Hotel Portfolio Sale
White Lodging Exits Suburban Hotel Markets, Boosts Focus on Experiential Urban & Lifestyle Hotels
White Lodging | March 24, 2022
Merrillville, Indiana – March 24, 2022 – White Lodging recently closed on an agreement to sell 25 suburban management contracts. The transaction, combined with planned individual suburban hotel sales, supports White Lodging’s multi-year strategy to exit suburban markets altogether. This transformation focuses the company’s resources across a concentrated urban portfolio with more complex hotels that deliver memorable and elevated guest experiences. Read more about the transition in the latest edition of Hotel Business. “This strategic portfolio shift further defines our position in the industry and reinforces our focus on u...
KSL Capital Partners Acquires Luxury Hotel Portfolio From Davenport Hotels in Spokane, WA
KSL Capital Partners | December 9, 2021
SPOKANE, WA - December 9, 2021 - KSL Capital Partners, LLC (KSL) announced today a definitive agreement under which an affiliate will acquire the privately held Davenport Hotels from Walt and Karen Worthy, who assembled the portfolio of the five top luxury, convention, business and leisure hotels in Spokane, WA over the past two decades. Terms of the off-market transaction will not be disclosed. The transaction is expected to close within the next 30 days. Upon completion of the sale, Davenport Hotels will continue to build on the legacy established by the Worthys, who plan to retire, and operate under the continued leadership of Lynnelle ...
JMBM Is Hotel Counsel for Condor Hospitality in $305 Million Hotel Portfolio Sale
Global Hospitality Group® | September 29, 2021
LOS ANGELES, CA – September 29, 2021 – The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce its representation of Condor Hospitality Trust in the sale of the company's entire portfolio to Blackstone Real Estate Partners. The $305 million deal was announced September 23, 2021 and is expected to close by the end of the year. Condor Hospitality Trust (NYSE American:CDOR) is a publicly-traded real estate investment trust specializing in the ownership of premium-branded select-service, extended stay, and limited-service hotels franchised under brands including Hilton, Marriott, and IHG. J...
