Investment News
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>>

Newswire
Starwood sells The St. Regis, Rome, continues asset-light focus   21 Oct, 2014

Newswire By: David Eisen

One of Rome's most luxurious hotels is now under new ownership. Starwood Hotels & Resorts Worldwide has sold The St. Regis, Rome to subsidiaries of Constellation Hotels Holding Limited for €110 million or approximately $150.7 million.More>>

Newswire
Rhode Island group sells two select-service Manhattan hotels   21 Oct, 2014

Rhode Island-based hotel investment and management firm Magna Hospitality Group has sold two Midtown hotels for a total of $135.2 million, according to property records filed with the city, and as reported by Real Deal. The hotels are the Holiday Inn Express Herald Square and the Hampton Inn United...More>>

Newswire
Goldman Sachs to buy loan on Belfast's Merchant Hotel   21 Oct, 2014

Goldman Sachs is making a substantial investment in Northern Ireland with a deal to buy loans on Belfast's Merchant Hotel and other assets from Ulster Bank, reports The Telegraph. The investment bank is the preferred bidder to buy loans relating to the Cathedral Quarter hotel and four others after...More>>

Newswire
Openings   20 Oct, 2014

Newswire By: HM Editorial Staff

A look at the new hotel openings around the globeMore>>

Newswire
Red Roof Inn's CDO on the economy brand's expansion plans   20 Oct, 2014

Newswire By: Stephanie Ricca

Red Roof Inn’s CDO Phil Hugh details development plans for the economy brand, how to take the chain to the next level, its new design prototypes and his view on the segment as a wholeMore>>

Newswire
The Motor City starts to rev it up   20 Oct, 2014

Newswire By: HM Editorial Staff

Detroit showing signs of hotel revivalMore>>

Newswire
Alpha Bank plans to sell Athens Hilton   20 Oct, 2014

Alpha Bank reportedly will soon announce the agreement for the sale of Athens’ Hilton Hotel in Greece, which is currently the property of Ionian Hotel Enterprises, an Alpha Bank subsidiary. The interested buyers are reportedly Oaktree Capital Group and Jermyn Street Real Estate Fund.More>>

Newswire
Tune Hotels unveils big expansion plans   20 Oct, 2014

Tune Hotels has unveiled plans to open up to 25 new properties by 2020, amounting to a further £200 million in the UK. The announcement comes as the select-service hotel group opens its sixth UK property in Newcastle this week. More>>

Newswire
Dubai's Atlantis signs increased $1.1bln loan deal    17 Oct, 2014

Dubai's Atlantis resort has refinanced an $880-million loan to take advantage of favorable market conditions and secure a better interest rate, the company told Reuters and as reported by Arabia Business. The loan was also increased in size to $1.1 billion.More>>

Newswire
Urban and dual-branded projects keep extended-stay going strong   17 Oct, 2014

Newswire By: Bruce Serlen

A look at analyst forecast of healthy momentum for extended-stay category heading into 2015.More>>

Newswire
Value Place in Gaston, N.C., sold for $3.5M   16 Oct, 2014

Built in 2008, the 44,000-square foot building has 124 rooms. The former owner, New River Gastonia, sold the 3.3-acre property to DC Hospitality Gastonia, a company based in Brook Bound, NJ. The hotel is planned to remain a Value Place property.More>>

Newswire
Dalata Hotel Group buys two Ireland hotels for $40.41M   16 Oct, 2014

Dalata managed the two hotels since 2009. They were put on the market in August as part of Ulster Bank's Project Nadal. The sale is expected to close over the next four weeks. Last year the two hotels reported earnings before interest, tax, depreciation and rent of $3.19 million. More>>

Newswire
Chinese investor buys Paris Marriott for $439M   16 Oct, 2014

Newswire By: Elliott Mest

Four months ago, Hong-Kong based Kai Yuan Holdings expressed interest in buying the Paris Marriott Hotel Champs-Elysees for an estimated $468 million. Today that deal has officially closed.More>>

Newswire
Marriott resort in Hawaii to rebrand as Four Seasons hotel-condominium   16 Oct, 2014

The JW Marriott Ihilani Resort & Spa at Ko Olina in Hawaii is set to close early next year to undergo a renovation and then reopen under the Four Seasons brand. The hotel was built two decades ago and will lose the Marriott flag after its management agreement ends on Dec. 31. The Resort Group is...More>>

Newswire
International hotel brands invest in Turkey   15 Oct, 2014

Turkey's hotel scene keeps growing, with international developers looking to build and develop in cities throughout the country. More>>

Newswire
Hawaii's Kahala Hotel sells for $282 million   15 Oct, 2014

The Kahala Hotel & Resort in East Oahu has been sold to Japan-based Resorttrust Inc. in a leasehold sale for $282.5 million. Landmark Hotels, the resort’s operator, will remain in place.More>>

Newswire
Damac signs deal to expand Paramount Hotels   15 Oct, 2014

Damac Properties has signed an exclusive deal with Paramount Hotels & Resorts to expand its branded hotels and serviced living concepts to new cities around the region, reports Construction Weekly Online. The hotels & serviced residences will be launched over the next five years across Dubai, Abu...More>>

Newswire
Shiva Hotels acquires London’s Kingsway Hall Hotel for hefty sum   15 Oct, 2014

Shiva Hotels has purchased The Kingsway Hall Hotel, a landmark property in London’s Covent Garden, for £96 million, reports Hotel Owner. Another £15 million reportedly will go toward an extensive renovation.More>>



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