sotherly hotels inc
Former Crowne Plaza Reopens as DoubleTree Jacksonville Riverfront Following $12-million Renovation
DoubleTree by Hilton | September 10, 2015
JACKSONVILLE, Fla. and MCLEAN, Va. - DoubleTree by Hilton opened DoubleTree by Hilton Jacksonville Riverfront, situated directly on the popular Riverwalk, which connects to Friendship Fountain Park. Formerly a Crowne Plaza, DoubleTree by Hilton Jacksonville Riverfront opens following a $12-million property-wide renovation that includes a complete redesign of the lobby, meeting spaces, restaurant and guestrooms. The hotel is owned by Sotherly Hotels, Inc. and managed by Chesapeake Hospitality. "Today marks the second DoubleTree by Hilton hotel opening in Jacksonville this year. We are honored to be a part of this booming economy in such ...
SoTHERLY Hotels Acquires Crowne Plaza™ Hollywood Beach Resort in Hollywood, FL for $26.25 million
SoTHERLY Hotels Inc. | August 7, 2015
WILLIAMSBURG, Va., Aug. 07, 2015 -- SoTHERLY Hotels Inc. (NASDAQ:SOHO) (the "Company") today announced that the Company has acquired the remaining 75.0% interest in the entities that own the 311-room Crowne Plaza™ Hollywood Beach Resort (the "Hotel") located in Hollywood, Florida for $26.25 million. The Company previously owned a 25.0% non-controlling interest in the Hotel through a joint venture with an affiliate of The Carlyle Group. As a part of the transaction, the Company assumed the existing $57.0 million first mortgage with Bank of America, N.A. The loan carries a floating interest rate of the 1-month LIBOR rate plus 3.95%, is ...
