real estate investment trust
Pebblebrook Hotel Trust Announces the 12th Annual Pebby Award Winners
Pebblebrook Hotel Trust | March 12, 2024
Celebrating the Year’s Best Hotels HOLLYWOOD, Calif.--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company” or “Pebblebrook”) today announced the winners of its Twelfth Annual Pebby Awards. The Pebby Award winners were chosen for their outstanding accomplishments in 2023, as determined by Pebblebrook’s selection committee. “As we celebrate our twelfth year of the Pebby Awards, we’ve witnessed an unprecedented level of competition and excellence,” said Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust. “Our hotel teams have consistently exemplified exceptional performance and leadership, and it...
Baird/STR Hotel Stock Index Down 2.4% in October to a Level of 5,600
Baird | November 10, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index decreased 2.4% in October to a level of 5,600. "Hotel stocks fell for the third consecutive month in October, and performance directionally tracked the broader indices,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Interest rates remained a key driver of performance, and elevated interest rates weighed on real estate stocks, which caused the hotel REITs to be relative outperformers during the month. The global hotel brands’ approximate 2% decline nearly matched the S&P 500’s pullback in October.” “U.S. h...
Apple Hospitality REIT Acquires the Courtyard by Marriott Cleveland University Circle for $31M
Apple Hospitality REIT, Inc. | July 6, 2023
RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the newly renovated Courtyard by Marriott Cleveland University Circle (the “Hotel”) for $31 million, or approximately $201,000 per key. “We are pleased to grow our portfolio with the acquisition of this custom-designed, recently renovated Courtyard by Marriott in the heart of Cleveland’s University Circle district,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “Cleveland offers a wide variety of demand generators from business and leisure to academic, heal...
Ryman Closes Acquisition of JW Marriott San Antonio Hill Country Resort & Spa From Blackstone REIT for $800M
Ryman Hospitality Properties, Inc. | July 5, 2023
NASHVILLE, Tenn., July 5, 2023 -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (“Ryman”) announced today it has closed the previously announced acquisition of the JW Marriott San Antonio Hill Country Resort & Spa (“JW Hill Country”) in San Antonio, Texas from Blackstone Real Estate Income Trust, Inc. Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, said, “I want to thank our Ryman team and the Blackstone team for facilitating a smooth closing process. We are excited to begin integrating this beautiful resort into our one-of-a-kind portfolio of group hotels and look forward to pursuing...
Chatham Lodging Trust Acquires Hilton Garden Inn Destin Miramar Beach for $31M
Chatham Lodging Trust | March 9, 2022
WEST PALM BEACH, FL — March 9, 2022 — Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that the company has acquired the beachside 111-room Hilton Garden Inn Destin Miramar Beach, Fla., in an off-market transaction for $31 million, or approximately $279,000 per room. Recently opened in 2020, the hotel is within walking distance of the pristine white sands of the Gulf of Mexico. The hotel’s location in Miramar Beach is well situated in relation to the thriving Santa Rosa Beach and Destin ...
Chatham Lodging Trust Announces Solid Fourth Quarter 2021 Results
Chatham Lodging Trust | February 25, 2022
WEST PALM BEACH, FL — February 25, 2022 — Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced results for the fourth quarter ended December 31, 2021. Fourth Quarter 2021 Operating Results Portfolio Revenue Per Available Room (RevPAR) – Increased 93 percent to $92 compared to the 2020 fourth quarter. Average daily rate (ADR) accelerated 36 percent to $141, and occupancy jumped 43 percent to 65 percent for the 40 comparable hotels owned as of December 31, 2021 (excludes one Austin hotel...
Condor Hospitality Completes Sale of Its 15 Hotels Portfolio
Condor Hospitality Trust, Inc. | November 23, 2021
NORFOLK, NE – November 23, 2021 – Condor Hospitality Trust, Inc., a hotel-focused real estate investment trust (“REIT”) headquartered and incorporated in the state of Maryland, today announced that it has completed the sale of the Company’s 15 hotels. The sale of the hotels was completed pursuant to the previously announced Hotel Purchase and Sale Agreement, dated September 22, 2021, between the Company and B9 Cowboy Mezz A LLC, a Delaware limited liability company and an affiliate of Blackstone Inc. (the “Buyer”), in which the Company agreed to sell the hotels to Buyer and Buyer agreed to purchase the hotels for a purchase p...
American Hotel Income Properties REIT LP Announces Appointment of Travis Beatty as Chief Financial Officer
American Hotel Income Properties REIT LP | June 1, 2021
VANCOUVER, BC, June 1, 2021 - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN, HOT.U and HOT.DB.U) is pleased to announce that Travis Beatty has been appointed as its Chief Financial Officer effective June 7, 2021. Mr. Beatty is a strong organizational leader with a proven track record in the public REIT space as well as within the broader Canadian financial community, making him the ideal candidate to assume the role of CFO. Mr. Beatty was previously the Chief Financial Officer of Northview Apartment REIT ("Northview") from 2016 to 2020. Northview was a Canadian public REIT focused on owning and managing multi-family ...
