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
Fort Worth, TX Holiday Inn Hotel for Sale on RealINSIGHT Marketplace This December
RealINSIGHT Marketplace | November 5, 2019
This December, Holiday Inn Fossil Creek, a 126-room, full-service hotel is available for purchase through the online commercial real estate sales platform, RealINSIGHT Marketplace. The offering, presented by Paramount Lodging Advisors, provides potential investors with the opportunity to acquire the fee simple interest in a receiver controlled and operated 126-room Holiday Inn hotel with the opportunity to convert to a new Doubletree by Hilton franchise agreement upon sale. About the Hotel: 126 Rooms Five Floors Full Service 2,801 SFof Function Space Built in 2008 Unencumbered of Management and Brand A...
Radisson Providence Airport Hotel Will Be Auctioned on RealINSIGHT Marketplace This November
RealINSIGHT Marketplace | October 24, 2019
This November, Radisson Providence Airport Hotel, a newly renovated, full service, airport hotel optimally located in Warwick, Rhode Island, will be auctioned through the online commercial real estate platform, RealINSIGHT Marketplace. The offering, presented by Berkadia and RealINSIGHT Marketplace, represents a compelling opportunity to acquire a value-add opportunity with built-in operational efficiency upside. The Radisson Providence Airport Hotel recently completed a comprehensive $2.5 million renovation and now offers the newest rooms product in its competitive set, requiring minimal change of ownership PIP expenses for a new owner...
A Unique Opportunity in Coastal Maine
October 8, 2019
A UNIQUE OPPORTUNITY IN COASTAL MAINE Portions of the former Point Lookout Resort in Northport, Maine are now available for lease THE SITE AVAILABLE FOR LEASE INCLUDES: • (10) 3 bedroom cabins • (28) 2 bedroom cabins • (2) 1 bedroom cabins • Bowling Alley • Hedges Hall • Copper Pine café • The Education Center A WORLD CLASS FACILITY WITH VIEWS OF THE OCEAN. This once in a lifetime opportunity is now available with possibilities as an event center, retreat and resort. For more information pl...
Avison Young Announces Recent 2019 Closings
Avison Young | August 21, 2019
ATLANTA – August 21, 2019 – Avison Young Hospitality Group announced that the firm recently closed seven hotel transactions ranging from a full service Marriott hotel to select service properties located from California to Vermont. Additionally, the firm expects to close six transactions over the next five weeks and 25 transactions throughout the 3rd and 4th quarter of 2019....
Tennessee Quality Inn & Suites Will Be Auctioned on RealINSIGHT Marketplace This September
RealINSIGHT | August 19, 2019
CENTERVILLE, TN—August 19, 2019—RealINSIGHT Marketplace and CBRE Hotels are pleased to offer the fee-simple interest in the 39-room Quality Inn & Suites, situated in Centerville, Tennessee. This full-service hotel is situated along Highway 100, between Highway 50 and Highway 48, and is approximately 15 miles from Interstate 40. This Quality Inn & Suites benefits from great accessibility and is within close proximity to some of Centerville’s main demand generators, including the Duck River (1.8 miles), Centerville RiverPark, Life Care Center of Centerville, Saint Thomas Hickman Hospital, Pink Cadillac Drive In Movie Theater, G...
Pennsylvania Hampton Inn to Be Auctioned on RealINSIGHT Marketplace
RealINSIGHT Marketplace | August 15, 2019
PITTSBURGH, PA—August 15, 2019—RealINSIGHT Marketplace and Berkadia are pleased to offer the fee-simple interest in the 88-room Hampton Inn Wexford Sewickley for your acquisition consideration. The most recent proto-type Hampton Inn is ideally located just off Interstate 79, one of the Ohio Valley’s primary north-south corridors running from Lake Erie to the north and to Charleston, West Virginia to the south. The Hotel is also 15 miles north of downtown Pittsburgh’s many businesses and regionally popular leisure attractions. This represents an exceptional opportunity for investors to acquire a new-build Hampton, which is also t...
486-Room Full-Service Sheraton Park Anaheim Goes to Auction on RealINSIGHT Marketplace
RealINSIGHT Marketplace | August 13, 2019
ANAHEIM, CA—August 13, 2019—RealINSIGHT Marketplace and Berkadia are pleased to offer for sale the leasehold interest in the 486-room, Sheraton Park Hotel at The Anaheim Resort for your acquisition consideration. Located steps from the Anaheim Convention Center, Disneyland® Resort, Disneyland California Adventure® Park, Downtown Disney, and the Anaheim Garden Walk. This represents an exceptional opportunity for investors to acquire an institutional quality, full-service, Marriott branded hotel in a premium location with significant operational upside through renovation/brand conversion, leasing vacant space, reconfiguring the hotel layo...
Rare Opportunity to Acquire an Inner Harbor Hotel
RealINSIGHT Marketplace | July 11, 2019
BALTIMORE—July 11th, 2019—RealINSIGHT Marketplace and Berkadia are pleased to offer the opportunity to acquire the Brookshire Suites Inner Harbor Hotel. This 97-room, full-service and recently renovated hotel offers 77 spacious one-bedroom suites and 20 studio suites. The sale will take place on RealINSIGHT Marketplace, the online commercial real estate sales platform, on July 29th – July 31st. This Property is in the desirable heart of Baltimore’s Inner Harbor neighborhood surrounded by billions of dollars of new development juxtaposed with the city’s historic district. This location also offers incredible walking access to seve...
Opportunity to Acquire Value-Add Hampton Inn Mobile
RealINSIGHT Marketplace | July 10, 2019
MOBILE, AL—July 10th, 2019—>RealINSIGHT Marketplace and Berkadia are pleased to offer the opportunity to acquire the Hampton Inn Mobile. This 80-room three-story midrise hotel is ideally located within ten miles of downtown Mobile. The auction will take place on RealINSIGHT Marketplace, an online commercial real estate sales platform, on July 30th – August 1st. This Property is ideally located off Interstate 10, the southernmost cross-country interstate highway which connects major cities such as, Los Angeles, Phoenix, San Antonio, New Orleans, and Jacksonville. The Hampton Inn’s stellar historical performance demonstrates its s...
Avison Young Announces Recent Closings
Avison Young | June 27, 2019
ATLANTA – June 27, 2019 – Avison Young Hospitality Group announced that over the last several weeks the firm has closed a Marriott hotel in Pennsylvania, a select service hotel in DC and a resort hotel with golf in the northeast. The firm has 28 hotels under sale agreement with closings scheduled over the coming months and has closed 392 hotels since 2013....
Pinnacle Advisory Group Issues Hotel Management RFQ for a 225-Room Hotel at the University of Virginia
Pinnacle Advisory Group | June 24, 2019
On behalf of the University of Virginia, Pinnacle Advisory Group is seeking qualifications from a hotel management company to develop and operate a proposed independent, upper upscale, hotel with 225-rooms and 25,000 SF of meeting space on the campus of UVA. To receive a copy of the RFQ please contact Anne Purcell (apurcell@pinnacle-advisory.com)....
Bay Tree Solutions Applauds ARDA Stance on Timeshare Exit Firms
Bay Tree Solutions | June 21, 2019
June 21, 2019 (ATLANTA, GA) -- Bay Tree Solutions, one of the timeshare industry’s most robust and ethical online timeshare marketplaces, issued a statement applauding the timeshare industry’s stance on timeshare exit firms. In a recent press release from ARDA (American Resort Development Association) entitled “Judges Ruling Demonstrates the Pattern of Fraud and Deception Perpetrated by Exit Firms on Unsuspecting Timeshare Owners” Robert Clements, VP of Regulatory Affairs and General Counsel of ARDA said “timeshare owners were deceived into paying large upfront fees for services that the exit company knew it could not deliver.” He...
Towneplace Suites by Marriott to Open in the Outer Banks With General Manager Amanda Phillips at the Helm
TownePlace Suites by Marriott | June 10, 2019
Kill Devil Hills, NC – June 10, 2019 – Get ready to be real and be you on long stays. Marriott International’s TownePlace Suites by Marriott Outer Banks Kill Devil Hills is scheduled to open for business this month. Built for travelers looking for a simple and friendly place where they can settle-in, keep their routine, and easily connect to the Outer Banks area. The new hotel located at 2028 South Virginia Dare Trail, will operate as a Marriott franchise, owned by First Flight Hotel, LLC and managed by Rocklight Capital of Williamsburg, Virginia. “We are excited to introduce the TownePlace Suites brand to the Outer Banks area,” ...
MSD Partners Closes Sale of 1,047-Room Boca Raton Resort & Club From Blackstone Group for $461.6 Million
MGM Resorts International | June 10, 2019
Jeff Ostrowski | The Palm Beach Post, Fla. June 07--In the biggest property sale in Palm Beach County history, the Boca Raton Resort & Club sold this week for $461.6 million, according to deeds made public Thursday. A company affiliated with billionaire Michael Dell announced in April that it would buy the iconic club from Blackstone Group, but the buyer and seller didn't disclose the price at the time. Dell's MSD Partners is the new owner of the 1,047-room hotel. Dell himself visited the hotel several times from 2000 to 2004, when the Boca Resort hosted annual meetings of The Business Council, an organization made up of the heads of th...
Briad Group Holds “Top-Off” Celebration for AC Marriott Bridgewater, New Jersey
The Briad Group® | June 10, 2019
Bridgewater, NJ, June 7, 2019 – AC Hotels by Marriott, an upscale lifestyle hotel, celebrated a major construction milestone yesterday with a “top-off” party marking the completion of the property’s roof. Conveniently located off of Route 202 and I-287, the hotel is minutes away from the Bridgewater Commons Mall and features a walkway to Zinburger Wine & Burger Bar, a boutique burger restaurant. AC Marriott Bridgewater will be the brand’s first property in New Jersey and will employee approx. 100 people. The property is owned and managed by Briad Lodging Group, LLC, the hotel division of Livingston, New Jersey-based The Briad ...
Hotel construction is booming as developers bet on Bakersfield’s economy
June 5, 2019
June 06-- Jun. 6--Expectations that Bakersfield's economy is on the rise have created the city's biggest hotel boom since the Great Recession. Half a dozen hotels with a combined 658 rooms are proposed or under construction, all on the city's west side and many of them extended-stay properties geared toward business travelers. Some of the incoming brands are entirely new to the city. Hoteliers say the rush of private investment is being driven in part by other local projects, such as the Amazon distribution center under construction near Meadows Field Airport. There's also a sense the city's relatively low housing an...
Hyatt Enters Agreement for Hyatt Regency Coco Beach Resort in Puerto Rico
Hyatt Hotels Corporation | June 5, 2019
CHICAGO (June 5, 2019) - Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a franchise agreement with Coco Hotel 1 LLC for a new hotel, expected to open July 2019 as a Hyatt affiliated hotel and then become Hyatt Regency Coco Beach Resort after an extensive renovation is completed this fall. The 486-room hotel with 93 branded residencies will be managed by Aimbridge Hospitality and signifies Hyatt's continued brand growth on the island of Puerto Rico and across the Caribbean region. The hotel will be the brand's only full-service property in Puerto Rico. The hotel will operate as The Resort at Coc...
Pebblebrook Hotel Trust to Sell LA’s 132-Room Hotel Amarano Burbank for $72.9M
Pebblebrook Hotel Trust | June 3, 2019
BETHESDA, Md.-- 6/3/2019 -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it executed a contract to sell the 132-room Hotel Amarano Burbank in Los Angeles, California for approximately $72.9 million to a third party. The contracted sale price reflects a 15.8x EBITDA multiple and a 5.7% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. Based on the trailing 12-month period ended March 2019, the contracted sales price reflects a 16.9x EBITDA multiple and a 5.3% net operating income capitalization ra...
IHG ANA Hotels Group Japan and Yokohama Grand InterContinental Co. Setting Sail in Yokohama With New InterContinental Hotel
| May 31, 2019
InterContinental Hotels Group (IHG®) has announced InterContinental Yokohama Pier 8 will open its doors to guests in November 2019 in the Minato Mirai area of Yokohama. The franchise agreement was made by IHG's domestic operating company, IHG ANA Hotels Group Japan (Head office: UK, Japan: Tokyo; CEO: Hans Heijligers) and Yokohama Grand InterContinental Co., Ltd. (Yokohama City, Kanagawa Prefecture Nishi-ku Minato Mirai 1-1-1, President and Representative Director: Azuma Umemura). InterContinental Yokohama Pier 8 will be built on the premises of the 'Yokohama Hammer Head Project' which is developed by SHINKO PIER CRUISE TERMINAL Co.,Lt...
Residence Inn by Marriott Opens in Big Sky, Montana Led by General Manager Mandy Hotovy
Residence Inn by Marriott | May 31, 2019
Big Sky, MT – May 31, 2019 – The 129-suite Residence Inn by Marriott in Big Sky, Montana is now open with its upscale, stylish décor that offers flexibility, while creating a unique environment. Located at 145 Town Center Avenue, the all-suite Residence Inn Big Sky/The Wilson Hotel will operate as a Marriott franchise, owned by Town Center Investment Holdings, LLC and managed by Urgo Hotels & Resorts of Bethesda, Maryland. Centrally located in the heart of the Big Sky community and just a short drive from some of Montana's most spectacular sites including Yellowstone National Park, the Residence Inn Big Sky/The Wi...
Kimpton Hotels & Restaurants to Redevelop Omaha’s Century-Old Blackstone Hotel and Office Building Into 205-Room Kimpton Omaha
Kimpton Hotels & Restaurants | May 31, 2019
SAN FRANCISCO (May 31, 2019) -- Kimpton Hotels & Restaurants announced today its first property in Nebraska, a complete rehabilitation of the historic Blackstone Hotel and former office building. The project is scheduled to open in the spring of 2020. Located in the popular and vibrant Blackstone District of Omaha near several iconic American companies, including Berkshire Hathaway, Mutual of Omaha, Ameritrade, and the Kiewit Corporation as well as the University of Nebraska Medical Center, the century-old property will feature 205 guestrooms, a steakhouse and the reimagined celebrated Cottonwood Room bar. A swimming pool in a resort-s...
Sam Moon Group Plans September 2019 Opening of 130-Room Hyatt Place Fort Worth/Alliance Town Center
Hyatt Place | May 30, 2019
FORT WORTH (May 30, 2019) – Hyatt Place Fort Worth/Alliance Town Center is expected to open in September 2019. The new, five-story, 130-room hotel will offer business and leisure travelers an open, intuitive design, casual atmosphere, and practical amenities, such as free Wi-Fi, 24-hour food offerings and a 24-hour fitness center. "Fort Worth is a world-class city and key business and leisure destination, and Hyatt Place Fort Worth/Alliance Town Center will add a wonderful new option for business and leisure travelers visiting the Alliance area," said General Manager Erin Alamillo. Hyatt Place Fort Worth/Alliance Town Center will be s...
Avison Young Announces Recent Closings
Avison Young | May 30, 2019
ATLANTA – May 30, 2019 – Avison Young Hospitality Group announced that with several closings over the last three weeks the firm has closed one hotel a week since January 2019 totaling $355,000,000 year to date in asset value. Additionally the firm has $401,000,000 under sale agreement with closings scheduled over the summer. Since 2013, the Avison Young Hospitality Group has closed 106 Marriott branded hotels, 72 Hilton branded assets, 50 IHG branded assets and 163 historic, upscale boutique, resort and other branded hotels. ...
Century Group Celebrates Opening of TRYP Pittsburgh | Lawrenceville Led by General Manager Dan Zwirn
May 30, 2019
PITTSBURGH, May 30, 2019 -- TRYP Pittsburgh | Lawrenceville has opened its doors and will celebrate its official opening on June 6, 2019. Pittsburgh's first art hotel features work by over 30 local artists and is located in the former Washington Education Center at the base of the 40th Street Bridge in Pittsburgh's Lawrenceville neighborhood. TRYP Pittsburgh | Lawrenceville is the first TRYP by Wyndham concept in the state of Pennsylvania and was developed by Century Hospitality, a hospitality group with locations in Pittsburgh, Pennsylvania and Wheeling, West Virginia. TRYP Hotel's concept is unique to each city and each city neighborhood...
