Hospitality Real Estate Sector News

Recent industry report about Hospitality Real Estate Sector company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Hospitality Real Estate Sector industry experts.

Hospitality Real Estate Sector News

  • March 2022: OTO Development (fast-growing hotel development and hospitality management company) acquired Best Western Fort Walton Beach in the Florida Panhandle from Marcus & Millichap. OTO Development is a part of the Johnson Group, which develops, owns, and operates select-service hotels across the United States.
  • February 2022: Noble Investment Group entered a strategic partnership with Host Hotels & Resorts, Inc. (the largest lodging real estate investment trust). This partnership enables a USD 150 million capital commitment and provides Nobel with extended-stay hotel opportunities sourced through Host's channels
  • January 2022: The Georgetown Company (develops and invests in residential, commercial, and mixed-use properties) acquired the Hutton Hotel in Nashville. This is the company's first purchase through its USD 1 billion hospitality platform in partnership with the hotel management company First Hospitality.
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April 2023: Zolostays Limited, the largest provider of co-housing and student-housing services in India, has ventured into the luxury hotels segment. Zolostays has unveiled its first luxury hotel located in the Bellandur locality of Bengaluru, India. This locality is home to several prominent tech parks, including Embassy Tech Village (EMCZ), RMZ EcoWorld (Cessna Tech Park), and prominent companies such as Adobe Corporation, Myntra, LinkedIn, etc.

April 2022: Stanza Living established a business vertical for integrated facility management for colleges and corporates in India, with a planned investment of approximately INR 15 crore (USD 1799550) to expand the segment. Establishing a portfolio of hostel beds with an initial capacity of approximately 10,000, Stanza Living partnered with a variety of engineering and management institutions, such as JECRC, Presidency, and GM Institutes of Technology, to provide students returning after the COVID-19 pandemic with a top-notch, clean and technologically enabled campus experience.

  • November 2023: As the number of Saudis entering retirement grows, demand for senior living solutions is expected to expand strongly in the coming decade, necessitating policy adjustments from both the healthcare sector and the government.
  • August 2023: Fly Homes, a global student accommodation platform that assists Indian, Nigerian, and Nepalese students in obtaining higher education opportunities abroad, unveiled its student accommodation platform.
  • June 2023: University Living, a premier global student accommodation platform, unveiled, an AI-driven tool designed to assist students in locating accommodation that best meets their needs. The newly launched tool is designed to reduce the hassle of accommodation hunting by matching students' desired living quarters in a matter of minutes, providing them with a vast selection of available accommodations.
  • July 2023: Saran Singh Sound and Sehej Singh launched Scube Premium Student Housing distinguishes itself from the competition by providing student-specific luxury housing options that provide a stimulating and comfortable environment conducive to academic achievement and personal development while maintaining a familial atmosphere. The startup brings together the best elements of dorm life with a hint of Indian home comforts and hospitality through the provision of 24-hour onsite assistance.
  • June 2023: University Living, a premier global student accommodation platform, unveiled, an AI-driven tool designed to assist students in locating accommodation that best meets their needs. The newly launched tool is designed to reduce the hassle of accommodation hunting by matching students' desired living quarters in a matter of minutes, providing them with a vast selection of available accommodations.
  • May 2023: Rotana, one of the leading hotel management companies, has signed four 'Edge by Rotana' and one 'Rayhaan by Rotana' properties in partnership with Memar Development & Investment at the Future Hospitality Summit 2023. Rotana currently operates 73 hotels in the Middle East, Africa, Eastern Europe and Turkiye, serving more than six million guests per year, including 10,012 keys across 36 hotels in the UAE alone.
  • October 2022: ROSHN, the national real estate developer of the Kingdom of Saudi Arabia, and Esri, the world authority in location intelligence, signed a memorandum of understanding (MOU). ROSHN is supported by the PIF, the nation's Public Investment Fund. With the help of the partnership, ROSHN will be able to better design and create 200 million square meters of sustainable neighborhoods across Saudi Arabia by utilizing Esri's spectrum of geographic information system (GIS) products and solutions.
  • March 2023: In 72 hours, DLF sold a USD 1 billion luxury residential project, while its rival, Godrej Properties, is offering USD 3 million apartments to invite-only clients in two off-plan deals that signal a revival in luxury real estate.
  • February 2023: Oberoi Realty has acquired a penthouse in a high-end project called Three Sixty West, developed by Oberoi Realty in association with Sahana Group. The project is located on Dr. Annie Besant Road, in the heart of Mumbai’s poshest Worli locality. Oberoi Realty purchased a penthouse in Three Sixty West for INR 230,55 crore. (USD 278 Million )
  • May 2022: Leading luxury hospitality company Four Seasons Hotels and Resorts continues to expand its diverse offering of hotels, resorts and residences in the Middle East with the announcement of a new project in The Pearl-Qatar landmark development in Doha. The new property is in partnership with Q Bayraq Real Estate Investments, a specialized real estate investment development company focused on high-end projects in Qatar. 161 fully-furnished apartments will be available for short and long-term stays. In addition, 84 Private Residences will be available for purchase.
  • October 2022: Dar Al Arkan Global, the leading real estate company in Saudi Arabia, officially launched the sales of Les Vagues residences by ELIE SAAB in Qetaifan Island North, Qatar, in collaboration with Qetaifan Projects, a leading Qatari real estate development company. Les Vagues by ELIE SAAB, valued at QAR 1 billion, sets new standards of luxury living in Doha with an architectural design that enhances the appeal of seafront living. This premium residential project in Qatar includes one, two, and three-bedroom apartments with terraces offering uninterrupted views of the sea, the marina, and the Doha skyline.
  • Apr 2023: For seniors looking for innovative, high-quality care, Avista Senior Living is transitioning away from its SafelyYou partnership to empower safer, more personalized dementia care with real-time, AI video and remote clinical experts 24/7.
  • Feb 2023: Lee Equity Partners LLP (Lee Equity), a specialized investment firm advised by funds advised by the Lee Equity Group LLC (the 'Lee Equity Group'), entered into an investment agreement to form a strategic partnership with Integral Senior Living Management LLC (ISL) to form a senior living management company that will be the fifth-largest senior living operator in the US, with a nationwide presence and leading management capabilities.
  • October 2022: LPC West, the West Coast subsidiary of global real estate company Lincoln Property Company, has bought an approximately 135,000-square-foot industrial property in Poway, a community in northern San Diego County, in an off-market transaction with New York Life Investors. The building is specially equipped to support distribution and sophisticated manufacturing due to its position on the I-15 corridor with quick highway access to Los Angeles, Riverside, and Orange counties, as well as Mexico.
  • October 2022: Greystar and Origin Investments have started work on their USD 83.1 million joint venture community in Colorado Springs, Colorado. Elan Rio Grande, situated at 602 S. Wahsatch Ave., is a Class A complex with 207 apartments. This is the third Greystar-Origin project in Colorado Springs, and this property is being constructed alongside another property in the partnership's portfolio.
  • July 2022: MQDC, a leading property developer, and Thai Airways International Public Company Limited (THAI) formed a partnership to increase real estate and tourism and aid Thailand's economy in recovering from the COVID-19 pandemic. To the mutual advantage of all parties, MQDC and THAI will work together in the marketing sector across four sectors as they look for ways to help their present and prospective clients.
  • May 2022: Raimon Land Public Company Limited announced a strategic alliance with Nautilus Data Technologies, a US company, to enter the data center industry. Utilizing its patented TRUETM (Total Resource Usage Effectiveness) technology, Nautilus offers the world's most eco-friendly water-cooled data center infrastructure.

Hospitality Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)