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
Outrigger Hospitality Group to Acquire Newly-Renovated Maafushivaru Resort in the Maldives
Outrigger Hospitality Group | April 1, 2022
PHUKET – April 1, 2022 – Outrigger Hospitality Group announced today that it is acquiring the newly renovated five-star Maafushivaru Resort in the Maldives – adding another premier beach property to its expanding global portfolio as early as 1 April, 2022. The luxury resort will be renamed Outrigger Maldives Maafushivaru Resort and is located on a private island in the pristine South Ari Atoll region, a 25-minute seaplane flight from Malé – offering convenient access and breathtaking views for arriving guests. The resort is comprised of a collection of 81 luxury villa styles including beach, pool and duplex accommodations, as well...
MH Hospitality Acquires Newly-Constructed Holiday Inn Express in Huntsville for $13.9M
Hilco Real Estate | March 31, 2022
NORTHBROOK, IL - March 31, 2022 - Hilco Real Estate, LLC announces the successful sale of this newly constructed, 56,963 SF, four-story, 98-Room Holiday Inn Express Hotel on behalf of Wealth Hospitality Group. Sitting on 2.68 AC, this hotel sold to MH Hospitality for $13,950,000, totaling $142,346 per key room. This listing was marketed for a period of 30 days, bringing in prospective buyers who wanted to move quickly on this brand-new asset. The hotel includes two elevators, a 1,200 SF meeting space, outdoor pool and fitness center. Huntsville, Alabama has become the largest city in the state with a population of approximately 215...
Ridgeway Investment Management Acquires Residence Inn by Marriott Jackson for $13.1M From Wealth Hospitality Group
Hilco Real Estate | March 31, 2022
NORTHBROOK, IL - March 31, 2022 - Hilco Real Estate, LLC announces the successful sale of this 101,117 SF Residence Inn by Marriott Jackson on behalf of Wealth Hospitality Group. Sitting on three acres, this four-story, 92-room hotel sold to Ridgeway Investment Management, a 1031 buyer for $13,100,000, totaling $142,391 per key room. This listing was marketed to a small group of select buyers who wanted to move quickly on this well-kept hotel, which features two elevators, a meeting room, business center, fitness center, indoor pool, sports court, and an outdoor picnic area with barbeques for grilling. The Residence Inn – Jackso...
Procaccianti Companies Expands Upscale Boutique Hotel Collection With Acquisition of the Chatham Wayside Inn on Cape Cod
Procaccianti Companies | March 31, 2022
Providence, RI– March 31, 2022 – Procaccianti Companies, one of the nation's premier real estate investment and services firms, today announced the acquisition of The Chatham Wayside Inn, located at 512 Main Street, Chatham, Massachusetts, in the heart of historic Cape Cod. The 56-room independent property will be managed by Procaccianti's hospitality management affiliate, TPG Hotels, Resorts & Marinas. CBRE Hotels acted as exclusive advisor to the seller; purchase price and details regarding the transaction will not be disclosed. "The acquisition of this property in world-famous Cape Cod (MA) aligns perfectly with our st...
Mission Hill Hospitality Acquires Inn of Naples, Tapestry Collection by Hilton
Mission Hill Hospitality | March 30, 2022
DENVER, CO – March 30, 2022 – Mission Hill Hospitality, a KSL Capital Partners portfolio company focused on transforming select service and extended stay hotel investing, announced it has acquired the Inn at Naples, Tapestry Collection by Hilton, a 100-key property in Naples, Florida. Terms of the deal are undisclosed. “This acquisition aligns with our strategy of building a high-quality portfolio of well-located select service and extended stay hotels, particularly in drive-to leisure markets like Naples, which draws year-round visitors,” said Greg Kennealey, CEO, Mission Hill Hospitality. “Since Mission Hill was launch...
Summit Hotel Properties Completes Acquisition of Canopy by Hilton New Orleans Downtown for $56M
Summit Hotel Properties | March 29, 2022
AUSTIN, TX - March 29, 2022 - Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has completed the previously announced acquisition of the 176-guestroom Canopy by Hilton New Orleans Downtown for $56.0 million through its joint venture with GIC. The closing of this transaction completes the $822 million portfolio acquisition from NewcrestImage which included 27 hotels containing 3,709 guestrooms, two parking structures, and various financial incentives. Additionally, the Company has over $425 million of total liquidity after completion of the transaction....
Coast Hotels Expands Portfolio With Acquisition of Regency Suites Hotel Calgary From SM2 Capital Partners
Coast Hotels | March 29, 2022
Vancouver, B.C. – March 29, 2022 – Coast Hotels Limited, a fully owned subsidiary of APA Hotel Canada, Inc. and one of North America’s fastest-growing and Canada’s largest hotel brands, announced today that it has entered into an agreement to purchase the Regency Suites Hotel in downtown Calgary from SM2 Capital Partners. The property will be rebranded immediately as the Coast Calgary Downtown Hotel & Suites by APA and will start welcoming guests under the Coast Hotels flag starting April 12, 2022. The Hotel is a 120 room all-suite property located in downtown Calgary at the intersection of 6th Street and 4th Avenue. T...
Kasada Acquires Iconic 120-Key Cape Grace Hotel in Cape Town, South Africa
Kasada | March 24, 2022
PORT LOUIS, Mauritius – March 24, 2022 – Funds advised by Kasada Capital Management (“Kasada”) today announced the acquisition of the 120-key Cape Grace hotel in Cape Town, South Africa. This acquisition marks Kasada's entry into the South African hospitality market and the continued fulfilment of the platform’s strategy to expand its presence in key cities across Sub-Saharan Africa. Kasada will now deploy its expertise in Cape Town with an asset voted one of the “Top Luxury Hotels” in the continent. Originally opened in 1996, the Cape Grace is located in Cape Town’s Victoria & Albert Waterfront district and is one o...
Peachtree Acquires Seven-Hotel Portfolio for $135 Million
Peachtree Hotel Group | March 22, 2022
ATLANTA, GA – March 22, 2022 – Peachtree Hotel Group (“Peachtree”) continues to capitalize on the hotel industry's recovery by acquiring seven premium-branded hotels for approximately $135 million. The acquisitions, totaling 829 rooms, include six Hilton hotels and one Marriott hotel. All hotels will be operated by Peachtree Hospitality Management ("PHM"), a division of Peachtree. "These acquisitions are complementary to our existing portfolio of high-quality, well-located assets with strong demand generators," said Brian Waldman, Peachtree's executive vice president, investments. "We experienced an uptick during the sec...
Procaccianti Companies Acquires Three Florida Keys Properties
Procaccianti Companies | March 17, 2022
Providence, RI – March 17, 2021 – Procaccianti Companies, one of the nation's premier real estate investment and services firms, today announced the acquisitions of three independent resort properties located in the Florida Keys; Parmer's Resort & Marina located on Little Torch Key and the Hadley House and Fisher Inn both located on Islamorada, Florida. The properties will be managed by Procaccianti's hospitality management affiliate, TPG Hotels, Resorts & Marinas. "The acquisition of these properties in the Florida Keys aligns perfectly with our strategic growth plan in the upscale boutique, independent, and marina s...
Sightline Hospitality Adds Evo Hotel, The English Hotel, and Radio Tower and Hotel to Third-Party Management Portfolio
Sightline Hospitality, LLC | March 11, 2022
SAN FRANCISCO, CA – March 11, 2022 – The well-established independent third-party hotel management company Sightline Hospitality announces the addition of three independent lifestyle hotels to their growing management portfolio. All three properties – evo Hotel, The English Hotel, and Radio Tower and Hotel – bring their own unique stories and concepts to the Sightline property lineup. evo Hotel The brand-new evo Hotel opened on February 1, 2022, in Salt Lake City, Utah’s Granary District. Known as the leading retail expert in outdoor gear, evo has expanded its brand by creating an outdoor enthusiast’s paradise. This one-of...
Taconic and HEI Hotels & Resorts Partner to Acquire Westchester Marriott From ACRE for $40
Taconic Capital Advisors | March 11, 2022
NEW YORK - March 11, 2022 - Taconic Capital Advisors, HEI Hotels & Resorts and Ares Commercial Real Estate Corporation (“ACRE”) announced today that Taconic and HEI have partnered to acquire the Westchester Marriott, a 444-key hotel in Tarrytown, NY, from ACRE for $40 million. As part of the transaction, ACRE has elected to provide a financing facility in support of the business plan for the hotel property. The 15-acre property, located at 670 White Plains Road in Tarrytown, offers 21 event rooms for a total of 26,700 square feet of conference and meeting space, including a 9,000-square-foot ballroom with a total capacity of 1,...
Mission Hill Hospitality Acquires Killington Mountain Lodge, Tapestry Collection by Hilton in Vermont
Mission Hill Hospitality | March 10, 2022
DENVER, CO – March 10, 2022 – Mission Hill Hospitality, a KSL Capital Partners portfolio company focused on transforming select service and extended stay hotel investing, announced it has acquired the Killington Mountain Lodge, Tapestry Collection by Hilton, located in central Vermont’s famed Green Mountains. Terms of the deal are undisclosed. This is the 15th property added to the Mission Hill Hospitality portfolio since the company was launched in March 2021. “Our strategy is to aggregate a high-quality portfolio of select service and extended stay hotels, particularly in drive-to leisure markets,...
Affiliates of Paceline Equity Partners Acquire Full-Service Marriott Hotel in Quincy, Massachusetts
Paceline Equity Partners | March 9, 2022
DALLAS, TX - March 9, 2022 - Affiliates of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced that they have acquired a full-service hotel in Quincy, Massachusetts. The Marriott Boston Quincy is set in a highly visible corridor along Route 128 at the intersection of I-93 and Route 3 and is less than 20 minutes from downtown Boston. Paceline acquired the hotel in an off-market transaction from the prior lender. The acquisition will be Paceline’s first strategic partnership with BlackPearl Capital, a group with extensive hospitality investing and operator experience. The Marriott Boston ...
MCR Acquires the Homewood Suites by Hilton in Downtown Little Rock
MCR | March 9, 2022
NEW YORK, NY - March 9, 2022 - One night isn’t enough in Little Rock! MCR — the country’s 4th-largest hotel owner-operator — has acquired the Homewood Suites by Hilton Little Rock Downtown, a six-story, extended-stay hotel with 116 suites in Arkansas’s state capitol. This is the company’s second hotel in The Wonder State. Arkansas is also known as the Toothpick State, the Natural State and the Bear State, but whatever your state of mind, you’ll be glad you came. Located on the banks of the Arkansas River, Little Rock is a rising hub for culture, cuisine and commerce in the Southeast, with a population of 200,000 people. ...
The LCP Group & Safanad Acquire Postcard Inn in St. Pete Beach, Florida
The LCP Group, L.P. | March 9, 2022
NEW YORK, NY — March 9, 2022 — A joint-venture between The LCP Group, L.P. (“LCP”), a vertically integrated, private real estate investment firm specializing in hospitality investing, and Safanad, a real estate and private equity investment firm, announced it acquired the iconic Postcard Inn on the Beach, St. Pete Beach, Florida. The 196-room oceanfront resort is situated on an expansive 9.64-acre tract with over 300 feet of frontage along the Gulf of Mexico, offering unparalleled access to St. Pete’s renowned beaches. Initially constructed in 1957, Postcard Inn features a lobby café, a full-service restaurant, and 3,880 square f...
Chatham Lodging Trust Acquires Hilton Garden Inn Destin Miramar Beach for $31M
Chatham Lodging Trust | March 9, 2022
WEST PALM BEACH, FL — March 9, 2022 — Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that the company has acquired the beachside 111-room Hilton Garden Inn Destin Miramar Beach, Fla., in an off-market transaction for $31 million, or approximately $279,000 per room. Recently opened in 2020, the hotel is within walking distance of the pristine white sands of the Gulf of Mexico. The hotel’s location in Miramar Beach is well situated in relation to the thriving Santa Rosa Beach and Destin ...
Sandpiper Lodging Trust Acquires WoodSpring Suites Extended Stay Hotel Portfolio in Orlando, Florida
Sandpiper | March 7, 2022
Richmond, VA – March 7, 2022 – Sandpiper Lodging Trust (“SLT”) is pleased to announce the acquisition of two WoodSpring Suites extended stay hotels located in the Orlando, Florida market. One of the hotels, WSS Clarcona, is located 6 miles northwest of downtown Orlando. The other hotel, WSS Clermont, is located 18 miles west of Orlando, near Lake Apopka. The hotels were initially developed by Liberty Investment Properties and have been owned most recently by Hotel Management Services, Inc. Sandpiper Hospitality will immediately begin managing the two-hotel portfolio. Terms of the deal were not disclosed. Carter Rise, CEO of SLT...
Avistone Completes Acquisitions of Hampton Inn & Suites Legacy Park—Frisco and Hotel Indigo Sarasota
Avistone | March 7, 2022
San Diego, CA — March 7, 2022 — Officials of Avistone today announced the completed acquisitions of the 105-room Hampton Inn & Suites Legacy Park—Frisco in Texas, and the 95-room Hotel Indigo Sarasota in Florida, both in the last quarter of 2021. Avistone is a rapidly growing commercial real estate investment firm with a successful track record in the acquisition and operation of multi-tenant, industrial properties and hotels nationwide. “With significant capital on the sidelines and certain owners realizing the industry has a year or two to go to reach pre-pandemic booking levels, it appears the acquisition dam is s...
EOS Investors Acquires Beach House Resort in Hilton Head Island, South Carolina
EOS Investors | March 3, 2022
Acquisition of oceanfront boutique resort in Hilton Head Island, SC expands EOS Investors LLC’s drive-to, leisure resort portfolio NEW YORK, NY (March 3, 2022) - EOS Investors LLC ("EOS"), a privately held real estate investment firm, today announced its acquisition of the Beach House Resort, an oceanfront resort in Hilton Head Island, South Carolina, one of the Southeast’s most well-established leisure markets. "We are excited to welcome another high-quality, leisure destination to EOS’s portfolio of more than 3,700 oceanfront keys in South Carolina,” said Tom Burns, Managing Director of EOS Investors. “Beach House aligns wi...
Mast Capital Acquires Iconic Saddlebrook Resort Property in Tampa’s Wesley Chapel Suburb
Mast Capital | March 3, 2022
Tampa, FL – March 3, 2022 – Marking its second acquisition in the Tampa market in the past three months, Miami-based developer Mast Capital closed on the 480-acre Saddlebrook Resort. Located in Tampa’s Wesley Chapel area, the property is home to a condo-hotel resort, 45 tennis courts, two 18-hole golf courses, and a tennis academy where some of the world’s top tennis players trained, including Jim Courier, Pete Sampras, Jennifer Capriati, Martina Hingis, James Blake, Mardy Fish, Andy Roddick, Jack Sock, Bob & Mike Bryan, Alexander Zverev, Mischa Zverev and John Isner. The joint venture between Mast Capital and Amzak Capital...
OTO Development Acquires 100-Key Best Western Fort Walton Beach
OTO Development | March 2, 2022
SPARTANBURG, SOUTH CAROLINA – March 2, 2022 – OTO Development has acquired Best Western Fort Walton Beach in the Florida Panhandle, adding a promising oceanfront property to the hotelier’s growing leisure portfolio. A major renovation is planned. David Altman and Robert Hunter of Marcus & Millichap represented the seller in this transaction, which closed on February 28. OTO, which is part of The Johnson Group, develops, owns and operates select-service hotels across the country. “Visitors are enthralled by the balmy weather, sugar-sand beaches and emerald waters of Fort Walton Beach – and as hoteliers, we are,...
Xenia Hotels & Resorts to Acquire W Nashville for $328.7M
Xenia Hotels & Resorts, Inc. | March 1, 2022
ORLANDO, FL - March 1, 2022 - Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has agreed to acquire the 346-key W Nashville for a purchase price of $328.7 million or $950,000 per key. "We are thrilled to have reached an agreement to acquire W Nashville, an outstanding newly constructed luxury lifestyle hotel located in the desirable Gulch neighborhood in the heart of Nashville," commented Marcel Verbaas, Xenia's Chairman and Chief Executive Officer. "The addition of W Nashville will mark the 14th property acquired since our listing on the NYSE in 2015 and aligns perfectly wi...
Dynamic City Capital Acquires AC Hotel by Marriott Fort Lauderdale Beach
Dynamic City Capital | February 24, 2022
PROVO, UT - February 24, 2022 - Dynamic City Capital (DCC), a Utah-based real estate investment firm focused on acquiring and developing premium-branded hotels, announced its acquisition of the AC Hotel by Marriott Fort Lauderdale Beach. The hotel is located on Alhambra Street, adjacent to Sebastian Street Beach. "The Fort Lauderdale Beach AC Hotel is a beautiful hotel situated in an ideal location. In addition, this purchase aligns with our strategy of acquiring and developing high-quality, branded hotels in core markets. It is a perfect complement to our portfolio," said Joel Sybrowsky, DCC's co-managing partner. ...
