Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7, 2023
RADCO Hotel Division Acquires Aloft Phoenix-Airport Hotel
The RADCO Companies | August 8, 2023
Acquisitions
GuestTek Announces Acquisition of Event Conferencing Services (ECS)
GuestTek | November 10, 2022
Strengthens its Conferencing Solutions Offering for their Global Customers 10 November 2022, Calgary, Alberta, Canada –– GuestTek Interactive Entertainment Ltd., the global leader in providing innovative and interactive technology solutions for the hospitality industry, announced that it has acquired the shares of Event Conferencing Services Ltd. (ECS) to further grow its hospitality networking and conferencing services. ECS has nearly two decades of experience in the event services industry and has delivered comprehensive networking solutions to support over 500 digital and live events in 103 countries. Using leading-edge technolog...
Newbond Holdings and Funds Managed by Apollo Global Management Acquire Hotel Tampa Riverwalk
Newbond Holdings | November 4, 2022
NEW YORK--November 4, 2022--Newbond Holdings, a vertically integrated real estate investment and operating platform, founded by Neil Luthra and Vann Avedisian, is proud to announce the acquisition of the Hotel Tampa Riverwalk, formerly known as the Sheraton Tampa Riverwalk Hotel, in partnership with investment funds managed by an affiliate of Apollo (NYSE: APO). Ownership has selected Schulte Hospitality Group to manage the hotel. The 277-room property, located alongside the Hillsborough River and Riverwalk in downtown Tampa, was delivered unencumbered of the Sheraton flag and management, and has been rebranded as the Hotel Tampa Riverwalk...
Vision Hospitality Group Acquires Bohemian Hotel Celebration, an Autograph Collection Hotel
Marriott International | November 3, 2022
CHATTANOOGA, TENN November 3, 2022 Chattanooga-based Vision Hospitality Group, Inc., is pleased to announce the acquisition of the Bohemian Hotel Celebration, an Autograph Collection Hotel, in Celebration, Florida. The 115-room, boutique, lakeside hotel marks Vision’s entrance into the Florida market. Vision will rebrand the hotel as the Celebration Hotel, transforming the property into an intimate, and more modern hotel embodying the charm of Old Florida. “Vision has been looking for the right opportunity to enter the Florida market for years, and the Celebration Hotel possesses everything we were looking for in an asset,” said Mitch...
Braemar Hotels & Resorts to Acquire Four Seasons Resort Scottsdale at Troon North for $267.8M
November 1, 2022
Acquisition Highlights: Luxury 210-key resort in North Scottsdale nestled in the foothills of the Sonoran Desert near Pinnacle Peak The Company will purchase the asset using $267.8 million of cash on hand Revenue per available room (RevPAR) of $407 forecasted for 2022 year-end Numerous world-class amenities including spa treatments, a bi-level pool and authentic Southwest cuisine; offering breathtaking mountain views and ideally situated near two world-class golf courses DALLAS, Nov. 1, 2022 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced it has entered into ...
BOA Acquisition Corp. Stockholders Approve Previously Announced Business Combination With Selina
Selina | October 24, 2022
NEW YORK--BOA Acquisition Corp. (NYSE: BOAS) (BOA), a special purpose acquisition company, today announced that BOA stockholders voted to approve the previously proposed business combination with Selina Hospitality PLC (“Selina”) at BOA’s special meeting of BOA stockholders (the “Special Meeting”) held on Friday, October 21, 2022. More than 83% of the votes present at the meeting voted to approve the business combination with Selina. Holders of approximately 89.7% of BOA’s issued and outstanding shares were present at the Special Meeting. BOA stockholders also voted overwhelmingly to approve the other proposals at the Special M...
JRK Property Holdings Acquires 179-Room Ace Hotel & Swim Club Palm Springs
JRK Property | October 20, 2022
Los Angeles (October 20, 2022)— JRK Property Holding has acquired the 179-room Ace Hotel & Swim Club Palm Springs in Palm Springs, CA from an affiliate of GFI Capital. JRK acquired the resort through its $350 million Hospitality Fund, which focuses on cash-flowing full- and select-service hotels for value-add and core-plus investments across the country. It targets transactions of $20 million to $250 million, but can acquire up to $1 billion for portfolios or large single assets. The Ace Hotel, which opened in 2009, is comprised of seven buildings across a 5.04-acre campus, including three food and beverage venues, a spa and 7,500...
Banyan Investment Group Completes Acquisition of 213-Room Castle Hotel, Autograph Collection, in Orlando, Florida
Banyan Investment Group | October 19, 2022
ORLANDO, Fla.--Banyan Investment Group (BIG), an Inc. 5000-recognized, hotel investment company that acquires hotels in the United States, today announced the acquisition of the 213-room Castle Hotel, Autograph Collection by Marriott, in Orlando, Fla., for an undisclosed price. The hotel recently underwent a comprehensive, $8.2 million investment to improve guestrooms, public space and the building exterior. “Orlando, with its multitude of theme parks, golf resorts, outside adventures and fine dining options, continues to be the number one destination for leisure travel and conventions in the country,” said Samir Yajnik, principal an...
RADCO Hotel Division Acquires the 112-Key Aloft Sugarloaf in Northeast Atlanta, Geogia
The RADCO Companies | October 19, 2022
(Atlanta, GA – October 19, 2022) – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, has acquired Aloft Sugarloaf in Atlanta, a newly developed five-story, 112-key hotel located directly off I-85, one of the nation’s busiest interstates. Additional terms of the deal were not disclosed. Monty Levy and Ketan Patel of Hospitality Real Estate Counselors (HREC) brokered the sale. The property, which opened just three weeks ago, will be managed by Hospitality Ventures Management Group (HVMG). Located in the Northeast Atlanta submarket, Aloft Sugarloaf features a pool, fitness center and 24-...
Marriott International Reaches Agreement With Hoteles City Express, S.A.B. de C.V. to Acquire the City Express Brand Portfolio
October 19, 2022
Marriott International (NASDAQ: MAR) announced today that it has reached an agreement with Hoteles City Express, S.A.B. de C.V. (BMV: HCITY) to acquire the highly regarded City Express brand portfolio, marking Marriott’s entry into the affordable midscale segment with its 31st brand. The portfolio is currently comprised of 152 hotels, including 17,356 rooms across 75 cities in Mexico and three additional countries in Latin America. Upon closing of the transaction, the brand and hotel portfolio will become part of Marriott’s franchise system. Marriott will also acquire the franchise rights to five under-construction projects in the pip...
RADCO Hotel Division Acquires Three Courtyard by Marriott Hotels Along Florida’s Gulf Coast
RADCO | October 12, 2022
(Atlanta, GA – October 12, 2022) – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, has added three more properties to its fast-growing portfolio. Focused on growing Southeastern markets with strong business and tourist populations, RADCO has acquired three Courtyard by Marriott hotels along the Gulf Coast with over 300 rooms. Additional terms of the deal were not disclosed. Hunter Hotel Advisors brokered a deal including the Courtyards in Pensacola and downtown Panama City Beach, while CRBE Hotels served as broker for the Courtyard in downtown St. Petersburg. Two of the three properties...
Highline Hospitality Partners Acquires the Residence Inn in Norwalk, Connecticut
Highline Hospitality Partners | October 11, 2022
BIRMINGHAM, Alabama (Oct. 11, 2022) - Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), announces the acquisition of its ninth property with the purchase of the Residence Inn Norwalk, Connecticut. The Highline Hospitality Partners team has over 60 years of experience in sourcing, purchasing, asset-managing, renovating, repositioning, and selling hospitality properties and has operated all classes of hotels and resorts. “We are proud to add the Residence Inn Norwalk to our growing portfolio of hotels,” said Highline Hospitality Partners’ Managing Partner, Chuck P...
Pacifica Hotels Acquires Kimpton Hotel Vintage Portland for $32.9 Million
Pacifica Hotels | October 10, 2022
ALISO VIEJO, Calif. — October 10, 2022 —Pacifica Hotels, the largest owner and operator of boutique hotels along the Pacific Coast, is thrilled to announce the $32.9 million purchase of the Kimpton Hotel Vintage Portland. The iconic Portland hotel will join the company’s impressive portfolio of 40 plus properties currently located in California and Hawaii. “The Portland hospitality market has a long history of success and is a market we have been looking to have a presence in for many years,” shared Chris Marquis, Executive Vice President of Pacifica Hotels. “We are thrilled to have our first be Hotel Vintage with its heralded ...
Somera Capital Management Acquires Quorum Hotels & Resorts
Quorum Hotels & Resorts | October 7, 2022
NEWPORT BEACH, Calif., Oct. 7, 2022-- Somera Capital Management, a California and D.C. based investment firm, announced today the formation of its latest partnership and the acquisition of Dallas-based hotel management company Quorum Hotels & Resorts. With more than a 20-year relationship between Somera and Quorum principals as the foundation, the acquisition presented a natural evolution. The purchase will not only provide a comprehensive management solution for Somera's current hotel assets, but also position the company for future growth as it seeks to capitalize on market conditions for both its investors and ...
Trinity Investments Acquires Hyatt Regency Greenwich
Trinity | October 5, 2022
GREENWICH, Conn.--An investment fund managed by Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments LLC (“Trinity”), today announced the acquisition of Hyatt Regency Greenwich, a 373-key hotel located in Greenwich, Connecticut, one of the most affluent communities in the United States and a top commuter market to New York City. The hotel, which is the largest and only branded full-service hotel in Greenwich, is conveniently situated in a highly trafficked area and benefits from numerous demand generators. Trinity’s capital improvement plan contemplates a multi-million-dollar renovation of the four-story hotel...
Frontier Development & Hospitality Group, Sun Development & 3H Group Acquire the Chicago Marriott Suites Downers Grove
Frontier Development & Hospitality Group LLC | October 5, 2022
Chicago, IL – October 5, 2022 – Frontier Development & Hospitality Group LLC and its partners, Sun Development & Management Corporation and 3H Group Inc., have acquired the 7-story, 254-key Chicago Marriott Suites Downers Grove hotel situated at 1500 Opus Place in Downers Grove, Illinois. The 6.4-acre property is conveniently located approximately 20 miles west of Chicago and 11 miles from O’Hare International Airport. Downers Grove is a prominent suburb that generates an abundance of global, national, and regional corporate demand from companies such as MetLife, Microsoft, and Nuveen. The Chicago Marriott Suites Downers Grov...
Stonebridge Cos. Acquires DoubleTree by Hilton Hotel Las Vegas Airport
Stonebridge Cos. | October 4, 2022
DENVER — Stonebridge Cos., a privately owned, nationally recognized, innovative hotel owner, operator and developer headquartered in Denver, acquired the DoubleTree by Hilton Hotel Las Vegas Airport, marking Stonebridge’s expansion into the Las Vegas market. “We are excited to continue our growth with the recent acquisition of the DoubleTree Las Vegas Airport hotel. Our new partnership with TowerBrook Capital Partners and other private investors provides us a tremendous platform for us to achieve our significant growth plans throughout the U.S. and this acquisition is the first of many going forward,” said Tom Brinkman, president a...
Gravity Haus Acquires The Ptarmigan Inn Located in Steamboat Springs, CO
Gravity Haus | October 4, 2022
DENVER, Colo. (October 4, 2022) - Gravity Haus, the Colorado-based social club for the modern adventurer, has acquired a fifth property (the fourth hotel location in Colorado) with the purchase of the The Ptarmigan Inn and will expand its membership offering in Steamboat Springs, CO. Located steps from the base of Steamboat Ski Area and the Steamboat Gondola, just 35 minutes from the Yampa Valley Regional Airport (HDN) and three hours from Denver, the new outpost in Ski Town, U.S.A. expands the member benefits offered to the growing community of more than 4,000 members. Gravity Haus closed on the purchase of The Ptarmigan Inn on Thursday Sept...
K2 Group Acquires Holiday Inn Express & Suites Hotel in Niagara Falls, NY
K2 Group | September 28, 2022
TORONTO, Sept. 28, 2022 K2 Group, a leading Canadian investment firm, today announced the acquisition of the Holiday Inn Express & Suites hotel at 10111 Niagara Falls Boulevard in Niagara Falls, New York. The deal marks the fifth Niagara Region hotel property, and first US hotel, for K2 Group's growing hospitality portfolio. Holiday Inn Express & Suites, Niagara Falls, NY (CNW Group/K2 Group) "We are confident in the strength and continued growth of the Niagara Falls region as a popular, dynamic vacation and business-travel destination. We are excited to have found a great value-add hotel opportunity on t...
AJ Capital Partners Acqures The Dornoch Hotel in Dornoch, Scotland
Marine & Lawn | September 28, 2022
Nashville, Tenn. – September 28, 2022 – Adventurous Journeys (AJ) Capital Partners announced today the acquisition of The Dornoch Hotel in Dornoch, Scotland. The property will join Marine & Lawn Hotels & Resorts, a collection of bespoke hotels located in the world’s most premier golf destinations. AJ Capital will reposition the property as Dornoch Station hotel, honoring the hotel’s original name dating back to 1902, the Station Hotel. The hotel is now closed and for the next several months it will undergo comprehensive renovations of all guest rooms, public spaces, exterior and grounds including the installation of a putting ...
Excel Group Acquires Hilton Garden Inn Dobbs Ferry, Dobbs Ferry, New York
Excel Group | September 27, 2022
ARLINGTON, Va.--Arlington, VA –based real estate investment firm Excel Group recently completed the acquisition of the 143-key Hilton Garden Inn Dobbs Ferry, located 16 miles away from New York City. The asset is a newly constructed hotel located in the newest upscale mixed-use complex in the surrounding area. The Hilton Garden Inn Dobbs Ferry will be Excel Group’s 9th hotel acquisition over the past 18 months; totaling ~$250 million in new acquisitions. “We are very excited to add this new asset surrounded by extremely diverse demand drivers to our portfolio,” remarked founder Shoham Amin. The hotel benefits from a diversified...
NewcrestImage, Dabu & Countrywide Form JV to Acquire Best Western Plus in Page, Arizona
September 27, 2022
The Best Western Plus in Page, Arizona has been acquired by a new joint venture of NewcrestImage, Dabu Hotels, and Countrywide Hospitality in a transaction that was completed yesterday. The 130-room hotel will be operated by Terrapin Hospitality. The property is strategically located in the heart of a major leisure destination area that is visited by more than 4.5 million visitors. Among nearby outdoor attractions are the Grand Canyon, Lake Powell, Monument Valley, Glen Canyon Dam, Antelope Canyon, and Horseshoe Bend. “This hotel is a key stop for travelers who are making the ‘grand circle’ tour of western national parks such ...
RADCO Acquires Three Hotels in Panama City Beach, Florida
The RADCO Companies | September 27, 2022
(Atlanta, GA – September 27, 2022) – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, has acquired three new hotels in the Gulf of Mexico resort community of Panama City Beach, FL. The properties add 281 new Marriott and Hilton rooms to RADCO’s fast-growing Hospitality Division. Additional terms of the deal were not disclosed. The properties include a Home2 Suites, adjacent Fairfield Inn & Suites, and a Hampton Inn. All three hotels will be managed by LBA Hospitality. Hospitality Real Estate Counselors (HREC) served as brokers for the Home2 Suites and Fairfield Inn properties, with ...
Waramaug Hospitality Acquires Two Hilton Hotels in Huntsville, Alabama
Waramaug Hospitality | September 26, 2022
September 26, 2022, Dallas, TX— Waramaug Hospitality, a privately held investment firm focused on premium-branded select-service and full-service hotels, announced today it acquired the Hilton Garden Inn Huntsville South/Redstone Arsenal and the Hampton Inn & Suites Athens I-65/Huntsville Area. The 102-room Hilton Garden Inn features a large indoor pool, deck area, fitness center with Precor equipment, business center, and guest laundry. With 2,100 square feet of meeting space, the property can accommodate small groups and offers a space most select-service hotels do not possess. It is located right off Memorial Parkway, only 15 min...
CorpHousing Group Acquires Long-Term Rights to The Tuscany Hotel in NYC Via 15-Year MLA
CorpHousing Group Inc. | September 23, 2022
MIAMI--CorpHousing Group Inc. (“CorpHousing,” “CHG”, or the “Company”) (Nasdaq: CHG), which utilizes a long-term lease, asset-light business model to acquire and manage a growing portfolio of short-term rental properties in major metropolitan cities, today announced it has acquired long-term rights to The Tuscany Hotel in New York City via a 15-year Master Lease Agreement (“MLA”). The addition of The Tuscany brings to nine the total number of hotels in CHG’s portfolio and the 124 units added under this MLA increases CHG’s total units under long-term lease to 977. CorpHousing plans to start operating The Tuscany during ...
