Vacatia | January 04, 2022
Vacatia Inc., a leading provider of innovative, customer-centric solutions for timeshare owners, property management and vacation rentals, has acquired Virginia Beach, Virginia-based VSA Resorts, a hospitality and vacation ownership company. With the addition of VSA's three resorts and association management business, Vacatia now manages 21 timeshare and 42 whole-ownership homeowners associations with 4,750 units and 50,000 owners.
"The addition of VSA Resorts to our nationwide network reflects Vacatia's dedication to providing owners and guests with high-quality, hassle-free vacations in the most in-demand destinations,We are committed to enhancing owner and guest experiences by delivering new benefits and expanding the customer base at our resorts across eight states."
-Caroline Shin, Vacatia's CEO and co-founder
VSA Resorts' properties include Ocean Key Resort, Atrium Resort and Ocean Sands Resort, all located in Virginia Beach. VSA also manages wholly owned condominium associations in the area. They employ nearly 100 people and have an owner base of more than 18,000.
"In considering this sale, we were impressed by Vacatia's new ideas for independent timeshare resorts, customer-centric perspective and highly capable management team,Our owners will be well served by Vacatia's ability to enhance their existing ownerships, and our team will have increased opportunities for advancement as part of a larger, fast-growing company."
-Lori Overholt, president of VSA.
As Vacatia-managed properties, VSA resorts will be featured on the Vacatia.com website and offered through third-party booking platforms. Owners at these resorts will be able to participate in OwnerPLUS, which easily enables travel to Vacatia's managed and affiliated resorts. In addition, these resorts will be available through VacatiaPLUS, Vacatia's innovative subscription-based membership model, which invites a new generation of travelers to independent timeshare resorts.
It has rapidly grown its property management services to 4,750 units in eight states. Management services are just one of the fresh solutions offered by Vacatia, which has 750 industry partners, including some of the largest timeshare companies, relying on it for rental and resale services. Their products drive owner engagement, improve cash flow, attract new members and even finance needed property renovations. Vacatia Partner Services (VPS) is the division of Vacatia that works with property management companies and independently managed associations across the country to help timeshare resorts to thrive in the modern era. To learn more about VPS's rental, resale, subscription membership products and property management services, and how they are reinventing the timeshare experience across discovery, booking, and stay, call (720) 449-6738 or visit vacatiapartnerservices.com.
Newmark | October 07, 2021
Newmark Group, Inc. announced the expansion of its Lodging Capital Markets Group with two new hires and the relocation of two Newmark professionals. With these moves, the Group has established three new locations in California, South Florida and Texas. The new hires include Nick Pappas, a Senior Managing Director based in Los Angeles and Parker Sherrill, a Director based in Dallas. Lawrence Wolfe, one of four co-heads of Newmark's Lodging Capital Markets Group, is relocating to Miami from New York City and Director Greg Morgan is relocating to Los Angeles from Washington, D.C.
With approximately $4.5 billion of hotel transactions currently under contract or in the market, this geographic expansion will further cement Newmark's Lodging Capital Markets Group as one of the leading platforms nationally. The company's recent transactions include arranging the sale of the Potomac Yards hotels in Washington, D.C.; the financing of the Edition West Hollywood and the recapitalization of the Graduate Hotel platform. The impressive collective career resume of Newmark's hospitality professionals includes more than $250 billion of transactions, including some of the most high-profile lodging deals ever completed, such as the sales of the Waldorf Astoria and Baccarat Hotel in New York, Miami Beach's Setai Hotel and Four Seasons Washington, D.C.; as well as the recapitalization of Kiawah Island Resort and the financing of the London West Hollywood. The Group focuses on all lodging and leisure capital markets transactions, including sales, joint ventures and financings.
"As 'drive-to' leisure destinations throughout the U.S. are already seeing increasingly strong demand, the hospitality industry's recovery is expected to be fueled by the return of group and corporate travel as well as international tourism in 2022. We are thrilled to announce the continued expansion of Newmark's lodging capital markets platform. We have always been active in the southeast and Texas and on the West Coast, and we believe those three regions will be among the most active markets in our business over the next several years."
said Adam Etra, Vice Chairman, Co-Founder and Co-Head of Newmark's Lodging Capital Markets Group.
Pappas joins Newmark from Canyon Partners and will team with Director Greg Morgan in the Los Angeles office. The two will focus on California, the Pacific Northwest and the Mountain Region. Sherrill, who joins Newmark from JLL (and previously HFF), will focus on Texas and the Southwest Region. Wolfe, who helped originally establish Newmark's lodging business with Etra, Mark Schoenholtz and Miles Spencer in 2018, will focus on Florida and the Southeast, while continuing to work on the platform's high-profile transactions throughout the country.
With new locations in California, South Florida and Texas, the Lodging Capital Markets Group will further entrench themselves in some of the highest-performing and most pandemic-resilient markets. Newmark's expansion covers four of the five markets with the highest year-to-date revenue per available room (RevPAR) – Miami, Tampa, San Diego and Los Angeles, according to STR. Additionally, the Pacific Region has had the highest RevPAR in the country over the past two years, according to STR. Economic fundamentals and demographics also continue to outpace those of other regions – eight of the top ten metropolitan regions with the largest increase in construction employment were in the Western U.S. or Florida, according to the Bureau of Labor Statistics and numerous cities throughout the West and Florida have some of the fastest growing populations.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.2 billion for the trailing twelve months ending June 30, 2021. Newmark's company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world.
DESTINATION AND TOURISM
Hyatt Hotels Corporation | January 25, 2022
Hyatt Hotels Corporation (NYSE: H) announced plans to accelerate its brand growth in the Americas region with a strong pipeline of expected hotel openings through 2023. Fueled by growing leisure travel demand, 45 hotels are expected to join Hyatt’s portfolio of brands, including Apple Leisure Group’s (ALG) AMRTM Collection brands, in 2022 and 2023 in key resort, all-inclusive and sought-after urban destinations. In addition, Hyatt has signed management and franchise agreements for hotels in 11 new markets and 19 existing markets across the Americas.
“Listening to our guests, World of Hyatt members, and customers has never been more important. As we continue in our recovery from the pandemic, we remain very intentional about where the Hyatt brand footprint grows to ensure we're present in markets that matter most to the leisure-focused traveler of today and tomorrow, Our pipeline of new properties signals that Hyatt is well poised to deliver against the demand for more leisure travel experiences in places like Cozumel, Panama City, Punta Cana, and South Beach, and priority urban destinations, including Denver, Montréal, Oakland, and Memphis, which will welcome the first Caption by Hyatt hotel.”
-Jim Chu, Hyatt’s executive vice president, global franchising and development.
Debuting New Hyatt Brands in New Markets
To continue driving brand awareness and World of Hyatt loyalty program growth, Hyatt expects to thoughtfully expand its brand footprint in the Americas through 2023 in 11 new markets with hotel openings under the Dreams, Hyatt Centric, Hyatt House, Hyatt Place, Hyatt Regency, The Unbound Collection by Hyatt, and Thompson Hotels brands. These new destinations will position Hyatt to capture leisure demand in the markets that matter most to guests, loyalty members, and customers. They include:
Dreams Karibana Cartagena Beach & Golf Resort (268 guestrooms) in Cartagena, Colombia
Hyatt Centric Ville-Marie Montréal (177 guestrooms) in Montréal, Québec
Hyatt Centric San Salvador (138 guestrooms) in Antiguo Cuscatlan, El Salvador
Hyatt House Monterrey Valle/San Pedro (91 guestrooms) in Monterrey, Mexico
Hyatt Place Gainesville Downtown (145 guestrooms) in Gainesville, Fla.
Hyatt Place Kent Narrows & Marina (120 guestrooms) in Grasonville, Md.
Hyatt Place Monterrey Valle (133 guestrooms) in Monterrey, Mexico
Hyatt Place Montréal Downtown (354 guestrooms) in Montréal, Québec
Hyatt Place Panama City Beach (224 guestrooms) in Panama City Beach, Fla.
Hyatt Place St. Augustine/Vilano Beach (120 guestrooms) in St. Augustine, Fla.
Hyatt Regency Mexico City Insurgentes (201 guestrooms) in Mexico City, Mexico
Numu (44 guestrooms), which will join The Unbound Collection by Hyatt, in San Miguel de Allende, Mexico
Dreams Estrella del Mar Mazatlan (350 guestrooms) in Mazatlan, Mexico
Expanding Access to Resorts and All-Inclusive Experiences
Leisure travel continues on an upward trajectory with a notable, strong desire for resort and all-inclusive experiences. The end of 2021 and early 2022 showed elevated demand for leisure travel with multiple resorts reaching record RevPAR levels within the United States. Further, with the recent acquisition of ALG, the combined company will offer one of the largest portfolios of luxury all-inclusive resorts in the world and luxury hotels in Mexico and the Caribbean. Through 2023, Hyatt plans to significantly expand its resort and all-inclusive portfolio, which includes the AMR Collection brands Secrets and Dreams, with expected openings across the Americas, including:
Banyan Cay Resort & Golf (190 guestrooms), which will join the Destination by Hyatt hotel portfolio, in West Palm Beach, Fla.
Dreams Cozumel Cape Resort & Spa (154 guestrooms) in Cozumel, Mexico
Hyatt House Lewes / Rehoboth Beach (105 guestrooms) in Lewes, Del.
Hyatt Place Virginia Beach/Oceanfront (140 guestrooms) in Virginia Beach, V.A.
Hyatt Regency Grand Reserve Puerto Rico expansion (93 guestrooms) in Rio Grande, Puerto Rico
Hyatt Zilara Riviera Maya (291 guestrooms) in Riviera Maya, Mexico
Secrets Impression Playa del Carmen (198 guestrooms) in Playa del Carmen, Mexico
Secrets Moxche Playa del Carmen (485 guestrooms) in Playa del Carmen, Mexico
Secrets Tulum Resort & Spa (300 guestrooms) in Tulum, Mexico
Rancho Pescadero (103 guestrooms), which will join The Unbound Collection by Hyatt portfolio, in El Pescadero, Mexico
Dreams Grand Island (600 guestrooms) in Cancún, Mexico
Park Hyatt Los Cabos Hotel and Residences (135 guestrooms) in Los Cabos, Mexico
Hyatt Place New Smyrna Beach (114 guestrooms) in New Smyrna Beach, Fla.
Secrets Baby Beach Aruba (600 guestrooms)
Thompson South Beach (150 guestrooms) in South Beach, Fla.
Growing in Urban Destinations
Late 2021 showed strengthening travel demand among urban leisure and drivable destinations. Kicking off 2022 and throughout 2023, Hyatt hotels are expected to open in sought-after city locales across the Americas, including the brand debut and opening of the first Caption by Hyatt hotel in Memphis. They include:
Thompson Austin (229 guestrooms) in Austin, Texas – opened in January 2022
tommie Austin (193 guestrooms), a JdV by Hyatt hotel, in Austin, Texas – opened in January 2022
Caption by Hyatt Beale St. Memphis (136 guestrooms) in Memphis, Tenn.
Hyatt Centric Congress Avenue Austin (246 guestrooms) in Austin, Texas
Hyatt Centric Santa Clara (220 guestrooms) in Santa Clara, Calif.
Hyatt House Sacramento Midtown (133 guestrooms) in Sacramento, Calif.
Hyatt Regency Salt Lake City (700 guestrooms) in Salt Lake City, Utah
Hyatt Regency San Francisco Downtown SOMA (686 guestrooms) in San Francisco – rebranding from Park Central San Francisco
A hotel (120 guestrooms) that will join the JdV by Hyatt portfolio in Middletown, R.I.
Thompson Denver (216 guestrooms) in Denver, Colo.
Hotel La Compañia, Casco Antiguo, Panama (88 guestrooms), which will join The Unbound Collection by Hyatt portfolio, in Panama City, Panama
Kissel Uptown Oakland (168 guestrooms), which will join The Unbound Collection by Hyatt portfolio, in Oakland, Calif.
A hotel (251 guestrooms) that will join the JdV by Hyatt portfolio in Anchorage, Ala.
Hyatt House Lansing/MSU (131 guestrooms) in Lansing, Mich.
Hyatt Place Toronto-Downtown/Jarvis Street (238 guestrooms) in Toronto, Ontario
Thompson Houston (172 guestrooms) in Houston, Texas
A hotel (64 guestrooms) that will join The Unbound Collection by Hyatt portfolio in Hollywood, Calif.
For more information about Hyatt hotels, please visit: www.hyatt.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2021, Hyatt’s portfolio included more than 1,000 hotel and all-inclusive properties in 69 countries across six continents, and the acquisition of Apple Leisure Group added 96 properties in 10 countries as of November 1, 2021. Hyatt’s offerings include the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, UrCove, and Hyatt Residence Club® brands, as well as resort and hotel brands under the AMR™ Collection, including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless® Resorts & Spas, Zoëtry® Wellness & Spa Resorts, Alua® Hotels & Resorts, and Sunscape® Resorts & Spas. Hyatt’s subsidiaries operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and the Trisept Solutions® travel technology platform. For more information, please visit www.hyatt.com.