When these hotels open in the coming years, the luxury portfolio will reach more than 50 hotels across Asia Pacific.

Hilton grows luxury in Asia Pac: With the signing of Waldorf Astoria Xi’an, Waldorf Astoria Shanghai Qiantan, Waldorf Astoria Kuala Lumpur, Waldorf Astoria Sydney, Conrad Nagoya and an LXR Hotels & Resorts property in Bali, Hilton’s pipeline of luxury hotels in the region increases to 20. The financing also capitalized on constructing 40 for-sale residential villas. US$235M loan for Stanly Ranch: Newmark, on behalf of Mandrake Capital Partners and Nichols Partnership, has arranged the US$235 million financing of Stanly Ranch, Auberge Resorts Collection, a flagship luxury resort in Napa Valley, California, with 135 cottage-style suites. Jupiter Hotels will now refurbish the guest rooms and public areas. The property has an unexpired long leasehold term of 46 years. Jupiter Hotels grows in Scotland: Thai-based S Hotels and Resorts, owner of Jupiter Hotels, has completed the acquisition of the long leasehold on the 76-room Mercure Perth Hotel in Perth, Scotland, off a guide price of £2.25 million (US$2.62 million) from an undisclosed seller, according to Savills. Average price for a domestic hotel also increased 32% compared with 2019 and rose 6% compared to 2021 levels. The total number of nights booked on short-term rental platforms like Vrbo and Airbnb increased by more than 16% and touched 1.76 million nights this Labor Day weekend as against pre-COVID levels. As per Adobe Analytics, travel spending during the Labor Day holiday rose 17% compared with 2019 levels.

Domestic flight fares are slated to be 20% higher than in the same period in 20. As per travel booking app Hopper, the Labor Day weekend may be tied with Memorial Day weekend as the busiest travel weekend of summer with flight bookings expected to match the May holiday bookings, helping it to exceed travel volumes during the Fourth of July weekend. Travel demand across the country has stayed high for the last summer holiday weekend as many are trying to add in one more trip, despite increased airfares and ongoing disruptions to flights. for the Labor Day holiday weekend is likely to return to pre-pandemic figures and set new records in some cases, according to travel companies. Labor Day travel demand up: Travel demand in the U.S.

Mandrake capital partners