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
Artemis Hotel Group Acquires Homewood Suites by Hilton Atlanta-Galleria/Cumberland in Georgia
Hunter Hotel Advisors | June 26, 2024
ATLANTA (June 26, 2024) — Hunter Hotel Advisors ("HUNTER") today announced the successful sale of the Homewood Suites by Hilton Atlanta-Galleria/Cumberland. Artemis Hotel Group acquired the asset for an undisclosed price on June 24, 2024. HUNTER’s Tim Osborne, senior vice president, and Chase Perry, senior associate, represented the institutional seller. “Artemis Hotel Group is excited to add another wonderful asset in our hometown, serving the upscale extended-stay guest in one of the most vibrant submarkets in Atlanta," said Will Watson, CEO & managing principal of Artemis Hotel Group. Located in the Cumberland submarket of ...
Apple Hospitality REIT Acquires the Embassy Suites by Hilton Madison Downtown in Wisconsin
Apple Hospitality REIT, Inc. | June 24, 2024
RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the opening and acquisition of the 262-room Embassy Suites by Hilton Madison Downtown (the “Hotel”) for approximately $79.5 million, or $303,000 per key. “We are pleased to expand our portfolio with the acquisition of the newly constructed, custom Embassy Suites Madison Downtown and increase our presence within the dynamic and business-friendly Madison market,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “Through our longstanding relationship with one of the industry’s lead...
Old Edwards Hospitality Group Finds New Ownership
Old Edwards Inn and Spa | June 18, 2024
Athens, GA Family, now at the Helm of its Companies and Properties HIGHLANDS, NC (June 18, 2024) — The South’s award-winning collection of hotels and clubs has found new ownership in James and Jessica Whitley of Athens, Georgia. On Friday, June 14, 2024, the sale of Old Edwards Hospitality Group’s assets was completed between long-time owners Art and Angela Williams and the Whitleys. Art and Angela Williams purchased Old Edwards Inn more than 20 years ago after visiting and falling in love with the town of Highlands in their younger years. Over the last two decades, they renovated the original inn and spa, added rooms, restaurants...
Prima Asset Management Acquires Prime Hotel in London, Paddington
Prima Asset Management | June 17, 2024
SINGAPORE, June 17, 2024-- Singapore based private equity real estate firm, Prima Asset Management announces the strategic acquisition of an ultra-rare freehold hotel in one of London's most attractive sub-markets. Focused on developing a robust pipeline of opportunities across the United Kingdom, this strategic move marks Prima's commitment to the market, via their VCC Investment Fund, managed by First Degree Global Asset Management. In partnership with Capilon Group, a specialised London based hotel operator and developer, and financed by OakNorth Bank, the newly acquired hotel is set to undergo an extensive refurbishment,...
APA Group and APA Hotel USA, Inc. Make Landmark Acquisition of Downtown Seattle Hotel
APA Group | June 14, 2024
Vancouver, B.C. – June 14th, 2024 – APA Hotel Co., Ltd. announced today that it completed the acquisition of the Hilton Seattle, Washington State, USA, through APA Hotel USA, Inc., a fully owned subsidiary of APA Hotel Co., Ltd. The property will remain under the management of Stonebridge Hospitality Management and will be rebranded immediately as Coast Seattle Downtown Hotel by APA. Details regarding the terms of the transaction have not been disclosed. "In acquiring this property in Seattle, APA Hotel Co., Ltd, and APA Hotel USA, Inc. take its first monumental step into the vibrant hospitality landscape of the United States,” sta...
Plamondon Hospitality Partners Acquires Holiday Inn Express & Suites Johnstown
Plamondon Hospitality Partners | June 12, 2024
Local Frederick Hotel Management Company Adds the Holiday Inn Express & Suites in Johnstown, Pennsylvania to Their Growing Portfolio Frederick, MD (June 12, 2024) – Plamondon Hospitality Partners, headquartered in Frederick, Maryland, is excited to announce their purchase of the Holiday Inn Express & Suites Johnstown in Johnstown, Pennsylvania. The acquisition of the Holiday Inn Express & Suites marks the beginning of Plamondon’s transition into the region’s market. Peter Plamondon, Jr., Co-President of the Plamondon Hospitality Partners, stated, “We’re thrilled to grow our footprint by bringing our longstanding, fam...
Leonardo Hotels Enters Into Agreement To Acquire The Zien Group From Affiliates of KSL Capital Partners and Garden Capital Group
Leonardo Hotels | June 11, 2024
Acquisition Will Grow Leonardo Hotels' Portfolio to 28 Hotels in the Benelux Region AMSTERDAM, June 11, 2024 -- Leonardo Hotels ("Leonardo") today announced that it has entered into a purchase agreement to acquire the Zien Group ("Zien") and its 12 hotels in the Netherlands from affiliates of KSL Capital Partners, LLC ("KSL"), a leading investor in travel and leisure businesses, as well as its partner, Garden Capital Group, whose shareholders founded the business. Terms were not disclosed. The transaction is scheduled to close in the second quarter of 2024 and is subject to customary closing conditions. The sale marks a success...
Whitestone Companies Acquires the 275-Room Le Meridien Atlanta Perimeter
Whitestone Capital | June 5, 2024
Columbus, OH (June 5, 2024) – Today, Whitestone Capital, a division of Whitestone Companies, purchased the 275 room Le Meridien Atlanta Perimeter from Starwood Capital. This purchase marks Whitestone’s first purchase in the greater Atlanta metropolitan area and tenth hotel purchase in the last twelve months. “Atlanta is a market we have been eyeing for quite some time,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “As with most things, it is about timing. With the Le Meridien, we believe we have found an incredible asset in a great location with considerable upside potential.” The Le Meridien is a unique ...
Virga Capital Partners With Resolute Road Hospitality to Acquire Residence Inn by Marriott Boise West
Virga Capital | June 4, 2024
BOISE, Idaho – (June 4, 2024) Virga Capital, a leading real estate investment and development company headquartered in Bozeman, Montana, today announced the acquisition of Residence Inn by Marriott Boise West. In partnership with Resolute Road Hospitality, this strategic acquisition marks Virga Capital's initial hospitality investment in Boise, signaling intentions to expand the company's presence throughout the Intermountain West. The acquisition comes at a time of significant market growth. Boise was recently recognized as one of the 12 Best Places to Live in the nation, solidifying its position as a dynamic hub for growth and opportun...
Chatham Lodging Trust Acquires Home2 Suites Phoenix Downtown for $43.3 Million
Chatham Lodging Trust | May 31, 2024
WEST PALM BEACH, Fla., May 31, 2024 —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that the company has acquired the recently opened, 148-room Home2 Suites by Hilton Phoenix Downtown for $43.3 million or approximately $293,000 per room. The institutional quality, six-story hotel sits in the heart of Downtown Phoenix and includes the historic Fuller Paint Company Building that houses the hotel’s customized public spaces, including a signature food & beverage outlet. Upon stabilization, ...
Host Hotels & Resorts Enters Into Agreement To Acquire Turtle Bay Resort In Hawaii for $680M
HOST HOTELS & RESORTS | May 29, 2024
BETHESDA, Md., May 29, 2024 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (“Host” or the “Company”), the nation’s largest lodging real estate investment trust, today announced that it entered into an agreement to acquire the fee simple interest in the 450-room Turtle Bay Resort (the “Resort,”) on the North Shore of Oahu, Hawaii, including a 49-acre land parcel entitled for development, (the “Land Parcel”) for approximately $680 million, net of key money. The purchase price allocation is expected to be $630 million for the Resort and $50 million for the Land Parcel, subject to final appraisal. The acquisition price represe...
Waramaug Hospitality Acquires Austin Marriott North in Round Rock, TX
Waramaug Hospitality | May 29, 2024
Miami, FL – May 29, 2024 – Waramaug Hospitality, in a joint venture with Franklin Real Asset Advisors, announced today it acquired the Austin Marriott North, a 295-key full-service hotel located in Round Rock, Texas, with close proximity to downtown Austin. Ferit Ferhangil, Chief Executive Officer of Waramaug, commented, "The Austin Marriott North perfectly aligns with our vision of investing in premium-branded hotels in high-growth markets. This acquisition further solidifies our commitment to delivering exceptional hospitality experiences while maximizing returns for our partners and investors." Further commenting, Marc Weidner, Mana...
Kirkwood Collection Expands Into Santa Ynez Valley With Addition of The Ballard Inn
Kirkwood Collection | May 28, 2024
WEDNESDAY, MAY 28, 2024 – BEVERLY HILLS, CA- Kirkwood Collection, a luxury hotel brand renowned for its portfolio of historic boutique hotels in iconic California destinations, is thrilled to announce the newest addition to its collection: The Ballard Inn. This property marks Kirkwood’s first venture into the Santa Ynez Valley, a picturesque region in the heart of Santa Barbara Wine Country celebrated for its natural beauty, rich history, and world-class wines. The Ballard Inn joins Kirkwood’s existing boutique properties in Santa Barbara, Hideaway Santa Barbara, and Blue Sands Inn, further expanding their presence in the region. The B...
Stonebridge Companies Expands Third-Party Management Platform Through Acquisition of Real Hospitality Group
Stonebridge Companies | May 22, 2024
DENVER, CO, May 22, 2024 —Stonebridge Companies, LLC (“Stonebridge”), a Denver-based innovative, privately-owned hotel management company boasting a diverse range of full-service, select-service, and extended-stay properties, announced today it has acquired Real Hospitality Group, LLC (“RHG),” a leading hotel management company based in Ocean City, Maryland. Real Hospitality Group Founder and CEO Ben Seidel will join the Stonebridge team as Principal and a member of the firm’s Board of Directors. He will contribute his deep experience to help grow and scale the combined company’s presence throughout the country. “From the d...
Image Hotels Acquires Courtyard by Marriott North Charleston Airport/Coliseum
Courtyard by Marriott | May 21, 2024
North Charleston, SC – May 21, 2024 – Image Hotels, a fully integrated hotel development and management company based in Savannah, Georgia and operating through the coastal South since 1978, today announced the acquisition of the Courtyard by Marriott North Charleston Airport/Coliseum in North Charleston, South Carolina. Located at 2415 Mall Drive, the Courtyard by Marriott North Charleston Airport/Coliseum is just minutes from Charleston International Airport and offers guests convenient access to the North Charleston Coliseum and Performing Arts Center, the Charleston Tanger Outlets, the Charleston Area Convention Center, the Sout...
StanCraft-Led Investor Group Acquires Templin’s on the River in Post Falls, Idaho
StanCraft | May 20, 2024
POST FALLS, Idaho--StanCraft, a Hayden, Idaho-based private family of companies, in partnership with an investor group, proudly announce the acquisition of Templin’s on the River in Post Falls, Idaho. Founded in 1986, Templin’s is a 167-room waterfront hotel, bar and marina. With new, supportive ownership, the hotel will be upgraded throughout 2024 and 2025, building on its current features with updated amenities, landscaping, lighting, and guest room enhancements. All food and beverage offerings will also be enhanced and relaunched with a strong guest service culture. “We are excited to bring StanCraft back to Post Falls and ...
Bentley Legacy Holdings and Pendant Capital Acquire The Raphael Hotel, Autograph Collection
Bentley Legacy Holdings | May 14, 2024
Historic Kansas City landmark to undergo guest room refresh and public area enhancements KANSAS CITY, Mo. (May 14, 2024)—Bentley Legacy Holdings (BLH), through its partnership with Pendant Capital, has expanded its portfolio of boutique hotel assets with the acquisition of The Raphael Hotel, Autograph Collection, a distinctive and historic Kansas City landmark blending classic elegance with contemporary sophistication. Bentley Legacy Group (the management arm of BLH) has immediately assumed management of the hotel, with a vision of ensuring its legacy remains during planned updates set to elevate the guest experience. Located just off th...
Ares Real Estate Acquires Hotel Portfolio From Landsec and Operations Under AccorInvest
Ares Management Corporation | May 9, 2024
Income-Generating Hotel Portfolio Concentrated in London and Other Major UK Cities LONDON--Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today that funds managed by Ares Real Estate have acquired a hotel portfolio from Landsec alongside hotel operating partner EQ Group (“EQ”), a leading European hospitality investment and management platform. Prior to the acquisition, the properties were fully let to AccorInvest under long-term leases. In parallel with the closing of the acquisition, Ares entered into an agreement with AccorInvest to surrender these leases and tra...
NexGen Hotels Acquires the Hotel Versey in Chicago, Illinois
NexGen Hotels | May 7, 2024
CHICAGO – May 7, 2024 – NexGen Hotels, a hotel development and management company based in Itasca, Illinois, today announced the acquisition of the Hotel Versey in Chicago, Illinois. Located at 644 W Diversey Parkway, the 137-room hotel will be managed by Genuine Hospitality Group of St. Louis, Missouri. The boutique hotel is housed within the 1920s Diversey Arms building, a Northside Chicago landmark, that first served as a home to jazz musician Bix Beiderbecke. Later it was known as the “Rock and Roll Days Inn” due to its popularity with many iconic rock stars of the ‘90s such as Foo Fighters, Nirvana, Smashing Pumpkins, Wilco...
Group Led by Robert J. Guidry Acquires Dual-Branded Courtyard and SpringHill Suites New Orleans for $73 Million
HREC | May 6, 2024
First Major Hotel Sale Since Early 2023 Signals Rebound of Hotel Market Sales NEW ORLEANS, May 6, 2024-- Len Wormser, Senior Vice President and Scott Stephens, Senior Principal and Chief Operating Officer of Hospitality Real Estate Counselors (HREC), together with Cushman Wakefield Commercial Real Estate Services, are pleased to announce the sale of the 410 room Marriott dual branded New Orleans Courtyard and Spring Hill Suites Hotels located near the Ernest N. Morial Convention Center/Arts and Warehouse District of the Central Business District. The purchase price was $73 million. Robert J. Guidry along with Guidry Land Partners ...
Whitestone Capital Acquires Pennsylvania Holiday Inn in Partnership With PJD Capital
Whitestone Capital | May 6, 2024
Columbus, OH (May 6, 2024) - Whitestone Capital, a division of Whitestone Companies, joined forces with PJD Capital to purchase the 152 room Holiday Inn East Mountain in Wilkes Barre, Pennsylvania. This acquisition marks the first joint venture between the two real estate companies. “We are excited about our new partnership with PJD Capital to reposition this property into a product the Wilkes Barre community has been craving,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “We expect the transformation to happen in two phases with the first phase starting later this year.” Phase one of the transformation will ...
Driftwood Capital Acquires 225-Key Marriott Raleigh Durham Research Triangle Park
Driftwood Capital | May 2, 2024
DURHAM, NC (May 2, 2024) – Driftwood Capital (“Driftwood”), a vertically integrated commercial hospitality real estate firm, announces the acquisition of the Marriott Raleigh Durham Research Triangle Park (“Hotel”), a 225-key full-service, upper-upscale hotel located in North Carolina’s prestigious Research Triangle area. Driftwood will carry out an extensive renovation project to enhance numerous features throughout the Hotel. Franklin BSP Realty Trust originated a multimillion, two-year loan with three one-year extension options at a competitive interest rate. "The acquisition of Marriott Raleigh Durham Research Triangle P...
Host Hotels & Resorts Acquires 1 Hotel Nashville and Embassy Suites By Hilton Nashville Downtown
HOST HOTELS & RESORTS | May 2, 2024
BETHESDA, Md., May 02, 2024 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, today announced that it has acquired the fee simple interest in a two-hotel complex comprising the 215-room 1 Hotel Nashville and the 506-room Embassy Suites by Hilton Nashville Downtown (together, the “Property”) for approximately $530 million in cash. The acquisition price represents a 12.6x EBITDA multiple or a cap rate of approximately 7.4% on the Property’s 2024 estimated results1. The Property is expected to be among Host’s top-25 assets based on estimated full year 2024 ...
Schwartz Family Company Acquires Leura Gardens Resort
Schwartz Family Company | April 24, 2024
Schwartz Family Company has acquired a prized Blue Mountains resort to strengthen its position as the region’s premier leisure and conference provider. Leura Gardens Resort consolidates the Schwartz Family Company presence in the Blue Mountains, joining the award-winning Fairmont Resort Blue Mountains and Leura Golf Club, all within a few minutes' drive of each other. Leura Gardens Resort is the 15th hotel in the Schwartz hotel network and was acquired for $25 million from the Elanor Hotel Accommodation Fund. The recently refurbished Leura Gardens Resort is an expansive 92-room hotel set in four and a half acres of landscaped...
