News Archive: July
Pearlshire Capital Group Acquires the 172-key Holiday Inn Chicago SW Countryside Conference Center
Pearlshire Capital Group | July 29, 2014
July 30, 2014 - Chicago, IL - Pearlshire Capital Group has taken ownership of the Holiday Inn Chicago SW Countryside Conference Center and William Tell Restaurant. As new owners of the 172 room Chicago hotel, Pearlshire Capital Group, specialists in distressed real estate investments, will invest $8 million in capital improvements to reposition the property. Pearlshire Capital Group will retain the services of Ultima Hospitality, the company that has successfully managed the landmark property since 2012. "We are looking forward to working with Ultima Hospitality as we enter an exciting phase for the Holiday Inn Countryside" commented Re...
New 77-room La Quinta Inn Planned for Walla Walla, Washington
July 28, 2014
July 28--WALLA WALLA -- A new inn is in the works for Walla Walla. The new development, a La Quinta Inn, is planned at the southwest corner of Myra Road and Heritage Road. According to documents filed with the Walla Walla Joint Community Development Agency, it will be a four-story hotel with 77 rooms and a total floor area of 40,140 square feet. According to Lauren Prentice, development agency senior planner, because the building would be in the city's Highway Commercial zoning district, its plans will be subject to administrative review only and will not go before the city Planning Commission. An environmental Determination of Non-Sign...
Construction to Start for $3.6M 28-key Mills Park Hotel in Yellow Springs, Ohio
July 20, 2014
July 20--Construction of a new $3.6 million hotel in downtown Yellow Springs is scheduled to begin this week, backed by an owner who hopes a large inn in the village can boost tourism and the village's economy. The 24,000 square-foot Mills Park Hotel, 321 Xenia Avenue near Limestone Street, will be upon completion the largest lodging facility in the village. It will include 28 guest rooms and extended-stay suites, an exercise facility, a conference room that will hold up to 20 people and a banquet room that can hold up to 150 people, a cafe or bakery style restaurant and a small retail store. The ground has been leveled and gravel has b...
Investor Group Acquires Iconic Bahia Mar Resort & Marina in Fort Lauderdale, FL With Upgrade Plans
July 24, 2014
July 24--A group of South Florida real estate investors has purchased the iconic Bahia Mar Resort and Marina in Fort Lauderdale with visions of upgrading the waterfront property and adding shops, restaurants and condos. Miami real estate developers, brothers Jimmy and Kenny Tate, co-owners of Tate Capital, and longtime friend Sergio Rok, president of Rok Acquisitions, along with Rialto Capital Management and RCI Marine, paid an undisclosed price for a long-term lease on the 39-acre parcel. Blackstone Group had owned the lease on the property set on the Intracoastal Waterway across from a public beach. "It's iconic, it has a great name, ...
Plan to Turn Florida Keys Country Club in Marathon, FL into a Hotel Gets Go Ahead
July 12, 2014
July 12--The Marathon City Council on Tuesday unanimously OK'd the redevelopment of Florida Keys Country Club, a project fronted by accountant Peter Rosasco. The council granted Rosasco's team a conditional-use permit and development agreement that includes plans for an overhaul of the golf course on Sombrero Boulevard, a 76-unit hotel, 15 three-bedroom cottages, a 170-seat restaurant, new tennis courts, a swimming pool and a new clubhouse and pro shop. According to the development team's presentation, the construction would take place in three phases. The first would be to construct the cottages, eight on-site employee housing units an...
Ronald J. Hunter Named General Manager for the Embassy Suites Raleigh-Crabtree in North Carolina
Embassy Suites Hotels | July 21, 2014
MCLEAN, Va. - July 22, 2014 - Hilton Worldwide announced the appointment of Ronald J. Hunter as general manager of Embassy Suites Raleigh-Crabtree North Carolina, nestled on a wooded hill near downtown Raleigh and across from Crabtree Valley Mall, effective immediately. Hunter will direct and oversee the day-to-day operations of this all-suite hotel just ten miles from Raleigh-Durham Airport. Dedicated and award winning general manager, Hunter is familiar with North Carolina having attended North Carolina Central University and chairing the Durham Convention & Visitors Bureau for three terms during service from 1996 to 2014. He join...
Jeffrey Fuller Appointed General Manager at Royal Sonesta Houston
Royal Sonesta Hotel Houston | July 8, 2014
HOUSTON, TX – July 9, 2014 – Industry veteran Jeffrey Fuller has joined the Royal Sonesta Houston as General Manager. In this capacity, he now helms one of the Bayou City's most exciting, new upscale hotel products. Fresh off a nearly $30-million renovation, the landmark, 485-room property features the largest meeting and event offering – 50,000 square feet – in the Galleria/Uptown area, a premier destination for group, leisure and business travel. Prior to his appointment at the Royal Sonesta Houston, Fuller was employed by John Q. Hammons Hotels & Resorts. Most recently, he was the General Manager of the Embassy Suites Gre...
Owned & Managed by Krishna Pearsall Investments, the 70-room Hampton Inn Pearsall Opens in Texas
Hampton IHotels | July 8, 2014
PEARSALL, Tex., and MCLEAN, Va., July 9, 2014 - Hampton Hotels, Hilton Worldwide's global brand of more than 1,900 mid-priced Hampton Inn, Hampton Inn & Suites, and Hampton by Hilton hotels, today announced the official opening of its newest property, the 70-room Hampton Inn Pearsall at 604 S. Lindsey Lane in Pearsall. "Conveniently located right outside San Antonio, Hampton Inn Pearsall provides its guests with great variety in amenities and activities," said Umesh Thakore, general manager, Hampton Inn Pearsall. "Quality accommodations and amenities combined with proactive, friendly service from our team members - all backed by the...
