Will Trump Hotel Return to DC? As Donald Trump looks to make a political comeback, reports indicate that his Trump Organization is in preliminary talks to reacquire the lease rights to what used to be the Trump International Hotel in Washington, D.C. The hotel is now branded as the Waldorf Astoria Washington DC, but negotiations are underway to restore its prior identity. Trump sold the leasing rights for an impressive $375 million, roughly 18 months after his departure from the presidency post-2020 election, to CGI Merchant Group. However, recent developments show that CGI defaulted on the debt connected to this acquisition, prompting the lender, BDT & MSD Partners, to foreclose on the hotel. Currently, the bank has been overseeing hotel operations, marking an interesting chapter in this high-profile property’s history and Trump’s potential return to the spotlight.
$300M Refi for Omni Nashville In the world of hotel financing, Dallas-based TRT Holdings has successfully secured a $300 million refinancing deal for the Omni Nashville Hotel, which boasts a total of 800 keys. The fixed-rate, seven-year loan came through a U.S.-based insurance company, with JLL facilitating the transaction on behalf of the borrower. Opened in 2013, the Omni Nashville is notable for housing the largest ballroom in the area, a point of attraction for both business and leisure travelers looking to celebrate or convene in style.
First Hospitality Expands in Wisconsin Chicago’s First Hospitality is on the move, recently adding the iconic 334-key The Abbey Resort & Avani Spa on Lake Geneva in Wisconsin to its management portfolio. Originally opened in 1963, this resort has long been a staple of the community, offering guests two full-service dining options amidst its picturesque lakeside setting. This addition reinforces First Hospitality’s commitment to expanding its presence in premium markets across the Midwest.
New Leadership at Ace Hotel Ace Hotel has welcomed back Chris Penn as its new CEO, bringing a wealth of experience from the lifestyle sector back to the brand. Penn originally opened Ace Hotel London in 2013 and later founded the lifestyle brand Birch in 2020. Alongside him, Mostafa Abdella has been appointed as COO, with a strong finance background and managerial experience from his tenure as managing director of Ace Hotel London. Meriem Soliman also joins the executive team as Chief Brand Officer, a position that highlights her eight years of dedication to Ace, first as General Counsel and later as president. The leadership shake-up marks a significant investment in the brand’s future direction under Penn’s experienced vision.
AAHOA Aids Wildfire Victims In response to the devastating wildfires in California, the Asian American Hotel Owners Association (AAHOA) has initiated the Hope & Haven: California Wildfire Recovery Initiative. This campaign, powered by the AAHOA Charitable Foundation, seeks to garner resources for relief, focusing on donations of room nights and financial support for impacted communities. The hospitality sector’s pivotal role in crises is underscored by hotel owners offering temporary housing for wildfire victims and their families while also providing much-needed financial assistance to help in rebuilding efforts.
DOJ Challenges Amex, CWT Deal The Justice Department’s Antitrust Division has intervened in the proposed $579 million acquisition of CWT by American Express Global Business Travel (GBT), asserting that the merger would stifle competition within the business travel sector. The lawsuit claims that the two companies and their investors understood that their deal would harm competitive practices among multinational clients. Amex GBT responded with disappointment, rejecting the DOJ’s allegations and expressing confidence that the merger would provide substantial benefits to business travel customers and suppliers alike, arguing that the DOJ’s interpretation of competition is overly narrow.
CEO Transition at The Standard Hotels In the wake of Hyatt Hotels Corp’s recent acquisition of Standard International, Amber Asher has announced her decision to step down as CEO of The Standard Hotels. Asher’s tenure began in 2011, leading her to take pivotal leadership roles, culminating in her promotion to CEO in 2021. The acquisition, finalized for $355 million last October, marks a significant transition for Standard International, and the industry will be watching to see how new leadership shapes the brand moving forward.
Taylor Hospitality’s New adds in Kentucky Expanding its influence, Waynesboro, Virginia-based Taylor Hospitality has announced the addition of the Capital Plaza Hotel in Frankfort, Kentucky, to its management portfolio. This move showcases Taylor Hospitality’s commitment to growing its footprint in the hospitality landscape of the region.
Dalata Closes Sale Dublin-based Dalata Hotel Group, known for its Clayton and Maldron hotel chains, has recently completed the sale of the Clayton Whites Hotel in Wexford, Ireland, for €21 million to Neville Hotels. This sale aligns with the company’s strategic moves, as they have recently sold another property, the Maldron Hotel Wexford, further solidifying Dalata’s focus on optimizing its asset portfolio.