Opened in 1999, Four Seasons Resort Punta Mita has 173 units. The hotel will continue to be managed by Toronto-based Four Seasons Hotels and Resorts, which is owned jointly by long-term shareholders Cascade Investment, Kingdom Holding Company and Triples Holdings.
Cascade is buying the asset from Strategic Hotels & Resorts, which has owned it since 2001. The transaction is anticipated to close in early 2014. The firm, which is the private investment arm of Bill Gates, acquired Four Seasons Hotel Houston in a transaction completed in October. In late November it acquired Four Seasons Hotel Atlanta.
Chief Executive Christopher Nassetta said Hilton is exploring plans for a boutique hotel, or "lifestyle" brand. "It's something we're working on," Nassetta said in an interview at the stock exchange after watching Hilton shares rise 7.5% to $21.50 on their first day of trading.
3 - Las Vegas Sands Corporation is no longer pursuing its previously proposed $30-billion development of a series of resorts in Madrid, the company said on Friday.
"We have reiterated time and again that our internal development process would dictate the outcome of a proposed development in Spain,” LV Sands Chairman and CEO Sheldon G. Adelson said in a news release. “That process has been extremely thorough and while the government and many others have worked diligently on this effort, we do not see a path in which the criteria needed to move forward with this large-scale development can be reached. As a result we will no longer be pursuing this opportunity."
The company is now turning its attention to the development of resorts in Asian countries.
“Developing integrated resorts in Europe has been a vision of mine for years, but there is a time and place for everything and right now our focus is on encouraging Asian countries, like Japan and Korea, to dramatically enhance their tourism offering through the development of integrated resorts there,” Adelson said.
4 - The pipeline onslaught continues. Today STR and STR Global, parent and sister companies of HNN, respectively, released the remaining November pipeline numbers from the global regions:
Caribbean/Mexico: The Caribbean/Mexico hotel development pipeline comprises 143 hotels totaling 24,083 rooms, according to the November 2013 STR Construction Pipeline Report.
Europe: The Europe hotel development pipeline comprises 813 hotels totaling 136,032 rooms, according to the November 2013 STR Global Construction Pipeline Report. Among the chain scale segments, the luxury segment experienced the largest year-over-year decline in number of rooms, falling 18.9% to 9,149 rooms. The midscale segment followed with a 12.9% decrease to 7,232 rooms.
Middle East/Africa: The Middle East/Africa hotel development pipeline comprises 490 hotels totaling 118,820 rooms, according to the November 2013 STR Global Construction Pipeline Report.
5 - The Baird/STR Hotel Stock Index reported a 2.1% increase to 3,049 in November. Year-to-date 2013, the Baird/STR Hotel Stock Index is up 24.6%. The index ended 2012 at 2,448.
The Baird/STR Hotel Stock Index outperformed the MSCI REIT (RMZ) (-5.5%) for the month of November.
“It’s been a fascinating run in terms of industry performance over the past three years, and the hotel stocks have been a big beneficiary of that growth,” said Randy Smith, co-founder and chairman of STR. “The dramatic rise in value of the Hotel Stock Index is in stride with the record demand the industry has experienced, which suggests that investors look at lodging as a great investment.”
Compiled by Patrick Mayock.