The demand for branded luxury residences is experiencing notable growth, driven by factors such as increasing wealth concentration, increasing mobility, and the rising demand and desire for luxury living experiences. Branded luxury residences are high-end private residential properties that are … Continue reading →
Netherlands-based premium economy hotel chain citizenM is slated to open a new 228-key location in DC’s Georgetown, according to Donohoe. The plans indicate that the new seven-story hotel at 3401 Water Street NW (aka 3401 K Street NW) will incorporate … Continue reading →
The rise in remote work, the resurgence of air travel, inflation-driven price-consciousness, government funding for infrastructure projects and higher labor costs for full-service hotels have contributed to an increase in demand for extended-stay hotels. In response, many of the major … Continue reading →
Minimum Energy Efficiency Standards (MEES) are regulations requiring a minimum energy efficiency standard to be met before properties in England and Wales can be leased or sold. The standards are measured by an energy performance certificate (EPC) rating. According to … Continue reading →
In November 2022, Reuters reported that The Trump Organization has partnered with Saudi developer Dar Al Arkan, to license the Trump Brand to a $4 billion project in Oman that includes a golf course, hotel and villas. Named AIDA, the … Continue reading →
Five proposals have been submitted by the December 20 deadline for the first-phase development of Richmond’s City Center Innovation District Project (“City Center”), according to Virginia Business. The project’s aims include, among others, the demolition of the Richmond Coliseum, the … Continue reading →
Inflation in Morocco is expected to reach 6.6 percent this year, according to Reuters. The Bank Al-Maghrib (“BAM”), Morocco’s central bank, raised its benchmark interest rate today by 50 basis points to 2.5 percent in an effort to control inflation, … Continue reading →
British multinational hospitality company IHG announced today that it is “in the process of ceasing all operations in Russia consistent with evolving UK, US and EU sanction regimes and the ongoing and increasing challenges of operating there.” The company had … Continue reading →
Miami-based CGI Merchant Group is in contract to acquire the 263-room luxury hotel lease for $375 million, according to The Wall Street Journal. In 2012, the U.S. government awarded a sixty-year lease (with two, twenty-year renewal options) of the Old … Continue reading →
According to a Reuters analysis of federal data, of the 378 metropolitan areas ranked by the change in their share of national employment from 2010 to 2017, 40 percent of the new jobs generated during that time (along with a … Continue reading →