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New Castle Hotels & Resorts Opens Cambria Hotel Charleston Riverview
Cambria Hotels | April 24, 2019
ROCKVILLE, Md., April 23, 2019 -- Franchised by Choice Hotels International, Inc. (NYSE: CHH), the Cambria Hotels brand continues its South Carolina expansion with the opening of Charleston's newest hotel, the Cambria Hotel Charleston Riverview. The 126-room hotel is located at 84 Ripley Point Dr., along South Carolina's scenic Ashley River. The upscale hotel is just minutes from the Historic Downtown District, where guests can explore the city's main attractions by foot or horse-drawn carriage, including the Charleston City Market, Riley Waterfront Park, Historic King Street, the South Carolina Aquarium, and the Dock Street Theatre. The h...
The Ogunquit River Inn Joins Ascend Hotel Collection
Ascend Hotel Collection | April 24, 2019
ROCKVILLE, Md., April, 24, 2019 -- The Ogunquit River Inn is the latest hotel to join the Ascend Hotel Collection by Choice Hotels International, Inc. (NYSE: CHH), a portfolio of best-in-class, unique, boutique and historic hotels and resorts that reflect their surrounding community. Located just outside of Portland, Maine, the waterfront town of Ogunquit boasts stunning views of the area's renowned natural beauty and the Rachel Carson Wildlife Preserve. Whether travelers are in the area to see the leaves change or the lilacs bloom, the Ogunquit River Inn allows guests to experience the year-round charm of the Pine Tree State. The O...
HHM Completes Acquisition of DoubleTree by Hilton Hotel Atlanta Airport
HHM | April 23, 2019
PHILADELPHIA, April 23, 2019 -- Philadelphia-based HHM has completed its acquisition of the DoubleTree by Hilton Atlanta Airport, which features 220 guest rooms, 4,500 square feet of updated meeting space, multiple food and beverage outlets, and a fitness center and swimming pool. The DoubleTree by Hilton Atlanta Airport offers an upscale and chic experience in close proximity to Hartsfield-Jackson Atlanta International Airport, which has hosted more passengers than any other airport across the globe for 20 years running. In addition to airport demand, the hotel is only a few miles from Downtown Atlanta's fast-growing business and trave...
Full-Scale Renovation Underway at Residence Inn Atlanta Duluth/Gwinnett Place to Be Completed Early Summer 2019
Residence Inn by Marriott | April 23, 2019
DULUTH, G.A. (April 23, 2019) — Residence Inn by Marriott Atlanta Duluth/Gwinnett Place is excited to announce a comprehensive guest room and public space renovation to be completed early summer 2019. They are owned by New Century Group, LLP and managed by Aimbridge Hospitality. The renovation involves updating all guest rooms to the new Residence Inn décor package, Neuhaus. Included in the renovation are the guest rooms, meeting space, fitness center, pool, and public spaces. These spaces will receive updated furniture, improved layouts, new lighting, wall coverings, carpeting, plush bedding, and more. The hotel is built f...
Owned and Managed by High Hotels, Residence Inn by Marriott Set to Open in Lancaster, Pennsylvania
Residence Inn by Marriott | April 23, 2019
Lancaster, PA – April 23, 2019 – The 127-suite Residence Inn by Marriott in Lancaster, Pennsylvania is scheduled to open on Friday, April 26, 2019 with its upscale, stylish décor that offers flexibility, and alternatives that allow guests to heighten their travel experience. Located at 1450 Harrisburg Pike, the all-suite Residence Inn Lancaster will operate as a Marriott franchise, owned and managed by High Hotels Ltd. of Lancaster, PA. Situated in The Crossings at Conestoga Creek – featuring shopping, dining and entertainment options, the Residence Inn Lancaster offers its guests convenient access to downtown L...
MSD Partners, L.P. to Acquire Boca Raton Resort & Club From Blackstone Affiliate
MSD Partners | April 22, 2019
NEW YORK and BOCA RATON, Fla., April 22, 2019 -- MSD Partners, L.P. today announced that it has entered into a definitive agreement to acquire the Boca Raton Resort & Club from an affiliate of Blackstone (NYSE: BX). Boca Raton Resort & Club is one of the premier resort destinations and private club facilities in the United States. The property, which was built in 1926, today comprises 1,047 hotel rooms across 337 acres. Its amenities include two 18-hole golf courses, a 50,000 sq. ft. spa, seven swimming pools, 30 tennis courts, a full-service 32-slip marina, 13 restaurants and bars, and 200,000 sq. ft. of meeting space. The prop...
AJ Capital Partners Acquires The Lumen Hotel in Dallas, Texas
AJ Capital Partners | April 22, 2019
Dallas, Tex. – Adventurous Journeys (AJ) Capital Partners announced today that it has acquired the Lumen Hotel in Dallas, Texas. The hotel will continue to operate independently as the Lumen Hotel while undergoing renovations. Once complete in spring 2020, the property will debut as Graduate Dallas, part of the Graduate Hotels® collection. Following the renovation, the hotel will offer 95 guestrooms, a communal lobby, Poindexter coffee shop, a reimagined restaurant and bar, rooftop lounge and upgraded pool courtyard. Originally constructed in 1963, the four-story building has long served Southern Methodist University and the n...
Hospitality Financial Leadership: Negative Flow Thru
David Lund | April 22, 2019
By David Lund One of the most read articles I have written is on the topic of flow thru and how to use it in your financial statements. Understanding flow thru is not something that comes easily to most people immediately, but once you look at it and do the calculation it usually clicks. Once it drops in place you have got it for good. To take things one step further in this piece I am going to discuss negative flow thru. Negative flow thru or retention is something that most people in North America have not had to deal with very much in the past decade. We have just crossed over a massive stretch of growth in our industry that was mark...
The Westin Long Beach Launches $23 Million Renovation Set for Completion Summer 2019
Westin Long Beach | April 22, 2019
Long Beach, Calif. (April 2019) – The Westin Long Beach, 333 E Ocean Blvd, has officially kicked off a $23 million renovation, which will introduce one of Long Beach's hottest new dining concepts, Navy Proof Food & Spirits, the much-anticipated coffee culture hub, Bluestone Lane, as well as a refreshed lobby and revitalized guest rooms to the community. Set to be unveiled in summer 2019, all of the designated spaces reflect a modern, sophisticated style reflecting the property's vibrant California coastline setting. "This is such an exciting time to be in Long Beach. There is an abundance of growth as well as an overall elevat...
Pinnacle Hospitality Partners to Open 134-Key SpringHill Suites by Marriott in Brentwood, Tennessee
SpringHill Suites by Marriott | April 22, 2019
Brentwood, TN– April 22, 2019 – Marriott International announced today that the SpringHill Suites by Marriott in Brentwood, Tennessee is set to open on Tuesday, April 30, 2019. Located at 7109 Town Center Way, the all-suite hotel will operate as a Marriott franchise, owned and managed by Pinnacle Hospitality Partners, LLC of Nashville, Tennessee. General Manager Craig Barnett and Area Director of Sales Marti Timmons lead the management team at the property for Pinnacle Hospitality Partners. The SpringHill Suites Nashville Brentwood is just 14 miles from Nashville International Airport, and 15 minutes from downtown Nashville....
Choice Hotels Signs Franchise Agreements With Organizations Led By African-American Women to Develop Six Hotels Across US and Caribbean
Choice Hotels | April 18, 2019
ROCKVILLE, Md., April 18, 2019 -- Businesses owned by women of color grew three times faster than other women-owned businesses in the United States last year, yet it is estimated by the National Association of Black Hotel Owners, Operators and Developers (NABHOOD) that less than one percent of hotels are owned by African-American women. Choice Hotels International, Inc.'s (NYSE: CHH) one-of-a-kind emerging markets franchise development team is helping to bridge this gap and extend the opportunity of hotel ownership to underrepresented populations—most recently by awarding six franchise agreements to organizations led by Africa...
Marriott Plans World’s Tallest Modular Hotel Set to Rise in New York City This Fall
Marriott International, Inc. | April 18, 2019
The world's tallest modular hotel – which will carry a brand of Marriott International (NASDAQ:MAR) – is on track to be stacked in late fall in New York City with prefabricated and pre-furnished guestrooms. Once erected over a 90-day period, the 360-foot-tall tower will represent a milestone for Marriott's ongoing initiative to encourage hotel developers in North America to embrace modular for new construction projects. To be topped with a modular roof and modular rooftop bar, the world's tallest modular hotel is expected to open in late 2020 as the AC Hotel New York NoMad. "In North America, the construction process hasn't ...
The Kessler Collection Officially Breaks Ground on Grand Bohemian Hotel Greenville
The Kessler Collection | April 18, 2019
ORLANDO, Fla., April 18, 2019 -- On Wednesday, April 17 at 10:00 a.m., The Kessler Collection, a portfolio of nine passionately created and artistically inspired boutique hotels and restaurants, officially broke ground on the highly anticipated Grand Bohemian Hotel Greenville. During the groundbreaking ceremony, local dignitaries including Mayor Knox White and interim city manager and director of economic development, Nancy Whitworth, and key executives from The Kessler Collection recognized the dedication and vision for the project. Key development partners area vice president of full service franchise of Marriott International, Richar...
Summit Hotel Properties Completes Sale of Six Hotels for $135 Million
Summit Hotel Properties | April 18, 2019
AUSTIN, Texas, April 18, 2019 -- Summit Hotel Properties, Inc. reported today that it has completed the disposition of six hotels totaling 815 guestrooms for an aggregate gross sales price of $135.0 million which resulted in an estimated net gain of $36.6 million. The portfolio of six hotels sold included: The aggregate gross sales price of $135.0 million, plus estimated future capital improvements, represented a 12.8x EBITDA multiple and 6.9 percent capitalization rate for the trailing twelve months ended March 31, 2019. The Company estimates that the hotels would have contributed approximately $9.5 million of EBITDAre through the rem...
Columbia Sussex Completes MultiMillion Renovation of Dallas Marriott Las Colinas
Columbia Sussex | April 18, 2019
CRESTVIEW, KY (April 18, 2019) – – Columbia Sussex, one of the largest Marriott franchisees in the country, continues its aggressive renovation program to at least nine of its Marriott owned and operated properties, and has completed a multi-million dollar renovation of its popular Dallas Marriott Las Colinas. Noted for its proximity to the area's convention center, but also its location across the street from the new Live Nation Toyota Music Factory and dining and shopping in the Metroplex, the hotel has hosted entertainers such as Chris Isaak and Steely Dan, acclaimed actresses such as Geena Davis and Carrie Fisher, and mo...
Fortuna Realty Group Plans Spring Opening of Hotel Hendricks in the Heart of Manhattan
Fortuna Realty | April 18, 2019
New York, NY (April 18, 2019) – Soaring twenty-seven stories over Fifth Avenue, Hotel Hendricks is the stylish new addition to Fortuna Realty Group's collection of Manhattan hotels. The property and its 176 guestrooms are located just steps away from the Fashion District and Bryant Park. With interiors by LA-based interior designer Marcello Pozzi, the hotel and its 176 guestrooms boast unparalleled views of the Empire State Building and the cityscape. With two rooftop bars and a Latin-infused restaurant, Hotel Hendricks is set to be the new Midtown hotspot for locals and travelers alike. "We are thrilled to introduce Hotel Hendric...
Dimension Development Adds the 353-Room Hanover Marriott to Their Management Portfolio
Dimension Development Co. | April 17, 2019
WHIPPANY, N.J., April 17, 2019 -- Dimension Development is named management company of the Hanover Marriott in Whippany, New Jersey. Dimension's portfolio now exceeds 65 hotels with additional properties in their pipeline. "Our growth is very strategic. Our ability to pick unique properties and drive returns for our owners while providing the best customer satisfaction for our guests sets us apart from other management companies," said Ryan Frederick, Vice President of Operations for Dimension Development. Located in Whippany, NJ, the Hanover Marriott features 353 luxurious guestrooms, with 8 suites, a complimentary hotel ...
Aloft Hotels Debuts in Shanghai With Opening of Aloft Shanghai Zhangjiang Haike Hotel Led by General Manager Andy Shen.
Aloft Hotels | April 17, 2019
SHANGHAI, April 17, 2019 -- Aloft Hotels, Marriott International's innovation incubator brand for global travelers, today opens the brand new 191-room Aloft Shanghai Zhangjiang Hotel, bringing high-tech, modern style and a vibrant new social scene to Shanghai as the first Aloft hotel in the city. Owned by Shanghai Tech University Hotel Management Limited, Aloft Shanghai Zhangjiang Haike Hotel is the first international hotel located in the central area of Zhangjiang Hi-tech Park Pudong. Ideally situated within a prime hub for innovation and technology businesses, the hotel is also located within a short drive from the New Internatio...
Hard Rock International and Convention Hotels India Private Limited Bringing Hard Rock Hotel Bangalore to India
Hard Rock International | April 17, 2019
HOLLYWOOD, Fla. – April 17, 2019 – With a portfolio spanning across 75 countries, including 27 unique hotel properties with 37 projects in different phases of development, Hard Rock International continues intensifying its international presence with the announcement of Hard Rock Hotel Bangalore, slated to open in Fall 2020. Joining Hard Rock Hotel Goa, the second Hard Rock Hotel in India will be located in the bustling city of Bangalore, known as the Silicon Valley of India. "The city of Bangalore is full of culture and beauty and is the perfect location for our second property in India," said Todd Hricko, senior vice presi...
Avison Young Announces Portfolio Sale in San Francisco
Avison Young | April 17, 2019
ATLANTA – April 17, 2019 – Avison Young Hospitality Group announced the firm closed a four-property hotel portfolio in downtown San Francisco. The portfolio contained 418 rooms and consisted of the following properties; Hotel Vertigo, Good Hotel, Americania Hotel and the Carriage Inn. The transaction closed on Monday April 8th. Avison Young represented Haiyi Hotels as the seller and the buyer was Oxford Capital Group LLC. This transaction represents the 6th closing Avison Young has completed in San Francisco within the last two months and the firm's 15th closing for 2019. Chris Stark, a Principal with the Avison Young Hospit...
FAUCHON Hospitality Expands Boutique Hotel Collection With 2020 Opening of Second Property in Kyoto, Japan
FAUCHON Hospitality | April 16, 2019
PARIS, FRANCE (April 16, 2019) -- FAUCHON Hospitality, which debuted its first hotel in Paris in September of 2018, will open a second property in Kyoto, Japan, it was announced today by Jacques-Olivier Chauvin, President and CEO. FAUCHON has been a well-known brand in Japan for the past 47 years, and currently manages 28 shops, 2 cafes, and 2 bakeries with cafes throughout the country. The five-star FAUCHON Hotel Kyoto will open in 2020 in the center of Kyoto, in the Shimogyo-ku district, approximately 10 minutes from the most interesting districts (Gion, Higashiyama and Kawaramachi-Shijo). The hotel will feature 70 guest rooms and sui...
Nobu Hospitality to Launch in London West End With 2020 Opening of Nobu Hotel London Portman Square
Nobu Hotels | April 15, 2019
NEW YORK, April 15, 2019 -- Nobu Hospitality, the globally established lifestyle brand founded by Nobu Matsuhisa, Robert De Niro and Meir Teper, is delighted to announce the launch of its London West End hotel. Expected to open in spring 2020, Nobu Hotel is set in Portman Square W1, steps from Mayfair's vibrant restaurants and independent boutiques and on the edge of Soho's world-famous theatres in the heart of London's West End. The 239-guest rooms and suites, together with a Nobu restaurant, ballroom and meeting facilities are being conceptualized by London-based architecture and interior design firm, David Collins Studio,...
Hamilton Hotel Investors and Centerbridge Partners Complete Acquisition of Belgian Nine-Hotel Portfolio From WNE
Hamilton Hotel Partners and Hamilton Hotel Investors | April 15, 2019
LONDON, April 15, 2019 - Hamilton Hotel Investors and Centerbridge Partners have completed the acquisition of a portfolio of nine hotels located in Belgium and France from WNE Investor S.À R.L. The hotels comprise 1,120 keys in total and are located in some of Belgium's key commercial and tourism destinations (Antwerp, Hasselt, Ghent and Liege) and Calais in France. Five of the nine hotels operate under the Holiday Inn and Holiday Inn Express brands, and Hamilton Hotel Partners will assume management of the portfolio going forward. "We are excited to acquire the Brabo hotels and to work in close partnership with the team at Hamil...
Hilton Expands Presence in Colombia With Debut of New Hotel in Bogotá
Hilton Hotels & Resorts | April 11, 2019
BOGOTÁ, Colombia and MCLEAN, Va - Hilton (NYSE: HLT) today officially announces the opening of Hilton Bogota Corferias, representing Hilton's 20th property in the country. As the first full-service hotel in the city's Fair & Convention District, the 410-room property features more than 13,000 square feet of flexible meetings and events space, including the largest terrace in the area that offers both indoor/outdoor space and spectacular mountain views. "Colombia's tourism industry continues to set records with a nine percent growth in visitor arrivals last year, maintaining a positive year over year momentum," said Jorge Gian...
