Investment News
Newswire
Buyers upbeat about European markets   15 Sep, 2014

Newswire By: David Eisen

A confluence of investor confidence, improved operating fundamentals and easier access to debt has made for a percolating hotel transactions market in Europe.More>>

Newswire
New York's Chinatown experiencing hotel building boom   15 Sep, 2014

The neighborhood is seeing growth that would have been unfathomable after 9/11. A host of factors have contributed to this development, including the neighborhood's proximity to popular tourist attractions and the dearth of rooms available in the five boroughs for New York's 55 million annual...More>>

Newswire
Malmaison to convert the original Scotland Yard headquarters into a hotel   15 Sep, 2014

The hotel will be called the Great Scotland Yard, with Mailmaison paying an estimated $324 million. Galliard Homes, the London-based development group which owns the site, expects to complete the conversion in 2016. Plans for the seven-floor building include 235 bedrooms, a VIP suite, a vast...More>>

Newswire
Blackstone Group acquires the Westin Tampa Harbour Island for $46.5M   15 Sep, 2014

Clearwater-based Wilder Corp. sold the 299-room hotel and nearby retail complex Knights Point to Blackstone in a deal that closed Sept. 2. Knights Point will be spun off to Tampa developer Convergent Capital Partners. Convergent will work together with Blackstone to renovate the hotel and retail...More>>

Newswire
Hotel Viking in Newport, R.I., bought for $77M   15 Sep, 2014

Dallas-based LSREF3 Viking Tenant bought the 1926 hotel from a subsidiary of LaSalle Hotel Properties of Bethesda, Md. Hotel Viking is listed on the National Register of Historic Places and is a member of the Historic Hotels of America, a program of the National Trust for Historic Preservation. The...More>>

Newswire
How to properly negotiate replacement reserve clauses   15 Sep, 2014

Newswire By: Jeff Wilder

It is natural for borrowers to focus their mortgage negotiation attention on the interest rate being charged for borrowed funds, the amortization schedule being used and the length of the loan; after all, each is an important factor defining debt cost and, as a result, impacting the hotel’s...More>>

Newswire
Hotel developers, brands take a shine to Latin America    12 Sep, 2014

Newswire By: David Eisen

Latin America, and particularly Central America, is quickly becoming the next hotbed of hotel growth—as hotel companies and developers look to flood the region with name brands. Here's a look at what some companies are doing. More>>

Newswire
Four Wichita hotels sold to Starwood Capital in multistate deal   12 Sep, 2014

Starwood Capital Group has reportedly purchased four Wichita, Kan., hotel properties as part of a more than $50 million multi-state deal that included both Marriott and Hilton brands. More>>

Newswire
Broward County Hampton sells for 73-percent premium   12 Sep, 2014

The Hampton Inn in Plantation, Fla., was reportedly sold for $13 million, a 73-percent premium to its prior deal. Prince-Bush Investments-Plantation sold the hotel to Midas Plantation, an affiliate of St. Louis-based Midas Hospitality. This is Midas Hospitality’s first hotel in Florida.More>>

Newswire
Florida developer makes $90M cash bid for AC's Revel   11 Sep, 2014

Newswire By: David Eisen

That didn't take long. According to multiple outlets, only days since the Revel hotel in Atlantic City was shuttered, a Florida developer has stepped forward with a cash bid for the property. Here's how much and if it will go through.More>>

Newswire
Radisson Blu in Edinburgh hits the market for £59 million   11 Sep, 2014

The owners of the 238-room Radisson Blu Hotel on the Royal Mile, in Edinburgh, Scotland, are asking of £59 million for the property. Word is The Park Inn by Radisson in Manchester and The Quay Leisure Park in Glasgow have also both been put up for sale.More>>

Newswire
Lowe Enterprises buys Hotel De Anza in downtown San Jose   11 Sep, 2014

Lowe Enterprises Investors has acquired the 100-room Hotel De Anza in San Jose, Calif., for an undisclosed price, but one that a source told the Silicon Valley Business Journal was possibly in the range of of around $22 million or $220,000 per key. More>>

Newswire
Paramount Lodging Advisors recognized as fast-growing company   11 Sep, 2014

Paramount Lodging Advisors has been recognized as one of the fastest-growing private U.S. companies, according to the annual Inc. 500/5000 list. PLA ranked No. 188 out of 5000 companies. In order to rank in the top 500, companies had to achieve a minimum of 918.59 percent in sales growth over the...More>>

Newswire
Kimpton breaking ground on Milwaukee property   11 Sep, 2014

Kimpton Hotels & Restaurants will break ground on a project in Milwaukee's Historic Third Ward by the end of the year, with a planned opening in 2016, reports The Milwaukee Journal Sentinel. Plans for the nine-story, 158-room hotel were first announced in February 2013.More>>

Newswire
Here's the latest on the prospective sale of Sahara Group's hotels   10 Sep, 2014

Newswire By: David Eisen

The drama surrounding the sale of three Sahara Group hotels—The Plaza and Dream in New York and the Grosvenor House in London—continues. As the industry follows the daily reports of the group's chairman, Subrata Roy, to sell the hotels from his jail cell (he's there because he owes a ton of...More>>

Newswire
LaSalle sells Newport, R.I., indy hotel for $77M   10 Sep, 2014

LaSalle Hotel Properties has entered into a definitive contract to sell the Hotel Viking in Newport, R.I., for $77 million. The company expects the transaction to close this week. LaSalle acquired the hotel in 1999 for $27 million. The buyer was not initially disclosed. More>>

Newswire
REIT Summit buys Houston Hilton Garden Inn   10 Sep, 2014

Summit Hotel Properties has acquired the Hilton Garden Inn located in the Energy Corridor of Houston. The acquisition marks the second Hilton Garden Inn owned by Summit in the Houston area. Concurrently, Summit announced it sold the Hampton Inn, in Fort Smith, Ark. More>>

Newswire
As travelers spend, hotel industry builds   9 Sep, 2014

Newswire By: David Eisen

When travelers are traveling, spending money at and on hotels, it gives hotel developers the impetus to build more hotels, in the hope that the good times never end. Here's what Marriott says it's planning for the coming years. More>>

Newswire
GledenInvest completes acquisition of Prague's Augustine Hotel   9 Sep, 2014

GledenInvest has completed the acquisition of the Augustine Hotel in Prague. Terms of the transaction were not disclosed. The hotel will reportedly undergo an imminent rebranding and be operated by an international hotel operator. The hotel currently has 101 rooms.More>>

Newswire
Des Moines approves $49M hotel-apartment project   9 Sep, 2014

The Des Moines City Council gave the greenlight Monday for a $49-million project that will replace an entire city block with a new hotel, apartments and a parking garage in the East Village section, reports The Des Moines Register. It includes a a 137-room hotel. More>>

Newswire
Loews partnering again with Universal Orlando on new hotel   9 Sep, 2014

Loews Hotels & Resorts and Universal Orlando Resort have announced Loews Sapphire Falls Resort at Universal Orlando, opening in the summer of 2016. The hotel will be the the fifth hotel in partnership with Loews Hotels & Resorts and Universal Orlando, and will have 1,000 guestrooms. More>>

Newswire
Australia's Woolworths sells $603M hotel portfolio   8 Sep, 2014

Charter Hall Group will lead a consortium in the purchase of a $603-million portfolio of properties from Woolworths subsidiary ALH Holdings, several outlets are reporting. Charter Hall will partner with superannuation fund Hostplus in the venture, which will see the portfolio leased back to ALH...More>>

Newswire
AJ Capital introducing new "college" brand to Charlottesville, Va.   8 Sep, 2014

Chicago-based investment company AJ Capital Partners is moving to convert a Red Roof Inn in Charlottesville, Va., into one of the first in its new hotel collection, Graduate Hotels. Local media outlet The Cavalier Daily reports that the company obtained the property for about $20.4 million dollars...More>>

Newswire
Deemed the dirtiest in New York, Hotel Carter has a new owner   5 Sep, 2014

Newswire By: David Eisen

It's been called the "dirtiest hotel in New York City," but it still commanded a pretty price tag to acquire. According to multiple outlets, New York real estate mogul Joseph Chetrit has acquired the Hotel Carter in Times Square for $190 million. More>>

Newswire
Chesapeake buys JW Marriott in San Fran's Union Square for $147M   5 Sep, 2014

Chesapeake Lodging Trust has entered into an agreement to acquire the 337-room JW Marriott San Francisco Union Square for a purchase price of $147.2 million, or approximately $437,000 per key. More>>

Newswire
DiamondRock acquires Key West resort for $47M   5 Sep, 2014

DiamondRock Hospitality recently acquired the 106-room Inn at Key West in Key West, Fla., for a contractual purchase price of $47.5 million, or $448,000 per room. The purchase price represents a 12.1 multiple on forecasted 2014 hotel EBITDA of $3.9 million and a 7.6-percent capitalization rate. More>>

Newswire
Rocco Forte sells Lowry Hotel to Westmount for £40M   5 Sep, 2014

The Lowry Hotel in Manchester, UK has been acquired by Westmount Hospitality Group and another investor for £40 million, £10 million less than seller Rocco Forte Hotels put it on the market for back in 2007. More>>

Newswire
Behind the battle lines of Morgans and Amanresorts    4 Sep, 2014

Newswire By: David Eisen

Their hotels are popular the world over, but behind the scenes there is and continues to be turmoil for Morgans Hotel Group and Amanresorts. Here is the latest. More>>

Newswire
CSM Lodging partners with Garrison Investment; sells 10 hotels   4 Sep, 2014

CSM Lodging has announced a partnership with Garrison Investment Group for the sale of 10 hotels, a decision in CSM’s development strategy that further positions the company for future growth.More>>

Newswire
Hunter sells two S.C. hotels on behalf of Stabilis Capital    4 Sep, 2014

Hunter Hotel Advisors represented the New York City-based investment firm Stabilis Capital Management in the $10.3 million sale of two South Carolina hotels: the 85-room Country Inn and Suites, in Summerville, S.C., and the 81-room Country Inn and Suites, in Orangeburg, S.C.More>>



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