Investment News
Newswire
Red Roof commits to Canada with 40-hotel deal    20 Apr, 2015

Red Roof, having already signed a deal to expand outside U.S. borders into Brazil, now has its sights set on Canada. It reportedly has signed a 20-year deal with developer Glenn Squires to build and brand 40 hotels across Canada, with the support of Pacrim Hospitality Services. The first four...More>>

Newswire
Minor Hotel Group turns to Northern Africa for hotel development   20 Apr, 2015

Minor Hotel Group has announced a partnership with Qatari Diar Real Estate Investment Company to develop two new Anantara resorts in North Africa, to open in 2017. Anantara Tozeur Resort is being developed by Qatari Diar in the southwest of Tunisia. Also under development is Anantara Al Houara...More>>

Newswire
Wobbly resort sector finds steady footing   20 Apr, 2015

Newswire By: David Eisen

With the hotel industry firmly back on its feet and the overall U.S. economy humming, resorts appear back on solid groundMore>>

Newswire
MICE market drives upscale development in secondary cities   20 Apr, 2015

Newswire By: Jena Tesse Fox

Secondary markets have capitalized not only on growing demand from the meetings and incentive market, but on their unique cultural qualities to attract high-end travelers who are accustomed to high-end accommodations—and developers are taking noteMore>>

Newswire
Muted supply growth fuels development engine   20 Apr, 2015

Newswire By: Bruce Serlen

Industry metrics have been so upbeat that the major brand companies are beginning to see renewed interest in developing full-service hotelsMore>>

Newswire
Report: DuPont taking offers for Delaware's Hotel du Pont   17 Apr, 2015

DuPont Co. is reportedly taking bids for the Hotel du Pont and the DuPont Country Club, according to a source and as reported by Delaware's The News Journal. The chemical company owns the 102-year hotel and suburban golf course, located in Wilmington, Del. More>>

Newswire
Supertel closes sale of two Ga. hotels; will sell two more in Va.   17 Apr, 2015

Supertel Hospitality announced that it has closed on the sale of two Savannah Suites hotels in Georgia: the 172-room Savannah Suites, in Augusta, which sold for $3.4 million, and the 120-room Savannah Suites in Chamblee, which sold for $4.4 million. The company applied $4.1 million of the proceeds...More>>

Newswire
Tetrarch Capital buys Clonmel Park hotel in Tipperary, Ireland   17 Apr, 2015

Irish investment group Tetrarch Capital has acquired the the 99-room Clonmel Park Hotel in Tipperary, Ireland, The Irish Times reports. The former Brennan group hotel had been placed into receivership by AIB. The final sale price was not disclosed.More>>

Newswire
Loews launches new luxury brand with San Francisco buy   16 Apr, 2015

Loews Hotels & Resorts is taking its Regency name and using it to launch a new luxury brand. First stop: San Francisco. Loews has now completed the acquisition of the 155-room Mandarin Oriental San Francisco Hotel, which has been renamed the Loews Regency San Francisco. The hotel joins the Loews...More>>

Newswire
JW Marriott Mumbai Sahar opens in India   15 Apr, 2015

The 585-room property houses the brand's new branded spa concept Spa by JW. The Mumbai Sahar location is the first Spa by JW in Asia Pacific and the second worldwide. The JW Marriott brand now has seven hotels in India. Other locations are Bangalore, Chandigarh, Mumbai, New Delhi, Pune and...More>>

Newswire
Amara Hotels expands with new property in Thailand   15 Apr, 2015

Facilities at the Amara Bangkok include a rooftop infinity pool and AkaAza rooftop bar on the 26th floor, a Grand Ballroom and two function rooms. The hotel also offers events and meeting facilities. It's located in the city's central business district.More>>

Newswire
Summit closes on $39M acquisition of Minneapolis Hampton   15 Apr, 2015

Summit Hotel Properties has closed on the $39-million acquisition of a new 211-room Hampton Inn & Suites in downtown Minneapolis from Mortenson Development.The hotel opened on Aptil 13 and reportedly is the first new hotel to open in downtown since 2009.More>>

Newswire
STR report indicates mixed bag for Europe and Middle East hotel pipeline   15 Apr, 2015

Newswire By: Jena Tesse Fox

​STR Global has released its Global Construction Pipeline Report for March, and the EMEA numbers are intriguing: While Europe has more hotels under contract, the Middle East has decidedly more rooms poised to open in the coming year. More>>

Newswire
Hotel planned for former College Football Hall of Fame property    15 Apr, 2015

Local South Bend, Ind., affiliate, WSBT, is reporting that the former College Football Hall of Fame is being sold to to JSK Development, a hotel development and management company, which has plans to convert it into a corporate headquarters with a hotel on the premises. More>>

Newswire
HELP Conference: Thayer's Pillsbury knocks brands, PKF's Woodworth surprised by lack of Airbnb interest   14 Apr, 2015

Newswire By: David Eisen

The first day of the Hotel Equity & Lender Perspectives Conference (HELP) was full of charged opinions from some of the hospitality industry's most outspoken voices. One exec called out brands for diminishing value, while another remains bewildered by the lack of owner curiosity in Airbnb. Find out...More>>

Newswire
Hotel Development Partners acquires seven Marriott hotels   14 Apr, 2015

HDP purchased the select-service hotels from Houston-based Moody National for Atlanta-based Hotel Equities, who will continue to manage all seven hotels through its JV partnership with HDP.More>>

Newswire
Paris' Astor Hotel to join Hilton's Curio   14 Apr, 2015

The hotel, owned by Maranatha Group, will undergo a refurbishment prior to welcoming its first guests under the Curio brand in 2016 and will open under a franchise between Maranatha and Hilton Worldwide.More>>

Newswire
Sacramento Kings, JMA Ventures partner to open Kimpton hotel   14 Apr, 2015

The partnership's 250-room hotel is part of a 16-story mixed-use building near the new downtown arena, and will be part of the San Francisco-based Kimpton Hotels & Restaurants chain. The hotel is expected to open with the new arena in the fall of 2016. Planning for the building started in November.More>>

Newswire
Provenance, NPB Capital purchase fee simple interest in Seattle's Mayflower Park Hotel   13 Apr, 2015

The Mayflower Park Hotel has been operated and managed since 1974 by independent Seattle operators Birney and Marie Dempcy who have a lease on the property that ends in 2025. At that time, Mayflower Hotel Owner will assume control of the hotel, with Provenance Hotels managing day to day operations.More>>

Newswire
Merivale Group purchases the Queen Victoria Hotel in Sydney, Australia   13 Apr, 2015

The Queen Victoria Hotel on Enmore Road near Newtown station is Merivale's first hotel west of the CBD, and will take possession in late April. The company now controls more than 50 bars, hotels and restaurants across Sydney.More>>

Newswire
LuLu Group to buy London's Great Scotland Yard, convert it into hotel   13 Apr, 2015

LuLu Group International is in advanced talks to buy the Grade II listed building, which is being turned into a five-star hotel by developer Galliard Group. If the deal goes ahead, Middle Eastern investors will control both of the Met's former homes, after its current headquarters at New Scotland...More>>

Newswire
Traveloge may sell for more than $1.4 billion   13 Apr, 2015

Newswire By: Jena Tesse Fox

Just three years after the hotel chain’s current owners took control of Travelodge from Dubai International Capital as part of a massive financial restructuring that reduced its debt to $480.6 million from $927 million, the British economy brand may be up for grabs.More>>

Newswire
At HELP Conference, brands rebuke Pillsbury, make their case for relevance   13 Apr, 2015

Newswire By: David Eisen

On the first day of the Hotel Equity & Lender Perspectives Conference (HELP), Thayer Lodging's Lee Pillsbury took brands to task; the day after, it was the brands turn for rebuttal. Here's what they had to say. More>>

Newswire
How BD Hotels owns Manhattan's boutique landscape   10 Apr, 2015

Bloomberg has an inside look at how Ira Drukier and Richard Born have built a boutique hotel empire in New York—and along the way have partnered with such luminaries as Robert De Niro. More>>

Newswire
For sale: Sacramento's Senator Hotel can be yours for the right price   10 Apr, 2015

Downtown Sacramento’s Senator Hotel is up for sale, by auction, reports The Sacramento Bee. The building's owner LNR Property of Miami will reportedly take bids on May 18 and 19 for the 160,000-square-foot building that opened as lodging in the 1920s and was converted to office use in the early...More>>

Newswire
Royal Group buys DoubleTree Kuala Lumpur for $106M   9 Apr, 2015

The hotel was purchased from a private real estate fund managed by BlackRock. With this latest acquisition, the privately held Royal Group will manage a range of properties across Singapore, Malaysia and Australia, comprising residential, industrial, shopping malls, hotels and office towers.More>>

Newswire
Belleview Biltmore in Florida sold for $6.2M   9 Apr, 2015

St. Petersburg developer JMC Communities completed the transaction between its subsidiary Belleview Place Land and Miami-based former owner BB Hotel. The sale price of the hotel is approximately $400,000 less than the preliminary contract price reported last year.More>>

Newswire
Waramaug Hospitality Canada acquires license rights to Travelodge Canada   9 Apr, 2015

Realized under a newly formed joint entity by the name of Superior Lodging Development TL Corporation, the company, which will look to oversee the continued growth of the Travelodge brand in Canada, will be led by Marc Staniloff, CEO of Superior Lodging Corporation, while Michael Rapps, chairman of...More>>

Newswire
Roller coaster Revel sale finally ends with Fla. developer the victor   8 Apr, 2015

Newswire By: David Eisen

Better late than never. According to multiple sources, the Revel Casino Hotel in Atlantic City has, finally, been sold to Florida property developer Glenn Straub for a reported $82 million. The hotel, which opened in 2012, originally cost $2.4 billion to build. In that regard, Straub got a steal of...More>>

Newswire
San Diego DoubleTree sells for $49 million   8 Apr, 2015

The 219-room Doubletree hotel in Mission Valley, Calif., a neighborhood of San Diego, has sold for $49.25 million to Oak Coast Properties, a four-year-old investment firm that invests in retail, residential and hotel properties, UT San Diego. The deal comes on the heels of the sale last week of San...More>>



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