2025/09/28 – 2025/10/12
Global
- CBRE Global Hotel Outlook: CBRE Hotels has revised its 2025 U.S. RevPAR growth forecast down to 0.1%, reflecting weaker occupancy and intensifying competition from alternative accommodations. For Europe, RevPAR is expected to grow 2–5%, while the Middle East is projected to remain strong, led by the United Arab Emirates. In the Asia-Pacific region, average annual supply growth between 2024 and 2028 is expected to stay limited at around 0.7%, with Japan, South Korea, Vietnam, and India driving performance.
Korea
- Hilton × Inspire Yeongjong: Hilton has signed a franchise partnership agreement for a 1,275-room hotel within the Inspire Entertainment Resort on Yeongjong Island, Incheon. The massive integrated resort features a 15,000-seat arena, indoor water park, MICE facilities, and a casino, positioning it to become Hilton’s largest property in the Asia-Pacific region.
APAC
- Hilton × Sun Group Vietnam Expansion: Hilton and Vietnam’s Sun Group have agreed to open five new hotels totaling about 1,800 rooms. The LXR Hotels & Resorts brand will debut in Da Nang with an 80-room luxury resort, while the Quang Ninh Onsen Resort is set to open in late 2025. In Phu Quoc, a large-scale mixed-use development will introduce three hotels with a total of 1,500 rooms before the 2027 APEC Summit.
- Radisson Expands Individuals Premier Collection: Radisson has signed an agreement to bring its Individuals Premier collection to the 138-room LIME Resorts Bohol in Panglao, Philippines. This marks the first Individuals Premier property in Southeast Asia and the wider Asia-Pacific region. The resort will feature lagoon suites, beachfront villas, and sky penthouses, with an opening planned for late 2025.
Americas
- Westin Grand Central Refinancing: Smith Hill Capital and Bain Capital have jointly provided a $216 million refinancing loan for the 774-room Westin Grand Central in Manhattan. JLL advised the borrower, Davidson Kempner Capital Management, and the funds will be used for capital expenditures.
- U.S. CMBS Delinquency Rises on Office Distress: In September 2025, the overall CMBS 60+ day delinquency rate rose 10 bps month-over-month to 3.1%. The office delinquency rate surged to 8.12%, up 42 bps, driven by large defaults such as the $180 million maturity default at 261 Fifth Avenue in New York City. Maturity defaults accounted for 51% of new delinquencies.
Europe
- Leonardo Hotels Accelerates European Expansion: Leonardo Hotels’ Partnership III Fund has been increased to €542 million, including a €159 million capital injection from Fattal Properties. The fund has already acquired 30 hotels across the Netherlands, France, Spain, Italy, Germany, Ireland, and the U.K. for a total of €740 million, and plans to complete renovations of about 1,000 rooms by the end of 2025.
- The Dubai Beach EDITION Development: Shamal Holding and Marriott have signed an agreement to develop The Dubai Beach EDITION Hotel & Residences, slated for completion in 2029. The project will include a 185-room hotel and 165 branded residences, marking the first EDITION-branded property in the United Arab Emirates.
