Scholar opens extended stay hotel by Penn State
US: Scholar Hotel Group has opened a property in State College, Pennsylvania, a block from the Pennsylvania State University.
Marriott opens brace of California extended stay hotels
US: Marriott has opened a Residence Inn and a Springhill Suites in California, adding 212 units to its extended stay portfolio in the state.
Croydon aparthotel takes in coronavirus patients
UK: The Best Western Plus London Croydon Aparthotel in Thornton Heath has been accommodating coronavirus patients to ease pressure on a nearby hospital.
Landing nets $100m in funding for flexible living offerings
US: Landing, the company behind the first membership for flexible living, has announced that it has secured $100 million in new funding, made up of a $45 million Series B round led by Foundry Group with participation by Greycroft and Maveron, and a $55 million debt facility.
Cain provides £74 million development loan for Locke aparthotel at Canary Wharf
UK: Real estate investment firm Cain International has agreed to a £74 million development loan with Canary Wharf Group and edyn to finance the development of a 279-key Locke aparthotel in London.
Ascott signs second Qatar property
Qatar: Ascott has entered into an agreement with Al Majed Hotel Management for the Somerset Al Mansoura Doha, set to open in Qatar’s capital in Q4 2021.
Ascott Residence Trust secures green loan from DBS Bank
Singapore: Ascott Residence Trust (ART) has obtained a S$50 million five-year green loan from DBS Bank, making ART the first hospitality trust in Singapore to secure a green loan.
Aberdeen and room2 sign sale and leaseback deal for Southampton hometel
UK: room2 has completed the sale and leaseback of its flagship Southampton property, to a fund managed by Aberdeen Standard Investments (ASI), the UK’s largest active asset manager.
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