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
Century Casinos Enters Into Definitive Agreement to Acquire Nugget Casino Resort in Nevada
Century Casinos, Inc. | February 23, 2022
COLORADO SPRINGS, CO - February 23, 2022 - Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company"), announced that it entered into a definitive agreement to acquire 50% of Smooth Bourbon, LLC ("PropCo") and 100% of Nugget Sparks, LLC ("OpCo") dba Nugget Casino Resort ("Nugget") from Marnell Gaming, LLC for $195 million. The Company will also have a five-year option to purchase the remaining 50% of PropCo for $105 million plus 2% per annum. The Company will purchase its 50% interest in PropCo for $95 million, which represents a capitalization rate of 7.9% based on preliminary 2021 numbers. PropCo ow...
Driftwood Capital Acquires The Scottsdale Resort at McCormick Ranch in Arizona
Driftwood Capital | February 11, 2022
Scottsdale, AZ – February 11, 2022 – Driftwood Capital, a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, announces that it has acquired The Scottsdale Resort at McCormick Ranch, a sprawling, hacienda-style resort with 326 guestrooms located on 16 lush acres in one of Arizona’s most exclusive planned communities. Built in 1976 as the first true conference center resort in the country, the AAA Four-Diamond resort is located next to two 18-hole championship golf courses and boasts 90,000 square feet of indoor-outdoor meeting and event space, two outdoor swimming pools, a spa an...
Wolfgramm Capital Acquires Avatar Hotel Group Portfolio and Management Company
Hodges Ward Elliott | February 9, 2022
DALLAS, Feb. 9, 2022 -- Hodges Ward Elliott ("HWE"), the premier boutique real estate capital markets advisor, announced it has arranged the fee-simple sale of the entire hotel portfolio for Avatar Hotel Group ("Avatar"), comprised of three select-service hotels in Texas with 280 rooms in total, to Wolfgramm Capital. Wolfgramm Capital also purchased and assumed Avatar's management company. In addition, HWE negotiated a separate transaction on behalf of Avatar selling a nearly three-acre development site in Plano, Texas pre-approved for a Home2 Suites development, to another buyer. An HWE team led by Austin Brooks advised the selle...
New Castle Acquires Holiday Inn Resort Jekyll Island for $41M With Equity Raised Through Crowdfunding
New Castle Hotels and Resorts | February 9, 2022
RIDGEFIELD, CT — February 9, 2022 — Julian Buffam and Jeremy Buffam, partners in New Castle Hotels & Resorts (NCH), a leading hotel investment, development and management company, today announced the acquisition of the 158-key Holiday Inn Resort Jekyll Island, located on over seven acres of beachfront on one of Georgia’s southernmost islands, for $41.0 million. The expansive resort, one of 46 Holiday Inn Resort properties worldwide, was built in two phases in 1950 and 1970, and underwent a comprehensive $100,000 per key upgrade in 2015. The property’s diverse array of amenities includes over one-quarter mile of beachfront...
Sandpiper Lodging Trust Acquires New WoodSpring Suites Extended Stay Hotel in Tampa, Florida
Sandpiper | February 8, 2022
Richmond, VA – February 8, 2022 – Sandpiper Lodging Trust (“SLT”) is pleased to announce the acquisition of a brand-new WoodSpring Suites extended stay hotel located in Tampa, Florida. The hotel was developed by Liberty Investment Properties, headquartered in Orlando, Florida, and was acquired by SLT upon completion. Sandpiper Hospitality will manage the 122-room hotel. Terms of the deal were not disclosed. Carter Rise, CEO of SLT, stated, “We have always been very attracted to the west coast of Florida’s hospitality market and we are extremely excited about the location of this asset in Tampa. Given the continued expan...
Dynamic City Capital Completes Acquisition of Hyatt Place San Francisco Downtown
Dynamic City Capital | February 7, 2022
PROVO, UT - February 7, 2022 - Dynamic City Capital (DCC), a Utah-based real estate investment firm focused on acquiring and developing premium-branded hotels, announced the acquisition of the Hyatt Place San Francisco Downtown. The transaction was completed on January 28 and is the company's first acquisition of 2022. The hotel's premium corner location is less than a half-block from Oracle Park, home of Major League Baseball's San Francisco Giants. "The Hyatt Place San Francisco Downtown is an excellent addition to our portfolio. The brand, market, and specific location fit our strategy to acquire best-in-class hotels in pri...
Union Investment Acquires Spain’s Hotel Barcelona 1882
| February 7, 2022
Union Investment has acquired a hotel in Barcelona, Spain, which opened in November 2018 under the Barcelona 1882 brand and will be converted to a Radisson Blu as part of the acquisition process. The hotel is located close to the famous basilica of the Sagrada Familia. Due for completion in just a few years after being under construction for 144 years, the basilica is the most visited landmark in Barcelona. The acquisition is being made on behalf of open-ended real estate fund Unilmmo: Europa. The vendor is Partners Group, a leading global private markets firm, acting on behalf of its clients. “Barcelona has always been one of Eu...
Host Hotels & Resorts Acquires 319-Room Hotel Van Zandt for $246M
Host Hotels & Resorts | February 3, 2022
BETHESDA, Md., Feb. 03, 2022 -- Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (the "Company"), today announced that it has acquired the fee simple interest in the Hotel Van Zandt, a 319-room luxury lifestyle hotel in Austin, Texas for a purchase price of approximately $246 million including its $4 million FF&E reserve. The net acquisition price of approximately $242 million represents a 13.2x multiple on 2019 EBITDA1 and stabilization is expected in the 2025-2027 timeframe at approximately 10-12x EBITDA1. The Company funded the acquisition with approximately $140 million in ...
Napa Valley’s Historic Silverado Resort and Spa Acquired by KSL Capital Partners and Arcade Capital
KSL Capital Partners | February 2, 2022
Denver, CO – February 2, 2022 – KSL Capital Partners, LLC (KSL) and Arcade Capital LLC announced today the acquisition by their affiliates of the iconic Silverado Resort and Spa, a luxury resort in the heart of Napa Valley wine country. Terms were not disclosed. A 2021 Trip Advisor Traveler’s Choice Award Winner and an annual recipient of the AAA Four Diamond Award since 1976, Silverado has been one of Napa Valley’s premier destinations for over 150 years, first as a private estate and now a contemporary 449 room resort, with two Robert Trent Jones, Jr. designed championship golf courses, a 16,000-square-foot spa and fitness center...
MCR Acquires the Aloft by Marriott in Downtown Houston
MCR | February 2, 2022
NEW YORK - February 2, 2022 - Everything is bigger in Texas — including the hotel rooms! MCR — the country’s 4th-largest hotel owner-operator — has acquired the 168-room Aloft Houston Downtown, a modern, 11-story hotel located in Houston. This is the company’s 38th hotel in the Lone Star State. Big commerce, space exploration and surrounding waterways have earned Houston — America’s 4th-largest city — the nicknames Hustle Town, Space City and Bayou City. Home to more than 35 Fortune 1,000 companies, from Sysco to Phillips 66, the growing metropolis works hard and plays even harder, coming alive with culinary and cultural...
Palm Holdings Acquires Element Miami International Airport for $32M
Palm Holdings | January 27, 2022
MIAMI, FL – January 27, 2022 – Palm Holdings, an international hospitality development company, recently announced it has added a key hotel to its Florida portfolio with the takeover of the Element Miami International Airport. The acquisition totals $32 million for the hotel property and Element’s business. Palm Holdings will be the managing operator of the hotel. The property, located at 3525 NW 25th Street, is just minutes from one of the country’s busiest airports, as well as within just a few miles of some of the city’s largest office parks. Additionally, the property is steps away from the planned $1 billion Miami Freedom Pa...
TPG Hotels, Resorts, and Marinas Acquires Marshall Hotels & Resorts
Marshall Hotels and Resorts, Inc. | January 26, 2022
Providence, RI — January 26, 2022 — TPG Hotels, Resorts and Marinas (TPG), one of the nation's premier hospitality firms, today announced an "acquisition of equal talents and minds" with the addition of Marshall Hotels and Resorts, a leading hotel management and services company with special expertise operating three and four-star branded hotels and resorts. The combined company will be headquartered in Salisbury, MD, and will oversee all day-to-day operations of the entire national portfolio of properties. "This is a win-win for all parties involved," said Mike Marshall, who will serve as president and CEO of the combined com...
LOTTE HOTEL Expands Its Global Operation With Lifestyle Hotel Brand ‘L7’ Launching in Chicago
| January 25, 2022
SEOUL, South Korea - January 25, 2022 - The biggest hotel group in South Korea, LOTTE HOTEL has completed its acquisition contract for Kimpton Hotel Monaco located at 225 N Wabash Avenue, Chicago, USA on January 14th, 2022 (CST). It was a joint investment with Korea Overseas Infrastructure & Urban Development Corporation which supports global expansion of Korean brands and services, and around $36 million was invested. It has been decided to operate under 'L7', a lifestyle hotel brand of LOTTE HOTEL, and is expected to open in the second half of 2023. A lifestyle hotel refers to a boutique hotel equipped with tre...
AWH Partners Acquires Kimpton Goodland Goleta Hotel Near Santa Barbara, California
AWH Partners, LLC | January 24, 2022
NEW YORK, NY - January 24, 2022 - AWH Partners, LLC ("AWH Partners" or "AWH"), a vertically integrated real estate investment, development, and management firm, today announced that it has acquired the Kimpton Goodland Goleta (the "Goodland" or the "Hotel"), a 158-room hotel near Santa Barbara, California. Parties in the Hotel's capital structure approached AWH for assistance in resolving challenges stemming from COVID-19. AWH executed a transaction that avoided a public process and effectuated a smooth transition for all parties. AWH's wholly-owned hotel management company, Spire Hospitality, is currently transitioning management of the G...
Woodmont Lodging, Milestone Companies and Blue Vista Capital Management Acquire Holiday Inn Asheville East Through JV
Woodmont Lodging | January 24, 2022
ASHEVILLE, NC — January 24, 2022 — Woodmont Lodging, Milestone Companies and Blue Vista Capital Management today announced the joint venture acquisition of the 111-room Holiday Inn Asheville East in N.C. This marks the fourth hotel transaction the companies have finalized together since 2018. “We are excited to begin the new year by acquiring the Holiday Inn Asheville East, a recently fully renovated hotel in a strong, drive-to market,” said Elliott Estes, principal, Woodmont Lodging. “We were able to source the opportunity 100% off-market at well below replacement cost, proving that we continue to be a resourceful and nimb...
Banyan Investment Group Acquires 114-Suite Homewood Suites by Hilton Atlanta/Perimeter Center
Banyan Investment Group | January 24, 2022
ATLANTA, GA — January 24, 2022 — Banyan Investment Group (BIG), an Inc. 5000-recognized, vertically integrated hotel investment company that acquires select-service hotels in the United States, today announced the acquisition of the 114-suite Homewood Suites by Hilton Atlanta/Perimeter Center. This hotel marks the first purchase utilizing the recently announced Banyan Lodging Enhanced Value Fund, LLC (“BLEV”), a fund vehicle that offers investors an opportunity to purchase hotels with a combination of strong cash flow and attractive basis with consideration to the impact by the on-going COVID-19 crisis. “The Homewood S...
The Georgetown Company & First Hospitality Purchase Iconic Hutton Hotel in Nashville
The Georgetown Company | January 20, 2022
NASHVILLE, TN — January 20, 2022 — The Georgetown Company, a leading developer and owner of commercial, retail and mixed-use properties nationwide, announces the acquisition of the iconic Hutton Hotel in Nashville. The all-cash purchase of the 250-key Nashville property is the first through the $1 billion hospitality investment platform launched last year by Georgetown in partnership with hotel management company First Hospitality. Georgetown is making a significant investment into the West End property, one of the premier boutique hotels in Nashville, and plans to invest additional capital to build upon the Hutton Hotel brand and furt...
Avenir Hospitality Acquires Four Boutique Hotels in Cannon Beach
Avenir Hospitality | January 19, 2022
CANNON BEACH, OR - January 19, 2022 - Avenir Hospitality (“Avenir”) has announced its acquisition of the Cannon Beach Hotel Collection, a portfolio of 4 boutique hotels located in Cannon Beach, Oregon. Avenir has partnered with New York-based boutique hotel operator Life House to manage the portfolio, which represents the company’s first properties in the Pacific Northwest. Named one of National Geographic's 100 Most Beautiful Places and one of its 21 Best Beaches in the World, Cannon Beach is renowned for its stunning natural beauty which includes wide sandy shores, stunning views of Haystack Rock–a 235 ft sea stack home to colorf...
Navika Group of Companies Acquires 253-Room Andaz Wall Street in New York
Navika Group of Companies | January 18, 2022
Navika intends to invest approximately $5 million into the hotel, which has rebranded to Hyatt Centric Wall Street New York NEW YORK — January 18, 2022 — Navika Group of Companies, a self-advised commercial real estate company, and Blue Sky Hospitality Solutions (BSHS) Management Company, one of the leading and fastest growing operators in the United States, today announced the acquisition of Andaz Wall Street, which has rebranded to Hyatt Centric Wall Street New York. The hotel plans to resume operations and begin welcoming guests on January 26, 2022, bringing a modern lifestyle hotel experience to Lower Manhattan. The hotel featur...
Noble Acquires the Hampton Inn & Suites and Hilton Garden Inn National Landing
Noble Investment Group | January 18, 2022
Atlanta, GA – January 18, 2022 – Noble Investment Group (“Noble”) today announced the acquisition of the 162-room Hampton Inn & Suites National Landing and the 248-room Hilton Garden Inn National Landing. National Landing is Washington D.C.’s premier mixed-use urban community comprised of three thriving neighborhoods of Crystal City, Pentagon City, and Potomac Yard in Arlington, Virginia. Built to blend the best of city living and the urban outdoors, the area contains a dynamic mix of offices, residential, dining, retail, parks, bike paths, and walking trails. National Landing is home to more than seventeen millio...
Palm Holdings Acquires Element Miami International Airport
Palm Holdings | January 17, 2022
MIAMI, FL – January 17, 2022 – Palm Holdings, an international hospitality development company, announced today that it has added a key hotel to its Florida portfolio with the takeover of the Element Miami International Airport. The property, located at 3525 NW 25th Street, is just minutes from one of the country’s busiest airports, as well as within just a few miles of some of the city’s largest office parks. Additionally, the property is steps away from the planned $1 billion Miami Freedom Park, which will be home to Miami’s professional soccer team. The Element Miami International Airport features 209 guest rooms, five sto...
Commonwealth Hotels Acquires the Aloft Knoxville West in Tennessee
Commonwealth Hotels, LLC | January 14, 2022
COVINGTON, KY - January 14, 2022 - Commonwealth Hotels, the affiliated hotel management company focused on managing all the Corporex-owned hotels as well as hotels for third-party companies, announced today the acquisition of the Aloft Knoxville West. The Aloft, a Marriott branded hotel, is the first hotel for Commonwealth in the state of Tennessee. "It is an exciting time to enter the Knoxville market" said Jennifer Porter, chief operations officer of Commonwealth Hotels. "Our goal will be to continue the hotel's tradition of offering exceptional hospitality in a prime location." Aloft Knoxville West is close t...
Robert Thompson’s Angevin & Co. Acquires New Orleans’ The Whitney Hotel in Partnership With GBX Group
Angevin & Co. | January 10, 2022
NEW ORLEANS, LA - January 10, 2022 - Following the purchase of the historic boutique hotel, The Frenchmen Hotel (417 Frenchmen St., New Orleans, LA 70116) in June 2021, award-winning entrepreneur Robert Thompson's hospitality firm, Angevin & Co., in partnership with GBX Group which specializes in preserving and operating historic real estate in urban markets, has completed the acquisition of another landmark destination, The Whitney Hotel (610 Poydras St, New Orleans, LA 70130). Thompson purchased the property from renowned hotelier and New Orleanian, Joe Jaeger. Tyler Robinson at Urban Properties represented Angevin &am...
Blue Flag Acquires 94-Key The Beachside on Nantucket
Blue Flag | January 10, 2022
NANTUCKET, MA - January 10, 2022 - Local real estate firm Blue Flag Partners announced its acquisition of The Beachside on Nantucket (“The Beachside”), a 94-key hotel on North Beach Street in Nantucket, MA. Originally built in 1966, The Beachside encompasses an expansive 3.5 -acre campus in Nantucket’s Brant Point neighborhood and features one of just five hotel pools on the entire island. Given its central location and proximity to Jetties Beach, downtown Nantucket and the Steamship Authority Nantucket Ferry Terminal, The Beachside has been a favorite of visitors to Nantucket for over 50 years. The Beachside joins Blue Flag’s g...
