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 Hyatt Place Austin | Round Rock
Noble Investment Group | October 5, 2021
Atlanta, Georgia – October 5, 2021 – Noble Investment Group (“Noble”) today announced the acquisition of the Hyatt Place Austin | Round Rock. Developed in 2017, the 138-room hotel is located in Round Rock, Texas, a prominent northern artery of Austin, one of the strongest real estate markets in the country. A highly diversified mix of leisure demand and pro-business climate has made Austin one of the fastest-growing cities in the U.S. and the No. 1 U.S. City for Net Migration in 2020. Austin is considered one of the nation’s dominant tech hubs alongside Silicon Valley, with numerous high-profile corporate relocations and exp...
Closing of Joint Venture Between Accor & Ennismore
Ennismore | October 4, 2021
The Newly Established Lifestyle Entity Named Ennismore Becomes The Largest & Fastest Growing Lifestyle Hospitality Company As previously announced, under terms of an all-share merger, Accor becomes the majority owner of the new entity with 66.67% of the shareholding and Sharan Pasricha with 33.33% holding. This joint venture brings together the Ennismore know-how in building brands with purpose through creative storytelling, design and authentic experiences with Accor’s wealth of knowledge in delivering scale, network growth and distribution. Simultaneously, Accor deconsolidates formerly leased assets into a separate structure cr...
Morpho Hotels and Resorts Debuts in USA With Acquisition of Hotel Rodeway Inn, Nebraska
| October 4, 2021
NEW YORK – October 4, 2021 – Gurugram, India based hospitality firm, Morpho Hotels and Resorts India Pvt. Ltd. in partnership with Upjeet Singh Sahota have founded Morpho Hotels and Resorts USA LLC based in New York. With the acquisition of the Rodeway Inn, a Choice Hotel in the city of Holdrege, Nebraska, thereby taking their first step towards Morpho Hotels vision of expanding in USA and select strategic International markets via owned and managed assets. Rodeway Inn Holdrege, Nebraska, a Choice Gold Award winner for 2020 and 2021, is a 40 keys Choice Hotel with an indoor whirlpool, indoor temperature control swimming pool, gymnasium...
Wheelock Street Capital Acquires The Ben – West Palm Beach
Wheelock Street Capital | October 4, 2021
WEST PALM BEACH, Fla.--October 4, 2021--Wheelock Street Capital announced it has acquired The Ben - West Palm Beach, a 208-room Marriott soft-branded, luxury hotel located at 251 N Narcissus Avenue in West Palm Beach, FL. Purpose-built in 2020 as Marriott Autograph Collection's first hotel in Palm Beach County, the 208-room property serves as the centerpiece of Flagler Banyan Square, a 435,000 square foot mixed-use lifestyle project. Conveniently located steps away from downtown West Palm Beach, the development features residential, dining, retail, and other amenities, while The Ben features a full-service restaurant, 7800 square feet of e...
Timbers, Wheelock Street Capital and Ronto Group Announce Joint Acquisition of the South Seas Island Resort on Captiva, Florida
the Timbers Company | October 1, 2021
WINTER PARK, FL – October 1, 2021 – Timbers Company, Wheelock Street Capital and The Ronto Group are pleased to announce the joint acquisition of South Seas Island Resort on Florida's Gulf Coast. The notable acquisition of this historic property supports Timbers Company's continued plans for growth as announced earlier this year. "At Timbers Company, we are actively looking for exceptional properties like South Seas Island Resort to diversify our offerings and expand our footprint. For more than two decades, we have been successfully developing, selling and operating master-planned resorts around the world and are delighted to...
Terrapin Hospitality Announces Acquisition of K Partners
Terrapin Hospitality | September 29, 2021
Houston, TX — September 29, 2021 — Terrapin Hospitality, one of the nation’s fastest-growing hotel management companies, announced the acquisition of K Partners, a leading third-party hotel management company located in San Antonio, Texas. With the completion of the acquisition, Terrapin now boasts a portfolio of 70 managed properties comprising 7,335 rooms in 13 states from Oregon to Florida and New York. Terrapin and its affiliates have an ownership interest in 30 of the properties. “This acquisition was a natural fit,” explains Tony Sherman, Founder and Principal, Terrapin Hospitality. “Both companies share a similar focus and...
Affiliates of Paceline Equity Partners Acquire Two Hotels in Charlotte, North Carolina
Paceline Equity Partners | September 28, 2021
DALLAS, TX - September 28, 2021 - Affiliates of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced that they have acquired two limited-service hotels in the Charlotte Metro Area, the Holiday Inn Express & Suites Charlotte Ballantyne and the TownePlace Suites Charlotte Fort Mill. The Holiday Inn Express & Suites Charlotte Ballantyne hotel was built in 2019 and is a 123-room limited-service hotel with amenities including an outdoor pool, meeting space and fitness center. Located in the Ballantyne area of Charlotte, North Carolina, the hotel is conveniently situated along Route 521 o...
Pebblebrook Hotel Trust Acquires Florida’s Margaritaville Hollywood Beach Resort for $270M From KSL Capital Partners
Pebblebrook Hotel Trust | September 27, 2021
BETHESDA, MD – September 27, 2021 – Pebblebrook Hotel Trust today announced that it acquired the 369-room oceanfront Margaritaville Hollywood Beach Resort in Hollywood, Florida for $270 million from an affiliate of KSL Capital Partners, LLC. The lifestyle resort will continue to be managed by Davidson Hospitality Group (“Davidson”). Margaritaville Hollywood Beach Resort, the flagship property to an internationally recognized brand synonymous with a casual-luxe lifestyle, is located on 6.2 oceanfront acres, along 450 linear feet of direct beach frontage, and is the focal point of the famous Hollywood Beach Broadwalk. The resort wa...
McWhinney Acquires the 244-Key Austin Proper Hotel in Austin Texas
McWHINNEY | September 27, 2021
Denver, CO — September 27, 2021 — McWhinney, a national real estate investment, development and management firm with expertise in commercial, multifamily, hospitality, residential and mixed-use assets, has acquired the luxurious Austin Proper Hotel in Austin, Texas. Terms of the transaction were not disclosed. Developed by the Kor Group, the 32-story award-winning Austin Proper Hotel & Residences opened in December 2019 and is located in the heart of downtown Austin’s 2nd Street District, just steps from Lady Bird Lake and the legendary Austin City Limits music venue. Designed by iconic interior designer Kelly Wea...
Lowe Joint Venture Acquires Three Hotels In The Woodlands® From The Howard Hughes Corporation®
LOWE | September 16, 2021
THE WOODLANDS, TX - September 16, 2021 - A joint venture between Lowe and an institutional investor announced today its acquisition from The Howard Hughes Corporation of three hospitality assets located in The Woodlands®, a 28,500-acre award-winning master planned community in the greater Houston area. The Woodlands Resort; The Westin at The Woodlands; and Embassy Suites by Hilton, The Woodlands at Hughes Landing were purchased for $252 million and will continue to be managed by Lowe's hospitality management subsidiary, CoralTree Hospitality, which took over management of the properties in September of 2020. Lowe will immediately begi...
Friedman Capital Acquires The Graham Hotel in Georgetown’s Historic District
The Graham Hotel in Georgetown | September 16, 2021
Washington, D.C. – September 16, 2021 — Friedman Capital — a D.C.-based, family-run private equity investment firm with fully integrated residential, commercial and hospitality divisions — today announced the acquisition of The Graham Hotel located within Georgetown’s Historic District. Friedman Capital and its hospitality management arm the Anasazi Group will serve as the hotel’s owner, operator and manager, and will be enhancing its all-around guest experience with luxury amenities and capital improvements to deliver on the property’s full potential. In a savvy market deal, in part due to pandemic market effects, Friedman Capi...
Apple Hospitality REIT Acquires the Aloft Portland, Maine for $51.2M
Apple Hospitality REIT, Inc. | September 14, 2021
RICHMOND, VA - September 14, 2021 - Apple Hospitality REIT, Inc. today announced the acquisition of the 157-room Aloft Hotel on the waterfront in downtown Portland, Maine (the “Hotel”), for a total purchase price of $51.2 million, or approximately $326,000 per key. “We are pleased to expand our portfolio with the acquisition of the newly constructed Aloft Portland, Maine and increase our exposure to the unique and vibrant Portland market,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “In addition to Portland’s tremendous appeal for leisure travel, the market is also home to a variety of corpo...
AWH Partners, The Roxborough Group Acquire San Francisco’s Historic Villa Florence
AWH Partners, LLC | September 14, 2021
NEW YORK — September 14, 2021 — An affiliate of AWH Partners, LLC and The Roxborough Group, LLC has acquired the Villa Florence Hotel and retail in San Francisco for $87.5 million. The partnership plans a full repositioning of the property, including a renovation of all 189 guestrooms as well as the lobby and ground-floor restaurant. The hotel also includes more than 10,000 square feet of valuable retail along Powell and O’Farrell Streets. Spire Hospitality has taken over management of the property. “We had to move quickly in order to buy this hotel outside of a traditional marketing process,” said Chad Cooley, co-f...
OTO Development Acquires 150-Room DoubleTree by Hilton Cocoa Beach
OTO Development | September 10, 2021
SPARTANBURG, SOUTH CAROLINA (Friday, September 10, 2021) — OTO Development has added DoubleTree by Hilton Cocoa Beach Oceanfront to its growing portfolio. South Carolina-based OTO Development, which is part of The Johnson Group, acquired the DoubleTree by Hilton in Cocoa Beach, Florida, from Pandey Hotel Group of New Zealand. The transaction — brokered by Paul Weimer, Christian Charre, Jennifer Jin and Andrew Pastorino, all of CBRE Hotels — closed on Thursday, September 9. This Space Coast hotel is the sixth oceanfront property OTO has purchased since Q4 2018. “We got our feet wet a few years ago in Key West, where we discov...
MCR Purchases the Hilton Garden Inn Missoula in the Heart of Montana
MCR | September 9, 2021
NEW YORK — September 9, 2021 — Now gambling on Mountain Time! MCR — the country’s 4th-largest hotel owner-operator — has acquired the 146-room Hilton Garden Inn Missoula in the heart of the northern Rockies. The hotel is in the growing city of Missoula, just down the road from Missoula International Airport. If you’re searching for a nature-filled getaway this fall, look no further! Big Sky Country is the place for you. Missoula, known as the Garden City for its lush green landscape, attracts travelers from across the globe each year for its outdoor activities. With more than 400 acres of parkland, 22 miles of trails and ...
Apple Hospitality REIT Acquires Hyatt Place in Greenville, South Carolina for $30M
Apple Hospitality REIT, Inc. | September 7, 2021
RICHMOND, Va. - September 7, 2021 - Apple Hospitality REIT, Inc. today announced the acquisition of the 130-room Hyatt Place in downtown Greenville, South Carolina (the “Hotel”), for a total purchase price of approximately $30 million, or approximately $231,000 per key. “Greenville has benefited from the recent shift of companies to smaller, more business-friendly cities and is home to numerous corporations and startups that span a variety of industries,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “We are pleased to grow our portfolio with the acquisition of this recently built Hotel ...
Aimbridge Hospitality Adds Four Properties to Portfolio
Aimbridge Hospitality | August 27, 2021
Plano, TX – August 27, 2021 – Aimbridge Hospitality, the leading, global, third-party hotel management company, announced that it has added four new properties to its growing portfolio. With the addition of these new properties, Aimbridge has grown its collection of hotels throughout South Carolina, North Carolina, and Ohio. This acquisition adds to the growing partnership between Aimbridge and owners Three Wall Capital, who have now selected Aimbridge to manage 59 of its extended stay and full service properties. Founded by Alan Kanders, Three Wall Capital is a hospitality equity and debt investment group for institutional and individ...
Arbor Lodging Partners Acquires AC Hotel Phoenix Downtown
ARBOR LODGING | August 27, 2021
Chicago, IL – August 27, 2021 – Chicago-based hotel investment and management company, Arbor Lodging Partners, is proud to announce today its latest acquisition and first expansion into the Phoenix market, with AC Hotel Phoenix Downtown. Located in the lively, bustling downtown that has been experiencing rapid growth and development in recent years, the AC Hotel Phoenix Downtown boasts 199 luxurious rooms and suites, along with its AC Lounge and the AC Kitchen, which offers a European-Style breakfast and can also accommodate special culinary events; along with various meeting spaces for the return of business travel. With this latest ac...
Recently Launched RADCO Hotel Division Acquires DoubleTree by Hilton Atlanta Roswell in Off-Market Deal for $13.75M
The RADCO Companies | August 27, 2021
Atlanta, GA – August 27, 2021 – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the acquisition of the 174-room, full-service DoubleTree by Hilton Atlanta Roswell hotel in Roswell, GA for $13.75 million from a real estate fund divesting of hospitality assets. The seven-story property was constructed in 1985 and consists of 76 double-double and 98 king rooms, ±7,800 SF of meeting space, a full-service restaurant and bar, fitness center, mini market and outdoor pool. RADCO plans to modernize and upgrade the hotel, similar to the capital improvement strategies the company has app...
Apple Hospitality REIT Acquires AC Hotel by Marriott in Portland, Maine for $66.8M
Apple Hospitality REIT, Inc. | August 24, 2021
RICHMOND, Va. - August 24, 2021 - Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the 178-room AC Hotel by Marriott in Portland, Maine (the “Hotel”), for a total purchase price of approximately $66.8 million, or approximately $375,000 per key. “We are pleased to expand our presence in the vibrant Portland market, which benefits from a variety of demand generators, including leisure, corporate, health care, government and education,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “With the acquisition of the AC Hot...
The Siegel Group Nevada Acquires Motel 6 New Orleans and Studio 6 New Orleans
The Siegel Group Nevada, Inc. | August 23, 2021
LAS VEGAS - August 23, 2021 - The Siegel Group Nevada, Inc., a real estate investment and management company, announced today that it had acquired two properties previously operated as the Motel 6 New Orleans and Studio 6 New Orleans. This acquisition increases the number of Siegel Suites® (www.siegelsuites.com) and Siegel Select® (www.siegelselect.com) properties throughout the United States to over 60 and marks the brand’s fifth location in the Louisiana market. These locations are in addition to the company’s significant presence throughout Nevada, Arizona, Texas, New Mexico, Tennessee, Mississippi, Alabama, South Carolina and Ohio...
Hyatt to Acquire Apple Leisure Group From KKR and KSL Capital Partners Affiliates for $2.7 Billion
Hyatt Hotels Corporation | August 16, 2021
Acquisition accelerates asset-light transformation; launches Hyatt’s commitment to sell additional $2 billion of hotel assets by the end of 2024; Doubles Hyatt’s global resorts footprint with accretive net rooms growth over the coming years with global expansion of AMR Collection™ brands like Secrets®, Dreams® and Zoëtry®; Hyatt to Discuss Transaction on Webcast Scheduled for Monday, August 16 at 7:30 a.m. CDT CHICAGO – August 16, 2021 – Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has entered into a definitive agreement to acquire Apple Leisure Group...
Elise Capital Acquires Hampton Inn by Hilton Douglas in Georgia
Elise Capital | August 10, 2021
Atlanta, GA — August 10, 2021 — Elise Capital, a hotel real estate investment firm, announced the recent closing of its first hotel acquisition. The Hampton Inn by Hilton Douglas is located at 1604 S. Peterson Avenue in Douglas, Georgia. The property offers 61 guestrooms and completed a full renovation in 2019. The comfortable amenities and modern décor are supplemented by a daily complimentary hot breakfast buffet, an outdoor pool, a business center, and a fitness facility. "I am delighted to be acquiring the Hampton Inn Douglas and excited to watch this hotel reach its full potential," said Kendra Plummer, founding partner of E...
Flynn Properties and Värde Partners Form Joint Venture, Acquire 20 Select Service Hotels
Flynn Properties, Inc. | August 9, 2021
SAN FRANCISCO, CA and MINNEAPOLIS, MN – August 9, 2021 – Flynn Properties Inc., owner of commercial real estate, luxury resorts and select service hotel properties in America and abroad, in a joint venture with Värde Partners, a leading global alternative investment firm, today announced that it has acquired 20 select service hotels – 11 Marriott®- and nine Hilton®-branded locations – in a $211 million deal with Apple Hospitality REIT (NYSE: APLE), a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. The newly acquired ...
