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
RLJ Completes Acquisition of 170-Room Moxy Denver Cherry Creek for $51.3M
RLJ Lodging Trust | January 10, 2022
BETHESDA, MD - January 10, 2022 - RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that it has acquired the 170-room Moxy Denver Cherry Creek (“Moxy Cherry Creek”) for a purchase price of $51.3 million, or approximately $301,000 per key and completed the disposition of the 764-room DoubleTree Hotel Metropolitan New York City (the “DoubleTree Metropolitan”) for gross proceeds of $169.0 million. “We are pleased to acquire the recently built Moxy Cherry Creek Hotel, located within the heart of the exclusive Cherry Creek submarket of Denver, which is expected to generate outsized growth for years to come. In ...
Ascendant Capital Partners and Centerbridge Partners Acquire Monterey Tides Hotel
Ascendant Capital Partners | January 10, 2022
LOS ANGELES, CA – January 10, 2022 – Ascendant Capital Partners, a vertically integrated real estate investment and operating platform, in partnership with Centerbridge Partners today announced that they have acquired Monterey Tides, a 196-room waterfront boutique hotel in Monterey, California, from Southwest Value Partners. Monterey Tides, located on Sand Dunes Drive, is Monterey’s only hotel with a privately owned beachfront, spanning almost 600 linear feet. The hotel features well-appointed guestrooms and a range of amenities including restaurants and bars, a heated outdoor pool and hot tub, 9,000 square feet of ocean-view meeting ...
Noble Acquires the Hampton Inn and Holiday Inn Express Savannah Historic District
Noble Investment Group | January 6, 2022
Atlanta, GA – January 6, 2022 – Noble Investment Group ("Noble") today announced the acquisition of the Hampton Inn Savannah Historic District and Holiday Inn Express Savannah Historic District. The hotels are prominently located on East Bay Street, across from the Savannah River and River Street, and within walking distance to the Historic District's top attractions. Savannah is recognized as one of the top visitor destinations in the world. In 2021, Savannah was named the No. 3 Top City in the United States by Travel + Leisure in the annual reader's World's Best Awards and ranked on TIME's list of The World's Greatest Places of 20...
NewcrestImage to Acquire 9 Arizona Properties From G6 Hospitality
NewcrestImage | January 6, 2022
NewcrestImage has reached definitive agreement to purchase nine hotels in Arizona from G6 Hospitality – six branded Motel 6 and three branded Studio 6. The transaction is expected to close in early March. “Acquiring properties, along with developing new hotels, are our two primary investment strategies for achieving growth in 2022,” said Mehul Patel, Chairman and CEO of Dallas-based NewcrestImage. “We look forward to creating fresh opportunities for these nine Arizona hotels in keeping with our operating philosophy, abilities, and track record.” According to Patel, Arizona is an attractive market because it...
Turnstone Ventures Acquires The Shire Woodstock in Vermont
Life House | January 5, 2022
WOODSTOCK, VT - January 5, 2021 - Turnstone Ventures, a vertically-integrated real estate investment first led by seasoned Boston-based developer Jeff Glew, has acquired the historic 50-key The Shire Woodstock in Woodstock, VT. Turnstone has hired New York-based Life House Hotels, signaling the tech-enabled hotel operator’s first hotel in Vermont and 20th hotel in New England. The village of Woodstock, Vermont was chartered in 1761, 15 years before the United States of America signed the Declaration of Independence. Later designated as the Shire Town of Windsor County in 1786, Woodstock became a hub for entrepreneurs, appealing to some o...
Summit Hotel Properties Completes Acquisition of Embassy Suites by Hilton Tucson / Paloma Village
Summit Hotel Properties | January 5, 2022
AUSTIN, TX - January 5, 2022 - Summit Hotel Properties, Inc. today announced that it completed the acquisition of the 120-guestroom Embassy Suites by Hilton Tucson / Paloma Village for $25.5 million through its joint venture with GIC on December 21, 2021. The investment represents a high-quality, market-leading hotel in a rapidly growing market. The property's excellent location and dominant Embassy Suites brand affiliation have allowed the hotel to consistently rank at the top of its competitive set, commanding an average RevPAR Index of nearly 150% over the last five years. While occupancy and ADR in the Tucson market are historically st...
Vail Resorts Closes Acquisition of Seven Springs Mountain Resort, Hidden Valley Resort and Laurel Mountain Ski Area in Pittsburgh Area
Vail Resorts, Inc. | January 3, 2022
BROOMFIELD, CO - January 3, 2021 - Vail Resorts, Inc. today announced that the Company has closed on its acquisition of Seven Springs Mountain Resort, Hidden Valley Resort and Laurel Mountain Ski Area in Pennsylvania. The Company purchased the resorts, including the ski areas, a hotel, conference center and other related operations, from Seven Springs Mountain Resort, Inc. and its affiliates for a final purchase price of approximately $118 million, including customary closing purchase price adjustments. Seven Springs, Hidden Valley and Laurel Mountain join Vail Resorts' network of now 40 resorts worldwide. Operations at the three r...
MCR Acquires Stoweflake Mountain Resort & Spa in Stowe, Vermont
MCR | January 3, 2022
NEW YORK — January 3, 2021 — Walking in a winter wonderland! MCR — the country’s 4th-largest hotel owner-operator — has acquired the 117-room Stoweflake Mountain Resort & Spa in Stowe, Vermont. Just downslope from Mount Mansfield, Vermont’s highest peak, Stoweflake Mountain Resort & Spa is your home base for four seasons of outdoor adventure. Come for the mountain biking, leaf-peeping, hiking and snowshoeing; stay for the spacious guestrooms (with fireplaces!), 50,000-square-foot spa, two pools and outdoor jacuzzi. Want to link up with friends and family? We’ve got a nine-hole golf course and 32 townhomes, too! ...
OTO Development Acquires Hyatt House Nashville at Vanderbilt
OTO Development | January 3, 2022
SPARTANBURG, SOUTH CAROLINA – January 3, 2022 – OTO Development is moving into Music City with the acquisition of Hyatt House Nashville at Vanderbilt. The deal for this Nashville, Tennessee property was brokered by Hunter Hotel Advisors. Headquartered in Spartanburg, South Carolina, OTO Development is part of The Johnson Group. The company develops, owns and operates a dynamic portfolio of select-service hotels across the country. “Nashville has been on our potential playlist for quite some time,” says Corry Oakes, CEO of OTO Development. “Hyatt House Nashville at Vanderbilt presents an ideal opportunity for us to ente...
Linchris Acquires the Anchor In Hotel in Hyannis, MA
Linchris Hotel Corporation | December 23, 2021
PLYMOUTH, MA – December 23, 2021 – Linchris Hotel Corporation, today announced the acquisition of the Anchor In in Hyannis, MA. Overlooking Hyannis Inner Harbor, the hotel operates year-round and is located in the heart of this well-known tourist destination and a 3-minute walk from the Steamship Authority ferry terminal and a 5-minute walk from the Cape Cod Maritime Museum. The hotel has magnificent views from private decks and within walking distance to the beaches, ferries, waterfront restaurants, and shops. Although the Anchor In is in very good physical condition, Linchris plans to invest $400,000 in capital improvements duri...
JMBM Represents Prism Hotels & Resorts in Sale to Aimbridge Hospitality
the Global Hospitality Group® | December 21, 2021
The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce the successful closing of the sale of our client Prism Hotels & Resorts (prismhotels.com) to Aimbridge Hospitality (aimbridgehospitality.com). Prism specializes in hotel management, resort development management, and management of hotels in receivership and Ambridge is a leading global hospitality company. Partners Guy Maisnik and Jay Thompson led the JMBM team with Jamie Ogden working unrelentingly on the pre-closing restructure. Associate Michelle Choi also worked assiduously on the restructure and on a myriad of ancillary deal do...
Trinity Investments and Oaktree Acquire 305-Key W Hollywood
Trinity Real Estate Investments LLC | December 21, 2021
LOS ANGELES - December 21, 2021 - A joint venture among funds managed by Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments LLC (“Trinity”), and funds managed by Oaktree Capital Management, L.P. (“Oaktree”) today announced the acquisition of W Hollywood, a 305-key luxury hotel located in the heart of Hollywood. Following the transaction, Trinity and Oaktree will undertake a multi-million-dollar capital improvement plan that will both elevate the hotel as well as enhance Marriott International’s design and positioning of the W Hotels brand globally as it evolves to meet the future needs of luxury travelers. ...
MCR Acquires a Portfolio of 6 Marriott and Hilton Hotels Across Texas and New Mexico
MCR | December 21, 2021
NEW YORK - December 21, 2021 - Say cheese! MCR — the country’s 4th-largest hotel owner-operator — has acquired a portfolio of six premium-branded hotels in Texas and New Mexico, known as “smile states” for their location and fast-growing markets. Totaling 603 rooms, the acquisition includes two Marriott hotels (a TownePlace Suites and a Fairfield Inn & Suites) and four Hilton hotels (two Hamptons, a Home2 Suites and a Tru). All were built in the last four years and nearly 40% of the portfolio (by room count) is specifically an extended stay, all-suite product designed to cater to longer-term guests. Five hotels are in the ...
Trinity Investments Acquires Fifty Percent Interest in Omni San Diego Hotel From JMI Realty
Trinity Real Estate Investments LLC | December 21, 2021
SAN DIEGO, CA - December 21, 2021 - An investment fund managed by Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments LLC (“Trinity”), today announced the acquisition of a 50 percent interest in Omni San Diego Hotel from JMI Realty, who originally developed the hotel in conjunction with Petco Park in 2004. Omni Hotels & Resorts (“Omni”) owns the remaining fifty percent interest in the hotel and will continue to manage it. The acquisition also includes more than 13,000 square feet of fully leased, street-level retail space, located across the street from the hotel. Situated in the heart of the historic Gas...
Host Hotels & Resorts Acquires The Alida, Savannah for $103 Million
Host Hotels & Resorts | December 21, 2021
BETHESDA, MD - December 21, 2021 - 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 Alida, Savannah, a 173-room boutique hotel, for approximately $103 million in cash. This newly constructed hotel opened in October 2018 and benefits from soft branding in Marriott’s Tribute Portfolio. Rooms average 371 square feet with high ceilings, hardwood floors, built-in window seats and marble bathrooms. The hotel offers 11,570 square feet of meeting space (5,170 indoor), four F&B outlets including a roof...
IQware Inc Acquires Megasys Hospitality Solutions
IQware Inc | December 20, 2021
IQware strengthens its position in the Alternative Lodging Market and acquires Megasys Hospitality Solutions. Laval, Quebec, Canada. IQware Inc, a leader in the Independent Market of Hospitality Technology providers, has acquired Megasys Hospitality Solutions, a Hospitality Property Management Software company that provides a robust guest-centric application for managing Hospitality accommodation properties. The move to acquire Megasys Hospitality Solutions commenced in the summer of 2021 after IQware Inc. raised capital from its new co-owner and Director Mr. Doug Skrepnek. Mr. David Perkins – CEO and Partner says “Doug and I clearl...
WTS International Acquires Meet Hospitality, Will Expand Services
WTS International | December 20, 2021
ROCKVILLE, Maryland (Dec. 20, 2021) – WTS International, a global provider of hospitality and amenity services for commercial, residential and hotel properties, today announced it has acquired Meet Hospitality Services LLC, which provides design and management services for meeting, conference and amenity centers in New York City. Barry Goldstein, WTS Chief Executive Officer, said Meet Hospitality’s resources and expertise in conference and meeting management will enable WTS to offer a broader spectrum of services and attract a new category of clients while providing an additional base of operations in New York, one of North America’s...
Marcus® Hotels & Resorts Forms Joint Venture With Searchlight Capital Partners to Grow Portfolio of Co-Owned Hotels
Marcus Hotels & Resorts | December 20, 2021
MILWAUKEE - December 20, 2021 - Marcus® Hotels & Resorts, a nationally recognized owner and management company and division of The Marcus Corporation (NYSE: MCS), today announced that it has formed a joint venture with funds managed by Searchlight Capital Partners, a leading global private investment firm, to co-invest in lifestyle hotels, resorts and high-quality full-service properties. Through this joint venture, Marcus Hotels & Resorts and Searchlight Capital Partners announced the acquisition of the Kimpton Hotel Monaco Pittsburgh, which Marcus Hotels & Resorts will manage, effective December 16, 2021. The hotel will rem...
Oxford Capital Group Acquires The Westin Book Cadillac Detroit
Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC | December 20, 2021
CHICAGO, IL – December 20, 2021 — Continuing its national opportunistic investment activities, Oxford Capital Group, LLC today announced the acquisition and planned full scale interior renovation of the iconic 453-room Westin Book Cadillac Detroit Hotel, located at 1114 Washington Boulevard in the Washington Boulevard Historic District of downtown Detroit. Oxford, along with its partner Taconic Capital Advisors, led complex negotiations with multiple constituents, ultimately resulting in the modification, restructuring, and assumption of the commercial mortgage-backed security loan. As part of its investment commitment, Oxford and Tacon...
Agilysys to Acquire Resort & Hotel Management Software Provider ResortSuite
Agilysys | December 16, 2021
Acquisition Will Strengthen Agilysys’ Presence In The Resorts and Hotel Property Management Systems (PMS) Space. Alpharetta, GA and Toronto, ON, Canada, December 16, 2021 -- Agilysys, Inc. (NASDAQ: AGYS), a leading provider of next-generation SaaS software solutions, today announced it has entered into a definitive agreement to acquire ResortSuite, a Canada-based fully integrated property management solution provider focused on the complex multi-amenity and resort market. This acquisition creates the opportunity to bring next-generation SaaS solutions to ResortSuite customers who have been served well by a trusted partner for more than ...
MCR Acquires the DoubleTree Suites Minneapolis
MCR | December 16, 2021
NEW YORK - December 16, 2021 - Target acquired! MCR — the country’s 4th-largest hotel owner-operator — has purchased the 229-room DoubleTree Suites by Hilton Minneapolis Downtown, a 12-story hotel conveniently positioned across the street from Target Corporation’s global headquarters. This is the third hotel MCR has acquired in the Minneapolis metropolitan area over the past 12 months, coming on the heels of The Chambers Hotel and the Hilton Garden Inn Minneapolis University Area. The city of Minneapolis claims headquarters to 17 Fortune 500 Companies – the 3rd highest concentration on a per capita basis of any metropolitan area ...
Noble House Hotels & Resorts Welcomes New Collection Member: Estancia La Jolla Hotel and Spa
Noble House Hotels & Resorts, Ltd. | December 15, 2021
KIRKLAND, WA— December 15, 2021 — Noble House Hotels & Resorts—the family-owned, boutique hotel brand—is pleased to welcome San Diego County-based Estancia La Jolla Hotel and Spa to its portfolio of unique, experience-driven properties. Leading real estate investment trust Pebblebrook Hotel Trust (NYSE: PEB), which owns the iconic coastal hotel, has tapped Noble House to manage the luxe property. This brings the total number of luxury hotels, resorts and experiences which includes the Napa Valley Wine Train, within the Noble House brand portfolio to 24 across North America. Estancia, spanning ten acres, is located in the ...
Aries Living Acquires Berkshires Historical Property, The Apple Tree Inn, for $2.7M
The Apple Tree Inn | December 14, 2021
LENOX, MA – December 14, 2021 – Aries Living hospitality group today announced that it has acquired The Apple Tree Inn, a historical a 34-room bed-and-breakfast located in the heart of the Berkshires for a purchase price of $2.7 million, or approximately $79,411 per key. The historical 22-acre estate was originally built in 1885 and operated as an inn. Aries Living funded the acquisition with existing cash on its balance sheet. “We are pleased to expand our footprint into the northeast region by acquiring this historical asset in the heart of the Berkshires set with culture, music and the magic of the mountains,” commented Max Khag...
Prism Hotels & Resorts Acquired by Aimbridge Hospitality
Prism Hotels & Resorts | December 14, 2021
DALLAS, TX — December 14, 2021 — Dallas-based Prism Hotels & Resorts, an award-winning, full-service hotel management, investment and advisory services company representing more than 48 properties across the country, has been acquired by Aimbridge Hospitality, a leading global hospitality company. The terms of the deal will not be disclosed. The announcement was made by Steve Van, President & CEO of Prism Hotels & Resorts, and Aimbridge President & CEO Michael J. Deitemeyer. In addition to a strong presence in traditional hotel management, Prism boasts the industry leading hotel receivership advisory and “turnaround” ...
