Blackstone Acquires 15-Hotel Portfolio from Pinnacle Hotel Management for $203 million

Hunter Hotel Advisors | July 16, 2015

ATLANTA, July 16, 2015—Hunter Hotel Advisors announced today that it represented Pinnacle Hotel Management (PHM) in the sale of a 15-hotel, select-service portfolio comprised of Marriott- and Hilton-branded hotels for $203 million to the Blackstone Group. Nine of the hotel transactions already have closed, with the remaining six scheduled to close in November. Hunter's Washington, D.C., and Atlanta offices worked together on the transaction, led by Teague Hunter, president, Mark Morris, senior vice president and Kyle Stevenson, senior vice president. "At this point in the cycle, premium, select-service portfolios are scarce, allowing ...