Investment News
Newswire
Holiday Inn San Jose sold by JLL   26 Jan, 2015

This purchase represents Aju's second in the country, and the firm expects to make additional purchases in the near future. The seller, Pacifica Companies, is a privately-owned San Diego based real-estate firm.More>>

Newswire
SIXTY Montreal to debut late 2016   26 Jan, 2015

SIXTY Montreal will be located between Place Des Art and Palais des Congres on Rene Levesque Boulevard in the Central Business District, a few blocks from Old Montreal. The project will entail the complete redevelopment of an existing building and will debut 120 guestrooms and suites, event spaces,...More>>

Newswire
Renaissance hotel opens in Allentown, Pa.   26 Jan, 2015

Developed by City Center Investment, the seven-story Renaissance Hotel is located adjacent to the PPL Center, a new 8,500-seat sports and events arena. The hotel offers 170 full-service guestrooms and suites and 11,000 square feet of meeting space.More>>

Newswire
Blackstone to sell Australian property for $327M   26 Jan, 2015

The Gold Fields House, a property in Sydney's business district will be sold to China's Dalian Wanda Group. The 1960s building overlooking Sydney Harbour Bridge and the Sydney Opera House was bought by Blackstone--along with other assets--with the purchase of property-portfolio company Valad in...More>>

Newswire
Arizona Country Inn & Suites sells for $10.9 million   26 Jan, 2015

Suites of Arizona sold the 126-unit, interior-corridor property to KCS Investment for $86,500 per room, which represents more than 98 percent of the list price. The hotel was built in 1998 and is located five miles west of Phoenix-Mesa Gateway Airport and 22 miles east of Phoenix Sky Harbor...More>>

Newswire
US investors to acquire Jurys Inn brand for over $1B   26 Jan, 2015

Newswire By: Elliott Mest

Jurys Inn, which has 31 properties across the UK, Ireland and Prague, is being grabbed up by five US investors, including Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners.More>>

Newswire
Competition, cheap debt, push M&A to record level   23 Jan, 2015

Newswire By: David Eisen

Global mergers and acquisitions grew to a record total in 2014, fueled by low borrowing costs and rampant competition. Data show that acquisitions of hotels, travel-services companies and tour operators in 2014 totaled $64.4 billion—more than twice the value in any of the previous six years.More>>

Newswire
HEI sells Houston Aloft Galleria   23 Jan, 2015

HEI Hotels & Resorts has sold the 152-room Aloft Houston Galleria. The buyer and price were not disclosed, though reports are that Westpark I, a Melville, N.Y.-based group bought the property. HFF represented HEI in the sale, which closed on Dec. 22. HEI will continue to manage the hotel, a few...More>>

Newswire
Commune expanding Joie de Vivre brand eastward   23 Jan, 2015

Commune Hotels & Resorts is bringing its Joie de Vivre Hotels eastward to Miami and New York City—part of its overall national expansion. Plans call for a restoration effort of a hotel in Miami Beach and a new-build development in New York City's Bowery neighborhood.More>>

Newswire
Crowne Plaza in Bloomington, Minn., sells for $30M   23 Jan, 2015

Minnesota's Keading Management has acquired the Crowne Plaza in Bloomington, Minn., for $30 million, reports the Minneapolis/St. Paul Business Journal. The 430-room hotel, which had been on the market since last May, was sold by New York-based Trinity Hotel Investors and Boston-based BayNorth...More>>

Newswire
Hotel groups cajole developers, customers with affordable luxury   22 Jan, 2015

Newswire By: Bruce Serlen

According to the most recent data from PKF Hospitality Research showing RevPAR for the luxury-lodging segment jumping almost 7 percent in 2015.More>>

Newswire
Blackstone sells Hilton Rose Hall in Jamaica    22 Jan, 2015

Aimbridge Hospitality has been tapped to manage the hotel, which was put on the market last year by investment firm Blackstone and acquired by Sagicor. The hotel will continue to operate as the Hilton Rose Hall Resort and Spa.More>>

Newswire
Budget Etap hotel in Belfast sold for $9.9M   22 Jan, 2015

The city center building on the Dublin Road was sold to CBRE Global Investors. The sale also includes a ground floor retail unit. The 146-room hotel is operated by Accor.More>>

Newswire
Red Lion sells stake in 12 hotels, converts three to lifestyle brand   22 Jan, 2015

As part of the transaction, RLHC sold a 45 percent ownership stake in 12 wholly-owned hotels wholly to a joint venture and concurrently refinancing all of the company's secured debt. Three of the hotels will be renovated and converted to the recently announced lifestyle, three-star Hotel RL brand....More>>

Newswire
Homewood targets South America with new prototype   22 Jan, 2015

Newswire By: Bruce Serlen

As Hilton Worldwide continues to accelerate its development efforts around the world, it's identifying certain brands to take the lead in specific markets or regions. Focused-service Hampton, for example, has had a lot of success expanding in parts of Western Europe and recently in Eastern Europe....More>>

Newswire
Chinese investors make a power play for hospitality assets   21 Jan, 2015

Newswire By: David Eisen

China's government is easing the restrictions it placed on companies to invest in foreign assets and that means this: global hotels, particularly those in the upper-tier segments, in gateway markets, will more and more have Chinese owners.More>>

Newswire
Blackstone cashing out of Chicago area Marriott   21 Jan, 2015

Blackstone Group is reportedly selling the 184-room Marriott Chicago Southwest in Burr Ridge, Ill., to an investment firm based in Louisville, Ky., about two years after it acquired the distressed asset. The purchase price was not disclosed. More>>

Newswire
DelMonte Hotel Group closes on sale of four Fairfield properties   21 Jan, 2015

The DelMonte Hotel Group has closed on the sale of four of its Fairfield Inn properties. Effective January 21, the hotels will be owned and managed by Vision Hotels. This sale marks the company’s first large-scale strategic divestiture in its history. A sale price was not disclosed.More>>

Newswire
Miami Heat inks deal with group opening first U.S. ME by Meliá    21 Jan, 2015

The NBA's Miami Heat has inked a partnership with private equity management firm CGI Merchant Group through the summer of 2016. CGI acquired a 56-room hotel ajust blocks from the AmericanAirlines Arena, where the Heat plays. The hotel will undergo a $21-million renovation and subsequently as a ME...More>>

Newswire
Luxury makes a stirring comeback   21 Jan, 2015

Newswire By: David Eisen

The appetite for high-end lodging appears to be gushing as developers hunt for projects.More>>

Newswire
Developers turn attention to Midwest   21 Jan, 2015

Newswire By: David Eisen

Hotel buyers and developers are paying attention to the Midwest now.More>>

Newswire
Investment group eyes Sahara hotels in bailout of Sahara chief   20 Jan, 2015

Newswire By: David Eisen

The saga of Sahara Group chief Subrata Roy continues, but may be nearing a resolution. The chairman of Sahara, which has control over such luxury properties as The Plaza in New York, was jailed last last March after the group failed to repay billions of dollars to bondholders. But a deal may now be...More>>

Newswire
AHT shells out $43.5M for Memphis Marriott East   20 Jan, 2015

Ashford Hospitality Trust has signed a definitive agreement to acquire the 232-room Memphis Marriott East hotel for $43.5 million in cash, or $187,500 per key. The acquisition is expected to close within the next 30 days. The property will subsequently be managed by Remington Lodging.More>>

Newswire
PMZ Realty secures $138.5M loan for TPI Hospitality portfolio   20 Jan, 2015

PMZ Realty Capital recently procured a $138.5-million loan for its client, TPI Hospitality. The loan includes financing for 12 hotels in their portfolio focusing on the Minneapolis and Florida markets. The financing included Marriott, Hilton, and IHG franchises in suburban Minneapolis in and a...More>>

Newswire
Deals roundup: Top transactions in UK, Malta   20 Jan, 2015

In the last week alone, four notable deals were signed for hotels in the UK, and two for the intimate island of Malta. Here's what you might have missed on these two evergreen markets.More>>

Newswire
South Korea makes big pitch to boost tourism business   19 Jan, 2015

Newswire By: David Eisen

South Korea is making a big push to induce development in the country with the overall aim to attract more tourism. The South Korean government said it plans to create an environment to coax more than US$23.2 billion in investment to build up the country's tourism industry and corporate...More>>

Newswire
Radisson Blu Hotel in Edinburgh sold in record deal   19 Jan, 2015

The Radisson Blu Hotel on Edinburgh's Royal Mile in Scotland has been sold to German investment firm Deka Immobilien GmbH for an undisclosed sum. The deal for the hotel, which had invited offers of £59 million, is said to be “the largest hotel transaction in Scotland since 2007.”More>>

Newswire
R Hotels secures $55M for hotel development in Dubai   19 Jan, 2015

R Hotels, the hospitality division of Ajman-based R Holding, has secured funds worth Dh204 million ($55.5 million) from the Commercial Bank of Dubai to back the development of its recently announced property in Dubai's Palm Jumeirah. The fund is part of R Hotel’s Dh500 million ($136 million)...More>>

Newswire
Corinthia Group investment arm to acquire Malta's Island Hotels   16 Jan, 2015

Newswire By: David Eisen

Regional consolidation continues. The latest news comes out of Malta, where International Hotel Investments (IHI), the investment arm of the Corinthia Group, has signed a conditional agreement to acquire the assets and operations of Island Hotels Group, which operates two Radisson Blu hotels in...More>>

Newswire
Former Sofitel CEO to lead new luxury hotel company   16 Jan, 2015

Robert Gaymer-Jones, the founder of Blue Horse Hotel Management Company, served as CEO for Sofitel Luxury Hotels in Paris from 2007 to 2014. He led the re-positioning of the brand by downsizing and rebuilding Sofitel into a global luxury chain including the So brand of lifestyle hotels and the...More>>



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