Marcus Hotels & Resorts, Hempel Real Estate and Robinson Park Close Acquisition of Loews Minneapolis Hotel

The 251-room property will be rebranded as The Lofton Hotel under the Tapestry Collection by Hilton flag; Marcus Hotels & Resorts to manage the property.

Marcus Hotels & Resorts, a nationally recognized owner and management company and division of The Marcus Corporation announced this week that it, Hempel Real Estate, and Robinson Park have closed on the acquisition of the Loews Minneapolis Hotel. The property will be managed by Marcus Hotels & Resorts, effective today, and will be rebranded immediately as The Lofton Hotel under the Tapestry Collection by Hilton flag, making it the first Tapestry Collection hotel in Minnesota. The terms of the transaction were not disclosed.

“Since 1993, Marcus Hotels & Resorts has been invested in elevating the travel and leisure experience in Minneapolis, a city we greatly admire and appreciate,” said Michael Evans, president of Marcus Hotels & Resorts. “The Lofton Hotel’s chic design, incredible location, and ample amenities create a welcoming destination for travellers visiting the Twin Cities and experiencing all they have to offer. With The Lofton Hotel now part of the Tapestry Collection by Hilton platform, we look forward to welcoming our new associates to the Marcus Hotels & Resorts family and providing our guests with the high-quality service and experience for which Hilton and we are known. We also look forward to playing an active part in the continued resurgence of the downtown business and social community.”

Hyatt Reports Fourth Quarter and Full Year 2023 Results

Record Total Fee Revenue Led to the Highest Cash Flow from Operations in Company History

Full Year System-Wide RevPAR Increased 17%

Hyatt Hotels Corporation last week reported fourth quarter and full year 2023 financial results. Highlights includes:

Net income was $26 million in the fourth quarter and $220 million for the full year of 2023, and exceeded the full year outlook for 2023. Adjusted net income was $68 million in the fourth quarter and $276 million for the full year of 2023.

Diluted EPS was $0.25 in the fourth quarter and $2.05 for the full year of 2023. Adjusted Diluted EPS was $0.64 in the fourth quarter and $2.56 for the full year of 2023.

Adjusted EBITDA was $241 million in the fourth quarter and $1,029 million for the full year of 2023, and exceeded the full year outlook range for 2023.

Adjusted EBITDA does not include Net Deferrals and Net Financed Contracts of $33 million1 in the fourth quarter or Net Deferrals and Net Financed Contracts of $158 million1 for the full year of 2023.

Comparable system-wide RevPAR increased 9.1% in the fourth quarter and 17.0% for the full year of 2023, compared to the same periods in 2022, and exceeded the full year outlook for 2023.

Comparable owned and leased hotels RevPAR increased 5.9% in the fourth quarter and 15.5% for the full year of 2023, compared to the same periods in 2022. Comparable owned and leased hotels operating margin was 26.2% in the fourth quarter and 25.4% for the full year of 2023.

Comparable Net Package RevPAR increased 11.3% in the fourth quarter and 15.3% for the full year of 2023 compared to the same periods in 2022.

Net Rooms Growth was 5.9% for the full year of 2023, in line with the full year outlook for 2023.

Pipeline of executed management or franchise contracts was approximately 127,000 rooms.

Share Repurchases were approximately 890 thousand Class A shares for $95 million in the fourth quarter and approximately 4.1 million Class A shares for $453 million for the full year of 2023.

Capital Returns to Shareholders were $500 million for the full year of 2023, inclusive of dividends and share repurchases, in line with the full year outlook for 2023.

1 Represents the sum of Net Deferrals and Net Financed Contracts. Refer to Apple Leisure Group Segment Statistics on schedule A-18 for additional details.

Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, "The fourth quarter marks the completion of a transformative year and demonstrates the progress towards our strategic vision and earnings evolution. RevPAR growth exceeded the high end of our guidance range and we had industry leading net rooms growth for the seventh consecutive year. This led to a record level of fees and the highest free cash flow in Hyatt's history. We returned $500 million to our shareholders and achieved an asset-light earnings mix of approximately 76% for the full year, a testament to the successful execution of our strategy."

Four Seasons Resort Mauritius at Anahita Retains the Forbes Travel Guide Five Star Rating for the Fifth Year in a Row

Situated along one of the island’s largest natural lagoons on the east coast, Four Seasons Resort Mauritius at Anahita features stunning scenery, fringed by azure blue waters and a natural coral reef. The stand-alone accommodation options - ranging from one-bedroom villas to multi-bedroom Private Retreats – along with a diverse range of dining and resort experiences make idyllic island vacations truly memorable.

Five Years, Five Stars

Recognising not just the Resort setting, but also the quintessential Four Seasons service, Forbes Travel Guide 2024 has once again awarded the Resort with Five Stars. The only global rating system for luxury hotels, restaurants, spas and ocean cruises, Forbes Travel Guide announced its Star Awards 2024, revealing that the Resort has been given Five Stars once again (the highest category). “The watermark that underlines any Four Seasons experience is our unrivalled attention to detail and an excellence in service and experiences,” says Martin Dell, General Manager. “We are incredibly proud and honoured to have retained the Forbes Travel Guide Five Star award: our focus is to make every experience personal and fulfilling – for our guests as well as our colleagues.”

Limitless Possibilities

Special access to two spectacular golf courses, one designed by Ernie Els and a signature course by Bernhard Langer on the adjacent Ile Aux Cerfs, make this a dream destination for golf enthusiasts. “With dramatic volcanic rock formations juxtaposed against the impossibly green tropical foliage, it can be hard to stay focused on the putting greens,” smiles Armelle Duval, Director of Rooms. Besides golf, the Resort offers a wide range of seaside activities, from kayaking and sailing to snorkelling out into the reef, and even fishing excursions into the deeper blue. The expansive property boasts seven dining options including the latest opening - the premium grill-house concept Upper Cut. “From exquisite pan-Asian flavours at Umi.Zaka to the rustic Italian fare at Acquapazza, our distinct concepts cater to all palates,” adds Duval.

Award Winning Relaxation

Recognized for its continued excellence, the Resort’s overwater Spa has been bestowed with Four Stars for its unique concept, combining local organic ingredients with sophisticated skincare products. “Impactful and innovative are our two mantras at the spa,” explains Joelle Jennepy, Senior Director of Spa. “We pride ourselves on curating experiences such that every individual gets a personalised holistic healing.”

Marriott Sanibel Harbour Resort & Spa Opens Fully Renovated Spa at Sanibel Harbour

More than a year after Hurricane Ian wreaked destruction on Ft. Myers and Sanibel Island, Florida, the Marriott Sanibel Harbour Resort & Spa is proud to announce the opening of the newly transformed Spa at Sanibel Harbour, the largest and most comprehensive spa in Southwest Florida.

The 40,000 square feet, full-service spa, salon and fitness complex features 28 treatment rooms, and comprehensive spa treatments, co-ed spa experiences, a private bridal suite, full-day spa experiences, new, luxurious results-oriented skin care product lines, a variety of wellness/fitness classes, and recreation components including eight new pickleball courts and three tennis courts with open play and instructed lessons and clinics.

Largest and Most Comprehensive Spa in Southwest Florida Completes Transformation

Bryanna Weldy, spa director, says, “We have been working diligently to redesign and rebuild our spa, which is an integral part of the Ft. Myers and Sanibel island wellness communities. We are excited to share all of the new offerings with residents through our membership program, and to visitors and resort guests.”

The ambiance is modern luxe and the design theme is inspired by the coast, including teak, grey blue and green color palette. The spaciousness of the spa provides the perfect location for events and spa day getaways and encourages guests to incorporate wellness into their lives through treatments, skin enhancing products, lounges, recreation, and wellness classes.

The Marriott Sanibel Harbour Resort & Spa has long been a destination wedding location, hosting up to 100 weddings a year. The Spa’s new bridal suite, which is attached to the spa, is perfect for pre or post wedding events, accommodating up to 10 guests.

The new Spa at Sanibel Harbour’s top to bottom renovation includes a grand entrance, mixed mosaic tile flooring, wall treatments, teak toned millwork throughout, spa boutique, salon with stations for hair, manicures and pedicures, heated treatment tables and equipment, men’s and women’s lounges and furnishings, and pools, whirlpools, steam rooms and saunas. A new Couple's Lounge was created for couples to begin their wellness journey prior to their services.

In addition to the spa, the wellness complex of the resort includes the following new or newly renovated amenities:

24-hour access to the 5,500 square-foot fitness center with extensive equipment selections, showering and changing facilities

2,000 square-foot fitness studio

Three Har-Tru clay tennis courts

Eight pickleball courts

Basketball court

Indoor co-ed pool

New Spa Bistro

Co-ed steam room

Spa boutique with new product lines including

Eminence Organics

Yonka Paris

Greyson

CauseMedic

Scentsational Soaps

Dazzle Dry

Knesko

L'Duex

Rad Roller

Local residents can enjoy six- or 12-month memberships which includes a 15 percent discount on spa services and spa retail; access to spa amenities without a treatment; space in members only exclusive clinics and recreation events; and membership pricing on wellness/fitness classes.

Resort Renovation:

Elegant Hotel Collection Launches

Elegant Hotel Collection has entered the luxury soft brand market, launching with 25 luxury hotels, and targeting 50 properties globally by summer 2024.

The independently-owned flag will expand on a curated, invitation-only basis, creating a luxury community where individual hotels receive tailored service.

Elegant identified a gap in the luxury market and is designed to reflect a renewed perspective on high-end travel. All Elegant properties have been selected to embody the five elements of the Elegant brand – Hospitality, Authenticity, Inclusivity, Innovation, and Sustainability – echoing the demands of today’s luxury travellers.

Elegant will take a dynamic approach to luxury distribution combining bespoke personalised service and global consumer and trade marketing. The group will operate on a commercial model biased toward results rather than high fixed fees to ensure a quantifiable return.

As part of an elite community of hoteliers, Elegant member hotels will have access to an array of benefits that equip them to thrive in the global competitive landscape utilising the latest technology to adapt to target demographic buying behaviour.

Catt McLeod, Vice President Brand Development, Elegant Hotel Collection said: “We are thrilled to be launching the Elegant Hotel Collection and raising the profile of these exceptional hotels.

“Elegant Hotel Collection offers a compelling alternative to traditional legacy brands, delivering a fresh, dynamic and comprehensive approach to luxury representation. The Elegant Hotel Collection is underpinned by a full suite of global partnerships and marketing solutions along with best-in-class technology.”

Founding members of Elegant Hotel Collection include some of the most highly awarded and regarded properties, featuring: Home House, London; Rosselli AX Privilege, Malta; the Exclusive Collection (Pennyhill Park, South Lodge, Lainston House, The Manor House, Royal Berkshire and Fanhams Hall), Sunborn Hotel Gibraltar; Paresa Resort Phuket, Thailand; La Sultana Oualidia, Morocco; Cresta Palace Hotel, St Moritz; and Stapleford Park