chatham lodging trust | March 10, 2022
Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, announced that the company has acquired the beachside 111-room Hilton Garden Inn Destin Miramar Beach, Fla., in an off-market transaction for $31 million, or approximately $279,000 per room. Recently opened in 2020, the hotel is within walking distance of the pristine white sands of the Gulf of Mexico. The hotel’s location in Miramar Beach is well situated in relation to the thriving Santa Rosa Beach and Destin markets. The acquisition should generate an estimated stabilized NOI yield of 8.0% to 8.5%.
“As discussed on our 2021 year-end conference call, we emerged from the pandemic with a stronger balance sheet, as well as the capacity to make accretive acquisitions in terms of both earnings and asset value This hotel will generate strong cash flow from the outset, represent our third youngest hotel and generate a 2022 RevPAR premium of approximately 50 percent over our current portfolio. Additionally, the hotel diversifies further Chatham’s portfolio by adding a predominantly leisure hotel and also expands our presence in the Sunbelt, which we believe will continue to benefit from population growth. In fact, three out of every four travelers to the Destin area come from the Sunbelt, and many of Destin’s feeder markets, such as Atlanta, Dallas, Nashville and Houston, are experiencing strong population growth.”
-Jeffrey H. Fisher, Chatham’s chief executive officer and president.
The Hilton Garden Inn Destin Miramar Beach is a high-quality hotel with rooms that include a microwave and small refrigerator, 27 of which are enhanced with Gulf-view balconies. The hotel also features an expansive public space that includes a state-of-the-art meeting room and/or event space with approximately 900 square feet, a modern fitness center and a gorgeous bar that uniquely offers over 60 different whiskies and other premium spirits.
Although the hotel will primarily serve leisure travelers, the property sits across the street from the Silver Sands Outlet stores and benefits from corporate demand. The Hilton Garden Inn also receives a strong amount of military demand related to Eglin Air Force Base, the country’s largest air force base and home to 38,000 personnel, as well Hurlburt Field, which employs 8,000 and is home to the Air Force Special Operations Command Center. We are excited to add this great hotel to our portfolio, and we will continue to recycle capital out of older assets into newer hotels with higher growth prospects, Fisher concluded.
Chatham funded the purchase using available cash and borrowings under its credit facility. The hotel will be managed by Island Hospitality Management, which is owned by Fisher.
About Chatham Lodging Trust
Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 43 hotels with 6,451 rooms/suites in 16 states and the District of Columbia. Additional information about Chatham may be found at chathamlodgingtrust.com.
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Anatomie | January 06, 2022
Anatomie, the European-made luxury travel athleisurewear brand, has continued to reach new heights amid a challenging retail landscape that has seen more downs than ups. The company revealed its continued growth was a result of several instrumental programs and strategies, including supply chain security, strategic manufacturing, and a focus on omni-channel distribution.
Founded in 2006 by business partners and husband and wife duo Kate and Shawn Boyer, Anatomie is a luxury athleisurewear company designed for the modern traveler. Anatomie initially launched to market with high-quality athleisurewear staples, and has since evolved into a luxury lifestyle brand with functional designs for men and women. The brand continues to innovate the athleisurewear market thanks to its strong leadership team, where Kate serves as CEO, Shawn as Creative Director, and Tom Dietrich as President and Chief Operating Officer, an apparel industry veteran who joined the company in 2017. Anatomie experienced many successes throughout 2021 and reported 70% year-over-year growth with projections to reach a $30M revenue by 2022. The brand continued to increase its offerings and expand into new categories, launching its first-ever men's capsule in 2021 to meet consumer demand and trademarking "proleisure," a term that refers to its durable essentials build to last.
As a result of its continued growth, Anatomie started its official board in 2017, which has taken on new members and executive hires whose vast knowledge and experience will further cement the company as a leader within luxury fashion, including Tom Dietrich, Chairman of the Board and COO of Anatomie, Sandra Kim-Suk, Chief Financial Officer at Engine No. 1, and J. David Scheiner, a former Macy's and Perry Ellis executive. Anatomie has cultivated a team of high-powered customers-turned-investors and established female entrepreneurs, including Jill Granoff, former CEO of Vince and Kenneth Cole, and Sheila Johnson, Co-Founder of Black Entertainment Network. Anatomie plans to spend a significant portion of their marketing dollars on affiliate programs, direct mail and direct to consumer social media campaigns in 2022 to continue its impressive expansion.
"When we started this company over 15 years ago, we wanted to create a brand that was synonymous with timeless luxury, quality and craftsmanship,The fastest growing sectors of the women's fashion industry are travel and activewear, and Anatomie is perfectly positioned to intersect both. We're thrilled to have delivered on our promise continued growing Anatomie's offerings during a pivotal year for the retail landscape."
-Kate Boyer, Co-Founder and CEO of Anatomie
With their aggressive marketing plans, Anatomie is poised to have another record-breaking year for 2022 with continued retail experiences, regional pop-up stores, hotel and resort specialty shops, and more. During a time where many consumers are in need of high-quality essentials, Anatomie continues to pioneer athleisurewear trends and remain at the forefront of innovation to create the ultimate wardrobe for the modern man and woman on the go.
For more information about Anatomie, visit anatomie.com and follow @Anatomiestyle on Facebook, Instagram and Twitter.
Founded in 2006 by wife and husband duo, Kate and Shawn Boyer, Anatomie is a European-made luxury travel leisurewear brand that combines high functionality with the finest materials, centered on a contemporary style, innovative features and unique designs for the modern adventurer. With extensive fashion and sportswear experience, Kate and Shawn originally created Anatomie for the athleisure market, but evolved over the years to meet the unique and demanding needs of the luxury traveler with functional fashion that can be worn anytime and anywhere, offering a whole new world of comfort & style.
Hyatt | January 21, 2022
announced that a Hyatt affiliate has entered into management agreements with Stratford City Hotels Limited, a wholly owned subsidiary of M&L Hospitality, for Hyatt Regency London Stratford and Hyatt House London Stratford. The 225-room Hyatt Regency London Stratford and the 127-room Hyatt House London Stratford are expected to open in Q2 2022 following an extensive refurbishment. Both hotels will be conveniently located within one of Europe’s largest urban shopping and entertainment complexes, Westfield Stratford City, and a short walk to Stratford Station.The addition of these two hotels will be another exciting step in growing Hyatt’s brand presence in the United Kingdom and in creating a network of hotels across the key commercial and leisure markets in the country,” said Felicity Black Roberts, vice president of development Europe, Hyatt. “We worked closely with M&L Hospitality to choose the right brands for the location and are pleased to be continuing our relationship with them following the successful openings of Hyatt Regency Manchester and Hyatt House Manchester in 2019.
Designed with productivity in mind, Hyatt Regency London Stratford will offer business and leisure travelers alike a stress-free and seamless environment to stay connected. Guests can enjoy 6,673 square feet (628 square meters) of meeting space, along with a spacious restaurant, bar and an open-air terrace. Hyatt House London Stratford will provide guests with modern, apartment-style suites with fully equipped kitchens and flexible workspaces, designed to make them feel at home, especially during extended stays.
The hotels are located close to Stratford Station, one of the UK’s busiest train stations, giving guests swift access to Central London in only seven minutes. Stratford International Station connects guests to St Pancras International Station and transfers to the Eurostar train, which provides services to Paris, Brussels, Rotterdam and Amsterdam.
The properties will also be easily accessible to Heathrow International Airport via the new Queen Elizabeth Crossrail line due to open mid 2022, which will offer services to Stratford in approximately 45 minutes. Furthermore, London City Airport is only 20 minutes from Stratford on the Docklands Light Railway, making it an ideal location for business and leisure guests.
Guests can enjoy easy access to local events at the nearby O2 and ExCel London convention center, home to many concerts, exhibitions, and corporate events. The burgeoning Stratford City is also fast becoming the most exciting cultural region in the UK with major new developments at Queen Elizabeth Park currently underway including the proposed new future home of BBC studios, along with the exciting new museum project, V&A East. Further, nearby universities include the new world-class East campus of the University College of London and the new College of Fashion.
“We are pleased to be able to continue our work with Hyatt in the United Kingdom, Our strategy focuses on identifying key gateway cities with strong economic growth. Stratford is experiencing a real boom and our plans to introduce these Hyatt House and Hyatt Regency hotels to London will capitalize on this.”
-Neil Maxwell, chief executive officer of M&L Hospitality
The announcement of Hyatt Regency London Stratford and Hyatt House London Stratford marks Hyatt’s continued growth in the UK market. The hotels will join M&L Hospitality’s existing Hyatt properties including Hyatt Regency Manchester and Hyatt House Manchester, Hyatt Place London Heathrow Airport. Other Hyatt properties in the UK include Hyatt Regency London – The Churchill, Hyatt Regency Birmingham, Great Scotland Yard Hotel, Andaz London Liverpool Street, Hyatt Place West London Hayes, Hyatt Centric Cambridge and Hyatt Place London City East.
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.
About M&L Hospitality
M&L Hospitality is a Singapore-based real estate investment platform with an international portfolio of best-in-class hotels. Since 2009 M&L Hospitality’s portfolio has grown to 20 hotel properties across the Asia-Pacific, UK and European regions. Its hotels are in prime, central locations in international gateway cities. They are operated by the most recognisable international brands, including Accor, Hilton, Hyatt, IHG and Radisson Hotel Group.
American Airlines | April 13, 2022
Travelers booking American Airlines flights on Expedia Group sites1 now have more options to customize their travel and choose elevated offers like Main Plus, following a renewed partnership between the two companies. The fare products are now available thanks to a direct connection through New Distribution Capability (NDC) technology, making all of American’s offers available to travelers on Expedia Group sites.The integration scales up the collaboration between American and Expedia Group, which is the airline’s largest third-party agency. The addition of North American points of sale builds upon several years of successful flight bookings thanks to an existing connection through NDC technology between the two companies on certain European points of sale. The collaboration will result in two of travel’s biggest players being able to offer travelers around the world more opportunities to customize their travel experience.
“We’re proud to expand on our strong relationship with Expedia Group to bring customers more choice, NDC technology creates opportunities for travelers to customize their travel experiences, including premium travel options. We’re eager to hear about their positive experiences made possible through this integration.”
-Neil Geurin, Managing Director of Commercial Partnerships for American Airlines
More options for travelers
Millions of travelers who shop and book flights on American with Expedia Group today will now enjoy more options to customize their travel with ease. Travelers are able to purchase elevated offers like Main Plus, which is exclusive to NDC and aa.com. The offer includes complimentary access to Main Cabin Extra, preferred seats, preferred boarding and a free checked bag in addition to the Main Cabin baggage allowance. In the future, the collaboration will also result in the ability to offer additional elevated offers and ancillary options such as carbon offsetting.
"We're excited to bring our travelers the best range of content possible via this NDC capability with American Airlines, Expedia Group is uniquely positioned to be able to offer this because of our scale, in order to better serve the end traveler. This move is a significant milestone in the industry's general adoption of NDC-enabled connections between suppliers and sellers, and we look forward to continuing to work with our travel partners to determine the best connectivity options.”
-Julie Kyse, Vice President of Global Air Partnerships for Expedia Group.
About American Airlines Group
To care for people on life’s journey. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL and the company’s stock is included in the S&P 500. Learn more about what’s happening at American by visiting news.aa.com and connect with American on Twitter @AmericanAir and at Facebook.com/AmericanAirlines.
About Expedia Group
Expedia Group, Inc. companies power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. Our organization is made up of four pillars: Expedia Services, focused on the group’s platform and technical strategy; Expedia Marketplace, centered on product and technology offerings across the organization; Expedia Brands, housing all our consumer brands; and Expedia for Business, consisting of business-to-business solutions and relationships throughout the travel ecosystem. The Expedia Group family of brands includes: Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, trivago®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group™ Media Solutions, CarRentals.com™, and Expedia Cruises™.