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
Noble Acquires Portfolio of Marriott, Hilton, and Hyatt Branded Hotels
Noble Investment Group | December 14, 2021
Atlanta, GA – December 14, 2021 – Noble Investment Group (“Noble”) today announced the acquisition of the Residence Inn by Marriott Charlottesville Downtown, Hyatt House Tallahassee Capitol | University, and the Hampton Inn & Suites Tallahassee Capitol | University. These newly built hotels are in strong growth markets, which provide a highly resilient and diverse mix of business and leisure demand generators. The Residence Inn by Marriott Charlottesville Downtown is centrally located along Main Street in Charlottesville, Virginia. The city is home to the 27,000-student University of Virginia (“UVA”), the 631-bed UVA Med...
Dreamscape Companies and Meritage Group Acquire New Construction Nashville Holiday Inn & Suites Downtown
Dreamscape | December 14, 2021
Nashville, TN – December 14, 2021 – A joint-venture between affiliates of Dreamscape Companies and Meritage Group LP completed the acquisition of the Nashville Holiday Inn & Suites Downtown, a newly constructed hotel situated in the heart of Downtown Nashville in the city’s vibrant SoBro (South of Broadway) neighborhood. This purchase marks Dreamscape’s second hospitality transaction in the city in 2021, having acquired The Sheraton Grand Nashville Downtown in June. The purchase of this 230-room hotel underscores Dreamscape’s commitment to expanding its presence in the Nashville market, as well as identifying prime growth opp...
OTO Development Acquires Dunes Manor Hotel, Court & Suites in Ocean City, Maryland
OTO Development | December 10, 2021
SPARTANBURG, SOUTH CAROLINA – December 10, 2021 – OTO Development has acquired Dunes Manor Hotel, Court & Suites in Ocean City, Maryland. The deal adds a long-popular resort complex to the hotelier’s growing beachfront portfolio. Headquartered in Spartanburg, South Carolina, OTO Development is part of The Johnson Group. The company develops, owns and operates select-service hotels across the country. “Ocean City bills itself as the East Coast’s favorite vacation destination,” says Corry Oakes, CEO of OTO Development. “More than 8 million people visit every year – and we are delighted to be here now, too.” ...
KSL Capital Partners Acquires Luxury Hotel Portfolio From Davenport Hotels in Spokane, WA
KSL Capital Partners | December 9, 2021
SPOKANE, WA - December 9, 2021 - KSL Capital Partners, LLC (KSL) announced today a definitive agreement under which an affiliate will acquire the privately held Davenport Hotels from Walt and Karen Worthy, who assembled the portfolio of the five top luxury, convention, business and leisure hotels in Spokane, WA over the past two decades. Terms of the off-market transaction will not be disclosed. The transaction is expected to close within the next 30 days. Upon completion of the sale, Davenport Hotels will continue to build on the legacy established by the Worthys, who plan to retire, and operate under the continued leadership of Lynnelle ...
Castlelake and Woodbine Complete Acquisition of Hyatt Regency DFW International Airport
Castlelake | December 8, 2021
MINNEAPOLIS and DALLAS - December 8, 2021 - Castlelake, L.P., ("Castlelake") a global alternative investment manager with 16 years of experience investing in asset-rich opportunities, today announced it has acquired The Hyatt Regency DFW International Airport with Woodbine Development Corporation ("Woodbine"), a full-service real estate company with more than 40 years of development, investment, acquisition and asset management experience. The investment combines insight into passenger traffic and airline business plans that Castlelake has acquired over the course of its 16-year history in the aviation sector, with its significant real...
Vail Resorts to Acquire Seven Springs Mountain Resort, Hidden Valley Resort and Laurel Mountain Ski Area in Pittsburgh Area
Vail Resorts, Inc. | December 8, 2021
BROOMFIELD, CO - December 8, 2021 - Vail Resorts, Inc. announced today that it has entered into an agreement to purchase Seven Springs Mountain Resort in Pennsylvania from Seven Springs Mountain Resort, Inc. As a part of the acquisition, Vail Resorts will also acquire Hidden Valley Resort and the operations of Laurel Mountain Ski Area. The purchase price for the ski areas, plus a hotel, conference center and other related operations, is approximately $125 million, subject to certain adjustments. "We are incredibly excited to have the opportunity to add Seven Springs to our family of resorts along with Hidden Valley and Laur...
Commonwealth Hotels Acquires the Staybridge Suites Indianapolis Fishers and the Hampton Inn & Suites Scottsburg Indiana
Commonwealth Hotels, LLC | December 7, 2021
COVINGTON, KY - December 7, 2021 - Commonwealth Hotels is excited to announce the acquisition of the Staybridge Suites Indianapolis Fishers and the Hampton Inn & Suites Scottsburg Indiana. The Staybridge is just 20 minutes from downtown Indianapolis and the Hampton Inn & Suites is located just 30 minutes from downtown Louisville and near the Indiana National Guard. "We are excited to add these additional hotels to the Indiana market" Jennifer Porter, Chief Operations Officer, said. "Our managed portfolio is now 58 strong across the US and we have a significant pipeline of deals that we expect to close on in the...
Newbond Holdings Acquires Waterstone Resort & Marina Boca Raton
Newbond Holdings | December 7, 2021
NEW YORK - December 7, 2021 - Newbond Holdings, a vertically integrated real estate investment and operating platform founded by Neil Luthra and Vann Avedisian, announced the acquisition of the Waterstone Resort & Marina Boca Raton. This transaction marks Newbond’s second Florida hotel investment following the firm’s official launch earlier in the year. Newbond acquired the 139-key hotel through an off-market transaction. The Waterstone Resort & Marina is located in the heart of Boca Raton, offering picturesque views of the Intercoastal and the Atlantic Ocean as well as immediate access to the city’s world-class beaches and m...
RREAF Acquires Two Hotels in Fort Pierce, Florida and Surfside Beach, South Carolina
RREAF Holdings LLC | December 7, 2021
DALLAS, TX - December 7, 2021 - RREAF Holdings LLC, a private real estate investment and development firm based in Dallas, TX, today announced the acquisition of their Beachside Hotel Portfolio. The portfolio includes Hutchinson Island Plaza Hotel in Fort Pierce, Florida and the Holiday Inn Oceanfront in Surfside Beach, South Carolina. The portfolio totals 203 keys with both assets in iconic beachfront locations that demonstrate some of the strongest performance among hospitality markets. For example, Holiday Inn Oceanfront is located within a short distance to Myrtle Beach, which attracts over 17 million visitors annually with a $7...
Peachtree Hotel Group Acquires Two Miami Hotels
Peachtree Hotel Group | December 7, 2021
ATLANTA, GA – December 7, 2021 – Peachtree Hotel Group ("Peachtree") announced the acquisitions of the 207-key AC Hotel Miami Aventura and the 233-key Aloft Miami Aventura, in Aventura, Fla., which is part of the Miami metropolitan area. Peachtree Hospitality Management ("PHM"), a division of Peachtree, will operate the properties. These acquisitions are the latest completed by Peachtree closing only weeks following the acquisitions of the 81-key Hampton Inn & Suites and the 60-key La Bellasera Hotel & Suites, in Paso Robles, California. For the year, Peachtree has acquired approximately $2.0 billion in hotel assets and expect...
A Flurry of Hotel Tech Company Mergers and Acquisitions Marks the End of 2021
Fran Worrall | December 2, 2021
By Fran Worrall Since early 2020, the hospitality sector has witnessed a sea change. The worldwide disruption triggered by the COVID-19 pandemic forced almost every technology company in the industry to review their portfolios, reassess their strategies and redirect resources into areas with the greatest growth potential. Some businesses became targets for opportunistic deals, while others struggled to operate in ‘new normal’ mode. Yet for companies with solid balance sheets and a willingness to take calculated risks, the pandemic provided unprecedented opportunities for growth through mergers and acquisitions. Mergers enabled some ...
Key International and Wexford Real Estate Investors Acquire Fort Lauderdale Marriott Pompano Beach Resort & Spa
Key International | December 2, 2021
MIAMI, FL – December 2, 2021 – Key International, a leading international real estate development and investment firm, and Wexford Real Estate Investors (WREI) have acquired the Fort Lauderdale Marriott Pompano Beach Resort & Spa, a beachfront hotel consisting of 219 suites located at 1200 N. Ocean Blvd. APEX Capital Realty's specialized hospitality team identified the opportunity to trade this signature waterfront asset. Miguel Pinto, President / Managing Broker of APEX Capital Realty, and Garrick Benabe, Director of Hospitality Investments represented the sellers Pompano Hotel I LLC et al. Miguel Pinto, Garrick Benabe, an...
Pebblebrook Hotel Trust Acquires Estancia La Jolla Hotel & Spa in La Jolla, CA for $108M
Pebblebrook Hotel Trust | December 2, 2021
BETHESDA, MD – December 2, 2021 – Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it acquired the AAA Four Diamond 210-room Estancia La Jolla Hotel & Spa (“Estancia”) in La Jolla, California for $108 million. The Company retained Noble House Hotels & Resorts (“Noble House”) to manage this unique and impressive hacienda-style resort. Estancia, spanning ten acres, is located in the heart of the affluent coastal La Jolla market. The resort is a short walk from Black’s Beach, next door to the world-renowned Salk Institute for Biological Studies, and adjacent to the University of California, Sa...
Monarch Alternative Capital Acquires Dual-Branded SpringHill Suites and TownePlace Suites Orlando Theme Parks/Lake Buena Vista
Monarch Alternative Capital LP | December 1, 2021
NEW YORK and LONDON – December 1, 2021 – Monarch Alternative Capital LP, a leading investment firm with approximately $9.5 billion of assets under management, today announced the purchase of the SpringHill Suites and TownePlace Suites Orlando Theme Parks/Lake Buena Vista in Orlando, Florida. Given the firm's growing real estate presence in the Orlando market which now represents over 1,500 keys across four hotels, Monarch was able to acquire the recently constructed, distinctly positioned property at a discount to replacement cost in an off-market transaction due to the pandemic induced disruption in the business and leisure trav...
BPH Group Acquires Radisson Suites Hotel Buena Park-Disneyland Area for $21.5M
Roberts Hospitality | December 1, 2021
Orange County, CA – December 1, 2021 – The 200-all suite hotel located at 7762 Beach Blvd in Buena Park has sold for $21,500,000 or $107,500 per room. The buyer was BPH Group LLC a newly formed private investment group experienced in operating and ownership in other Southern California hospitality assets. The buyer assumed an existing securitized loan in the approximate amount of $16,400,000. The seller was Golden Capital Ventures LLC who acquired the property in 2015. The hotel has been re-named the Buena Park Grand Hotel and Suites and will be managed by Aimbridge Hospitality. The property will undergo major renovations over ...
OTO Development Acquires SpringHill Suites in Panama City Beach, Florida
OTO Development | December 1, 2021
SPARTANBURG, SC – December 1, 2021 – OTO Development is building its presence along the Florida Panhandle with the acquisition of SpringHill Suites Panama City Beach Beachfront. The deal complements the company’s construction of Hyatt Place Panama City Beach Beachfront, which is slated to open in Summer 2022. As part of The Johnson Group, OTO Development is headquartered in Spartanburg, South Carolina with a dynamic portfolio of hotels across the country. “TripAdvisor named Panama City Beach the #3 beach in the United States – and we certainly love it, too,” says Corry Oakes, CEO of OTO Development. “A long-time favorite for...
Linchris Acquires The Crowne Pointe Inn & Spa and The Brass Key Guesthouse
Linchris Hotel Corporation | November 24, 2021
PLYMOUTH, MA – November 24, 2021 – Linchris Hotel Corporation, today announced the acquisition of The Crowne Pointe Inn & Spa and The Brass Key Guesthouse in Provincetown, MA. The Crowne Pointe Inn & Spa is a 37-room hotel comprised of six beautifully restored historic buildings and features award-winning fine dining at The Pointe Restaurant and the exclusive Kiehl’s Shui Spa. The Brass Key Guesthouse is a 43-room hotel and a unique haven of nine historically restored buildings enclosing a terraced courtyard, infinity edge pool, and oversized in-ground spa. The beautifully landscaped private enclave is unlike any other ...
Dreamscape Companies Acquire The Saint Hotel Charleston
Dreamscape | November 19, 2021
New York, NY — November 19, 2021 — Dreamscape Companies, founded by real estate industry veteran Eric Birnbaum, today announces its acquisition of The Saint Hotel Charleston, a boutique hotel situated in the heart of the city’s historic French Quarter, centered in Downtown Charleston. The purchase of The Saint Hotel Charleston comes on the heels of several recent acquisitions in key regional markets and illustrates the company’s commitment to its target goal of $1 billion in acquisition over the next 24 months. This acquisition also signifies Dreamscape’s first point of entry into Charleston, a market that has continued to boom a...
Revinate Acquires Go Moment
Revinate | November 18, 2021
The strategic acquisition creates a single CDP that seamlessly powers omni-channel guest lifecycle communications and commerce for hoteliers, making it the ultimate direct booking platform for the global hospitality industry San Francisco, CA — 11/18/2021 — Revinate, a leader in omni-channel direct booking platforms for the hospitality industry, announced today it has acquired Go Moment, an AI-driven, commerce-enabled messaging solutions provider for the hospitality industry. The combined company will be called Revinate. Together, the companies’ focus continues to be enabling hoteliers to synthesize and activate their guest data int...
Highline Hospitality Acquires Salt Lake City Marriott University Park
Highline Hospitality Partners | November 17, 2021
NEW YORK – November 17, 2021 – Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has added its fifth property with the off-market acquisition of the 218-room Salt Lake City Marriott University Park and has tapped Stepstone Hospitality to manage the property. Highline Hospitality Partners' team has over 60 years of combined experience across sourcing, purchasing, asset-managing, renovating, repositioning, and selling hospitality properties and has operated all classes of hotels. "We are pleased to add the Salt Lake City Marriott University Park to our grow...
Peachtree Hotel Group Acquires Two Hotels in California in Partnership With Verakin Capital
Peachtree Hotel Group | November 16, 2021
ATLANTA, GA – November 16, 2021 – Peachtree Hotel Group ("Peachtree"), in its first joint venture partnership with Verakin Capital ("Verakin"), announced the acquisition of the 81-key Hampton Inn & Suites and the 60-key La Bellasera Hotel & Suites, in Paso Robles, California. Peachtree Hospitality Management ("PHM"), a division of Peachtree, will operate the properties. The Hampton Inn & Suites and La Bellasera Hotel & Suites were developed in 2003 and 2007, respectively, and are located at 206-212 Alexa Court in Paso Robles, which is in the heart of the state's central coast and proximate to over 40,000 acres of viney...
Innisfree Hotels Acquires Holiday Inn in Surfside Beach, SC in Partnership With RREAF Holdings
INNISFREE HOTELS | November 16, 2021
Myrtle Beach, SC – November 16, 2021 – Hotel developer and management company Innisfree Hotels, in partnership with RREAF Holdings, announces its recent acquisition of the Holiday Inn Oceanfront, located in Surfside Beach, South Carolina. “RREAF owns several beachfront hotels in the Southeast and continues to actively seek out similar opportunities in the region,” says Rob Steinwedell, Director of Hospitality Acquisitions, Dallas-based RREAF Holdings. “Our investment thesis is built on the belief in a strong recovery from the COVID crisis while catering to the local community by providing excellent accommodations at affordabl...
Goldman Sachs Asset Management and Cedar Capital Partners Acquire The Belfry Hotel & Resort from KSL Affiliate
Goldman Sachs Asset Management | November 15, 2021
London – November 15, 2021 – Goldman Sachs Asset Management and Cedar Capital Partners today announced the acquisition of The Belfry Hotel & Resort (“The Belfry”) located near Birmingham in the United Kingdom from an affiliate of KSL Capital Partners. The Belfry with its three 18-hole golf courses is a four-time host of the Ryder Cup, the biennial golf competition between U.S and European teams. Situated within a substantial 550 acre estate, the full-service resort further features 320 guest rooms, five restaurants, a spa and multiple leisure amenities. Nabil Aquedim, Executive Director in the Real Estate team at Goldman Sac...
Cloud5 Communications Acquires Mid-America Telephone Systems (MTS)
Cloud5 Communications | November 15, 2021
Leading Provider of Communications Solutions and Managed IT Services Launches aggressive M&A Strategy with first acquisition. Chicago, IL — November 15, 2021 — Cloud5 Communications, a leading provider of communications solutions and Managed IT Services for more than 5,000 hotels, MDUs, and commercial facilities across the Americas, today announced the acquisition of Mid-America Telephone Systems (MTS). MTS, located in the St. Louis area, has a long history of success in providing HSIA, telephony systems, and in-room entertainment to the hospitality industry with a focus on economy brands, mid-market properties and independent hot...
