Investment News
Newswire
Venture bets big on full-service with DoubleTree in Orlando buy   28 May, 2015

AWH Partners, a real estate investment, development and management firm, in partnership with Building and Land Technology, a real estate private equity, development and property management firm, made the off-market acquisition of the 1,004-room DoubleTree by Hilton Orlando at Sea World. More>>

Newswire
Starwood entering Myanmar with Sheraton brand   28 May, 2015

Starwood Hotels & Resorts Worldwide is making a big play in Southeast Asia with the announcement of a Sheraton planned for Myanmar. The 375-room Sheraton Yangon Hotel will be owned by Family Business Group Hotel Limited, and pushes the brand’s Asia-Pacific portfolio to 73 hotels and 37 resorts.More>>

Newswire
On location: La Quinta debuts new efficiency-focused prototype   28 May, 2015

Newswire By: Jena Tesse Fox

Taking full advantage of every inch of usable space, La Quinta's new Del Sol prototype, which officially opened in College Station, Texas this week, is designed to maximize both ROI and efficiency. Hotel Management was there for the unveiling and files this report. More>>

Newswire
Hong Kong firm sets up fund targeting Chinese outbound travelers   28 May, 2015

A Hong Kong-based private equity firm is following the money. First Eastern Investment, in partnership with and Gloria Hotels and Resorts, a subsidiary of state-owned food giant Cofco, have set up a fund to raise US$100 million to invest in overseas hotels catering to Chinese touristsMore>>

Newswire
U.S. Q1 hotel transactions reach 320   27 May, 2015

There were 320 reported hotel sales in the first quarter of 2015, according to Lodging Econometrics. This represents an 85-percent increase compared to the 173 hotel transactions with a recorded selling price that occurred in the first quarter of 2014. More>>

Newswire
Sahara enters fray to buy its own hotel   27 May, 2015

This is weird. Reports say that Sahara has entered the fray for buying its own Grosvenor House hotel, which was put on sale by its lender Bank of China after a technical default. The Indian group has been trying to raise funds to secure the release of its CEO Subrata Roy, who has been in jail for...More>>

Newswire
Asia capital changing the face of hotel landscape here and abroad   26 May, 2015

Newswire By: David Eisen

Capital inflows from Asia-based groups, particularly toward the purchase of luxury hotel assets, is altering the face of ownership in the U.S. and cities such as Sydney—and there is no sign of any let up. And while it has started with luxury, the midscale segment is next in their sights. More>>

Newswire
Starboard buys five ibis hotels from Accor   26 May, 2015

Hotel developer and operator Starboard Hotels has purchased five ibis hotels in the UK from HotelInvest parent company Accor, as part of a roughly $35-million portfolio sale of seven properties. The five hotels, in Gatwick, Plymouth, Birmingham Bordesley Circus, Sheffield and Leicester, total 469...More>>

Newswire
Vancouver group acquires Fairmont Vancouver for $180M   26 May, 2015

Vancouver’s Fairmont Hotel has been acquired by West Vancouver-based Larco Enterprises for $180 million. The transaction of the 1939-built hotel pushes Larco’s hotel portfolio to 13 hotels, including eight in Ontario, four in Metro Vancouver and one in Las Vegas.More>>

Newswire
Ulster Bank to sell Irish hotels portfolio   26 May, 2015

Ulster Bank has agreed to the sale of its Project Coney portfolio to Sankaty Advisers, a U.S.-based affiliate of investment group Bain Capital. The portfolio comprises loans relating to 36 hotels and other commercial assets. It is not clear how much Sankaty paid, reports The Irish Times, but the...More>>

Newswire
Holiday Inn Express opens first property in South Korea   26 May, 2015

The 224-room Holiday Inn Express Seoul Euljiro is located in a commercial and financial precinct between the Myeong-dong, Namsan and Dongdaemoon areas, which are known for their variety of shopping options and sites of cultural and artistic significance. More>>

Newswire
Westin Sydney sold for $445.3 million   26 May, 2015

A joint venture between Singaporean developer Far East Land and the Hong Kong-listed Sino Land Co. purchased the 416-room property, which includes a significant amount of retail space. Seller GIC purchased the hotel for $160 million in 2002.More>>

Newswire
As euro dips, hotel investors turn attention on continent   26 May, 2015

Newswire By: David Eisen

Don't look now, but the euro and dollar are close to being equals. And near equal footing means that Europe just got a whole lot more enticing for investors. So what is Bank of America doing buying a portfolio of Spanish hotel loans? Fad or trend? More>>

Newswire
Starboard buys 5-hotel portfolio in England   22 May, 2015

The five hotels, in Gatwick, Marsh Mills Plymouth, Birmingham Bordesley Circus, Sheffield, and Leicester, total 469 bedrooms. They will be operated by Starboard under the ibis franchise for a further 20 years as part of the agreement.More>>

Newswire
Ashford Hospitality acquires nine-hotel portfolio   22 May, 2015

Newswire By: Elliott Mest

Ashford Hospitality closed out the week picking up nine hotels in seven states for $224 million. As part of the transaction, the properties will be managed by Remington Lodging.More>>

Newswire
Oaktree Capital buys remaining interest in London Hilton   22 May, 2015

Property investment and development business Quintain accepted the offer for its 50-percent interest in the 361-room Hilton hotel at Wembley Park for a gross consideration £40m. The hotel opened in July 2012.More>>

Newswire
Mandarin Oriental joint venture buys Madrid's Hotel Ritz   22 May, 2015

Newswire By: Elliott Mest

As part of the deal, Mandarin Oriental and Olayan will each hold 50 percent interest in the joint venture, which is purchasing all of the shares in owning the Hotel Ritz from existing shareholders Belmond Spanish Holdings and Landis Inversiones.More>>

Newswire
Kansas City approves financing for Hyatt convention hotel   22 May, 2015

The vote came one day after a council committee endorsed the outlines of the city's financial partnership with private investors.​ The full council vote keeps the proposal on the fast-track. It is next scheduled to be reviewed by the city's Tax Increment Finance Commission on June 30.More>>

Newswire
TRYP by Wyndham to enter the Philippines   22 May, 2015

Under the terms of the agreement with franchisee Microtel Inns & Suites (Pilipinas) Inc., at least eight TRYP by Wyndham hotels will be developed in the country over 10 years, with the first property expected to open at the Mall of Asia in Pasay City in 2016. More>>

Newswire
​Banyan Investment Group, Investra Investments purchase Albany Hampton   22 May, 2015

The property will undergo a multi-million dollar renovation during the next few months that are reportedly expected to meet or exceed the architectural and design standards specified by Hilton Worldwide. More>>

Newswire
My Place Hotels opens flagship in Aberdeen, South Dakota   22 May, 2015

The new flagship hotel will soon host the brand's training headquarters on the first floor. Upon completion of development, My Place University will be unveiled and offered a resource for My Place Hotel owners and operators from across the nation. More>>

Newswire
First TownePlace Suites under development in Brooklyn   21 May, 2015

The 113-key hotel at 561-567 President St. near Fourth Avenue is part of Marriott's extended-stay brand and is slated for a late 2016 opening. ​The five-story, nearly 52,500-square-foot property will also hold 28 parking spaces. Raymond Chan is the architect of record.More>>

Newswire
Corinthia Group to develop new Malta hotel   21 May, 2015

The development will be a $445-million investment that will create 600 jobs. The project will involve the construction of two buildings that will have fewer rooms than the current hotels on the site, but the rooms will be nearly double the minimum size of the current ones and the hotel will offer...More>>

Newswire
Caribbean-Mexico hotel construction pipeline approaches 30,000 rooms   21 May, 2015

At the end of April, there were 29,846 rooms under contract, a 11.4-percent increase in rooms under contract compared with the same month last year. Overall, the highest number of rooms under contract were in the upscale segment (6,901 rooms) with the next-highest number in the luxury segment with...More>>

Newswire
Moody National in $1.7 Bln, 149-hotel portfolio buy   21 May, 2015

Newswire By: Elliott Mest

The portfolio comprises 14,000 rooms across 32 states. Much of the portfolio consists of Marriott- and Hilton-branded hotels. Moody said the deal is subject to closing conditions, and cautioned that there is not yet assurance of it being finalized on the current terms.More>>

Newswire
Former Ramada in Ohio sold for $2.5M   21 May, 2015

An affiliate of New Zealand-based VR Group purchased the 12-story, 225-room hotel from AAIG of Cincinnati, which was made up of a group of California investors.​ A little more than a year ago, the Queensgate hotel was being marketed for sale with a list price of $3.6 million.More>>

Newswire
The U.K.'s Royal Clifton Hotel sold after 30 years of operation   21 May, 2015

Tim Timmerman sold the hotel to D'Urberville Hotels Ltd. The hotel was valued at $6.2 million, and was operated by the same owner for over 30 years. More>>

Newswire
Cerberus Capital affiliate sells Silverleaf Resorts   21 May, 2015

Orange Lake Holdings purchased Silverleaf, a vacation-ownership company with 13 properties throughout the U.S. with approximately 120,000 timeshare property owners. The transaction closed on May 18, 2015. Cerberus acquired Silverleaf Resorts in May 2011.More>>

Newswire
Strong demand in mature markets, growth in emerging ones, spurs Asia Pacific hotel investment and opportunity   20 May, 2015

Newswire By: David Eisen

Hotel investment and development both within the Asia Pacific region and outside it by opportunistic investment groups are under the microscope during the Asia Pacific Hotel Investment Conference here at the Dusit Thani Bangkok. More>>

Newswire
New Zealand hotel reopens four years after earthquake   20 May, 2015

The newly named BreakFree on Cashel Christchurch has opened its doors following the first stage of a project aimed at rebuilding the 263-room hotel, which was damaged in the 2011 earthquake. The first 179 rooms and dining outlets are now open, with the remaining rooms and other facilities expected...More>>



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