Investment News
Newswire
Carey Watermark Investors acquires Savannah Staybridge Suites   31 Oct, 2014

CWI's $25.5-million investment includes the $22.8 million purchase price as well as $2.7 million in other acquisition-related costs and planned capital expenditures. The acquisition was financed with $14.9 million of debt. The hotel will continue to be managed by Interstate Hotels & Resorts.More>>

Newswire
Hyatt Regency Dearborn to operate as the Adoba Hotel   31 Oct, 2014

The hotel owes more than $850,000 in Wayne County property taxes, forcing the previous management company that ran the hotel to declare it would shut the property down. That management company, Atmosphere Hospitality Management Services, conceded the hotel to Lodging Host Hotel Corp., which will...More>>

Newswire
Sebi accuses Sahara Group of delaying asset sales   31 Oct, 2014

Newswire By: Elliott Mest

​The Sahara Group, an Indian business conglomerate, has faced a series of complications in clearing itself of debts in recent times. The easiest way the Group's chairman, Subrata Roy, can get out of his creditor's hair is to sell some of his hotels (namely The Plaza and Dream in New York and the...More>>

Newswire
Morgans Hotel Group to build new $125M hotel in Philadelphia   31 Oct, 2014

The company is proposing to build a 300-room hotel, which will be designed by DAS Architects of Philadelphia, and Clemens Construction has been retained to oversee its development. The hotel will operate under Morgans' Hudson brand, and construction is expected to begin next year and be completed...More>>

Newswire
Dallas Cowboys, Omni Hotels partnering on new hotel   30 Oct, 2014

The Dallas Cowboys and Omni Hotels & Resorts are partnering to develop a new hotel at the future site of the Cowboys World Headquarters in Frisco, Texas. The Omni property will reportedly be one of the only full-service upscale hotels in the area, and serve as a cornerstone of a mixed-use...More>>

Newswire
Hotel magnate Scheetz calls off hotel after selling properties to NYU   30 Oct, 2014

Ed Scheetz, who heads Chelsea Hotels, took an offer he couldn't refuse. The Daily News reports that a luxury hotel he had planned for an area in Manhattan known as NoHo, is now a no-go after he sold two buildings to New York University for a reported $157 million.More>>

Newswire
Vacant Saddle Brook, N.J., Crowne Plaza up for sale   30 Oct, 2014

Several companies have expressed interest in buying the Crowne Plaza in Saddle Brook, N.J., along with four other hotels, in the event that a sale with a prospective buyer falls through, reports The Record. The 12-story former Holiday Inn had been vacant for years, is part of a portfolio that...More>>

Newswire
Carey Watermark buys the Sanderling Resort in North Carolina   29 Oct, 2014

The 106-room hotel was purchased for $38 million. The hotel is approved to add an additional 24 guestrooms to the existing site. CWI plans to begin this project in late 2014 and to deliver the 24 additional guestrooms in time for the 2015 peak spring and summer seasons. More>>

Newswire
The Radisson Paper Valley Hotel goes up for sale   29 Oct, 2014

The starting bid for the 388-room, full-service hotel in Appleton, Wis., is $7.5 million. The auction starts Dec. 1 and ends Dec. 3. The hotel is owned by a group of investors that once held the mortgage for the property. The property was built in 1982, and has nearly 38,000 square feet of meeting...More>>

Newswire
Marriott's Q3 2014 results show development pipeline 1,300 properties deep   29 Oct, 2014

Newswire By: Elliott Mest

Marriott International released its third quarter results for 2014, reporting a net income of $192 million, a 20 percent increase over Q3 2013. Diluted earnings per share (EPS) totaled $0.65, a further 25 percent increase from the same period last year and above the EPS forecasted by the company...More>>

Newswire
Marriott International plans for 70 hotels in India   29 Oct, 2014

Newswire By: Meagan Drillinger

Marriott International, which primarily follows the management contract model, has seven operating brands in India representing luxury to upper mid scale category.More>>

Newswire
Toronto's Royal York Hotel sold for $186M   28 Oct, 2014

KingSett, an investment fund, will own 60 percent of the hotel. Real estate company InnVest, which owns 110 hotels with 14,000 rooms in Canada, will cover the remaining 20 percent. The hotel's current operator, Fairmont, will continue to run the hotel.More>>

Newswire
New York's Gramercy Park Hotel considered for sale   28 Oct, 2014

Real estate investors Aby Rosen and Michael Fuchs hired brokerage firm Eastdil Secured to market the 186-room hotel. Rosen and Fuchs developed the property in the mid-2000s with boutique hotelier Ian Schrager before the recession brought it into default. The pair are also considering a refinancing...More>>

Newswire
Hard Rock to open Dubai hotel in 2015   28 Oct, 2014

The property will be the first Hard Rock-branded hotel in the Middle East, with a second hotel, which was first signed in 2012, expected to open in Abu Dhabi in 2017. The hotel property was previously intended to be operated by Hampshire Hotels Management in association with Wyndham Hotel Group,...More>>

Newswire
Aries Capital closes $10.5M loan for Texas Marriott   27 Oct, 2014

At the onset of the development project, Pride Management secured a construction loan through a bank, which was due to transition into an SBA with a 20-year term and 20-year amortization. The SBA would have also been a full-recourse loan with stiff prepayment penalties. In order to avoid the SBA...More>>

Newswire
Dusit signs first Dusit Thani hotel in Vietnam   27 Oct, 2014

The hotel is part of the Cam Ranh Flowers Resort. Slated to open late 2016, the beachfront hotel and branded residences will house 266 rooms of deluxe, suite and bungalow categories, with a further 117 apartments and 56 residential villas available for purchase or rental.More>>

Newswire
Disney World's Swan and Dolphin Hotel receives $125M update   27 Oct, 2014

The redesign project will transform each of its 2,267 rooms, and is already underway. The hotel's public spaces, restaurants, meeting rooms, shops, pools and recreational areas will not be impacted and will remain fully operational throughout the renovation. Interior design and architecture firm...More>>

Newswire
Mid-East RevPAR climbs for Carlson Rezidor in Q3 2014   27 Oct, 2014

Newswire By: Elliott Mest

The operator's RevPAR was up 9.5 percent year-over-year in the region, reaching $79.61. This growth is attributed to similar gains in occupancy, which is also up 9.5 percent, and room rates that have stabilized (up 0.1 percent).More>>

Newswire
Hines seeks $380M to revamp storied Venice hotels    24 Oct, 2014

Bloomberg reports that U.S. investor Hines is looking to raise 300 million euros ($380 million) to renovate two Venice hotels: the Hotel Excelsior and Grand Hotel Des Bains on Venice Lido. Hines Italia SGR is a venture between the Houston-based company and Italian investor Manfredi Catella. More>>

Newswire
Nashville Magnuson hotel sells for $4.8M, to rebrand as Quality Inn   24 Oct, 2014

A Nashville hotelier has paid $4.8 million for the 172-room Magnuson Hotel Downtown North Nashville, with plans to rebrand it as the Quality Inn Downtown Nashville. The buyer, Sam Zaveri, plans to spend an additional $2 million on renovations, including upgrades to the rooms, lobby, ballrooms and...More>>

Newswire
Shangri-La signs MOU for its first hotel in Phnom Penh, Cambodia   24 Oct, 2014

Shangri-La International Hotel Management and Oxley Gem Cambodia have signed a memorandum of understanding in relation to the management and operation of the first Shangri-La hotel in Phnom Penh, Cambodia. Oxley Gem is a partnership between by Singapore-based Oxley Holdings Limited and the...More>>

Newswire
Liberty SBF provides $7MM CMBS financing for Chicago-area HGI   23 Oct, 2014

According to RE Journals, Liberty SBF recently provided a $7-million CMBS loan for an hotel sponsor to acquire a Hilton Garden Inn hotel near Chicago. Liberty SBF, which specializes in CMBS lending, worked directly with the sponsor to capitalize on an opportunity with a short window and closed in...More>>

Newswire
Alexandria, La., hotel to be sold, converted to a Holiday Inn   23 Oct, 2014

The Alexander Fulton Hotel in Alexandria, La., will be converted to a Holiday Inn after it is reportedly sold to the Southern Hospitality Group. Officials say The Fulton, which has been owned by the city, will undergo a renovation and allow the city out of the hotel business, which, according to...More>>

Newswire
Red Lion jumps into lifestyle segment with Hotel RL   22 Oct, 2014

Another hotel operator has crossed into the lifestyle segment. Red Lion Hotels Corporation has launched what it calls a new upscale hotel conversion brand targeted for the top 80 U.S. urban markets. Hotel RL is a full-service, lifestyle brand "inspired by the spirit of the Pacific Northwest and...More>>

Newswire
Boomerang Hotels opens new GuestHouse in Missouri   22 Oct, 2014

Boomerang Hotels has opened the 53-room GuestHouse Inn St. Joseph, in Missouri. The property, a conersions, is the fourth GuestHouse International hotel to open in the state. It is owned and operated by Asha Hospitality, Inc. More>>

Newswire
Cincinnati Courtyard sells for more than $20 million   22 Oct, 2014

An affiliate of Dallas-based Aimbridge Hospitality and New York City-based BlueMountain Capital Management have purchased the Courtyard Cincinnati Covington hotel for more than $21.7 million. Earlier this year, the JV purchased three other Marriott-branded hotels in Greater Cincinnati as part of...More>>

Newswire
Jumeirah to open three hotels in China   22 Oct, 2014

First up, the Jumeirah Haikou Resort will open in an exclusive golf community on a private island in Hainan. Folloiwng that will be the Jumeirah Wuhan and finally the Jumeirah Nanjing.More>>

Newswire
Pan Pacific to open fifth hotel in China   22 Oct, 2014

This will be the fifth Pan Pacific in China. Part of a mixed-use development, The Esplanade, Pan Pacific Tianjin sits on the Haihe River. It is a 40-minute drive from Tianjin Binhai International Airport and 10 minutes away from Tianjin Railway Station. More>>

Newswire
IHG to triple presence in India   22 Oct, 2014

According to Bloomberg, IHG plans to add 46 new hotels over three to five years in India. "The chain is among operators including Wyndham Hotel Group and STarwood Hotels & Resorts Worldwide Inc. looking to tap the $1.9 trillion economy, even as an oversupply of rooms has depressed room rates for...More>>

Newswire
StayWell Hospitality boosts India portfolio   22 Oct, 2014

StayWell Hospitality Group is making a major push in India with the announcement of 18 hotels expected by 2017. The hotels, according to the Economic Times, will target mid and up-scale segments as part of expansion plans entailing an investment of around $20 million.More>>



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