CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel
CBRE Group, Inc. | May 16, 2024
Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7, 2023
Real Estate
Paramount Lodging Advisors Arranges the Sale of the DoubleTree by Hilton – Pruneyard Plaza Hotel in Campbell/San Jose California
Paramount Lodging Advisors | March 22, 2019
Paramount Lodging Advisors (PLA) is pleased to announce the successful sale of DoubleTree by Hilton Campbell – Pruneyard Plaza, located at 1995 Bascom Avenue, Campbell, CA. The hotel is part of the 30-acre landmark Silicon Valley mixed-use Pruneyard development, and enjoys excellent accessibility to all of the Valley. In addition to the hotel, there is approximately 365,000 square feet of office, 260,000 square feet of retail, and 2,115 parking spaces. The hotel is located just over five miles from downtown San Jose and San Jose International Airport, with excellent accessibility to all regional demand generators, including Levi's...
Choice Hotels Opens Clarion Hotel The Hub in Oslo, Norway, Marking Largest Hotel in Portfolio
March 21, 2019
ROCKVILLE, Md., March 21, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) is pleased to announce the opening of the largest hotel in its portfolio – the Clarion Hotel The Hub in Oslo, Norway. The hotel offers 810 rooms, unique design, two bars, and a premium rooftop restaurant with stunning views in the heart of Norway's capital city. "Clarion Hotel The Hub is a destination for those seeking creativity, inspiration, and enriching experiences in the center of Oslo. This is the largest hotel in the city, but it still curates a warm atmosphere, with people who are passionate about diversity, sustainability and going th...
Sunseeker Resorts Breaks Ground on Charlotte Harbor Development in Punta Gorda, Florida
March 21, 2019
PUNTA GORDA, Fla., March 21, 2019 -- Today, dozens of Florida business leaders, dignitaries and Allegiant Travel Company representatives celebrated the official groundbreaking of Sunseeker Resorts Charlotte Harbor, a first-of-its-kind destination resort that is expected to transform hospitality, dining and tourism in the area (B-roll and photos from the event). The ceremony marked a key milestone for the resort, which is the first to be built under Allegiant's Sunseeker Resorts imprint. After enjoying pastries and coffee, the crowd witnessed the ceremonial shoveling of the "first" mound of dirt. The initial phase will feat...
The Kessler Collection Celebrates Topping Out of Grand Bohemian Hotel Charlotte
The Kessler Collection | March 21, 2019
ORLANDO, Fla., March 21, 2019 -- On Tuesday, March 19 at 11:00 a.m., The Kessler Collection, a portfolio of nine passionately created and artistically inspired boutique hotels and restaurants, held a topping out ceremony to celebrate a major construction milestone in the highly-anticipated Grand Bohemian Hotel Charlotte development. Local dignitaries, development partners and executives from The Kessler Collection recognized the efforts and commitment of each individual who played a role in the construction process. "On behalf of The Kessler Collection, I'd like to personally thank JE Dunn Construction's team of experts for...
Deutsche Hospitality Bringing New IntercityHotel Amsterdam Airport to the Netherlands
Deutsche Hospitality | March 21, 2019
Frankfurt am Main, 21. March 2019 -- Deutsche Hospitality is driving forward expansion in the Netherlands. The IntercityHotel Amsterdam Airport, which is scheduled to open in 2021, will become the latest addition to the group's portfolio. It will join the existing IntercityHotel in Enschede, the Steigenberger Airport Hotel in Amsterdam and Jaz in the City Amsterdam as Deutsche Hospitality increases its presence in the country to four hotels. Preparations for the start of construction works for the IntercityHotel Amsterdam Airport are continuing apace. "Our experiences with Steigenberger Hotels and IntercityHotel in the Netherlands have ...
The Buccini/Pollin Group and Marriott International Together With PM Hotel Group Plan to Transform Sheraton Society Hill Into Philadelphia Marriott Ol
Buccini Pollin Group | March 21, 2019
Chevy Chase, MD. – (March 21, 2019) The Buccini/Pollin Group and Marriott International have announced plans to transition the Sheraton Society Hill into the Philadelphia Marriott Old City. The 364-room hotel will become the newest Marriott Hotels branded property in Philadelphia when the project is complete in July 2019. "We are thrilled to partner on creating a new Marriott experience in Old City Philadelphia that will provide premium meeting and event spaces along with a welcoming Great Room and premium M Club Lounge, alongside world-class guestrooms and dining," said Dave Pollin, President, The Buccini/Pollin Group. "This proj...
WorldHotels Adds Virginia’s Linden Row Inn to Its Distinctive Collection
WorldHotels Collection | March 21, 2019
Frankfurt (March 21, 2019) - WorldHotels recently added Linden Row Inn, Virginia, United States to its Distinctive Collection. The Distinctive Collection features upscale hotels and resorts that deliver an inviting and attainable experience in the world's most desirable locations. Linden Row Inn is a 70-room boutique historic hotel located in the heart of Downtown Richmond, just minutes away from all major attractions in the Capitol area. The hotel is featured on the National Register of Historic Places and is comprised of seven row houses built in the mid-1800's, and meticulously restored over the years. Many of its guest rooms and par...
Apple Hospitality REIT Acquires Home2 Suites by Hilton Orlando Airport for $20.7 Million or $162K per Key
Apple Hospitality REIT, Inc. | March 20, 2019
RICHMOND, Va.--March 20, 2019 --Apple Hospitality REIT, Inc. (NYSE: APLE) (the "Company" or "Apple Hospitality") today announced the opening and acquisition of the new 128-room Home2 Suites by Hilton Orlando Airport (the "Hotel") for a purchase price of $20.7 million, or approximately $162,000 per key. "This beautiful, newly constructed Home2 Suites adds a presence for us near Florida's busiest airport and is a great addition to our portfolio," said Nelson Knight, Executive Vice President and Chief Investment Officer of Apple Hospitality. "Not only will the Hotel benefit from travelers visiting the many leisure attractions that Orlando ...
On Air Soon: Construction Underway for REVERB by Hard Rock™ Hotel Downtown Atlanta Opening February 2020
March 20, 2019
Atlanta, GA – March 20, 2019 – Atlanta-based Hotel Equities (HE) reported out on the construction progress for the REVERB by Hard Rock™ Downtown Atlanta hotel, signaling that construction is on schedule to open in February 2020. Local developer Bolton Atlanta, LP has partnered with Hotel Equities to open and operate the inaugural hotel for Hard Rock's newest generation of music-centric hotels. REVERB™ is the brand's entrance into the select-service category. The 197-room hotel is located adjacent to Mercedes-Benz stadium in downtown Atlanta, offering direct access to the world-class sports and entertainment venue...
Driftwood Acquisitions & Development Enters California Market With $85.7 Million Acquisition of 353-Key Marriott Mission Valley in San Diego
Driftwood Acquisitions & Development | March 20, 2019
SAN DIEGO (March 20, 2019) – Driftwood Acquisitions and Development (DAD) – a privately held investment firm specializing in the acquisition, development and investment syndication of quality hotel assets – announces its entry into the California market with the $85.7 million acquisition of the 353-key Marriott Mission Valley in San Diego. The firm also intends to develop a second hotel on the southwest corner of the same site. DAD is inviting accredited investors to co-invest in this hotel through its unique syndication platform, which allows clients to invest in institutional-quality, fully-financed, income-producing...
Leisure Real Estate Advisors, LLC Announces the Sale of the Holiday Inn Express & Suites, Newton, KS.
Leisure Real Estate Advisors, LLC | March 19, 2019
Leisure Real Estate Advisors, LLC, is pleased to announce it has arranged the sale of the Holiday Inn Express & Suites, Newton, KS. Leisure Real Estate Advisors, LLC based in metro Kansas City, represented a Kansas based developer, Broadway Hospitality, LLC. in the transaction. Newton Hotel Investments, Inc, an investment group based in Topeka and Kansas City, purchased the 68 unit hotel for an undisclosed price. The listing price was $5,300,000. "This Holiday Inn Express flag is a limited service premium brand and always attracts investment attention", comments Brent A. Jaynes, Managing Partner with Leisure Real Estate Advisors. "T...
Brookfield Asset Management to Acquire Four Hotels From Hotel Leelaventure for $576 Million
March 18, 2019
March 19-- Mar. 19--MUMBAI -- Canada's Brookfield Asset Management has agreed to acquire four hotels and a land parcel from India's Hotel Leelaventure Ltd for INR3,950 crore, in what would be the largest-ever hotel deal by value in India. The deal culminates more than a year of talks between Brookfield and various stakeholders of debt-laden Hotel Leelaventure, which has been in the middle of financial restructuring. The board of Hotel Leelaventure approved on Monday the sale and transfer of four of its hotel properties to an affiliate of BSREP III, Brookfield's latest real estate fund. The luxury hotel chain owns five hotels...
HP Hotels Adds Three Texas Hotels to Management Portfolio
HP Hotels Management, Inc. | March 18, 2019
Atlanta, Georgia, March 18, 2019 – HP Hotels, a full-service third-party hotel management company, announced today that it has added Texas to the growing list of states in which it has hotels under management with the addition of three properties there to its portfolio. Charles Oswald, President and CEO of HP Hotels, made the announcement. These newest hotels in HP Hotels' portfolio include: 123-room Holiday Inn Trophy Club – Trophy Club, Texas: The newly constructed Holiday Inn Trophy Club is conveniently located within minutes of both DFW International Airport and the Fort Worth Alliance airport. Also, nearby is Texas Mo...
R.D. Olson Breaks Ground on Dual-Branded Home2 Suites and Hilton Garden Inn Adjacent to Disneyland in Anaheim, California
R.D. Olson Construction | March 18, 2019
Irvine, Calif. (March 18, 2019) – R.D. Olson Construction, an award-winning general contracting firm commemorating 40 years of building in California this year, announced the groundbreaking on a 223 room, dual-brand hotel in Anaheim. Comprised of a Hilton Garden Inn and Home2 Suites, the 220,000-square foot property is located just two blocks from Disneyland Resort and will feature a host of family friendly amenities. The 100-room Home2 Suites will offer an extended stay experience featuring a full-sized sleeper sofa, workspace and in-suite kitchen complete with a refrigerator, cooktop, dishwasher, dishes and glassware. Additional...
Margaritaville Celebrates Groundbreaking of New Hotel on Jacksonville Beach, Florida
Margaritaville | March 15, 2019
Orlando, Fla. – March 15, 2019 – Margaritaville Holdings, the global lifestyle brand synonymous with fun and escapism, made the official announcement today that a new Margaritaville Hotel broke ground on Jacksonville Beach on March 8th. Located adjacent to the beach on Ocean Front North, the property will feature 202 guestrooms with Margaritaville's casual-luxe design, signature food and beverage concepts, a fitness center, and an outdoor recreation area with a pool and fire pits. "Jacksonville is one of the fastest-growing destinations in Florida and is well recognized as a classic beach town escape. We look forward to brin...
Queensgate Investments Acquires Four Grange Hotels for GBP 1B (US 1.3B)
Queensgate | March 15, 2019
[London: 15 March 2019]: Queensgate Investments has completed the acquisition of the Grange St Paul's EC4, Grange Tower Bridge E1, Grange City EC3, and Grange Holborn WC1 for circa GBP 1 billion. The portfolio comprises 1,345 Central London rooms, around 930,000 square feet of real estate. The four upscale hotels have significant meeting and conference space as well as boasting high quality spa and leisure facilities including swimming pools. The portfolio was sold by Grange Hotels, one of London's largest privately-held hotel groups which, following the transaction, will own and operate 13 hotels, primarily in Central London. Queensgat...
HVS Market Pulse: Detroit, MI
Brandon Leversee | March 14, 2019
By Brandon Leversee Detroit's image of a proper rust-belt city in the depths of despair during the Great Recession and the subsequent filing of bankruptcy in 2013 has been reshaped into an inspiring story of resilience and resurgence. Detroit's economy is strong, with unemployment decreasing every year since 2014 and an employment base that continues to diversify. While the economic mainstays—General Motors, Ford, and Fiat Chrysler—still thrive in the city, other major employers belong to the financial and healthcare sectors; moreover, the technology sector continues to grow. The strengthening of the local economy has positi...
Hilton Signs With Natura Development II N.V. to Develop Embassy Suites by Hilton Hotel in Aruba
Embassy Suites by Hilton | March 14, 2019
MCLEAN, Va. – March 14, 2019 – Hilton (NYSE: HLT) today announces plans to debut the upscale, all-suite Embassy Suites by Hilton brand in Aruba in 2021, following a management agreement with Natura Development II N.V. Scheduled to open in mid-2021, the new-build 330-suite oceanfront Embassy Suites by Hilton Aruba Resort marks Hilton's second hotel on the island and reinforces the company's continued expansion plans in the Caribbean. "The signing of Embassy Suites by Hilton Aruba Resort underscores Hilton's commitment to expanding its portfolio across the Caribbean," said Juan Corvinos, vice president, development, C...
Best Western® Hotels & Resorts Celebrates Groundbreaking of Vib® Hotel in Orlando, Florida
March 14, 2019
PHOENIX, AZ (March 14, 2019) – In a groundbreaking ceremony held Tuesday, March 12, Best Western Hotels & Resorts celebrated the arrival of its upscale boutique hotel brand – Vīb – in Orlando, Florida. A perfect reflection of what Best Western offers today's travelers with a stylish design and focus on convenience and technology, Vīb Orlando will bring a fresh look and comfortable amenities to the heart of Central Florida's most popular tourism destination. "We are excited to celebrate the groundbreaking of our innovative and sophisticated Vīb brand in Orlando," said Ron Pohl, Senior Vice President and Chief Ope...
Times Square Hotel Goes to Auction on RealINSIGHT Marketplace on April 8th
RealINSIGHT Marketplace | March 13, 2019
NEW YORK—March 14, 2019—RealINSIGHT Marketplace and CBRE are pleased to present Hotel Shocard, a 47-room, full-service hotel located in Times Square, NY for your acquisition consideration. The auction will take place on the online commercial real estate sales platform, RealINSIGHT Marketplace, April 8th - April 10th. About the Property: One Building Six Floors 47 Rooms Renovated in 2016 This offering provides investors with the rare opportunity to acquire a top-located hotel with substantial upside from improving the assets, modernizing operations and benefiting from economies of scale from an owner/operator's existing...
Cambridge Landmark Acquires Former Sheraton Downtown Philadelphia From The Blackstone Group
Cambridge Landmark | March 13, 2019
MIAMI, March 13, 2019 -- Cambridge Landmark, a hotel-focused private equity company, recently announced that it has closed on the acquisition of the former Sheraton Downtown Philadelphia, a 757-room full service hotel located in Center City and two blocks from the Pennsylvania Convention Center. The hotel currently operates as the Philadelphia 201 Hotel under the Marriott reservation system. With the closing of this transaction, a new franchise agreement has been signed with Marriott International for the property to regain the Sheraton brand upon completion of a $28-million renovation focused on upgrading the rooms, creating new suites...
Kimpton Hotels & Restaurants to Debut in Montana With Adaptive Reuse Project in Bozeman
Kimpton Hotels & Restaurants | March 13, 2019
SAN FRANCISCO (March,13 2019) -- Kimpton Hotels & Restaurants announced today its first property in Montana; an adaptive reuse scheduled to open in Bozeman early next year. Located in the heart of historic downtown Bozeman, the project will turn the National Guard Armory building into a 122-room hotel with a signature restaurant, a whisky and bar centric speakeasy featuring music and live entertainment, and 8,000 square feet of meeting and event space. The new Kimpton will also feature a concert hall designed to attract top musical performances, as well as a rooftop pool and bar where guests can enjoy breathtaking views of the Bridg...
Welcome Group Plans Late Spring Opening of AC Hotel Los Angeles South Bay
Welcome Group, Inc. | March 13, 2019
El Segundo, California – March 13, 2019 – The highly anticipated AC Hotel Los Angeles South Bay, from design-led European lifestyle hotel brand AC Hotels by Marriott®, is slated to open its doors to guests in just a few short months. Located at 2130 East Maple Ave. in the burgeoning South Bay region of Los Angeles County and minutes from Los Angeles International Airport (LAX), the 180-room new-build hotel will provide a sophisticated option for business and leisure travelers. Introducing a new hotspot for guests, as well as area residents and businesses, the six-story hotel will be home to a rooftop restaurant and bar w...
Key International Breaks Ground on AC Hotel by Marriott in Fort Lauderdale Beach, Florida
Key International | March 13, 2019
MIAMI (March 13, 2019) ─ Prominent, Miami-based real estate investment and development company Key International has broken ground on an AC Hotel by Marriott, the design-led lifestyle hotel brand by Marriott International. The property, which was acquired in 2016 as three adjoining land parcels that span more than a half-acre, is located in prime Fort Lauderdale Beach, Fla., and will feature 171 guest rooms amidst 10 stories. Located just steps from the beach, at 3029 Alhambra Street, the AC Hotel by Marriott Fort Lauderdale Beach is situated directly abutting the area's most popular tourist thoroughfare, Florida State Road A1A. The d...
