CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16th, 2024
Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7th, 2023
Blue Sky Equity Partners Acquires Red Lion Inn & Suites Tucson North Foothills
Blue Sky Equity Partners | April 11, 2019
SAN DIEGO, April 11, 2019 -- Blue Sky Equity Partners today announced that it has added to its hotel portfolio by acquiring the Red Lion Inn & Suites Tucson North Foothills and has announced plans to rename and reposition the hotel as a boutique hotel called 3 Palms Tucson North Foothills. Located near the foothills of the Santa Catalina Mountains in North Tucson, the 156-room hotel is the Tucson North hotel of choice for both business and leisure travelers, outdoor adventurers, family vacationers, and visitors to the University of Arizona. Financial terms of the transaction were not disclosed. "We are excited to acquire this o...
R.D. Olson Breaks Ground on AC Hotel Wailea on the Southside of Maui County
R.D. Olson Construction | April 11, 2019
Irvine, Calif. – April 11, 2019 – R.D. Olson Construction, an award-winning general contracting firm in California, today announced the ground-up construction of AC Hotel Wailea, a 70,000-square-foot, four-story estate hotel located on the southside of Maui County in Wailea. Situated on a three-acre lot, the 110-room hotel will include one-bedroom suites and studio options, a business center, fitness area and infinity-edge pool complete with a poolside tiki bar and cabanas. The property is located at the corner of Wailea Ike Place and Wailea Ike Drive adjacent to the Wailea Tennis Club. It is in close proximity to The Shops ...
Avison Young Closes 260 Million YTD 2019
Avison Young | April 11, 2019
ATLANTA – April 11, 2019 – Avison Young Hospitality Group announced today the firm closed on its 15th hotel transaction of the year with year to date sales totaling 260 million. Since 2013, the Avison Young Hospitality Group has closed 106 Marriott branded hotels, 72 Hilton branded assets, 49 IHG branded assets and 158 historic, upscale boutique, resort and other branded hotels. ...
IHG® Signs Two Holiday Inn Hotels in Saudi Arabia
April 10, 2019
IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, has signed two franchise agreements including Holiday Inn® Madinah King Abdulaziz Road with Loulouat Al Madinah Hospitality and Holiday Inn Jeddah Al Hamra with Al Hokair Group. The agreements were signed and announced at Arabian Hotel Investment Conference (AHIC) 2019 in Ras Al Khaimah. The signings consolidate IHG's strategy to expand its footprint across the kingdom, with its midscale offerings. Holiday Inn Jeddah Al Hamra will feature 253 rooms and a host of facilities for business and leisure travellers including three food and beverage outlet...
Château Élan Winery & Resort Unveils Plans for $25 Million Renovation Set for Completion in November 2019
HEI Hotels & Resorts | April 9, 2019
BRASELTON, Ga. – April 9, 2019 – Château Élan Winery & Resort the enchanting château and full-service winery nestled among North Georgia's picturesque foothills, unveils plans today for an extensive $25 million dollar renovation, scheduled for completion in November 2019. The complete transformation introduces a fresh, yet timeless, modernized design while delivering a unique, distinctly southern concept dressed in French undertones, honoring the existing estate's 16th century-style charm. Beckoning a new generation, the transformation will include a complete overhaul of 251 guest rooms and 24 suites, ...
Kimpton Hotels & Restaurants Expands in North Carolina With Summer Opening of Hotel Arras
McKibbon Hospitality | April 9, 2019
SAN FRANCISCO (April 9, 2019) – Kimpton Hotels & Restaurants announces today it will open a new hotel in Asheville, North Carolina this summer. A historic conversion of the former BB&T Bank building, Kimpton Hotel Arras will transform the tallest building in the city into a 128-room boutique hotel and bring to life a modern mountain aesthetic with locally curated artwork, culinary craftsmanship and a laid-back-meets-luxe experience. The property, located in the heart of downtown Asheville at 7 Patton Avenue, also includes 54 residences and two independently owned restaurants, Bargello, offering Mediterranean fine dining, a...
Rollins College Plans Expansion for The Alfond Inn at Rollins in Winter Park, Florida
Alfond Inn at Rollins | April 9, 2019
April 9, 2019. Winter Park, Florida – The Alfond Inn at Rollins, the award-winning boutique hotel in the heart of historic Winter Park, has announced plans to expand the property. Construction is expected to commence in late summer with a completion date anticipated for the first quarter of 2021. The new development of the hotel, which is owned by nearby Rollins College, will include 73 additional guest rooms, bringing the total to 185 rooms. The new guest accommodations will offer spacious luxury rooms and several large suites that can be used for meetings and hospitality or converted into grand two-bedroom suites. "This is an ex...
Oxford Capital Group, LLC Affiliate Acquires Four Downtown San Francisco Hotels
Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC | April 9, 2019
(SAN FRANCISCO, CA; April 9, 2019) – Oxford Capital Group, LLC announces today the acquisition of four downtown San Francisco hotels (Hotel Vertigo, Good Hotel, Americania Hotel, and Carriage Inn), with plans to renovate and reposition the assets. In addition, Oxford Capital Group's wholly owned affiliate Oxford Hotels & Resorts, LLC takes over management of the properties as of today. These four hotels will join Oxford's growing lifestyle hotel portfolio which includes Godfrey Hotels in Chicago, Boston, Tampa, and Hollywood; LondonHouse Chicago; Hotel Julian Chicago; and others as described in more detail below. "This is...
146-Room, Limited-Service, Quality Inn Hotel Will Be Auctioned on RealINSIGHT Marketplace
RealINSIGHT Marketplace | April 9, 2019
VIRGINIA—April 10, 2019—RealINSIGHT Marketplace and Berkadia are pleased to present the Quality Inn Collinsville, a 146-room, limited-service hotel located in Collinsville, VA for your acquisition consideration. The auction will take place on the online commercial real estate sales platform, RealINSIGHT Marketplace, May 6th – May 8th. About the Property: Two Buildings Two Floors 146 Rooms Recently Renovated in 2018 This offering provides investors with the opportunity to acquire fee-simple interest in a strategically located Quality Inn hotel. Situated just off Highway 220, which connects to Roanoke to the north and ...
Mandarin Oriental Partners With Astaș Holding A.Ş, and Yapi & Yapi for New Hotel in Istanbul
Asta? Holding A.?, and Yapi & Yapi | April 8, 2019
Hong Kong, 8 April 2019 - Mandarin Oriental Hotel Group has announced that it will manage a second luxury hotel in Istanbul, Turkey. The project, which also features branded residences, is scheduled to open in 2022. The new development comprises three standalone towers and is located in the exclusive Etiler residential area, close to the city's central business district. One of the towers will house Mandarin Oriental Etiler, Istanbul with 158 guestrooms and suites and 16 serviced apartments. The remaining two towers will house 251 luxurious Residences at Mandarin Oriental. UNStudio from Amsterdam has been appointed as the master planner...
Marriott International Expects to Add Nearly 20 Properties Under Its Middle East and Africa Portfolio in 2019
Marriott International | April 8, 2019
Marriott International today announced it expects to add 19 new properties and more than 3,000 rooms to its Middle East and Africa portfolio in 2019. Underpinning a strong demand for its diverse brands, the new additions are in line with the company's expansion plans to add more than 100 new properties and nearly 26,000 rooms across the region by the end of 2023. Marriott estimates its development pipeline through 2023 represents up to $8 billion of investment from property owners and is expected to generate over 20,000 new jobs across the region. "Our growth across the Middle East and Africa is fuelled by a strong demand for our divers...
Accor Brings Its Iconic Raffles Brand to India With Two New Hotels
Raffles | April 8, 2019
Mumbai, April 8, 2019 -- Accor announces two majestic hotels in India - Raffles Jaipur and Raffles Udaipur - in the presence of Accor Chairman & CEO Sébastien Bazin and owner, Ratankant Sharma. The iconic Raffles brand is synonymous with luxury and extraordinary adventure and this announcement signals a new direction for Accor in India, with a stronger focus on luxury and premium brands. Both hotels will deliver a palatial experience in an extraordinary setting along with the famously discreet and personalized Raffles service. Raffles is renowned for setting the standard for luxury hospitality for over 130 years. With 13 prop...
Japan Hotel REIT Investment Corporation Acquires Hilton Tokyo Odaiba for JPY62.4Bn (559.8M USD)
April 8, 2019
TOKYO -- Japan Hotel REIT Investment Corporation (TOKYO: 8985) (hereinafter called "JHR") acquired Hilton Tokyo Odaiba for JPY62.4Bn as of today. Hilton Tokyo Odaiba is a large-scale full-service hotel with a 4-star rating, located in Odaiba, one of the most popular tourist destinations in Tokyo. The hotel's 453 guest rooms are spacious, and are provided with breathtaking views of the city skyline over Tokyo Bay. The hotel is equipped with multiple Japanese, Western and Chinese restaurants, lounges, meeting rooms, wedding halls, a fitness center, a swimming pool and a spa, as well as large and small banquet rooms, satisfying various dem...
Gayle Benson, Partners Buy New Orleans’ Hyatt Regency; 1st Local Owners of Landmark Hotel
April 4, 2019
April 05-- Apr. 5--New Orleans Saints and Pelicans owner Gayle Benson is purchasing the Hyatt Regency Hotel near the Mercedes-Benz Superdome, adding another piece of marquee downtown real estate to the growing portfolio of Benson-controlled buildings in the area. The deal, which is set to close Friday, puts the Hyatt in local hands for the first time in its 43-year history and follows a multimillion-dollar renovation of the hotel that began in 2010. The terms of the deal were not disclosed, but comparable recent hotel sales suggest the purchase price could be around $300 million. Benson is buying the hotel along with two partners, longt...
Songy Highroads and The Wampold Companies Sign Deal to Develop the First Margaritaville Resort in the Lone Star State
Songy Highroads, LLC | April 4, 2019
New York, N.Y. – April 4, 2019 – Margaritaville Holdings, Songy Highroads (SHR) and The Wampold Companies today announced a new Margaritaville Resort coming to Lake Conroe, located approximately one hour north of Houston. With 186 acres of prime waterfront property, the Margaritaville Resort will feature 360 guestrooms, signature Margaritaville dining concepts, a golf course, spa, and more. The resort is scheduled to welcome guests in Q3 2020. "We are thrilled to bring our first Margaritaville resort in Texas to the Houston area with an incredible location on Lake Conroe," said Rick Cunningham, SVP Margaritaville Development...
sbe Partners With Byzantine Holdings for 2020 Debut of Temple Detroit, a House of Originals Hotel
sbe | April 4, 2019
NEW YORK, April 4, 2019 -- sbe, a leading international hospitality group that develops, manages and operates award-winning global hospitality brands, is proud to announce the debut of Temple Detroit, a House of Originals hotel, in collaboration with developer Byzantine Holdings and its partners Christos Moisides, David Sutherland and Gretchen Carhartt Valade. The $72 million project is the first hotel to be signed following the announcement of the House of Originals debut. Temple Detroit, slated to open in June of 2020, will feature 100 hotel rooms and 70 residential units in addition to a sbe restaurant and mixology / nightclub venues...
W Hotels Worldwide Signs With Ruang Teknik Group to Develop W Bali - Ubud
W Hotels Worldwide | April 4, 2019
NEW YORK – April 4, 2019 – W Hotels Worldwide, part of Marriott International, Inc., today announced the signing of W Bali – Ubud, the brand's newest W Escape. Developed in partnership with Indonesia's Ruang Teknik Group, W Bali – Ubud is set to bring W's bold design, signature Whatever/Whenever® service and innovative programming to the cultural heart of Bali. Perched on a hilltop, oriented toward the morning sun rising in the east, and southwards over stunning, unobstructed views of the Tanggayuda Valley, W Bali – Ubud will reinvent the dreamy Ubud experience with eclectic, surprising art and design s...
Las Vegas Sands Enters Into Agreement With Singapore Government to Expand Marina Bay Sands IR
Las Vegas Sands Corp. | April 3, 2019
LAS VEGAS, April 3, 2019 -- Las Vegas Sands today announced a bold expansion plan for Marina Bay Sands in Singapore which will see the world's most successful and recognizable integrated resort add significant new tourism offerings to the property. The company has entered into a development agreement with the Singapore government and said it will quickly begin work on the new project. Located immediately adjacent to the existing Marina Bay Sands Integrated Resort (IR), the key elements of the development will be a state-of-the-art 15,000-seat arena, a luxury hotel tower and additional MICE (Meeting, Incentive, Convention, and Exhibi...
OTO Development Breaks Ground on Hyatt Place National Harbor in Prince George’s County, Maryland
OTO Development | April 3, 2019
SPARTANBURG SC (April 3, 2019) – OTO Development, part of The Johnson Group, has broken ground on Hyatt Place National Harbor. Slated to open in late 2020, the seven-story waterfront hotel will be the first Hyatt-branded property in Prince George's County, Maryland. It's the latest hospitality addition to National Harbor, a 350-acre destination on the banks of the Potomac River with a variety of shopping, dining and entertainment opportunities. Based in Spartanburg, South Carolina, OTO previously developed a Hampton Inn & Suites in National Harbor and now manages that property for Blackstone. "It's always exciting to break gro...
Wexford Lodging Advisors & Trinity Private Equity Group Complete JV Acquisition of 138-Suite DoubleTree Suites Hotel Nashville Airport
Trinity Private Equity Group | April 3, 2019
JV to Invest $2.5 Million to Upgrade Hotel NASHVILLE, Tenn.—April 3, 2019 --Officials of Wexford Lodging Advisors, a leading hotel asset management and investment firm, and Trinity Private Equity Group, one of the nation's top alternative asset management firms, today announced the acquisition of the 138-suite DoubleTree Suites by Hilton Hotel Nashville Airport. The joint venture will invest approximately $2.5 million to upgrade the property with a targeted completion date of year's end 2019. HVMG will continue to operate the hotel. "Nashville remains one of the strongest and fastest-growing markets in the nation for hotel demand...
Hyatt Regency Denver Tech Center Completes Multi-Million Dollar Renovation
Hyatt Regency | April 3, 2019
DENVER -- Hyatt Regency Denver Tech Center announced today the completion of a multi-million dollar renovation to its guestrooms, lobby and public spaces. Managed by Columbia Sussex, the 451-room hotel is located in the growing business and economic trading center in the southeastern portion of the Denver metropolitan area, home to several corporations and in close proximity to restaurants, bars and hotels. Denver Tech Center (DTC) is at the junction of I-25 and I-225, allowing for easy access throughout Denver and conveniently situated minutes from downtown, the airport, and steps from the Belleview light rail station. The area surroun...
Hyatt Signs With Towa Real Estate to Develop 120-Key Hotel at Japan’s Historic Fuji Speedway
Unbound Collection by Hyatt | April 3, 2019
CHICAGO -- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Towa Real Estate Co. Ltd., an affiliate of TOYOTA Group, to develop a 120-key hotel at the Fuji Speedway, Japan's historic racing circuit. Slated to open in 2022, the project will be the first in Japan under The Unbound Collection by Hyatt brand and the first hotel in the world to be built by Towa Real Estate. "As we look to expand Hyatt's brand footprint in Japan, we are excited to be entering into a management agreement with TOYOTA group company, Towa Real Estate, as it builds its first-ever hotel." Hotel a...
Avison Young Hospitality Group Announces Recent Closings
Avison Young | April 2, 2019
ATLANTA – April 3, 2019 – Avison Young Hospitality Group announced today the firm closed five hotel transactions in the month of March. The properties include two west coast boutique properties, a Hampton Inn in Pennsylvania, an hotel on the national historic registry in the southeast and a very exclusive resort in New England. The firm has seven transactions closing over the 20 days representing an upscale Marriott branded hotel north of Washington DC, a select service hotel in the Midwest, a resort hotel on the west coast and a portfolio of four hotels in the CBD area of a top 10 US market. Since 2013, the Avison Young Hos...
Vision Hospitality Group Opens Hampton Inn & Suites by Hilton Atlanta Decatur/Emory
Vision Hospitality Group, Inc. | April 2, 2019
CHATTANOOGA, TENN., APR. 2, 2019 — Vision Hospitality Group, Inc. announced the opening of the six-story Hampton Inn & Suites by Hilton Atlanta Decatur/Emory, which is one of eleven Vision hotels either in development or operation in Atlanta. The 145-room hotel has a contemporary design incorporating cool, neutral tones and caters to travelers with value-added amenities such as an indoor saltwater swimming pool, meeting space, a 24-hour business center and a fitness center. Located at 116 Clairemont Avenue, the hotel joins one of the most vibrant and eclectic communities in Atlanta. Centrally situated in downtown Decatur, guests w...
