LEFT LANE’S NEW LIFESTYLE HOTEL, CLUBHOUSE BRAND: Left Lane will transform the Manger Building in Savannah, Ga. into a flagship hotel for its latest brand, Recess Hotel & Club. Slated to open in 2026, the building is located at Congress Street. Originally built as Hotel Savannah in 1912, the Manger Building was converted into The Manger Hotel in 1954 and later converted into an office building in 1977. Left Lane will restore the building into a 221-room (136 rooms, 23 suites and 62 bunk beds) lifestyle hotel and clubhouse. Left Lane will collaborate with Atelier Pond to design the interiors. The hotel will feature a communal space on every floor, a clubhouse, four F&B options, a spa, fitness center spanning 2,300 square feet, 5,500 square feet of co-working space and a 6,500-square-foot event space spread across two stories. The announcement of Recess Hotel & Club follows the launch of Hotel Bardo Savannah, the flagship property of the Bardo brand, in February.
THREE HILLS ACQUIRES STAKE IN LA BOTTEGA: Three Hills has invested €115 million ($124.5 million) in La Bottega, the Italian luxury amenities company, acquiring a stake from The Equity Club. Three Hills’s funding comprises a combination of preferred capital and equity. The Equity Club represents Italian business families brought together by Mediobanca Private Banking, who invested in La Bottega in May 2019. Additionally, a major global sovereign wealth fund and existing investor in Three Hills, has joined as co-investor. Established in 1981, La Bottega Group is a provider of premium luxury amenities for upscale hotels and operates brands, with clients such as Four Seasons, Ritz-Carlton and Mandarin Oriental.
CBRE OPTIMISTIC ABOUT REVPAR GROWTH: CBRE expects RevPAR to improve in the second half, following a weaker-than-anticipated first quarter. RevPAR will climb 2% this year, down from the 3% estimated in February. RevPAR is expected to rise 3% for the rest of this year, propelled by international tourists, holiday travel and limited supply growth. GDP will rise 2.3% and average inflation will grow 3.2%. CBRE is optimistic about RevPAR achieving a nominal record of $101.2 this year, representing 115% of levels from 2019. The outlook was based on projected ADR growth of 1.7% and 0.2% rise in occupancy. Increased financing and construction costs will result in slow supply growth in the medium term, CBRE said. For this year, supply growth will be just under 1%, with hotel supply expected to have a CAGR of 0.9% in the next three years.
MANDARIN ORIENTAL TO OPEN IN ROME: Mandarin Oriental Hotel Group is set to open a luxury hotel in Rome in 2026. Mandarin Oriental has partnered with Italian real estate investment and development company Merope Asset Management for Mandarin Oriental, Rome. The hotel will bring Mandarin Oriental’s portfolio in Italy to five, complementing its properties in Lake Como and Milan along with the recent announcements of Cortina and Porto Cervo. The hotel will be housed within 10 19th-century villas located between Via Piemonte and Via Sallustiana within The Gardens of Sallust, which originally served as homes for Romans. The villas can accommodate 108 rooms and suites with views of the gardens or the city’s landmarks. French designers Gilles & Boissier will lead the property’s interiors, with Dimorestudio designing the dining venues. The hotel will offer six restaurants and bars, a spa, fitness center as well as indoor and outdoor pools.
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