Read the latest hotel industry news from around the Americas region.

Vici Properties will become full owner of the MGM Grand Las Vegas and Mandalay Bay Resort and Casino real estate through its acquisition of the remaining interest in the properties from Blackstone Real Estate Income Trust.

"Gaming real estate investment trust Vici currently holds 50.1% interest in the joint venture, which it shares with BREIT, that owns the MGM Grand Las Vegas and Mandalay Bay properties. Through this deal, Vici will acquire BREIT's 49.9% interest in the joint venture for a cash consideration of roughly $1.27 billion. It also will assume Blackstone's pro-rata share of existing property debt," reports Hotel News Now's Dana Miller.

Though there's been some improvements for hotels dealing with supply-chain hurdles, experts say it's possible the hotel industry won't see any sense of normalcy until early 2024.

Shahid Javed, executive vice president of procurement at Plano, Texas-based global third-party management company Aimbridge Hospitality, said the relationships his company built with certain suppliers is helping to minimize disruptions.

"When traditionally approved supplies aren't available, our suppliers have proposed suitable replacement items to keep hotels stocked with essentials," he said. "We then work with our brand partners to gain necessary approvals."

Texas-based real estate and alternative investment firm NewcrestImage closed on the purchase of a 45-hotel portfolio, totaling 3,300 rooms across 11 states, and includes 35 Marriott-branded properties, seven under Hilton brands and three with Choice brands. All properties will be managed by Aimbridge and HHM Hospitality.

“Each of these hotels represents a strong opportunity for generating revenue in the short term, as well as for building long-term asset value,” Mehul Patel, managing partner and CEO of NewcrestImage, said in a news release.

Demand for hotel rooms this holiday season in the U.S. isn't expected to be significantly more than in past years, reports HNN's Bryan Wroten, but it also shouldn't plummet.

Isaac Collazo, vice president of analytics at STR, predicts U.S. occupancy from Dec. 18 through Dec. 31 will decline by about a point compared to 2021 while average daily rate will increase 2%. Revenue per available room will be flat. STR is CoStar's hospitality analytics firm.

Collazo "expects occupancy to be down by less than a point compared to 2019 levels despite some gains in hotel demand, due to growth in the supply of hotel rooms," Wroten reports.

Hyatt Hotels Corp. is expanding its luxury portfolio of brands with the launch of luxury all-inclusive Secrets Impression Resorts & Spas, according to a company news release. The first resort to feature the new brand is Secrets Impression Moxché Playa del Carmen, which opened Dec. 1, 2022.

"This new concept focuses on the two most important aspects guests look for when booking their stay: service level and experiences, to ensure every moment is set to leave a lasting impression,” said Gonzalo del Peón, group president of AMResorts Americas & Global Commercial, said in the release.

• Caesars Entertainment opened the new Horseshoe Lake Charles after Caesars' former riverboat casino, Isle of Capri Lake Charles, was destroyed by Hurricane Laura in 2020.
• JLL's Hotels & Hospitality Group brokered the $55 million sale of a portfolio of six Hyatt Place hotels on behalf of commercial mortgage-backed securities special servicer Argentic Services Company. Georgia-based HKB Hotel Group was the buyer.
• IHG Hotels & Resorts promoted Michael Glover to chief financial officer and was awarded a seat on IHG's executive committee. He will start both roles March 20.
  
• Davidson Resorts selected JEMB Realty to operate the 343-room Wyndham Grand Clearwater in Clearwater Beach, Florida.
• The former Vista Collina at The Meritage, The Grand Reserve at The Meritage, has rebranded as The Grand Reserve at The Meritage and unveiled a new menu of luxury offerings.
• Marcus Hotels & Resorts promoted Danica Potier as director of sales for the company's Milwaukee market. She will manage the teams for Saint Kate — The Arts Hotel, The Pfister Hotel and Hilton Milwaukee City Center.
  
• Sage Hospitality Group appointed Colin Bennett as area director of sales and marketing. He will oversee The Maven Hotel at Dairy Block and The Rally Hotel at McGregor Square in downtown Denver.
  
• Omni Boston Hotel at the Seaport appointed Leon Bolivar to director of marketing.
  
• Courtyard by Marriott Mazatlán Beach Resort opened as the brand's first Courtyard in Mexico.
• Four Seasons Resort Nevis named Billy Cueto as general manager.
  

Return to the Hotel News Now homepage.