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
Aimbridge Hospitality Acquires Grupo Hotelero Prisma in Mexico
Aimbridge Hospitality | June 2, 2021
PLANO, TX - June 2, 2021 - Aimbridge Hospitality, a leading, multinational hospitality company, will assume ownership of Grupo Hotelero Prisma, the largest third-party operator in the Mexico market. With this acquisition, Aimbridge Hospitality will gain Prisma's esteemed team as well as management of 42 properties with over 7,500 rooms throughout the country including Westin Monterrey, JW Marriott Monterrey, JW Marriott Guadalajara, and Tribute Tulum. This acquisition comes on the heels of Aimbridge Co-Founder Dave Johnson's transition from CEO to Executive Chairman, where he set out to develop the company's transformational growth. "We ar...
NexGen Hotels Acquires Four Points by Sheraton in Cleveland, Ohio
NexGen Hotels | June 2, 2021
CLEVELAND – June 2, 2021 – NexGen Hotels, a hotel development and management company based in Itasca, Illinois, today announced the acquisition of the Four Points by Sheraton Cleveland Airport. Catering to the needs of today’s everyday traveler, the recently renovated hotel offers approachable design, stylish comfort and all the brand’s popular extras including a 24-hour fitness center, a heated indoor swimming pool, fast and free Wi-Fi throughout the hotel, and the Best Brews program. Located at 4181 West 150th Street, the six-story Four Points by Sheraton Cleveland Airport is just two miles from Cleveland Hopkins International A...
Braemar Hotels & Resorts to Acquire The Mr. C Beverly Hills Hotel for $65.4 Million
Braemar Hotels & Resorts | June 1, 2021
DALLAS, June 1, 2021 Luxury hotel ideally located in close proximity to high-end shopping on Rodeo Drive and business demand from Century City and Culver City. The Company will issue 2.5 million units in its Operating Partnership ("OP units") and 500,000 warrants to the seller as part of the consideration for this acquisition, in addition to $30 million of cash (the majority of which will be used to paydown existing debt). Attractive price per key of $474,000 for fee simple ownership of a luxury hotel. Revenue per available room (RevPAR) of $251.14 for the 12 months ended December 31, 2019. Remington will take over hotel mana...
RIU Group Acquires TUI’s 49% Stake in 19 RIU Branded Hotel Properties
RIU | May 28, 2021
After this transaction, that also includes two hotels in development in Mexico and Senegal, RIU Group will hold 100% of the ownership of the properties RIU Group will acquire from TUI its 49% stake in 19 hotel properties which are operated under the RIU Hotels & Resorts brand and are located in four different continents, as well as two more hotels that are now under development. The Riu family already holds 51% stake of these properties and will now become its sole owner. The transaction has been approved today by TUI’s Supervisory Board and is valued at 670 million euros. Loyalty was paramount in the negotiations fo...
Paramount Lodging Advisors Arranges the Sale of the DoubleTree by Hilton St. Louis Airport Hotel
Paramount Lodging Advisors | May 25, 2021
St. Louis, MO—Paramount Lodging Advisors (PLA) has successfully sold the DoubleTree St. Louis Airport located at 4505 Woodson Rd. PLA Associates Beau Mullenix and Lora Simpson, and Senior Managing Director Adam Montufar represented the seller in this transaction. The sale of the 158-room hotel is the second property transacted by PLA in the St. Louis market to close this month. The DoubleTree by Hilton STL Airport recently underwent a comprehensive $5.5MM renovation and is ideally located directly South of St. Louis Lambert International Airport. "Selling a privately owned, full-service airport hotel during COVID is not an easy assign...
Wheelock Street Capital Acquires Perry Lane Hotel in Savannah, Georgia
Wheelock Street Capital | May 25, 2021
SAVANNAH, Ga.--Wheelock Street Capital announced it has acquired Perry Lane Hotel, a member of Marriott’s Luxury Collection brand, a 167-room soft-branded, luxury hotel located at 256 E Perry Street in Savannah, GA. Purpose built in 2018, the hotel features two 5-story towers featuring 167 guest rooms, including 12 suites, over 9,000 square feet of event space, three distinct food & beverage outlets along with rooftop terrace & pool and more than 1,200 distinct objects and works of art. The Property benefits from an exceptionally central location within the Savannah Historic District proximate to the Bull Street Corridor and Chip...
The Claremont to Reopen in Maine Following Acquisition and Renovation
The Claremont | May 24, 2021
SOUTHWEST HARBOR, ME (May 2021) — A New England grande dame ideally situated at the mouth of Somes Sound with easy access to Acadia National Park, The Claremont will welcome guests once again in May 2021 following an extensive transformation and under new ownership. One of Mount Desert Island’s most historic hotels, the six-acre shorefront property has provided a classic summer refuge to visitors seeking a quiet coastal respite dating back to 1884. The reimagined hotel will boast a total of 51 accommodations, including 12 cottages, four suites, a secluded three-bedroom waterfront haven and 34 guestrooms, an intimate spa, a heated swimming...
MCR Acquires Hilton Garden Inn Beaufort in South Carolina
MCR | May 19, 2021
NEW YORK--May 19, 2021--The latest member of the squadron! MCR — the country’s 4th-largest hotel owner-operator — has acquired the 115-room Hilton Garden Inn Beaufort in South Carolina’s beautiful Lowcountry region. The hotel is just a 40-minute drive to Hilton Head Island and less than an hour from the Spanish moss splendor of Savannah, Georgia. But the real action is minutes away at the U.S. Marine Corps Air Station, one of the only places in the world where pilots train to operate F-35B Lightning II jets, which can reach speeds of Mach 1.6 (that’s about 1,200 miles per hour in civilian language). Grab your aviators and practic...
Driftwood Capital Acquires Washington D.C. Metro Area Hotel
Driftwood Capital | May 19, 2021
The 316-room Hyatt Regency Fairfax will be rebranded as a full-service Hilton hotel Washington, D.C. (May 19, 2021) – Driftwood Capital, a vertically integrated commercial real estate investment, development, and lending platform specializing in hospitality, announced today that it has acquired the Hyatt Regency Fairfax, a 316-key hotel located in the Washington D.C. submarket of Fairfax, Virginia. The property was acquired for an undisclosed price. It will be managed by Driftwood Capital’s sister company, Driftwood Hospitality Management (DHM), a national hotel operator with over 20 years of expertise, and will be rebranded as a Hilto...
OTO Development Acquires the 122-room Courtyard by Marriott Los Angeles Woodland Hills
Courtyard By Marriott | May 12, 2021
SPARTANBURG, SC – May 12, 2021 – OTO Development is growing once again with its sixth acquisition in just three years, the purchase of the Courtyard by Marriott Los Angeles Woodland Hills. In the heart of the San Fernando Valley and just a short drive away from Hollywood, Los Angeles, Burbank, and Simi Valley, this hotel is well located close to Warner Center and area shopping and dining. Close to Pepperdine, CSUN, Kaiser Permanente Hospital and a short drive to Universal City, Hollywood, Downtown LA, Malibu and Santa Monica, this hotel is a perfect choice for business and leisure travelers alike. “This is an exciting addition t...
Kasada Capital Management to Acquire 414-key Safari Hotels & Conference Centre in Namibia
Kasada Capital Management | May 12, 2021
JOHANNESBURG & PORT LOUIS, Mauritius & WINDHOEK, Namibia - May 12, 2021 - Funds advised by Kasada Capital Management today announced the acquisition of the 414-key Safari Hotels and Conference Centre in Windhoek, Namibia. This transaction will be made through Kasada Hospitality Fund LP (“Kasada”) and remains subject to approval by the Namibian Competition Commission. The hotel complex is strategically located within ten minutes of Windhoek’s city center and adjacent to Eros Airport. It consists of the 215-key Safari Court Hotel, the 199-key Safari Hotel and Namibia’s foremost Meetings, Incentives, Conferencing, Exhibitions ...
NexGen Hotels Acquires SpringHill Suites by Marriott in Bolingbrook, Illinois
NexGen Hotels | May 11, 2021
Itasca, IL – May 11, 2021 – NexGen Hotels, a hotel development and management company based in Itasca, Illinois, today announced the acquisition of the 82-suite SpringHill Suites by Marriott Chicago Bolingbrook. The new owners plan a multimillion-dollar renovation to upgrade the interior and exterior starting in December 2021. General Manager Felecia Collier leads the management team at the property for NexGen Hotels. Located at 125 Remington Boulevard in Bolingbrook a suburb of Chicago, the three-story SpringHill Suites by Marriott Chicago Bolingbrook offers guests convenient access to Chicagoland Speedway, Harrah’s Casino, The Promen...
MCR Acquires the Staybridge Suites Cathedral City Palm Springs, an IHG Hotel, in California
MCR | May 10, 2021
NEW YORK - May 10, 2021 - Going once, going twice, sold! MCR — the country’s 4th-largest hotel owner-operator — won the foreclosure auction for the 197-room Staybridge Suites Cathedral City Palm Springs, an IHG Hotel, on the Corona City Hall steps on April 7, 2021 at 9:30 AM. The acquisition marks MCR’s expansion into the California market as the Staybridge Suites joins MCR’s portfolio of 110 hotels across 33 states. In the heart of the Coachella Valley, the all-suite hotel is just 10 minutes from Palm Springs Airport, 15 minutes from downtown Palm Springs and a two-hour drive to star-studded Los Angeles. If you’re searching ...
Linchris Capital Opportunity Fund, LP Acquires the Allegria Hotel in Long Beach, New York
Linchris Hotel Corp. | May 10, 2021
PLYMOUTH, MA – May 10, 2021 – Linchris Capital Opportunity Fund, LP (including its affiliates, the “Fund”), which is managed by an affiliate of Linchris Hotel Corp., today announced the acquisition of the Allegria Hotel in Long Beach, NY, the eighth investment by the Fund. The Fund makes investments in hotel properties in the midscale to upper-upscale tiers located in the United States. The 156-room, waterfront hotel is being acquired at a substantial discount to new construction cost and is the only full-service hotel in the market with diverse demand drivers and extremely high barriers to entry for future development. Located ...
MCR Purchases Homewood Suites by Hilton Dallas/Allen in Texas
MCR | May 6, 2021
NEW YORK - May 6, 2021 - Clear eyes, full hearts, can’t lose! MCR — the country’s 4th-largest hotel owner-operator — has acquired the 114-room Homewood Suites by Hilton Dallas/Allen. The all-suite hotel is in the growing Allen suburb just 30 minutes from downtown Dallas, Dallas Fort Worth International Airport and Dallas Love Field Airport. If you’re ready to get back to a football-filled season, the Dallas/Allen area is an ideal place to visit. In town to cheer on — or compete against — the Allen High School football team? The hotel is less than a 10-minute drive from the famed $60 million Eagle Stadium, where 18,000 fa...
Host Hotels & Resorts Acquires Four Seasons Resort Orlando at Walt Disney World Resort for $610 Million
Host Hotels & Resorts | May 6, 2021
BETHESDA, Md. - May 04, 2021 - Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced that it has acquired the fee simple interest in the 444-room Four Seasons Resort Orlando at Walt Disney World® Resort for approximately $610 million in cash. Located within Walt Disney World® Resort, one of the most visited destination resorts in the world, the hotel sits on 289 acres, provides complimentary transport to four Walt Disney World® Resort theme parks, and is the only AAA Five Diamond-rated hotel in Central Florida. James F. Risoleo, Pres...
The Siegel Group Acquires Former Amerihome Inn & Suites in Houston, Texas
The Siegel Group Nevada, Inc. | May 3, 2021
LAS VEGAS - May 3, 2021 - The Siegel Group Nevada, Inc., a real estate investment and management company, announced today that it had acquired the former Amerihome Inn & Suites located in Houston, Texas. This acquisition increases the number of Siegel Suites and Siegel Select properties throughout the United States to 60 and marks the brand’s third location in the Texas market. These locations are in addition to the company’s significant presence throughout Nevada, Arizona, Louisiana, New Mexico, Tennessee, Mississippi, Alabama, South Carolina and Ohio. The Siegel Group, which operates a sizable commercial real estate portfolio con...
Sunstone Hotel Investors Acquires the 130-Room Montage Healdsburg Resort for $265 Million
Sunstone Hotel Investors, Inc. | April 29, 2021
IRVINE, Calif. - April 29, 2021 - Sunstone Hotel Investors, Inc., the owner of Long-Term Relevant Real Estate® in the hospitality sector, today announced the acquisition of the fee-simple interest in the 130-room Montage Healdsburg (the "Resort"). The newly constructed luxury Resort, which was completed in December 2020, was acquired for a gross purchase price of $265 million. The acquisition was funded from cash on hand and through the direct issuance of $66 million of perpetual preferred equity (the "Series G Preferred Equity") to the seller, affiliates of Ohana Real Estate Investors ("Ohana" or the "Seller"). Upon stabilization, the...
Dreamscape Companies Acquires The Saint Hotel in New Orleans
Aimbridge Hospitality | April 8, 2021
PLANO, TX – April 8, 2021 – Dreamscape Companies, a real estate development and investment firm, has acquired The Saint Hotel in New Orleans and has engaged Aimbridge Hospitality, the leading, global, third-party hotel management company, as their operating partner to manage The Saint Hotel, Autograph Collection®. “We are very pleased to announce our acquisition of The Saint Hotel, Autograph Collection and our partnership with Aimbridge Hospitality. With their deep operating acumen and proven record of success, we are certain we will see a continued mutually beneficial relationship on this transaction,” said Eric Birnbaum, Founder &...
Commonwealth Hotels Acquires Hyatt House and Hyatt Place Chicago/Naperville/Warrenville
Commonwealth Hotels, LLC | April 6, 2021
COVINGTON, Ky. - April 6, 2021 - Commonwealth Hotels is excited to announce the acquisition of the Hyatt House Chicago/Naperville/Warrenville and the Hyatt Place Chicago/Naperville/Warrenville. The neighboring hotels offer guests varying amenities in a comfortable location just 30 miles west of Chicago. "It is an exciting time to enter the Chicago market," Jennifer Porter, newly-appointed Chief Operations Officer, said. "We believe with our rapidly growing talent and dedicated on-property staffs that these hotels will provide ample positive memories for travelers visiting the Naperville and Warrenville communities." The H...
Pebblebrook Hotel Trust Completes Sale of Sir Francis Drake Hotel
Pebblebrook Hotel Trust | April 5, 2021
BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it closed on the sale of the 416-room Kimpton Sir Francis Drake Hotel in San Francisco, CA to a third party on April 1, 2021, generating $157.6 million of net proceeds after customary closing costs. Based on the hotel’s operating performance for 2019, the $157.6 million of net proceeds reflects an 11.8x EBITDA multiple and a 7.2% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues). The Company purchased Sir Francis Drake Hotel for $90.0 million in 2010 as its second hotel. The property...
MCR Acquires SpringHill Suites by Marriott Charlotte-Southwest in North Carolina
MCR | April 1, 2021
NEW YORK - April 1, 2021 - Come along for the rides! MCR, the fourth-largest owner-operator in the United States, has acquired the new-build, 124-suite SpringHill Suites by Marriott Charlotte-Southwest in Charlotte, North Carolina. Just 10 minutes from Charlotte Douglas International Airport and 20 minutes from downtown Charlotte, the all-suite hotel off Interstate 77 is nestled in the popular Steele Creek suburb. Pile the entire crew (family dog, too!) in the car and hightail it to a spacious SpringHill Suites pad, complete with a mini-refrigerator, microwave, 55-inch HDTV and sofa bed. After a coffee-fueled grab and go breakfast and ...
388 Ventures Acquires 3 Historic B&Bs in Downtown Lenox, MA in Partnership with Life House
Life House | March 31, 2021
LENOX, Mass. - March 31, 2021 - New York-based real estate investor 388 Ventures has closed on the acquisition of a portfolio of historic bed-and-breakfasts in Lenox, MA. The portfolio was assembled through 3 separate off-market transactions and encompasses 65-rooms and suites, a locally-rooted restaurant, bar and various inspiring public space areas. 388 Ventures has partnered with award-winning boutique hotel company Life House, who will provide branding, interior design, and hotel & restaurant management services. The new portfolio comprises 3 storied boutique properties located in downtown Lenox, MA, which Life House will operate...
Noble Acquires Hilton Garden Inn Jacksonville | Ponte Vedra
Noble Investment Group | March 31, 2021
Atlanta, Georgia – March 31, 2021 – Noble Investment Group (“Noble”) today announced the acquisition of the Hilton Garden Inn Jacksonville | Ponte Vedra. Located within the Sawgrass Village mixed-use development in Ponte Vedra Beach, Florida, the hotel will undergo a complete guest room and public area renovation. Jacksonville, Florida is a rapidly growing metropolitan city known for its high quality of life and business-friendly environment. The city’s significant economic expansion has led to employment growth four times the national average. The Hilton Garden Inn Jacksonville | Ponte Vedra is located in the renowned Ponte Ve...
