-By ArdorComm News Network
March 6, 2025
London-based Aprirose has sold the 30-key Karma Sanctum hotel in Soho to Madrid-based Tenigla for £22 million. The rock-and-roll-themed hotel, acquired by Aprirose in 2021, is part of the company’s evolving U.K. acquisition strategy.
Meanwhile, in Los Angeles, the Lum Hotel Los Angeles Stadium District is set for a transformation. The 179-key hotel, owned by San Francisco-based Chartres Lodging Group and managed by PM Hotel Group, will be rebranded as a Tapestry by Hilton property. Renovations are expected to be completed by late 2025.
Marriott International continues its rapid growth in Europe, the Middle East, and Africa (EMEA), securing a record-breaking 291 deals, adding over 34,000 rooms in 2024. The company expanded into three new markets—Luxembourg, Angola, and Senegal—bringing its EMEA pipeline to 596 properties with 104,731 rooms, a 10% increase from the previous year. Conversions accounted for 45% of new signings, highlighting Marriott’s strategic expansion.
Manchester City is also entering the hospitality space in collaboration with Radisson Hotel Group. The Premier League club will open The Medlock, a 401-key hotel adjacent to its stadium, by late 2026.
In the Philippines, SM Hotels and Convention Corp. (SMHCC), a unit of SM Prime Holdings Inc., reported double-digit occupancy growth amid rising travel and MICE (Meetings, Incentives, Conferences, and Exhibitions) demand. The company is investing P15 billion in a five-year expansion plan, adding eight hotels and two convention centers in key locations.
Source: hotelinvestmenttoday