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
Highline Hospitality Partners Acquires Kansas City Marriott Hotel Downtown
Highline Hospitality Partners | November 11, 2021
NEW YORK , NY – November 11, 2021 – Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has added its fourth property with the acquisition of the 970-room Kansas City Marriott Hotel Downtown in Missouri and tapped Aimbridge Hospitality, a leading global hospitality company, 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 delighted to add the Kansas City Mar...
Genesis Hospitality Acquires Iconic Lambertville Station Restaurant and Inn
Lambertville Station | November 9, 2021
LAMBERTVILLE, N.J. – November 9, 2021 – Genesis Hospitality, headquartered in Hamilton, New Jersey, announced the addition of the legendary Lambertville Station Restaurant and Inn located in Lambertville, New Jersey, to its collection of historic inns. Nestled on the banks of the Delaware River, this iconic property is a riverfront destination offering the region's largest luxury boutique hotel and fine dining restaurant. Its pampered guests find themselves steps away from Lambertville's quaint downtown boutiques, restaurants, antique shops, and art galleries. The Lambertville Station Restaurant and Inn's spectacular, five-acre pro...
Waramaug Acquires Radisson Hotel Lansing
Waramaug Hospitality | November 8, 2021
Dallas, TX — November 8, 2021 — Waramaug Hospitality, a privately held investment firm focused on premium-branded select-service and full-service hotels, announced today it acquired the Radisson Hotel Lansing at the Capitol in Lansing, Michigan. The 256-room property is the only full-service hotel in downtown Lansing. It features an oversized lobby, onsite restaurant and bar, fitness center, two-story indoor pool, and over 10,000 square feet of meeting and function space. The second floor of the Radisson Hotel Lansing connects to the Lansing Center, the city-owned 125,000 square foot convention center. “The Radisson fits well in...
Barings and Hines Acquire Reed District Site in Nashville, Tennessee
Hines | November 5, 2021
CHARLOTTE, N.C. and HOUSTON – November 5, 2021 – Barings, one of the world's leading investment managers, and Hines, the international real estate firm, announced they have formed a joint venture partnership to acquire the Reed District site in Nashville for the future development of a 2.7-million-square foot multi-phased mixed-use project. Reed District represents a distinctive investment opportunity to transform a 12-acre gateway site in Midtown Nashville into a locally focused, mixed-use destination with music, art, food and entertainment-oriented uses. The project will draw from the historic character of the approximately 100-yea...
MCR Acquires the Courtyard by Marriott Oxford at Ole Miss
MCR | November 4, 2021
NEW YORK – November 4, 2021 – Are you ready? MCR — the country’s 4th-largest hotel owner-operator — has acquired the 121-room Courtyard by Marriott Oxford in Mississippi. This is the company’s first hotel in The Magnolia State. Just a sprint from the University of Mississippi’s campus, the Courtyard by Marriott Oxford is a mile from The Grove, described as “the Holy Grail of tailgating sites” by Sporting News. Get your tickets for a home game at the famed Vaught-Hemingway Stadium — where former Ole Miss quarterback Eli Manning set 45 school records. Don your bow ties and Sperry Top-Siders and cheer with 64,000 fans ...
Noble Acquires the Homewood Suites by Hilton Salt Lake City | Downtown
Noble Investment Group | November 4, 2021
Atlanta, Georgia – November 4, 2021 – Noble Investment Group ("Noble") today announced the acquisition of the Homewood Suites by Hilton Salt Lake City | Downtown prominently located in Salt Lake City's central business and entertainment district. Salt Lake City is one of the fastest-growing cities in the country and ranks as the number one job market in the U.S. Downtown Salt Lake City is anchored by more than 15 million square feet of office. It is home to numerous corporate headquarters, including Zions Bancorporation, Questar Corporation, and the most prominent Goldman Sachs presence outside of New York City. The downtown also boa...
OTO Development to Acquire Three Hotels in Oakhurst, California
OTO Development | November 4, 2021
SPARTANBURG, SC – November 4, 2021 – OTO Development is moving into the Yosemite National Park market with the acquisition of two hotels in Oakhurst, California, and a contract on a third. OTO, which is part of The Johnson Group, has purchased Fairfield Inn & Suites by Marriott Oakhurst Yosemite and Holiday Inn Express & Suites Oakhurst-Yosemite Park Area from a family of independent hoteliers. The seller was represented by Stanley Wang of Marcus & Millichap. The deal also includes Hampton Inn Oakhurst-Yosemite, which is currently under construction. The three hotels sit adjacent to each other and are located just 13 ...
Dynamic City Capital Acquires Dual-Branded Florida Hotels
Dynamic City Capital | November 3, 2021
PROVO, Utah – November 3, 2021 – Dynamic City Capital (DCC), a Utah-based real-estate investment firm, announced the acquisition of two hotels, the Residence Inn by Marriott Clearwater Beach and the Springhill Suites by Marriott Clearwater Beach. The two Clearwater Beach, Florida hotels together have 255 rooms, and are located on the water's edge overlooking Clearwater Bay. "We are pleased to add these quality Marriott properties to our portfolio. The brands, market, and location are an exceptional fit for our portfolio," commented Cory Turner, DCC's Co-Managing Partner. "Our team continues to work hard to identify best...
Hyatt Completes Acquisition of Apple Leisure Group
Hyatt Hotels Corporation | November 2, 2021
CHICAGO – November 2, 2021 – Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has completed the previously announced acquisition of Apple Leisure Group® (ALG), a leading luxury resort-management services, travel and hospitality group, from affiliates of each of KKR and KSL Capital Partners, LLC. Hyatt is doubling its global resorts footprint through the addition of ALG’s AMR™ Collection brand portfolio, which comprises approximately 100 hotels and resorts operating in 10 countries, as well as a pipeline of 24 executed deals in the Americas and Europe. As a result, Hyatt now offers one of the largest collections of l...
Sanctuary Camelback Mountain Resort and Spa Changes Ownership
BB Hotels | November 2, 2021
Scottsdale, AZ – November 2, 2021 – Today, Gurney’s Resorts announces the acquisition of Sanctuary Camelback Mountain Resort and Spa in Paradise Valley, Arizona. Scottsdale-based real estate investment company BB Hotels (formerly Berger Holdings) has partnered with New York-based Metrovest Equities and BLDG MGMT to purchase the iconic resort in Paradise Valley. The transaction is expected to close in early November. Financial terms of the transaction were not disclosed. Robert H. Castellini has owned Sanctuary Camelback Mountain Resort and Spa since 1992 and was responsible in concert with Westroc Hospitality for transforming Sanctu...
Innisfree Hotels Acquires Boutique Waterfront Hutchinson Island Plaza Hotel & Suites
INNISFREE HOTELS | November 2, 2021
Hutchinson Island, FL – November 2, 2021 – Beach Front hotel owner/operator Innisfree Hotels, in partnership with RREAF Holdings, announces its October 19 acquisition of the Hutchinson Island Plaza Hotel & Suites, formerly known as the Sandhurst Hotel & Suites. The 70-room boutique property includes waterfront suites, a private inlet beach, and direct access to inshore and offshore fishing. Located on the sandy shores of South Hutchinson Island where the dunes of Fort Pierce Inlet meet Tucker Cove, the hotel is just steps away from nearby businesses and attractions, including The US Navy Seal Museum and local wildlife observation...
MCR Purchases the Lakeside Residence Inn by Marriott Seattle Sea-Tac Airport
MCR | November 1, 2021
NEW YORK – November 1, 2021 – Business is going swimmingly! MCR — the country’s 4th-largest hotel owner-operator — has acquired the newly built 170-suite Residence Inn by Marriott Seattle Sea-Tac Airport in Washington. The hotel is 10 minutes from the 146-room Residence Inn by Marriott Seattle South/Renton that MCR acquired in June of this year. If a vacation in the Pacific Northwest floats your boat, fly to Seattle-Tacoma International Airport and head three miles to our extended stay hotel in the city of SeaTac, halfway between Seattle and Tacoma. Only 10 square miles, SeaTac boasts the community of Angle Lake — and the Re...
Soul Community Planet Acquires Hotel Seven4one in Laguna Beach, California
Soul Community Planet | October 28, 2021
LAGUNA BEACH, CA – October 28, 2021 – Soul Community Planet (SCP) announced today its acquisition of Hotel Seven4one, a boutique hotel located in Laguna Beach, Calif. The acquisition marks the second California property and seventh acquisition in the rapidly growing SCP portfolio. The boutique property, which is located at 741 South Coast Highway in Laguna Beach, features 12 rooms, including two suites with kitchenettes. The property is ideal for buyouts, retreats, or for individual room reservations and also features an outdoor courtyard with fireplace, living wall, as well as a second story sundeck with panoramic ocean views. &nbs...
Certares Acquires Embassy Suites Atlanta Midtown in Partnership With Highlands Investments and Monomoy Property Ventures
HEI Hotels & Resorts | October 25, 2021
NEW YORK – October 25, 2021 – Certares Management LLC a leading investment specialist dedicated to the travel, tourism and hospitality sectors (together with its affiliates, "Certares"), in partnership with Highlands Investments LLC ("Highlands") and Monomoy Property Ventures LLC ("MPV"), today announced the acquisition of the 181 key, new-build Embassy Suites Atlanta Midtown located at 290 17th Street NW in Midtown Atlanta, Georgia. The deal also included the acquisition of an adjacent land parcel and an income-producing parking component. Located in the Atlantic Station area of Midtown, the all-suites property features a lobby ...
RLJ Lodging Trust Acquires AC Hotel by Marriott Boston Downtown for $89M
RLJ Lodging Trust | October 25, 2021
BETHESDA, MD – October 25, 2021 – RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that it has acquired the fee simple interest in the recently constructed 205-room AC Hotel by Marriott Boston Downtown (the “Hotel”) for a purchase price of $89.0 million, or approximately $434,000 per key. The purpose-built hotel opened in 2018 and is located within the mixed-use Ink Block development in Downtown Boston. Upon stabilization the Hotel is expected to generate 7.5% to 8.0% NOI yield. The Company funded the acquisition with existing cash on its balance sheet. “We are pleased to expand our footprint in Boston Downtown by ...
Pebblebrook Hotel Trust Acquires Avalon Bed & Breakfast and Duval Gardens in Key West, FL for $20M
Pebblebrook Hotel Trust | October 21, 2021
BETHESDA, MD – October 21, 2021 – Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it acquired the 19-room Avalon Bed & Breakfast (“Avalon”) and 12-room Duval Gardens (“Duval”), both in Key West, Florida, for $20.0 million. The two well-maintained properties will be consolidated and operated as part of the Company’s Southernmost Beach Resort (“Southernmost”) and managed by Highgate, which currently manages the Company’s two Key West resorts, Southernmost and The Marker Key West Harbor Resort. Avalon and Duval have highly desirable locations along the vibrant Duval Street, which showcases ...
The Emerald Collection Doubles in The Maldives With 2022 Debut of Emerald Faarufushi Resort & Spa
October 21, 2021
The Emerald Collection - the luxury resort group behind Emerald Maldives Resort & Spa - is delighted to announce its exciting expansion with the acquisition of Emerald Faarufushi Resort & Spa. A luscious 7-hectare private island in the Raa Atoll, framed by one of the Maldives’ most languid and extensive lagoons of 100-hectares. Emerald Faarufushi Resort & Spa will open on May 1st, 2022 and it is currently in the process of affiliation with The Leading Hotels of the World. “We are thrilled to announce the acquisition and launch of our second property in the Maldivian archipelago, Emerald Faarufushi Resort & Spa ...
Monarch Alternative Capital Acquires The Westin Minneapolis
Monarch Alternative Capital LP | October 20, 2021
NEW YORK and LONDON – October 20, 2021 – Monarch Alternative Capital LP, a leading investment firm with approximately $9 billion of assets under management, today announced the purchase of the Westin Minneapolis in Minnesota in partnership with HEI Hotels & Resorts. Through its existing real estate presence and deep relationships in the Minneapolis market, Monarch was able to acquire a leading hotel at a significant discount to historical transactions in an off-market purchase due to disruption caused by the pandemic. The Westin Minneapolis acquisition, Monarch's twelfth hotel purchase in 2021, highlights the firm's continue...
The Athens Group and MSD Partners Acquire Naples Beach Hotel & Golf Club
The Athens Group | October 18, 2021
NAPLES, Fla., Oct. 18, 2021 /PRNewswire/ -- The Athens Group and MSD Partners, L.P. announced today that they have acquired the legendary former Naples Beach Hotel & Golf Club, set on 1,000 feet of white-sand beach in iconic Old Naples. Athens and MSD will be redeveloping the site into the Naples Beach Club, a 125-acre resort and residential beachfront development offering a one-of-a-kind, luxury lifestyle destination to residents, members, and guests. This special coastal community will include a 216-room hotel managed by leading luxury hospitality company Four Seasons Hotels and Resorts, up to 185 luxury residences and unparalleled c...
Tampa’s Iconic Floridan Palace Hotel Purchased by Affiliates of 1754 Properties
1754 Properties LLC | October 11, 2021
Tampa, FL – October 11, 2021 – 1754 Properties, LLC, an institutional owner, operator and lender of hotels and other real estate based in Weston, Florida, has announced its acquisition of the 212-room Floridan Palace Hotel in downtown Tampa in partnership with Triangle Capital Group. The sale was completed Oct. 7 and includes the 3/4-acre parking lot site at 505 E. Taylor Street in Tampa’s North Downtown neighborhood, locally known as NoDo. The NoDo area has become the epicenter of culture and nightlife in downtown Tampa with a growing collection of popular bars, clubs, restaurants, and attractions, including the Straz Performing Arts C...
Highgate Expands UK Portfolio With Addition of Two Properties
HIGHGATE | October 7, 2021
London, UK – October 7th, 2021 – Highgate, a leading real estate investment and hospitality management company, has announced two new additions in the UK market – the acquisition of Dorsett City London Hotel and the management of Grosvenor House Suites in London’s Mayfair District. The additions mark Highgate’s return to the UK and European markets and the company’s confidence for tourism and business travel to return. “Highgate’s philosophy over three decades of investing in Europe has been to acquire well-located real estate at discounts to replacement cost, and to pursue opportunities where Highgate has a distinc...
KSL Capital Partners Acquires Four Points by Sheraton Sydney, Central Park
KSL Capital Partners | October 6, 2021
SYDNEY – October 6, 2021 – KSL Capital Partners, LLC (KSL) announced today that an affiliate of KSL has acquired the Four Points by Sheraton Sydney, Central Park for an undisclosed amount. It will continue to be operated by Marriott International under the Four Points by Sheraton brand. While KSL has already invested in Ballie Lodges in Australia, this is KSL’s first investment in Sydney. “KSL Capital Partners’ primary focus is to invest in high-quality travel and leisure properties with outstanding management teams,” said Siddhant Jhunjhunwala, Vice President, KSL. “Sydney is one of the strongest long-term Asia Pacific touri...
Driftwood Capital Acquires The Wylie Hotel in Atlanta’s Old Fourth Ward
Driftwood Capital | October 6, 2021
ATLANTA, GA – October 6, 2021 – Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has acquired The Wylie Hotel, a brand new, 111-key boutique hotel in Atlanta’s historic Old Fourth Ward neighborhood. The property, which opened in May 2021, is the only independent boutique hotel in Midtown’s booming office and lodging market. Driftwood will maintain the current operator following acquisition. “This was an exceptionally rare opportunity to purchase an institutional-quality, unencumbered independent hotel asset, in a...
Soul Community Planet Acquires Iconic Laguna Riviera Beach Resort
Soul Community Planet | October 5, 2021
SAN JUAN CAPISTRANO, CA – October 5, 2021 – Soul Community Planet (SCP) announced today the acquisition of the 41-room, beachfront Laguna Riviera Beach Resort (Laguna Riviera). The historic Laguna Beach hotel marks SCP’s first expansion into California, and its sixth hotel overall. The acquisition advances SCP’s plan to expand its footprint into communities that align with SCP’s healthy, kind, green values. Opened in 1948, the Laguna Riviera is located directly on the beach just two blocks south of Downtown Laguna Beach. Described as a part French Riviera and part Mediterranean retreat, the resort boasts scenic coastal views,...
