Mint House Announces Expansion Into Washington, D.C
Mint House announced its expansion into Washington, D.C., with the grand opening of its newest property, and other hotel development news.
The DJIA jumped 404 points while the Nasdaq was up 194, the S&P 500 rose 49 points and the 10-year treasury yield was down .04 to 4.25%. Lodging stocks were modestly higher. The biggest mover in the group was INN, up 6% on the day.
InnVentures announced the completion of a total renovation of the Courtyard by Marriott Spokane Downtown Convention Center. The renovations include a refreshed exterior with a streamlined façade, enhanced lighting, and new landscaping; 149 fully renovated guestrooms; upgrades to the lobby and restaurant; and an expanded fitness center will open next month. The Courtyard by Marriott Spokane Downtown Convention Center is owned by BHG Hotels.
An iconic Madison, Wisconsin, hotel has transitioned into the Madison Marriott South. The hotel remains open and fully operational as it completes this exciting brand conversion. The property boasts 239 guestrooms and more than 16,000 square feet of versatile meeting space. Renovations are currently underway in the hotel's ballrooms, with guestroom enhancements scheduled to begin later this year. The hotel is owned by DeFoor Brothers LLC, and along with the neighboring Fairfield Inn & Suites Madison South, both operated by Legacy Ventures.
Fairfield Inn & Suites Marriott Calgary Downtown has completed an extensive renovation of its 124 guestrooms and public spaces. The new look includes an updated breakfast lounge and fitness center, as well as new furniture, lighting, wall vinyl, and carpet in the lobby. Every guest room has been updated. The hotel also offers a market, fitness center, and business center.
A new hotel and apartment building recently broke ground in Winooski, Vermont. This will be Marriott's first all-electric, non-fossil fuel, net-zero hotel in the whole world. The facility will have three components: 115 rooms in the eight-story Marriott Sugar House Hotel, 83 units of middle-income housing units, and a three-story municipal parking garage. The hotel itself will feature a rooftop bar, restaurant, event space, a general store in the front of the building, and more. The developer, Doug Nedde, hopes the project will be done by next summer.
Host Hotels & Resorts and the Grand Hyatt Washington, located in Washington, D.C., announced the unveiling of the property's newly renovated 902 guestrooms, 31 re-imagined suites, and an expanded Grand Club lounge. The hotel boasts a 12-story atrium and 42,000 square feet of meeting space.
IHG Hotels & Resorts, in collaboration with owner Muncie Hotels, LLC and management company Amerilodge Group, celebrated the opening of Holiday Inn Express & Suites Muncie, Indiana. The newly-built hotel features 505 guestrooms, 995 square feet of meeting space, a fitness center, and an indoor pool.
Bay Shores Peninsula Hotel, located in Newport Beach, California, is now accepting reservations beginning November 1. The long-standing Newport Beach gem has been thoughtfully re-imagined and includes 25 individually designed rooms and suites, two signature rooftop gathering spaces, and a lobby café.
Mint House announced its expansion into Washington, D.C., with the grand opening of its newest property, 1010 Vermont. The company's first property in the nation's capital is a former 11-story office building, transformed into a boutique apartment hotel with 8 units, a fitness center, a Grab-and-Go station, rentable meeting spaces, and a lounge with game tables and TVs. This will be Mint House's second opening this year, following the recent opening of The Dylin, located in Madison, Wisconsin, with further openings expected in 2025.
Construction walls have gone up in Disney's Grand Californian Hotel & Spa for the construction of a new concierge lounge, which is expected to open in 2026. The hotel is undergoing an extended refurbishment. Napa Rose is currently closed, Storyteller's Café was also closed for refurbishment, and the hotel also got new Disney California Adventure entrance gates, as part of a larger rollout of new park gates around the Disneyland Resort.
Kabani Hotel Group completed the leasehold interest sale of the Wyndham Garden Tallahassee Capitol, a 147-room property located in Tallahassee, Florida. The transaction closed at a sale price of $7,915,000. Kabani Hotel Group held an exclusive listing for the property.
Marriott International, Inc. announced a signed multi-unit agreement with Corporacion Polaris and Cardedeu to open four City Express by Marriott properties, marking the brand's debut in El Salvador. The signed projects are expected to further enhance Marriott's footprint in the country with the addition of 440 rooms. Located in the heart of San Salvador's historic center, City Centro by Marriott San Salvador is expected to convert by the end of this year. Expected to open in late 2026, City Express by Marriott Aeropuerto will connect San Salvador's metro area with the International Airport. Also set for 2026, City Express by Marriott Santa Elena will sit along the Pan-American Highway. By late 2027, City Express Plus by Marriott San Benito is set to open in the heart of the San Benito district.
Royalton Luxury Resorts, by Blue Diamond Resorts, has launched Royalton Vessence, a new adults-oriented brand that re-imagines the all-inclusive experience. The first to bring this vision to life will be Royalton Vessence Barbados, An Autograph Collection All-Inclusive Resorts - Adults Only, debuting in Summer 2026. Formerly introduced as Royalton CHIC Barbados, the adults-oriented, all-inclusive resort will also be the first in the region to introduce glow-lit pools, along with dedicated spaces for digital detox. The experience continues with Moddo by Royalton FIT, a holistic wellness program featuring yoga, breathwork, and expressive movement sessions led by expert coaches.
MGM Muthu Hotels is set to make its debut in Jamaica with the takeover of the Decameron Club Caribbean, Ramada All Inclusive, located in Runaway Bay, St. Ann. The new property, to be rebranded as the Grand Muthu Club Caribbean, is scheduled to open on August 1.
Personnel News
Mainsail Lodging & Development announced the promotion of two long-standing team members into key leadership positions. Brandon Marshall, who has served as Corporate Director of Sales for the past nine years, has been promoted to Vice President of Sales & Marketing. In his new role, Marshall will lead the development and execution of sales and marketing strategies for Mainsail's entire portfolio, focusing on maximizing revenue opportunities, cultivating top talent, and contributing to the feasibility and planning of further projects. Rhonda Mestler, formerly the Corporate Director of Revenue, has been elevated to Senior Director of Commercial Strategy. Mestler will oversee all revenue-generating functions across the company, including eCommerce, reservations, revenue management, and front-office operations.
Peachtree Group has promoted Jared Schlosser to head of originations for all commercial real estate and hotel lending, in addition to continuing his role as head of the firm's Commercial Property Assessed Clean Energy lending program.
Europe Highlights
IHG Hotels & Resorts announced the opening of Garner Hotel Edinburgh - Haymarket, a 195-room flagship hotel. This property opens in partnership with Palm Holdings, a virtual family-owned real estate and hospitality company.
Hilton has announced the opening of The Marcus Portrush, a new hotel under its Tapestry Collection brand, marking the brand's entry into Northern Ireland. The hotel is located in a restored Victorian building in Portrush and features 80 rooms, a restaurant, and cocktail bar. The Marcus Portrush was developed under a franchise agreement with Andras House Ltd. The building, which previously operated as a hotel and bakery, underwent an £11 million renovation.
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For existing borrowers, there will not be immediate changes, but between July 2026 and July 2028, the income-contingent repayment plans (ICR, PAYE, and SAVE) will be eliminated, and borrowers will have to migrate to a modified version of Income-Based Repayment (IBR). This changes will have a dramatic effect on both how families pay for college, as well as how they repay their existing student loan obligations. Changes For New Student Loan Borrowers For students who take out student loans after July 1, 2026, there are changes in both the student loan limits, and the repayment plan options available. While undergraduate borrowing limits remain the same, there will be new limits on Parent PLUS loans of $20,000 per year, per student, and $65,000 overall. Graduate students face the elimination of Grad PLUS Loans, which previously had no limit. Graduate students will have the current $20,500 annual limit, and a $100,000 lifetime, while professional students will have the $50,000 annual limit and $200,000 lifetime. For current graduate students, there is a three academic year grace period to use the current Grad PLUS Loans if you've already borrowed one before June 30, 2026. On the repayment side, new borrowers will only have access to two plans: a standard plan that provides level payments over a set period of time, and the new income-based Repayment Assistance Plan (RAP). The standard plan will based the repayment timeline on how much the student loan is: The RAP Plan bases your student loan payment on your adjusted gross income. Monthly payments start as low as $10, and rise to a maximum of 10% of your AGI if you make over $100,000 per year. Borrowers will receive a $50 monthly discount per each qualifying dependent. There are several benefits, including the fact that unpaid interest does not accrue, and if your loan payment does not put at least $50 towards your principal each month, you'll see your principal reduced by $50 automatically. And the balance will be forgiven after 360 qualifying payments (30 years). Changes For Existing Borrowers The new law would require the migration of existing income-driven repayment plan borrowers into a modified version of Income-Based Repayment. Between July 1, 2026 and June 30, 2028, the Secretary of Education is to eliminate Income-Contingent Repayment, Pay As You Earn (PAYE), and Saving on a Valuable Education (SAVE), along with any associated forbearance. The SAVE plan will likely end well before the 2028 deadline anyway. Borrowers in those plans would be forced into one of the available options. And if they don't make a selection, the would automatically move into IBR or RAP, depending on eligibility. Under the modified IBR plan, for loans issued before June 30, 2013, borrowers will pay 15% of discretionary income and be eligible for forgiveness after 25 years. For loans issued on or after July 1, 2014, borrowers will pay 10% of discretionary income, with forgiveness after 20 years. Discretionary income continues to be defined as income above 150% of the federal poverty level. Borrowers with qualifying payments made under PAYE, SAVE, or ICR prior to transitioning into RAP will be allowed to count those payments toward forgiveness under the new plan. Parent PLUS Loan Borrowers The updated Senate bill continues to exclude Parent PLUS Loan borrowers from affordable repayment plans. New Parent PLUS Loans made after July 1, 2026 will only be available to be repaid under the new Standard Plan. Existing Parent PLUS Loan borrowers have some pathways to continue to have access to income-driven repayment. If they consolidate their loan by June 30, 2026 and begin payment under ICR, they can migrate to the Amended IBR between July 1, 2026 and June 30, 2028. Parent PLUS Loan borrowers who have already consolidated or double-consolidated and are repaying on any income-driven plan will be able to migrate to the Amended IBR as well. Less Deferment And Forbearance Options Finally, the Senate bill removes two key deferment and forbearance options: economic hardships and unemployment deferments will end. The premise is that borrowers in financial difficulty should be steered towards RAP or IBR. There will be a discretionary forbearance offered, but it will be capped at nine months for every 24-month period. What Happens Going Forward The Senate is expected to vote on the bill this weekend, and then it will go back to the House of Representatives. Once the House votes on the bill, it will head to the President's desk. The goal is to have the bill signed into law before July 4. This bill will be a major change for student loan borrowers. Changing loan repayment for nearly all borrowers, while also limiting loans for those attending college. There will also be a lot of key deadlines that borrowers will need to know so they aren't left in a situation they cannot afford.
