per room. - 🔄 The property was sold by a joint venture between Black Salmon Capital and AMS Hospitality Group. - 🏢 Black Salmon shifted focus from hospitality to housing and industrial markets. - 🏗️ Originally built in 1939, Circa 39 Hotel will undergo a multimillion-dollar renovation by CL Hotels. - 🤝 CL Hotels entered a franchise agreement with IHG Hotels and Resorts to rebrand the property under IHG's Vignette Collection. - 🌆 Miami-Dade's hotel market ranked as the best-performing market in the U.S. with an 88.2 percent occupancy rate in February. RISE Realty #miamibeach #hospitality #realestate #realestateagent #realestatemarket

We're excited to share with you the case study for Blue Tang Inn, a Belize beach property that was struggling to increase its revenue, capitalize on upsell opportunities while remaining competitive in the market. After implementing ThinkReservations, Blue Tang Inn increased Q1 2023 revenue by 52% versus the same period on the previous year. 💯 You can read more about this case in the attached document, on Hotel Tech Report by following this link 👉 https://lnkd.in/eHRZhpQe or by checking the video version here 📹 https://lnkd.in/evmnKTKV #hospitalityindustry #propertymanagementsystem #hoteliers #revenuemanagement #yieldmanagement #growthstrategy

Firstly, Look forward to seeing everyone at the Hunter Conference next week! Feel free to text me, email me, or message me if you'd like to connect. Secondly, the below was just launched last week, one of my personal favorites in the great city of Atlanta! - Strong RevPAR - Growing Market - No Reno Needed - Long Term Franchise - Financeable - Managed by a third party operator, but offered un-encumbered of management. Scarcity Value - There just isn't a significant number of premium select service hotel inventory available for sale in the Atlanta MSA vs. the Demand (been the case for many years and more so the case post COVID), which improves your exit strategy as well when/if the time comes. Plus, why not invest in the area with the 2nd highest RevPAR and growing demand?

🚨 For the first time since June 2023, the volume of U.S. hotel rooms under construction grew YOY. According to CoStar’s data for March, the U.S. hotel pipeline showed positive YOY comparison. ▪️ Properties in Construction increased by +1.5% to 156,525 rooms. ▪️ Final Planning increased by +9.8% to 263,316 rooms. ▪️ Planning increased by +39.5% to 324,522 rooms. 📌 A closer look at the in-construction pipeline shows which type of hotel chains are leading in the number of rooms as a percentage of existing supply. 1. Luxury at 4.3% with 6,466 rooms 2. Upper Upscale at 2.8% with 19,766 rooms 3. Upscale at 4.0% with 35,912 rooms 4. Upper Midscale at 3.6% with 42,605 rooms 5. Midscale at 2.9% with 14,733 rooms 6. Economy at 1.2% with 7,946 rooms Read more here: https://bit.ly/3UmCmjI #TheHotelBroker

"West Palm Beach Airport Hotel Sells for $20.5M" Read the full article below..

A reduction in the UK's overall hotel bedroom supply spells opportunity for ambitious and affordable hotel chains like Premier Inn writes Jill Anderson, Whitbread acquisitions manager for the north, in Place North West. You can read the piece here - https://lnkd.in/eJyk5uGe. Based on Whitbread research, the number of hotel rooms in the UK has decreased from 715,000 in 2019 to around 680,000 today (ref Whitbread FY24 results). It's the smaller and less visible operators that have left the UK market ,and many will never return as hotels we believe. It's one of the driving forces underpinning Premier Inn's expansion across the UK. Currently we offer our guests a selection of 85,000+ Premier Inn and hub by Premier Inn rooms and have a long-term potential target of 125,000 UK rooms. But it's not just the obvious locations that are the focus for our growth, writes Jill reflecting on her area of focus in the north of England. Places with strong business economies and year-round leisure visitor demand are equally attractive as the globally recognised visitor destinations such as the Lake District National Park. Places like Lancaster, Carlisle, Lytham St Annes, and Grange-Over-Sands – all of which we are seeking to expand our offer into – as well as locations in Lancashire, Yorkshire, and Liverpool. In fact across the north of England we are currently searching for 24 new sites for Premier Inn as shown below. Each location represents a 25-30 year commitment for us, with a powerful package of local benefits standing behind our market leading brand. So dip into Jill's article to understand more about what's driving our continued expansion or reach out directly to her, or her retained agent Adam Mobley WSB Property Consultants LLP, here or via the details below for a conversation on where we hope to grow. #expansion #hotels #growing #development

One of Northern New South Wales most iconic pubs is set to change hands with The Argyle Hotel up for sale as regional demand for freehold hospitality assets continues to attract investors. The 130-year-old freehold property in Maclean was hailed as "The Handsomest Commercial Building In Maclean" and "The best finished Hotel North of Sydney” when it was built in 1894.  "With its rich history and modern amenities, this 1,004-square-meter freehold property represents an extraordinary investment opportunity for visionaries in the hospitality industry.  “This untapped potential is down to its strategic location, painstakingly restored heritage features, and dynamic design, which allows for the potential to expand its business offerings and drive revenue.  “It’s possible to build a microbrewery crafting local flavours, a boutique hotel redefining luxury, or a culinary haven leaving a lasting imprint.”   With an approved Development Application, The Argyle Hotel can be redesigned to allow a new buyer to shape the bar and restaurant areas while harnessing a natural synergy between heritage and modernity.  Other recent notable sales in the northern NSW region include The Pottsville Hotel and Arthur Laundy’s purchase of the Lennox Heads Hotel and the Illawong Hotel.  https://lnkd.in/gQyiQVzi

Turning Apartment Complexes into Boutique Hotels: A Lucrative Real Estate Strategy #shorts #bookdirect #directbooking #hotel #boutiquehotel #boutique #profit #profitable #traditional #modern #cashflow #business #hospitalityindustry #propertymanagement #rentalproperty #shorttermrental #hospitality #str #boostly #boostlyuk Mark Simpson 🚀

Do you want to know more about #ABS and how we can help your hotel make more unexpected revenue! Get in touch and I’ll tell you all about over coffee! #upselling #abs #revenue