hotel transaction
Ensuring Your Deal Closes: Three Areas to Focus On
Eric Guerrero | October 31, 2024
Both buyers and sellers want a seamless hotel transaction closing, but a variety of potential pitfalls can slow a deal’s closing. Below, we review three key areas of a hotel sale that may present obstacles: financing, PIP costs, and property insurance premiums. We also provide recommendations that help you to anticipate and prevent issues. Financing Securing debt at a reasonable market rate with good terms is still one of largest obstacles in closing a deal. In order to obtain a good loan, a buyer must have a strong balance sheet with a credible global cash-flow and solid track record of success in owning and operating other hotels. Bu...
Reuben Brothers Acquire W South Beach From Tricap and RFR
Reuben Brothers | October 29, 2024
Miami Beach, FL (October 29, 2024) – In a milestone transaction that is set to redefine the luxury hotel market in Miami, Reuben Brothers have acquired the renowned W South Beach from Tricap and RFR. The landmark deal, valued at over $400 million, reinforces Reuben Brothers' commitment to strategically expanding their hospitality portfolio in the United States and beyond. David Edelstein (Tricap) and RFR acquired the 3.5-acre property in 2004 and commenced the development of a new world-class luxury hotel, W South Beach, along with The Residences at W South Beach. When it opened its doors in 2009, it significantly reshaped the landscape o...
Paramount Lodging Advisors Closes Out the Sale of the Courtyard by Marriott and Hampton Inn Statesville, NC
Paramount Lodging Advisors | October 28, 2024
Paramount Lodging Advisors (PLA) has successfully transacted the Courtyard by Marriott and Hampton Inn Statesville, NC. PLA Partners Mike Schlictman and Andrew Makhlouf represented the seller in the transactions. The 94-room Courtyard and 80-room Hampton Inn are both proximate to all local leisure demand generators, most notably Statesville Civic Center, Lake Norman, and Statesville Park and Soccer Complex. The properties were sold individually as part of a larger institutional portfolio sale. “As part of our ongoing efforts to deliver exceptional results for our clients, we’re proud to have recently brokered the sales of two instit...
A Brief Guide to Maximizing the Marketing and Buyer Activity of Your Hotel Listing
James Rebullida | September 30, 2024
Hotels are one of the few commercial real estate asset classes that have an operating business component. As such, selling a hotel is a complex process that requires strategic planning and execution to attract the most suitable buyer to successfully complete the transaction. As a hotel owner considering selling your property, you must understand how to maximize the marketing exposure and buyer activity for your listing. Here at HVS Brokerage & Advisory, we strive to follow a few key principles and best practices to enhance your property’s appeal, streamline the sale process, and ultimately secure a highly qualified buyer. These princip...
Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7, 2023
CHICAGO, IL - Paramount Lodging Advisors (PLA) has successfully executed the sale of a Marriott-branded Renaissance Hotel situated minutes from Chicago O’Hare International Airport. Managing Director Mike Schlictman and Director Andrew Makhlouf, along with Partners Bennett Webster and Brent Clemens represented the seller in the transaction. The full-service 362-key Renaissance Hotel opened in 2005 and features over 9,000 SF of meeting space and the Asado Urban Grill restaurant. The upscale property is ideally located in the top 3 MSA market of Chicago....
VICI Properties Inc. Completes Acquisition of Four Properties in Alberta, Canada in Sale-Leaseback Transaction With Century Casinos, Inc.
VICI Properties | September 7, 2023
Expands Partnership with Century Casinos, Inc. by Adding Four Additional Assets to Existing Master Lease NEW YORK — VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta, (collectively the “Century Canadian Portfolio”) from Century Casinos, Inc. (NASDAQ: CNTY)...
Newbond Holdings Acquires the 130-Key Aloft Tampa Downtown Hotel
Newbond Holdings | September 5, 2023
The acquisition marks the firm’s third hotel investment in Downtown Tampa NEW YORK CITY (September 5, 2023) – Newbond Holdings (“Newbond”), a real estate and hospitality-focused investment platform, announces the acquisition of the Aloft Tampa Downtown Hotel. This transaction marks Newbond’s third hotel investment on the Downtown Tampa riverfront in the last 24 months, totaling more than 700 hotel rooms and over 800 feet of frontage on the Hillsborough River. Located on the Riverwalk in Downtown Tampa, the 130-key hotel offers an abundance of indoor and outdoor amenity space, including a waterfront pool and gym, corporate mee...
Waramaug Hospitality Acquires Atlanta Marriott Peachtree Corners
Waramaug Hospitality | August 23, 2023
August 23, 2023, Coral Gables, FL and Atlanta, GA — Waramaug Hospitality, a privately held investment firm focused on premium-branded select-service and full-service hotels, announced today it acquired the Atlanta Marriott Peachtree Corners located northeast of Atlanta's Interstate-285 beltway perimeter, within the high-growth corridor surrounding Peachtree Industrial Boulevard. The 222-room Atlanta Marriott Peachtree Corners features a fitness center, indoor pool, and outdoor fire pit seating area. With over 5,000 square feet of meeting space spread throughout nine rooms, the largest of which totaling 3,000 square feet with a capacity of...
