Cendyn’s Post

Firstly, Look forward to seeing everyone at the Hunter Conference next week! Feel free to text me, email me, or message me if you'd like to connect. Secondly, the below was just launched last week, one of my personal favorites in the great city of Atlanta! - Strong RevPAR - Growing Market - No Reno Needed - Long Term Franchise - Financeable - Managed by a third party operator, but offered un-encumbered of management. Scarcity Value - There just isn't a significant number of premium select service hotel inventory available for sale in the Atlanta MSA vs. the Demand (been the case for many years and more so the case post COVID), which improves your exit strategy as well when/if the time comes. Plus, why not invest in the area with the 2nd highest RevPAR and growing demand?

In my journey from hospitality to real estate, I've discovered a profound connection between the two fields. The art of anticipating needs, once applied to hotel guests, now informs how we craft living spaces. I've learned that hospitality extends far beyond the walls of hotels and restaurants. It's about creating spaces where people feel truly at home. Hospitality taught me that exceeding expectations drives success. In real estate, we apply this by creating homes that enhance value and inspire loyalty. By anticipating needs, we craft desirable lifestyles, ensuring our business thrives through satisfied homeowners. #TuesdayThought #HospitalityIndustry #RealEstate #Uk #London

Host Hotels & Resorts has made a significant move by acquiring the stunning 1 Hotel Central Park from Starwood Capital Group for $233.8M, with the total sale price reaching $265M. This 18-story gem on Sixth Ave, opened by Barry Sternlicht's Starwood in 2015, has finally achieved its goal of selling for over $1M per room. NYC's hotel market continues to thrive, with average revenue per available room hitting an all-time high of $245.77 last year, 144% above the national average. In 2023, investors poured $3.3B into NYC hotels, the highest since 2016. This trend isn't just local; a CBRE survey reveals that most hotel investors nationwide plan to expand their portfolios this year. Host Hotels & Resorts is on a roll, adding the 1 Hotel and Embassy Suites in Nashville and the Turtle Bay Resort in Oahu to its impressive portfolio. This bullish approach reflects its confidence in the market's resilience and growth potential. These acquisitions demonstrate a strategic investment in prime locations, ensuring a diverse and robust portfolio. As New York City continues to attract millions of visitors annually, the demand for high-quality accommodations is only set to increase, providing lucrative opportunities for savvy investors. The hospitality sector's strong performance underscores the city's enduring appeal and economic vitality. It's a testament to the resilience and dynamism of the NYC real estate market, promising continued growth and exciting prospects for the future. Let's continue to watch our city soar with these dynamic developments! #NYCRealEstate #HotelInvestment #1HotelCentralPark #HostHotels #StarwoodCapital #RealEstateNews

Lesson learned: Soft branded hotels This property that we just sold was a well known independent property in the capitol of SD - Governors Inn Pierre. In 2022 the owner entered an agreement with Wyndham for a soft branding to Governors Inn a hotel by Travelodge. This decision translated into a 20% increase in revenue, year one. At the point of sale revenue increased by over 30%. The property ultimately sold, above list, to one of our long term clients who also happens to be on of the most active investors in this, seemingly, turbulent market. The unique part is that, this buyer had never heard of Pierre previously… After multiple conversations, tours, and the rapidly increasing revenue, the decision was easy. Feel free to reach out if you want to know more details or are interested in understanding HOW we get deals done in any market! #cre #hospitality #realestate

Recent analysis suggests that the expected closure of The Mirage and Tropicana Las Vegas hotels is expected to have a drastic effect on room rates within the Las Vegas Strip. According to John DeCree, who is CBRE’s director of equity research, the rooms being taken out of circulation will act as a catalyst for earnings growth among mid-tier properties along the Las Vegas Strip. On July 17 this year, Hard Rock International will close its doors for a significant renovation which is expected to last until the spring of 2027. This comes just after The Tropicana closed in April taking 1,467 more rooms out of the market. Both together take away almost five percent (4.9%) from what is available on the Las Vegas boulevard removing 4511 beds in total. Read the full story ➡ https://lnkd.in/dEwziHh9 #nevada #lasvegas #gambling #gamblingnews #hospitality #casino

Our New York City hotel experts Roland deMilleret, MAI and Patricia Shih discuss the recent and upcoming factors affecting the hotel market in Manhattan in this informative article. Click below for all the details! #manhattan #nyc #nychotels #hotelindustry #hotelconsulting

The writing is on the wall. Big brands to Independent to enhance and offset. It's been about a year since DiamondRock converted the Hilton Boston Downtown/Faneuil Hall into The Dagny, a 403-room independent lifestyle hotel. Donnelly said its success as an independent property means the company isn't looking at aligning its other independent hotels with a soft brand to weather a possible recession in the next year. "There's a lot of focus that people pay to the top line, but I look to The Dagny, that's one we went in the other direction and we exited a hotel system," he said. "And we said upfront that that's one where we can shed potentially 10% of top line revenue leaving the system but you will also gain back a significant amount of expense and that decision was really based on that." When asked by an analyst during the company's recent earnings call if there were any hotels in DiamondRock's portfolio that the REIT would consider selling, CEO Jeff Donnelly mentioned the 189-room Courtyard New York Manhattan Fifth Avenue, the 1,200-room Chicago Marriott Magnificent Mile and the 410-room Westin Washington, D.C. City Center. He said those three hotels have been considered "non-core" to DiamondRock's portfolio for a while. #hotels #hospitality #brandmakeover https://lnkd.in/eCCcMXqB

A reduction in the UK's overall hotel bedroom supply spells opportunity for ambitious and affordable hotel chains like Premier Inn writes Jill Anderson, Whitbread acquisitions manager for the north, in Place North West. You can read the piece here - https://lnkd.in/eJyk5uGe. Based on Whitbread research, the number of hotel rooms in the UK has decreased from 715,000 in 2019 to around 680,000 today (ref Whitbread FY24 results). It's the smaller and less visible operators that have left the UK market ,and many will never return as hotels we believe. It's one of the driving forces underpinning Premier Inn's expansion across the UK. Currently we offer our guests a selection of 85,000+ Premier Inn and hub by Premier Inn rooms and have a long-term potential target of 125,000 UK rooms. But it's not just the obvious locations that are the focus for our growth, writes Jill reflecting on her area of focus in the north of England. Places with strong business economies and year-round leisure visitor demand are equally attractive as the globally recognised visitor destinations such as the Lake District National Park. Places like Lancaster, Carlisle, Lytham St Annes, and Grange-Over-Sands – all of which we are seeking to expand our offer into – as well as locations in Lancashire, Yorkshire, and Liverpool. In fact across the north of England we are currently searching for 24 new sites for Premier Inn as shown below. Each location represents a 25-30 year commitment for us, with a powerful package of local benefits standing behind our market leading brand. So dip into Jill's article to understand more about what's driving our continued expansion or reach out directly to her, or her retained agent Adam Mobley WSB Property Consultants LLP, here or via the details below for a conversation on where we hope to grow. #expansion #hotels #growing #development

WHY YOU CAN'T MISS THIS EVENT What You’ll Learn: Emerging Trends in Beachfront Retail: Discover how consumer behaviors are shifting and what new trends are defining the future of retail in beachfront areas. Sustainable Retail Practices: Explore how sustainability and environmental concerns are influencing retail developments and operations along the beaches. Hospitality Innovations: Gain insights into how luxury hotels are adapting to changing guest preferences and setting new standards in service and amenities. Incorporating Local Culture: Learn how to integrate local culture and community to create unique guest experiences and memorable stays. Future of Beachfront Development: Examine the latest trends and challenges in developing Miami’s beachfront areas, with a focus on innovative projects and sustainable growth. Economic and Community Impacts: Assess the economic impacts of new developments and understand how they can benefit the local community and businesses. Resilience and Sustainability: Discover how development projects can contribute to the resilience and sustainability of Miami's coastal areas in the face of climate change. Collaboration and Regulation: Learn about the regulatory landscape, challenges and opportunities for collaboration between public and private sectors to drive successful developments. Why You Should Attend: The Future of Miami Beaches event is essential as Miami's coastal areas undergo rapid transformation due to evolving market dynamics, technological advancements and environmental challenges. Retail in Miami has seen remarkable growth, with asking rents leading the nation and increasing by 11.6% year-over-year, driven by strong demand from luxury retailers and restaurants aiming to capitalize on Miami’s population boom. The hospitality sector is reimagining luxury experiences, integrating local culture and adapting to post-pandemic expectations to attract high-end clientele. Additionally, Miami’s development landscape faces critical challenges from climate change, necessitating innovative, resilient and sustainable development strategies. This event will provide attendees with the latest insights, strategies, and networking opportunities to thrive in this dynamic environment. Who You Will Meet: Meet and network with industry leaders, including top investors, developers, and government officials, as well as key players in the hospitality and retail sectors. Engage with professionals who are driving innovation and shaping the future of Miami's beachfront areas, providing valuable connections and insights for attendees’ businesses. Jordan Hinsch #MiamiBeach #Miami #resilience #climatechange #CRE #hurricane #stormsurge https://lnkd.in/esBDry7V

The next Byron Bay? The Sheraton luxury resort seems to think so. With an 18-story resort only 50m away from my client's site, serious #capitalgain is already well underway! We secured a high density 1,200sqm #development site, for $1.186M. The site was advertised for a few weeks, but when the Sheraton announced the project pre-approval on a Thursday, I drove up the next morning to triple-check the site and review that specific pocket. We bought it for my client that day! Link to Sheraton Site: https://lnkd.in/g6Mwf4eb #Seeksta (S.T.A) A = Amenities This site has an A-grade score in the Seeksta review metric. The level of amenities already there and what is about to come, is through the roof! Understanding the fundamentals behind genuine capital growth is key to savvy #investing. Don't fall for the scam of the next "#HotSpot". Every tom, dick and harry who bought just before covid made $$$, that doesn't mean they are now "HotSpot" experts. In the upcoming US election, with Trump nearly assassinated, Biden bailing, and whatever other world shenanigans are going on, a secure investment is vital. Understanding the land component scarcity of a quality property is essential in smart investing. Ask us at Seeksta how we can help you buy the most savvy #investmentproperties possible. Coupled with our unique #EquityEngineering, you are guaranteed to make money. Our clients will vouch for this, which is why they keep coming back for more. Reach out to us at www.seeksta.com #buyersagent #qld #queensland #buyersadvocate #Brisbane #herveybay