With 180,000 franchised and leased rooms across China, Oyo Hotels and Homes has become one of the country's top-five hospitality companies in just a year.
ADR growth in Manhattan fell 3.3 percent in Q3 as more price-sensitive leisure guests took precedence over business travelers during summer.
Spire Hospitality now is operating and managing the hotel.
The hotels, located in Texas and Rhode Island, are managed by Prism Hotels & Resorts.
According to the December 2018 edition of "Hotel Horizons," U.S. hotel occupancy will rise to 66.2 percent next year, a fifth straight record level.
The 100-room hotel is expected to begin construction in 2019 for a planned opening in mid-2020.
Mulet is a founding member of the Playa management team, beginning with the company at its inception in 2006.
UC Funds owns the all-suite Residence Inn Stamford Downtown, which is managed by Urgo Hotels & Resorts of Bethesda, Md.
Charlestowne Hotels manages the property, an adaptive-reuse hotel located in The Block neighborhood in Asheville, N.C.
The property, which is positioned near local skiing and outdoor activities, joined the By Magnuson Worldwide Collection.