Investment News
Newswire
Why hotel developers are delighted about the prospect of an open Cuba   19 Dec, 2014

Newswire By: David Eisen

If all goes as planned, soon you'll be able to have your Cuban cigar—and smoke it, too, legally. As good as that may sound, hotel companies are even more excited at the prospect of planting their flags on the island nation. Here's how it stands right now. More>>

Newswire
Pullman La Defense Paris sold to Qatar fund   19 Dec, 2014

An affiliate of the Qatar Armed Forces Investment Portfolio (QAFIP) has acquired the Pullman La Defense Paris from global investment manager, Invesco Real Estate, acting on behalf of one of its dedicated hotel funds. Accor will continue to operate the hotel under a long-term lease agreement. More>>

Newswire
Pebblebrook acquires Revere Hotel Boston Common    19 Dec, 2014

Pebblebrook Hotel Trust has acquired the Revere Hotel Boston Common, an attached 826-space parking garage and an adjacent land parcel for $260.4 million. The 356-room upper-upscale hotel, built in 1972, is located in Boston's Theater District. More>>

Newswire
Ireland's Dalata makes splashy €455-million buy   18 Dec, 2014

Newswire By: David Eisen

Dalata, which operates 38 hotels comprising 6,000 rooms solely in Ireland, is set to acquire most of the Moran Bewley’s Hotel Group for a reported €455 million, or around US$560 million. Dalata is acquiring nine of the Moran hotels, comprising 2,506 rooms in Ireland and Britain. More>>

Newswire
REIT LaSalle acquires Portland's Heathman Hotel   18 Dec, 2014

One of Portland's more well-known hotels has a new owner. Bethesda, Md.-based REIT LaSalle Hotel Properties has acquired the Heathman Hotel, reports the Portland Business Journal, which adds that long-time GM Chris Erickson, who had been at the property since 2006, and DOSM Stephen Galvan were...More>>

Newswire
Trendy Mondrian Soho hits the sale block; most likely to bring in north of $200M   18 Dec, 2014

The 270-room Mondrian Soho is on the auction block, The Real Deal reports. This following foreclosure proceedings launched in January 2013 by lender German American Capital Corporation. The Manhattan hotel on Crosby Street in Soho, will be sold at a sale scheduled for January 7, 2015, according to...More>>

Newswire
L.A.'s Ace hotel hits the market less than a year after opening   17 Dec, 2014

Now you can be the owner of one of the hipper brands on the market. Word out of Los Angeles is that the Ace hotel there is on the market. This according to the Los Angeles Business Journal, which writes that the owner, Greenfield Partners, is seeking $550,000 per room for the 182-room hotel.More>>

Newswire
Hyatt sells Toronto Park Hyatt for $90M   17 Dec, 2014

Oxford Properties Group has purchased the 346-room Park Hyatt Toronto hotel from Hyatt for approximately US$90 million or $260,000. Oxford intends to spend approximately $25 million more in additional capital expenditures over the next five years. Hyatt will continue to operate the hotel. More>>

Newswire
HREC arranges sale of Sheraton Denver Tech Center   17 Dec, 2014

HREC Investment Advisors successfully brokered the sale of the Sheraton Denver Tech Center, in Greenwood Village, a suburb of Denver, representing the seller of the 263-room full-service hotel. The selling group consisted of funds affiliated with Varde Partners, Waramaug and Interstate Hotels. More>>

Newswire
For $430 million, IHG buys a boutique hotel chain   16 Dec, 2014

Newswire By: David Eisen

Amid a rumor mill that churns out speculative reports of stockholders pushing for a sale of InterContinental Hotels Group, the UK-based hotel operator has made an acquisition of its own, acquiring Kimpton Hotels & Restaurants Group for $430 million. More>>

Newswire
Newly acquired Louvre Hotels to invest heavily in India   16 Dec, 2014

Louvre Hotels Group, recently acquired by Jin Jiang International Holdings, China's biggest hotel company, will reportedly invest over $100 million in the Indian hospitality space over the next three years, a top company executive told The Economic Times.More>>

Newswire
Blackstone makes big investment in Singapore   16 Dec, 2014

Investment group Blackstone and Malaysia's CIMB Bank will invest in three Sentosa Cove properties in Singapore owned by City Developments (CDL), including the W Singapore hotel, in a complex transaction valued at S$1.5 billion, or around US$2 billion.More>>

Newswire
Dublin offers value for high-end hotel developers   16 Dec, 2014

The city's economic recovery is well underway, and a new report from global hotel consultancy HVS London indicates that Dublin has many opportunities for hotel developers, particularly in the luxury and economy sectors, according to.More>>

Newswire
Luxury makes a stirring comeback   15 Dec, 2014

Newswire By: David Eisen

Luxury hotel development is on a hot streak as developers seek out new projects. Where is the growth? And, moreover, where is the glut?More>>

Newswire
Malaysia group acquires London's Grand Plaza Kensington   15 Dec, 2014

Federal Land Development Authority (FELDA) subsidiary, Felda Investment Corporation (FIC), recently acquired the 62-room Grand Plaza Kensington Hotel in London, in a move to diversify its investment assets.More>>

Newswire
HREC arranges sale of San Antonio Holiday Inn   12 Dec, 2014

Pacifica Companies, a San Diego-based investment firm, acquired the property. Mike Armstrong, principal in HREC Investment Advisors' San Diego office and Hank Wolpert, VP of the Dallas office, exclusively represented the seller during the transaction.More>>

Newswire
Boutique Williamsburg property secures $40M loan   12 Dec, 2014

Named the Williamsburg Hotel, the building is taking shape on North 10th Street between Wythe and Kent avenues. The project is slated for completion in the late summer or early fall of 2015. G4 Capital Partners, which focuses on specialty loans in Brooklyn and other neighborhoods in the boroughs,...More>>

Newswire
D.C.'s Fairmont hotel sells for $180M   12 Dec, 2014

Ivanhoe Cambridge sold the 415-room hotel for about $434,000 a room. Fairmont Hotels & Resorts will continue to manage the property. The Fairmont was built in 1985 and renovated in 2002. The sale comes two months after the Park-Hyatt Washington was acquired for $100 million, or $462,963 per key, by...More>>

Newswire
Qatar firm acquires 50 percent of London's Savoy Hotel   12 Dec, 2014

Newswire By: Elliott Mest

The Savoy first opened in 1889, and reopened in October 2010 after a $360-million renovation that took about 30 months.More>>

Newswire
Washington, D.C. firm purchases Marriott Cape Canaveral   11 Dec, 2014

Colliers International closed the sale of the Residence Inn by Marriott Cape Canaveral on behalf of A1A Acquisition Group and Ocean Partners, the hotel's developer and owner/operator, to Capstone Development of Washington, D.C. Capstone and their institutional partners acquire high-quality lodging...More>>

Newswire
JLL arranges sale of the Hotel Palomar Los Angeles   11 Dec, 2014

Pebblebrook Hotel Trust purchased the 264-room property for $78.7 million. The hotel was sold subject to a long-term ground lease, and Kimpton Hotels & Restaurants will continue to manage the property for the new owner.More>>

Newswire
Pebblebrook Hotel Trust acquires Nashville's Union Station Hotel   11 Dec, 2014

The 125-room historic landmark hotel is located on Broadway, in the center of downtown Nashville, Tenn. The property will maintain its association with Marriott's Autograph Collection and will be operated by Sage Hospitality.More>>

Newswire
Three upcoming hotels in Amsterdam   10 Dec, 2014

A new Radisson, the Netherlands' first W and first Element hotel are all in Amsterdam's pipeline for 2015 and 2016.More>>

Newswire
Hyatt, Starwood make moves to open Japan hotels in 2015   10 Dec, 2014

Newswire By: Elliott Mest

The new Hyatt Regency Naha in Okinawa is being built under a Hyatt affiliate's franchise agreement with PHR Okinawa Hotel Management, a subsidiary of Ken Corporation. The 294-room hotel will have four F&B outlets, meeting space, a fitness center and an outdoor swimming pool. The property is...More>>

Newswire
InnVest buys Hyatt Regency in Vancouver   9 Dec, 2014

The hotel was purchased for $140 million, the equivalent of $217,000 per room. Following completion of the sale, a Hyatt Hotels affiliate will continue to manage the hotel under a new long term management contract. The sale is expected to close this month.More>>

Newswire
Al Habtoor Group to spend $545M on Dubai development   9 Dec, 2014

Newswire By: Elliott Mest

The Dubai-based Al Habtoor Group plans to build two new hotels, 74 homes and a polo club in the city for an estimated $545 million. This uptick in construction the Habtoor Group's response to the growing property market in Dubai, where occupancy is sitting at 77.8 percent. In total, the Al Habtoor...More>>

Newswire
Marcus & Millichap sells Houston Holiday Inn   9 Dec, 2014

Jake Gaddy, senior associate and Steve Swenholt, associate, both in Marcus & Millichap's Austin office, represented the seller, a Houston-based developer. Chris Gomes, VP investments in the firm's Dallas office, along with Allan Miller, VP investments in San Antonio, represented the buyer, a...More>>

Newswire
Warmbrodt Hotel Investments sells the Holiday Inn Fort Smith   9 Dec, 2014

WHI was the exclusive adviser on behalf of the seller. The property was sold to an institutional investor at an undisclosed price. The purchaser plans renovations to the guest rooms and public spaces. The Holiday Inn Fort Smith-City Center is a full-service, nine-story, interior-corridor, atrium...More>>

Newswire
HFF closes $27M sale of waterfront development site in Sarasota, Fla.   9 Dec, 2014

HFF represented the seller, an affiliate of National Asset Management Agency (NAMA). Jacksonville, Florida-based GreenPointe Communities purchased the asset for $27 million. The property is entitled for the development of 695 residential units, 190,000 square feet of commercial space and 175 hotel...More>>

Newswire
IHG takes $405M offer from Constellation on Le Grand in Paris   8 Dec, 2014

Newswire By: David Eisen

The expected sale of a luxury hotel in Paris, which Hotel Management reported on back in August, has now been confirmed: InterContinental Hotels Group has accepted a $405 million cash offer from Constellation Hotels Holding for Le Grand hotel in Paris.More>>



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