Minor Hotels to Debut in Singapore With Avani Hotels & Resorts Lifestyle Brand
Avani Hotels & Resorts | September 3rd, 2024
Kimpton San Antonio Celebrates Its Topping Out on Schedule
Kimpton Hotels & Restaurants | July 20th, 2023
Foley Entertainment Group Acquires Santa Barbara’s Hotel Californian
THE FOLEY ENTERTAINMENT GROUP | September 14, 2021
SANTA BARBARA, CA – September 14, 2021 – Lee & Associates, a leader in commercial real estate services throughout North America, announces one of the largest-ever sales of hotel property in Santa Barbara, the Hotel Californian located at the front door of the city’s booming Funk Zone has traded to one of businessman Bill Foley’s companies for an undisclosed figure. The deal, which closed September 1, was led by local Santa Barbara commercial real estate firms Radius Commercial Real Estate and Lee & Associates Central Coast, with Austin Herlihy and Chris Parker of Radius representing the seller, and Steve Leider and Cl...
Microtel by Wyndham to Open 20 New Hotels in Greater China by the End of 2022
Microtel by Wyndham | September 13, 2021
SHANGHAI and SINGAPORE - September 13, 2021 - Wyndham Hotels & Resorts, the world's largest hotel franchising company and leading provider of hotel management services with approximately 9,000 hotels across nearly 95 countries, continues to expand its portfolio in China with 20 new Microtel by Wyndham hotels by the end of 2022, located in key cities and emerging destinations across the country. Designed to provide travelers with modern conveniences, Microtel by Wyndham made its debut in China in late 2019 as a midscale brand. The brand has since grown to a collection of six hotels, including locations in Hangzhou, Hefei, Guiyang, Kunmi...
Hyatt and The Wharf Plan New Park Hyatt Hotel in Changsha
Park Hyatt | September 13, 2021
SHANGHAI / HONG KONG – September 13, 2021 – Hyatt and The Wharf (Holdings) Limited today announced plans for a new Park Hyatt hotel in Changsha, the capital of Hunan province, marking the luxury Park Hyatt brand’s entry into Central China. Situated within the iconic landmark Changsha IFS, the new luxury hotel is expected to offer global travelers refined, sophisticated and unparalleled experiences in Changsha. Slated to open in 2023, Park Hyatt Changsha will feature 230 guestrooms and offer world-class culinary and wellness experiences, as well as inspiring spaces for meetings and events. “We are delighted to work with Th...
Pebblebrook Hotel Trust Completes Sale of Villa Florence San Francisco on Union Square for $87.5M
Pebblebrook Hotel Trust | September 10, 2021
BETHESDA, MD – September 10, 2021 –Pebblebrook Hotel Trust today announced that it closed on the sale of the 189-room Villa Florence San Francisco on Union Square in San Francisco, CA for $87.5 million to a third party. Based on the hotel’s operating performance for 2019, the $87.5 million reflects a 12.4x 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 EBITDA multiple and net operating income capitalization rate are adjusted for the annualized impact of current retail rental income and a one-time retail lease termination fee. Proc...
Lightstone Celebrates Topping Out of Dual-Branded Marriott Moxy and AC Hotels in Downtown Los Angeles
Lightstone | September 10, 2021
LOS ANGELES – September 10, 2021 – National real estate investor and developer Lightstone, today announced the topping out of construction on the dual-branded Moxy Los Angeles Downtown and AC Hotel Los Angeles Downtown. The property is located in the heart of Downtown Los Angeles, directly across the street from the LA Convention Center and Staples Center, on the corner of West Pico Boulevard and Figeroua Street. Scheduled to open in late 2022, the 37-story, 600,000-square-foot mixed-use tower will consist of a dual-branded, 380-room Moxy hotel and a 347-room AC hotel. The property will also include over 22,000 square feet of premium d...
La Colección Resorts by Fiesta Americana Adds Three New Properties
La Colección Resorts | September 10, 2021
Mexico City, Mexico – September 10, 2021 – La Colección Resorts by Fiesta Americana, a collection of distinctive urban and beach resorts located across Mexico and the Dominican Republic, continues to grow its portfolio with new resort offerings and brands located in different Mexican destinations. Marking the first Curamoria Collection property within La Colección Resorts by Fiesta Americana is Náay Tulum, a boutique resort concept already open that melds intimate luxury and signature experiences. Guests will also soon have new Live Aqua hotels to choose from, best known for its sensorial experiences, with new...
Hotel 1000 Seattle Joins LXR Hotels & Resorts
Hotel 1000 Seattle | September 10, 2021
SEATTLE, WA – September 10, 2021 – LXR Hotels & Resorts has officially entered the United States’ Pacific Northwest region with the addition of Hotel 1000 Seattle, a 120-room urban luxury retreat located in the city’s vibrant Downtown business and arts district. The property, previously known as Loews Hotel 1000, joined the LXR portfolio in late August 2021, making it the third domestic addition to Hilton’s luxury collection brand and the first LXR property in the region. The transition will be followed by a 2022 renovation to further elevate the guest experience with added amenities, and enhanced design. Located at First Avenu...
Conrad Hotels & Resorts Signs First Hotel in California, Conrad Los Angeles at The Grand LA
Hilton | September 10, 2021
MCLEAN, VA – September 10, 2021 – Conrad Hotels & Resorts, one of Hilton’s luxury hotel brands, today announced its debut in California with the signing of Conrad Los Angeles. The hotel is part of Related Companies’ mixed-use development, The Grand LA, designed by Frank Gehry, located in downtown Los Angeles. “With Los Angeles experiencing its largest downtown development boom in nearly a century, we believe 2022 is the right time to introduce such a dynamic hotel and exciting development to this cultural epicenter,” said Danny Hughes, executive vice president and president, Americas, Hilton. “We’re thrilled to continue...
Hilton Signs With Sun Group to Launch New Curio Collection by Hilton Resort in Phu Quoc, Vietnam
Hilton | September 9, 2021
SINGAPORE – September 9, 2021 –Hilton (NYSE: HLT), one of the world’s fastest-growing hospitality companies, has signed a management agreement with one of Vietnam’s leading hospitality and real estate development company Sun Group to launch a new resort under Curio Collection by Hilton in Phu Quoc, Vietnam. Curio Collection, a portfolio of over 100 handpicked hotels and resorts around the world, provide a one-of-a-kind stay experience with distinctly unique amenities and services, while backed by the Hilton name. Set to open in Phu Quoc in 2023, the 197-key La Festa Phu Quoc, Curio Collection by Hilton, will represent Hilton’s fi...
IHG Hotels & Resorts Extends Partnership With RB Capital to Bring Next Generation Holiday Inn to Singapore
IHG Hotels & Resorts | September 8, 2021
Holiday Inn Singapore Little India takes the strategic collaboration between the two groups to nearly 1,000 keys across three properties in Singapore IHG Hotels & Resorts and long-term partner RB Capital are excited to bring the next generation Holiday Inn experience to Singapore as the world-renowned brand’s expansion continues. The 300-room Holiday Inn Singapore Little India will rebrand from Park Hotel Farrer Park on 7 September ahead of a renovation that will see it relaunch with a vibrant fresh identity and positioning. The Holiday Inn brand is one of the most recognised hotel brands in the world with 1,234 properties glob...
Rockbridge Plans 212-Room Independent Lifestyle Boutique Hotel in Columbus, Ohio
ROCKBRIDGE | September 8, 2021
Columbus, OH – September 8, 2021 – After many months developing plans and coordinating with stakeholders amid pandemic conditions, Rockbridge announced new details of the plan for the North Market Mixed-Use Development originally revealed in 2019. This marks a significant next step in bringing the project’s transformational vision to life – and highlights the commitment, perseverance and collaboration of the development team, North Market and the City of Columbus. Rockbridge is working to finalize the plan and secure ongoing support for the proposed 31-story development, which will be reviewed by the Downtown Commission and Histo...
NewcrestImage Sells AC Hotel by Marriott in Phoenix, Acquires Sinclair Hotel in Fort Worth
NewcrestImage | September 7, 2021
NewcrestImage has concluded two major hotel transactions -- a sale and an acquisition. The Dallas-based company sold its 199-room, 13-floor AC Hotel at Arizona Center in downtown Phoenix to Arbor Lodging Properties, a Chicago-based hotel investment and management firm. The hotel opened in February of this year as a joint venture with Las Vegas-based LaPour Properties and Atlanta-based Peachtree Hotel Group. In a separate transaction, NewcrestImage acquired the historic 164-room, 17-floor Sinclair Hotel in downtown Fort Worth, which is a luxury property in Marriott’s Autograph Collection. The hotel’s features include a fine dinin...
Park Hotels & Resorts Completes Sale of Le Meridien San Francisco for $221.5M
Park Hotels & Resorts | September 7, 2021
TYSONS, VA - September 7, 2021 - Park Hotels & Resorts Inc. today announced that it completed the previously announced sale of the Le Meridien San Francisco. The Company also provided an operational and liquidity update. Recent Highlights Closed on the sale of the 360-room Le Meridien San Francisco on August 31, 2021, for total proceeds of $221.5 million, or approximately $615,000 per key. When adjusted for Park’s anticipated capital expenditures (“capex”), the sale price represents a 5.9% capitalization rate on 2019 net operating income (6.5% excluding capex), or 15.0x 2019 EBITDA (13.7x excluding capex). Procee...
Wyndham Launches Registry Collection Hotels in the Country of Georgia
Registry Collection Hotels | September 2, 2021
LONDON – September 2, 2021 – Wyndham Hotels & Resorts, the world's largest hotel franchising company by number of properties with approximately 9,000 hotels across nearly 95 countries, today announced the debut of its newest brand, Registry Collection Hotels, in Georgia with a flagship 100-room newly-built property in the heart of the capital city of Tbilisi. Slated to open in early 2023, the ART Tbilisi, a Registry Collection Hotel, will be located in the picturesque district of Abanotubani, one of the most sought-after locations in the old town. Wyndham recently introduced its 21st brand, Registry Collection Hotels, with the ope...
Hyatt Regency Conroe and Convention Center to Break Ground in Texas
Hyatt Regency | September 2, 2021
CONROE, Texas – September 2, 2021 – The City of Conroe is proud to announce the planned early September groundbreaking of Hyatt Regency Conroe and Convention Center. Working with development manager Garfield Public/Private, the City announced Grand Central Park master-planned community will be home to the 250-room upper-upscale Hyatt Regency hotel and convention center. Work began on this ambitious project in 2015 at the direction of the City Council and CIDC; however, it has dramatically accelerated over the last two years. Conroe’s new Convention Center, located in a prime location on I-45 just south of Loop 336, will attract confe...
Querido Adds Immerso to Hotel Collection
Querido | September 2, 2021
The Private Hideaway in Portugal’s Ericeira, Europe’s First World-Surfing Reserve, is Set to Open in February 2022 Vancouver, Canada – September 2, 2021 – Querido, the hotel collection representing Europe’s most renowned family-owned properties including Sublime Comporta, Lily of the Valley Hotel, and Borgo Santo Pietro, announces today the addition of Immerso, Immerso is a private hideaway set to open in February 2022 in Ericeria, Portugal, designated Europe’s first world-surfing reserve. Located just 40 minutes outside the buzz and bustle of Lisbon, the seaside surfing community of Ericeira is an oasis of tranquility for...
Groups360 to Partner With PCI Security Standards Council to Help Secure Payment Data Worldwide
Groups360 | September 2, 2021
As Council’s Newest Participating Organization Groups360 to Contribute to The Development of PCI Security Standards Nashville, TN — September 2, 2021 — Groups360, the leading online marketplace for meetings and events, announced today that it has joined the PCI Security Standards Council (PCI SSC) as a new Participating Organization. Groups360 will work with the PCI SSC to help secure payment data worldwide through the ongoing development and adoption of the PCI Security Standards. The PCI SSC leads a global, cross-industry effort to increase payment security by providing flexible, industry-driven and effective data security standar...
Texas Medical Center Launches World’s Largest Life Science Campus
Texas Medical Center | September 1, 2021
HOUSTON - September 1, 2021 - Texas Medical Center (TMC), a unique medical city that fosters collaboration between hospitals, universities and business, today announced the launch of a 37-acre life science campus designed to unite the best minds in medicine and commercialization: TMC3. Construction has begun on Phase One, which is backed by $1.8 billion in financing from leading life science investment and property development teams. The TMC3 master plan, which encompasses approximately 6 million square feet of anticipated development, was designed by Boston-based Elkus Manfredi Architects, a key player in shaping several of Massachusetts...
The Prime Group, Inc. and Aimbridge Hospitality Plan Early 2022 Opening of The LaSalle Hotel
THE LASALLE HOTEL | September 1, 2021
CHICAGO — September 1, 2021 — The Prime Group, Inc. and Aimbridge Hospitality will open The LaSalle Hotel in early February 2022, offering travelers a true luxury destination with an unparalleled location in the center of Chicago’s Loop. The LaSalle Hotel will occupy the top five floors of the historic building at 208 S. LaSalle, adjacent to the Federal Reserve Bank of Chicago, and will offer business and leisure travelers the timeless elegance of the original LaSalle Hotel, which opened in 1909 to much acclaim as “Chicago’s finest hotel.” “We are excited to bring the sophistication and luxury of the original LaSalle Ho...
Hilton Richardson Dallas Opening Under New Brand Flag With Fresh New Look
Aimbridge Hospitality | September 1, 2021
RICHARDSON, TX – September 1, 2021 – The former Hyatt Regency Richardson - Dallas has transformed into the Hilton Richardson Dallas and will reopen in September of this year. The hotel's guestrooms, meeting space, and restaurant have all undergone renovations, and the property will continue to be managed by Aimbridge Hospitality, a leading multinational hospitality company. "We are extremely excited to have this hotel become part of the Hilton family – a top tier brand with an amazing history, culture and loyalty members," said owner Dr. Barry Lall, President & CEO of Pinnacle Hotels USA. "We look forward to a long and mu...
Shepherd Hotels and Avocet Hospitality Partner to Launch the First Shepherd Hotel in Clemson, SC
SHEPHERD HOTELS | August 31, 2021
CLEMSON, SC - August 31, 2021 - Shepherd Hotels, a boutique hotel development and hospitality group aimed at increasing the employment futures of individuals with intellectual disabilities in the hospitality industry, is collaborating with Avocet Hospitality of Charleston, South Carolina to open the first Shepherd Hotel in Downtown Clemson, South Carolina. The Shepherd Hotel will offer guests an upscale experience through the hotel’s uplifting design, the Delish Sisters restaurant, “tasty food made with love,” the elegant indoor/outdoor Thomas Bar overlooking College Avenue, and the hotel’s rooftop event space. “This ...
The Horton Hotel & Rooftop Lounge – Boone, North Carolina’s Downtown World-Class Gem – Perfectly Aligned for Harmonious Transfe
August 30, 2021
New Owners: App State Alumni, SPA Properties, Set to Carry on Vision Created by Original Owners Denise and Fulton Lovin BOONE, North Carolina – August 30, 2021 – The Horton Hotel & Rooftop Lounge: Boone, North Carolina’s only downtown luxury boutique hotel and lounge, featuring a wildly popular rooftop bar, today changed hands with a reverent and respectful nod to its original visionaries while looking to the future with new owners. The historic building on 611 W King Street was converted into a hotel in 2019 under the caring, compassionate and committed eyes of Denise and Fulton Lovin, who created and carried out a d...
Avison Young Hospitality Group- Hilton Sales
Avison Young | August 30, 2021
ATLANTA – August 30, 2021 – Avison Young announced today it has successfully closed the sale on seven Hilton branded hotels. The closings included three Hilton Garden Inns and four Hampton Inns. The properties were located from Texas along the southern crescent up through the middle of the east coast. The brokers involved in the closings were Brad Sinclair, Andy Broad and Michael Bernath. H. Keith Thompson said, “These closings represent a continued investment trend into well branded hospitality assets. All the closings were priced on 2019 performance levels."...
Hilton Signs With Invesco Real Estate for Hilton Heidelberg Conversion
Hilton Hotels & Resorts | August 26, 2021
HEIDELBERG, Germany and MCLEAN, Va. - August 26, 2021 - Ahead of this year’s International Hotel Investment Conference (IHIF), Hilton (NYSE: HLT) has signed a franchise agreement to open Hilton Heidelberg, a 244-room upscale hotel in Heidelberg’s city centre. The property will undergo a major refurbishment before welcoming guests in Summer 2022. The hotel is owned by Invesco Real Estate, the global real estate investment manager which acquired the property in 2017. Patrick Fitzgibbon, senior vice president, development, EMEA, Hilton said, “Hilton Heidelberg is an exciting addition to our growing portfolio in Germany and builds ...
