Investment News
Newswire
After nine-figure bid, Toronto's Brookfield victorious in Revel auction    1 Oct, 2014

That didn't take long. Atlantic City's Revel hotel closed its doors on September 10, and now, about three weeks later, it has a new owner. Brookfield Asset Management, a Toronto real-estate investment firm, won the bankruptcy auction for the hotel, ponying up $110 million.More>>

Newswire
Lodging Dynamics acquires Illinois Staybridge   1 Oct, 2014

Lodging Dynamics Hospitality Group has made another acquisition through the company’s affiliated equity fund, LD Hotel Group I: a 105-room Staybridge Suites, in Peoria, Ill. The fund is raising up to $60,000,000 to fund additional future acquisitions.More>>

Newswire
Cheap debt fuels hotel investment volumes in Germany   30 Sep, 2014

Newswire By: David Eisen

Few countries in Europe are as hot right now for hotel investment than Germany. That's according to HVS, which recently released a new report: "Germany – The Investor’s Darling?" More>>

Newswire
Houston REIT to purchase HGI near Arboretum in Austin   30 Sep, 2014

Houston-based Moody National REIT is under contract to purchase the Hilton Garden Inn near the Arboretum in Austin for $29.25 million, reports the Austin Business Journal. It also reports that the Travis Central Appraisal District values the 138-room hotel and adjacent land at $13.76 million.More>>

Newswire
Japan's Okura Hotels inks deal to operate Philippines hotel    30 Sep, 2014

Japanese hotel chain Okura Hotels & Resorts has struck a deal with Resorts World Bayshore City Inc. to manage and operate its first hotel in the Philippines, reports GMA New. Travellers International Hotel Group said Hotel Okura Manila will be constructed in Entertainment City in Parañaque. More>>

Newswire
Fortis to explore sale, spin-out of hotels and other assets   30 Sep, 2014

Fortis Inc. has reportedly retained advisors to explore a sale, or spin-out of its hotel and commercial real estate business now operated and controlled by its wholly owned subsidiary Fortis Properties Corp., reports Reuters.More>>

Newswire
Destination Develop seeks hotel investors to take a short survey   30 Sep, 2014

The publishers of the IHIF Hotel Investment News daily newsletter are searching for potential candidates for their new Destination Develop Investor Council, and request your participation in a brief survey. The Council is being created to give qualified investors exclusive access to pre-qualified...More>>

Newswire
Where Las Vegas has won, Atlantic City has failed   29 Sep, 2014

Newswire By: David Eisen

Las Vegas and Atlantic City are thousands of miles apart, and that’s just where the dissimilarities begin. While the former has come up aces, the other is crapping out. The question remains: Why?More>>

Newswire
New $130M hotel on Saipan breaks ground   29 Sep, 2014

Hong Kong-based Honest Profit International has broken ground on a $130-million, 300-room hotel in San Antonio, Saipan, reports the Saipan Tribune. Sam Chan, CEO of Honest Profit, said the hotel’s groundbreaking marks a new era of investment activity on the island, which is reportedly in need of...More>>

Newswire
Jeff Vinik to buy the Tampa Marriott Waterside Hotel and Marina   26 Sep, 2014

Vinik, who owns the Tampa Bay Lightning, plans to purchase the hotel, which sits on the riverfront between the Amalie Arena and the Tampa Convention Center, in a few weeks. In late August, the ownership of the 719-room hotel -- a corporate entity tied to Marriott -- filed with the city to verify...More>>

Newswire
Creggan Court Hotel in Westmeath, Ireland, sold for over $1.25 million   26 Sep, 2014

CBRE Hotels confirmed the sale of the property. The hotel was offered for sale on behalf of Joint Receivers Kieran Wallace and Padraig Monaghan, KPMG. Creggan Court is being purchased by a private Irish-based investor and the hotel is expected to be managed by Great National Asset Management under...More>>

Newswire
Movenpick Hotels & Resorts to open seventh Dubai property in 2017   26 Sep, 2014

Movenpick Hotel Apartments Downtown Dubai will be located 5.5 miles away from Dubai International Airport. The 246 hotel apartments will be developed with varying sizes, ranging between 118 square feet for studio apartments and 341 square feet for two-bedroom apartments. A specialty restaurant and...More>>

Newswire
Los Angeles city council votes to raise hotel worker minimum wage   26 Sep, 2014

Newswire By: Elliott Mest

Earlier this year, hotel employees and lawmakers began the push for higher wages within the industry. One of the largest gains for the movement took place this week as the Los Angeles city council approved a wage increase to 15.37 an hour.More>>

Newswire
UK golf resort transactions make a rousing comeback   25 Sep, 2014

Newswire By: David Eisen

While last year could have been characterized as a double bogey in terms of single-asset golf resort transactions, this year has been a string of birdies. In advance of golf's Ryder Cup, which begins Friday and runs through the weekend at Gleneagles in Scotland, HVS reports that hotel investors'...More>>

Newswire
Hawaii-based Outrigger acquires Konotta Island Resort in Maldives   25 Sep, 2014

Hawaii's Outrigger Enterprises Group has purchased the Konotta Island Resort in the Republic of Maldives for an undisclosed amount. The hotel is expected to open as the Outrigger Konotta Maldives Resort next summer following a renovation. More>>

Newswire
Ottawa Quality Inn changing hands   25 Sep, 2014

The 212-room Quality Inn in Ottawa, at Rideau Street and King Edward Avenue, is set to be sold to an undisclosed buyer who recently made an unsolicited offer on the property, reports the Ottawa Citizen. The sale will reportedly close around December 1. More>>

Newswire
NHL's Lightning owner in line to buy Tampa Marriott Waterside   24 Sep, 2014

Tampa Bay Lightning owner Jeff Vinik appears to be in line to acquire the Tampa Marriott Waterside Hotel and Marina, reports the Tampa Bay Business Journal. No purchase price has been disclosed for the 719-room hotel, which is on the riverfront in downtown Tampa. A deal reportedly could close in...More>>

Newswire
PLA markets sale of 15-hotel Wyndham portfolio   24 Sep, 2014

Paramount Lodging Advisors has announced the sale of a 15-property Wyndham portfolio. PLA was engaged by the court appointed receiver as the exclusive representative for the sale of the portfolio. In 45 days, PLA registered over 400 buyers More>>

Newswire
Outrigger purchases Maldivian resort to reopen in 2015   24 Sep, 2014

Hawaii-based Outrigger Enterprises Group announced today that it has purchased the Konotta Island Resort situated in the Gaafu Dhaalu Atoll of the Republic of Maldives from Crystal Lagoon Pvt Ltd.More>>

Newswire
Carlyle Group acquires two Islamorada resorts   23 Sep, 2014

The Washington, D.C.-based Carlyle Group has purchased two Islamorada hotels from Starwood Capital with plans to spend $18 million on renovations, reports the Miami Herald. Carlyle bought the 151-room Postcard Inn Beach Resort at Holiday Isle and the La Siesta Resort. The purchase price was not...More>>

Newswire
Transcorp to develop luxury Nigeria hotels with IPO proceeds   23 Sep, 2014

Transcorp Hotels will invest the proceeds of a $49-million initial public offering into two new luxury Nigerian hotels as the operator seeks to benefit from a rise in international travel, Bloomberg reports. The company already owns two hotels, including a Hilton in Nigeria’s capital, Abuja. It...More>>

Newswire
U.S. company joins surge to develop hotels in Japan   22 Sep, 2014

Newswire By: Stephanie Ricca

There's more evidence that Japan is the place to be when it comes to hotel investments. Reuters reports that U.S.-based Fortress Investment Group is making hotel development in Japan a priority.More>>

Newswire
Redefine International buys the Doubletree by Hilton Hotel in Edinburgh   22 Sep, 2014

The Hotel has 138 bedrooms which have recently been refurbished. The acquisition also includes the separate heritable title of The Chanter public house, located on the ground and basement floors of the property. The hotel will be let to Redefine Hotel Management, a wholly owned subsidiary of...More>>

Newswire
Starwood begins construction on new Westin hotel in Sarasota, Fla.   22 Sep, 2014

Developed by Kolter Hospitality, The Westin Sarasota will open in the summer of 2016 as part of a new development in Sarasota's arts district, offering 255 rooms and waterfront views. The hotel will be part of a newly constructed two-tower development that will also include 141 residential...More>>

Newswire
The Calgary Marriott Downtown Hotel to get multi-million-dollar renovation   22 Sep, 2014

Scheduled for completion in Spring 2015, the upcoming makeover will include enhancements to the guestrooms, meeting space, lobby, restaurant/bar and concierge lounge. The renovation will dovetail with the property's 40th anniversary.More>>

Newswire
HMC to manage The Ambassador Hotel in Amarillo, Texas   22 Sep, 2014

The 260-guestroom and suite property is located close to downtown Amarillo and is a 15-minute commute from Amarillo International Airport. In addition, $4 million has been allocated for renovations to the hotel as part of this transition.More>>

Newswire
Hyatt selling large portfolio of select-service hotels for half a billion   19 Sep, 2014

Newswire By: David Eisen

Hyatt Hotels is taking a course that many other hotel asset owners are doing: selling select-service hotels, and buying or retaining more upscale real estate. Today we learned that the Chicago-based hotel operator will sell 38 domestic select-service properties to Lone Star Funds, the...More>>

Newswire
Lowe Enterprises follows up San Jose buy with purchase of Charlotte Aloft   19 Sep, 2014

Lowe Enterprises Investors has acquired the Aloft Charlotte Uptown @ the EpiCentre on behalf of an investment client. The 175-room hotelis in the Uptown District of Charlotte, N.C. LEI affiliate, Destination Management has assumed management of the property. More>>

Newswire
Is the Ace brand headed for New Orleans?   19 Sep, 2014

Is the Ace Hotel brand coming to The Big Easy? This from Curbed: It's been one year since the Domain Cos. bought 600 Carondelet St. for $5.5 million and promulgated news of a hotel/retail transformation at the old Max Barnett Furniture Store building. More>>

Newswire
NorthStar, Chatham JV buying $1.1bln worth of Inland American hotels   18 Sep, 2014

Newswire By: David Eisen

Portfolio deals are alive and well, and today comes news of a big one. Inland American Real Estate Trust, which in August announced plans to spin off its lodging subsidiary, has entered into a definitive agreement to sell a portfolio consisting of 52 select-service hotels with 6,976 rooms to a...More>>



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