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
Foley Entertainment Group Buys Majority Stake in Farmhouse Inn in Northern California
FOLEY ENTERTAINMENT GROUP | September 12, 2023
Partnership brings together two families with deep roots in Sonoma County focused on preserving and growing the acclaimed boutique luxury resort FORESTVILLE, Calif., (September 12, 2023) – Foley Entertainment Group (FEG), established by businessman and Sonoma Valley vintner, Bill Foley, announced today the purchase of a majority stake in Farmhouse Inn in Forestville, California. Catherine and Joe Bartolomei, siblings and fifth generation Russian River Valley farmers who have owned Farmhouse Inn since 2001 and transformed the historic property into a top-rated luxury resort, will retain partial ownership of the property. FEG will assume ...
Crawford Hoying Acquires Homewood Suites by Hilton Columbus OSU in Upper Arlington, Ohio
Crawford Hoying | September 11, 2023
STATE COLLEGE, Pa. (September 11, 2023) - Crawford Hoying is excited to announce the acquisition of Homewood Suites by Hilton Columbus OSU in partnership with award-winning, international hotel owner, operator and developer, Shaner Hotel Group. This is the fourteenth hotel within Crawford Hoying’s portfolio, which now includes more than 1,800 hotel keys. Homewood Suites is located at 1576 West Lane Avenue in the heart of Upper Arlington. Just 10 minutes from downtown Columbus and a two-minute drive from The Ohio State University, guests can enjoy staying steps away from some of the best shopping and dining that the city has to offer. The...
VICI Properties Inc. Completes Acquisition of Four Properties in Alberta, Canada in Sale-Leaseback Transaction With Century Casinos, Inc.
VICI Properties | September 7, 2023
Expands Partnership with Century Casinos, Inc. by Adding Four Additional Assets to Existing Master Lease NEW YORK — VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta, (collectively the “Century Canadian Portfolio”) from Century Casinos, Inc. (NASDAQ: CNTY)...
MCR Acquires the Courtyard by Marriott North Charleston
MCR | September 7, 2023
MCR’s latest acquisition in The Palmetto State is just 10 minutes from the Charleston International Airport. NEW YORK — MCR — the country’s 3rd-largest hotel owner-operator — has acquired the Courtyard by Marriott North Charleston, a four-story hotel with 138 rooms in North Charleston, South Carolina. The hotel was purchased with acquisition financing in place and is MCR’s fourth hotel in The Palmetto State. Opened in 2019, the hotel is located 10 minutes from Charleston International Airport and 20 minutes from beautiful Downtown Charleston. With strong leisure demand driven by nearby beaches and...
Calmwater Capital Acquires Banyan Cay Resort & Golf Club
Banyan Cay Resort & Golf Club | September 7, 2023
Sept. 7, 2023 – West Palm Beach, Fla. – Calmwater Capital, a direct commercial real estate bridge lender headquartered in Los Angeles, today announces its acquisition of Banyan Cay Resort & Golf Club. As the new property owner, Calmwater Capital affiliate U.S. Real Estate Credit III has immediately introduced financial and professional resources to reopen the golf course and club and complete the hotel, spa and fitness complex. Centrally located in West Palm Beach, the property most notably features Jack Nicklaus’ 300th Signature 18-hole course surrounded by West Palm Beach’s natural beauty. Extensive renovations to restore t...
Newbond Holdings Acquires the 130-Key Aloft Tampa Downtown Hotel
Newbond Holdings | September 5, 2023
The acquisition marks the firm’s third hotel investment in Downtown Tampa NEW YORK CITY (September 5, 2023) – Newbond Holdings (“Newbond”), a real estate and hospitality-focused investment platform, announces the acquisition of the Aloft Tampa Downtown Hotel. This transaction marks Newbond’s third hotel investment on the Downtown Tampa riverfront in the last 24 months, totaling more than 700 hotel rooms and over 800 feet of frontage on the Hillsborough River. Located on the Riverwalk in Downtown Tampa, the 130-key hotel offers an abundance of indoor and outdoor amenity space, including a waterfront pool and gym, corporate mee...
Cendyn Reinforces Commitment to Driving Profitable Revenue Through WIHP Acquisition
Cendyn | August 30, 2023
Global technology and services leader for the hospitality industry, Cendyn, continues its legacy of innovation with strategic acquisition of WIHP, a trailblazer in hotel metasearch services and technology Paris, France – August 30, 2023 – Cendyn, a catalyst for digital transformation in the hospitality industry, proudly announces the strategic acquisition of WIHP, an industry leader in hotel digital marketing services and technology. The acquisition signifies a key milestone in Cendyn's quest to facilitate profitable revenue growth for the hospitality industry through continued investment in driving direct bookings. For close to 30 ...
MCR Acquires New York’s Iconic Gramercy Park Hotel, Shuttered Since 2020
MCR | August 28, 2023
The historic luxury hotel will receive a full renovation and reopen in 2025. NEW YORK--August 28, 2023--MCR — the country’s 3rd-largest hotel owner-operator — has acquired the iconic Gramercy Park Hotel in New York City. MORSE Development, which developed the experiential TWA Hotel at New York City’s JFK Airport, will bring back the magic and glamour of the five-star hotel, which has been closed since 2020. An extensive renovation will revitalize the lobby, the first-floor restaurants and bars, and the hotel’s 197 guestrooms and suites. The spectacular 7,000-square-foot rooftop bar — the only venue with a view o...
Hersha Hospitality Trust to Be Acquired by KSL Capital Partners
Hersha Hospitality Trust | August 28, 2023
PHILADELPHIA and DENVER, Aug. 28, 2023 — Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of luxury and lifestyle hotels in coastal gateway and resort markets, and KSL Capital Partners, LLC (“KSL”), a leading investor in travel and leisure businesses, today announced a definitive merger agreement, entered into on August 27, 2023, under which affiliates of KSL will acquire all of the outstanding common shares of Hersha for $10.00 per share in an all-cash transaction valued at approximately $1.4 billion. The purchase price represents a premium of approximately 60% over Hersha’s closing share price on August...
Waramaug Hospitality Acquires Atlanta Marriott Peachtree Corners
Waramaug Hospitality | August 23, 2023
August 23, 2023, Coral Gables, FL and Atlanta, GA — Waramaug Hospitality, a privately held investment firm focused on premium-branded select-service and full-service hotels, announced today it acquired the Atlanta Marriott Peachtree Corners located northeast of Atlanta's Interstate-285 beltway perimeter, within the high-growth corridor surrounding Peachtree Industrial Boulevard. The 222-room Atlanta Marriott Peachtree Corners features a fitness center, indoor pool, and outdoor fire pit seating area. With over 5,000 square feet of meeting space spread throughout nine rooms, the largest of which totaling 3,000 square feet with a capacity of...
RADCO Hotel Division Acquires Aloft Phoenix-Airport Hotel
The RADCO Companies | August 8, 2023
(Phoenix, AZ – August 8, 2023) – The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, has acquired the 143-room Aloft Phoenix-Airport hotel in Phoenix, AZ. Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix brokered the sale on behalf of the seller. Additional terms of the deal were not disclosed. Aloft Phoenix-Airport is a select service boutique hotel located at 4450 East Washington Street, adjacent to the Phoenix Sky Harbor International Airport (PHX), which served over 40 million passengers last year, and across the street from the airport’s Sky train station and t...
Vista Hospitality Acquires Two Hotels in South Florida
the Vista Group of Companies | August 7, 2023
Binghamton, NY (August 7, 2023) – Vista Hospitality is pleased to announce the purchase of the Hampton Inn & Suites by Hilton Ft. Lauderdale Airport / South Cruise Port in Hollywood, FL and the Hampton Inn by Hilton Miami-Airport West in Doral, FL. The acquisition transactions closed on July 17, 2023 and July 21, 2023, respectively. The newly renovated Hampton Inn & Suites Ft. Lauderdale Airport / South Cruise Port is located at 2500 Stirling Road, Hollywood, FL 33020, ideally situated just 2 miles from the Ft. Lauderdale – Hollywood International Airport and 1 mile south of I-95, and within a short drive Port Everglades Cr...
DiamondRock Hospitality Company Acquires Chico Hot Springs Resort in Paradise Valley, Montana
DiamondRock Hospitality Company | August 3, 2023
BETHESDA, Md., Aug. 3, 2023 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that it has acquired the fee-simple interest in the Chico Hot Springs Resort (the "Resort"), a lifestyle resort in Paradise Valley, Montana and near Yellowstone National Park. The purchase price for the Resort and adjacent ranch (collectively, "Chico") is $33 million. Chico was acquired from an individual owner-operator and is an independent resort, completely unencumbered by brand and management agreements. The $27 million purchase price for the 117-room, 153-acre Resort represents an 8.1% capitalization rate on 2022 net opera...
Braintree Group Acquires Three New Hotels in Utah and Nevada
Braintree Group | August 1, 2023
Boise, ID, August 1, 2023 — Braintree Group, a privately held, vertically integrated, national real estate development and investment firm, announced today the acquisition of three properties, adding 330 rooms to their rapidly growing hospitality portfolio. Resolute Road Hospitality, a national third-party management company driven by a promise to provide owners with an increased return on their assets, will manage all three assets. The properties include the Courtyard by Marriott Lehi at Thanksgiving Point and the SpringHill Suites by Marriott Lehi at Thanksgiving Point, both in Lehi, Utah, and the Hilton Garden Inn Las Vegas/Henderson,...
Elise Capital Acquires Holiday Inn Express & Suites Picayune-Stennis Space Center
Elise Capital | August 1, 2023
August 1, 2023, Atlanta, GA — Elise Capital, a hotel real estate investment firm, announced today the acquisition of the Holiday Inn Express & Suites Picayune-Stennis Space Center, located in Picayune, Mississippi. This property marks the firm's third hospitality acquisition in the last two years. The three-story, 67-room Holiday Inn Express & Suites recently underwent a comprehensive renovation and features a heated indoor pool, fitness center, business center, free Wi-Fi, complimentary breakfast, and over 1,200 square feet of meeting space. "This Holiday Inn Express fits well into our investment criteria," said Kendra Plummer, ...
Highline Hospitality Partners Announces Joint Venture Acquisition of the Home2 Suites by Hilton Long Island City
Highline Hospitality Partners | July 31, 2023
Hospitality investment firm adds 115-room all-suite property to its portfolio NEW YORK (July 31, 2023) – Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has acquired the Home2 Suites by Hilton Long Island City in a joint venture with an affiliate of Paceline Equity Partners, LLC, a Dallas-based private equity manager. The extended-stay and 115-room all-suite hotel, which is HHP’s tenth property, is located at the core of Long Island City, only a block away from a stop on New York’s extensive subway system which provides direct access to Midtown Manhattan in les...
MCR Acquires Two Hotels in Phoenix, Arizona
MCR | July 31, 2023
NEW YORK--July 31, 2023--MCR — the country’s 3rd-largest hotel owner-operator — has acquired two hotels in Phoenix, Arizona. The 169-room Holiday Inn Express & Suites Scottsdale – Old Town and the 121-room Hampton Inn by Hilton Phoenix-Biltmore are located in prime, high-barrier-to-entry submarkets in one of the fastest-growing cities in the U.S. With the acquisition of these hotels, MCR has nine hotels in the Grand Canyon State. Located in Old Town Scottsdale, the all-suite Holiday Inn Express & Suites is an ideal jumping-off point for exploring the area’s unique collection of shops, restaurants, and art galleries, a...
Global Hospitality Investment Group Acquires Doubletree Resort Scottsdale Paradise Valley
Global Hospitality Investment Group | July 27, 2023
LOS ANGELES, July 27, 2023 -- Global Hospitality Investment Group ("GHIG" or "the firm"), a hospitality-focused real estate private equity firm, today announced that it has acquired the Doubletree Resort Scottsdale Paradise Valley (the "Hotel"), an institutional quality, top-branded resort in Scottsdale, Arizona. The Hotel is located in Paradise Valley, a prime central location between the Kierland and Old Town Scottsdale areas, one of the highest growth, dynamic lodging and hospitality markets in the United States. Following the transaction, the Hotel will remain a Hilton-flagged hotel. The property spans more than 23 acres on Scotts...
VICI Properties Inc. Completes Acquisition of Rocky Gap Casino Resort From Golden Entertainment for $260M
VICI Properties | July 26, 2023
Expands Partnership with Century Casinos, Inc. by Adding Fourth Asset to Existing Master Lease NEW YORK--July 26, 2023--VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire an interest in the land and buildings associated with Rocky Gap Casino Resort (“Rocky Gap”), located in Flintstone, Maryland from Golden Entertainment, Inc. (NASDAQ: GDEN) for an aggregate purchase price of approximately $203.9 million in cash. The transaction was funded through a combination of cash on hand and pro...
KSL Capital Partners Acquires a Majority Interest in Sereno Hotels
KSL Capital Partners | July 26, 2023
The founding families retain a significant interest, with Luis Contreras continuing as CEO COMO, Italy – 26 July 2023 – Sereno Hotels (“Sereno”), today announced that an affiliate of KSL Capital Partners (“KSL”) has acquired a majority interest in Sereno. Founded over 20 years ago by the Contreras family, Sereno is the owner-operator of the multi-award-winning ultra-luxury hotel Il Sereno located on the shores of Lake Como, Italy, and its sister resort, Le Sereno on the beach at Grand Cul de Sac on the island of St. Barthelemy. The Contreras family will remain significant investors in Sereno, and Sereno’s current team wil...
Affiliates of Paceline Equity Partners Acquire Extended Stay Home2 Suites by Hilton New York Long Island City
Paceline Equity Partners | July 24, 2023
DALLAS--July 24, 2023 - Affiliates of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced that they have acquired the Home2 Suites by Hilton New York Long Island City, an extended stay, all-suite hotel located in Long Island City, New York. This recently renovated hotel is one of only three Hilton-branded extended stay properties in New York City and is viewed as an urban flagship-type asset by the brand. The acquisition represents Paceline’s second strategic partnership with Highline Hospitality Partners, following Paceline’s acquisition of the Sheraton Suites Atlanta Galleria, which was...
Wayside Investment Group to Acquire Two Extended Stay America Suites Properties in Dallas
July 18, 2023
Wayside Investment Group has reached agreement to purchase two Extended Stay America Suites properties in Dallas – the 118-unit hotel on Frankford Road and the 150-unit hotel on Carnaby Street in Irving, which is strategically located one mile from the Irving Convention Center and seven miles from DFW International Airport. The transaction is expected to close by the end of July. “These acquisitions offer our company two exceptional opportunities to become an active part of the robust and growing hotel market in Dallas,” said Miraj Patel, President of Houston-based Wayside Investment Group. “We are very enthusiastic about once agai...
Kolter Hospitality Acquires Hyatt House and Hyatt Place Fort Lauderdale Airport & Cruise Port in Dania Beach
July 18, 2023
Delray Beach, Fla.—July 18, 2023— Kolter Hospitality announced the acquisition of Hyatt House Fort Lauderdale Airport & Cruise Port and Hyatt Place Fort Lauderdale Airport & Cruise Port, located in Dania Beach. The deal with Blackstone will bring a total of 292 rooms to Kolter Hospitality’s growing portfolio. The hotels are: Hyatt House Fort Lauderdale Airport & Cruise Port at 90 S.W. 18th Ave. in Dania Beach Hyatt Place Fort Lauderdale Airport & Cruise Port at 91 S.W. 18th Ave. in Dania Beach “Hyatt is a globally respected brand that Kolter Hospitality has a very long and successful relationship with,"...
Noble Acquires Ten Asset Portfolio of WoodSpring Suites Hotels
Noble Investment Group | July 18, 2023
Atlanta, Georgia (Tuesday, July 18, 2023) – Noble Investment Group ("Noble") today announced the acquisition of ten WoodSpring Suites hotels located throughout the southeastern United States. The firm plans to make physical improvements across the portfolio to enhance market positioning and accelerate performance. The portfolio is located in markets throughout Florida, Georgia, South Carolina, Tennessee, and Kentucky, characterized by positive net migration, job growth, and wage growth. The extended-stay, apartment-like offerings are highly desirable for relocations, traveling health professionals, government workers, and infrastructure ...
