Driftwood Hospitality adds to leadership team; Blackstone and Criterion Capital announce new deals; Hurtigruten Group gets sold and more....

Welcome to this week’s The Suite Talk Weekly! As we inch closer to the holiday season, leadership moves have slowed, reflecting the usual year-end hiring lull. However, the deal front remains active, with Blackstone and Criterion Capital acquiring key assets and Hurtigruten, the experiential cruise line, finding a new owner. Meanwhile, Rockbridge Capital marks an impressive milestone, celebrating 25 years in the industry. Dive into all the latest happenings shaping hospitality this week!

Leaders on the Move:

• Driftwood Hospitality Management with new COO and CSO. The management arm of Driftwood Capital has announced two major promotions to strengthen the leadership team. Bryan Postema , previously Managing Director, has been named COO, whilst Michael Diaz, former COO has stepped into a new roles as Chief Strategy Officer.
• Co-CEO for Dorchester Collection steps down. Long-time employee and current Co-CEO for Dorchester Collection, Eugenio Pirri - FIH CCIPD announced that he will be stepping down from his role effective 1st January 2025.

Deal Activity:

• Hurtigruten Group sold for €500M. Expedition cruising company Hurtigruten Group, has announced it sales to a consortium of existing investors for €500 million. The purchase is to complete in early 2025, with the investment being used to fund future expansion.
• Blackstone completes Greek hotel purchase for €235M. Blackstone announced that it completed the purchase of the Grand Hyatt Athens from Henderson Park and Hines for €235 million. The purchase represents Blackstone's tenth hotel in Greece, showcasing the markets potential.
• Criterion Capital is expanding Zedwell Hotels . Criterion Capital has acquired another asset in the heart of London on Princes Street, close to Bank Station and St Pauls Cathedral. The purchase will fuel the growth of the Zedwell portfolio, with the aim of opening 8,500 rooms by 2027.

Latest industry news:

• The Standard Hotel to open second branded residences. The Standard announced its second branded residences in Brickell, Miami, which will consist of three high-rise towers with 422 residences.
• Rockbridge celebrates it's 25 years anniversary. Investment platform Rockbridge celebrates 25 years, looking back on a great track record. As one of the co-founders, and CEO since 2008, Jim Merkel has transformed the company into a symbiotic team that invests in, designs, develops, operates and lends to hotels. As the company approached its 25th anniversary, Rockbridge has undergone an extensive rebrand a few months back, to ensure its values are well communicated to its stakeholders.