The Royal Palms Resort and Spa in Phoenix is part of Destination Hotels & Resorts. Newswire
Wobbly resort sector finds steady footing   20 Apr, 2015

With the hotel industry firmly back on its feet and the overall U.S. economy humming, resorts appear back on solid groundMore>>

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Tetrarch Capital buys Clonmel Park hotel in Tipperary, Ireland   17 Apr, 2015

Irish investment group Tetrarch Capital has acquired the the 99-room Clonmel Park Hotel in Tipperary, Ireland, The Irish Times reports. The former Brennan group hotel had been placed into receivership by AIB. The final sale price was not disclosed.More>>

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Supertel closes sale of two Ga. hotels; will sell two more in Va.   17 Apr, 2015

Supertel Hospitality announced that it has closed on the sale of two Savannah Suites hotels in Georgia: the 172-room Savannah Suites, in Augusta, which sold for $3.4 million, and the 120-room Savannah Suites in Chamblee, which sold for $4.4 million. The company applied $4.1 million of the proceeds...More>>

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Hotel planned for former College Football Hall of Fame property    15 Apr, 2015

Local South Bend, Ind., affiliate, WSBT, is reporting that the former College Football Hall of Fame is being sold to to JSK Development, a hotel development and management company, which has plans to convert it into a corporate headquarters with a hotel on the premises. More>>

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Summit closes on $39M acquisition of Minneapolis Hampton   15 Apr, 2015

Summit Hotel Properties has closed on the $39-million acquisition of a new 211-room Hampton Inn & Suites in downtown Minneapolis from Mortenson Development.The hotel opened on Aptil 13 and reportedly is the first new hotel to open in downtown since 2009.More>>

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Traveloge may sell for more than $1.4 billion   13 Apr, 2015

Just three years after the hotel chain’s current owners took control of Travelodge from Dubai International Capital as part of a massive financial restructuring that reduced its debt to $480.6 million from $927 million, the British economy brand may be up for grabs.More>>

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San Diego DoubleTree sells for $49 million   8 Apr, 2015

The 219-room Doubletree hotel in Mission Valley, Calif., a neighborhood of San Diego, has sold for $49.25 million to Oak Coast Properties, a four-year-old investment firm that invests in retail, residential and hotel properties, UT San Diego. The deal comes on the heels of the sale last week of San...More>>

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Roller coaster Revel sale finally ends with Fla. developer the victor   8 Apr, 2015

Better late than never. According to multiple sources, the Revel Casino Hotel in Atlantic City has, finally, been sold to Florida property developer Glenn Straub for a reported $82 million. The hotel, which opened in 2012, originally cost $2.4 billion to build. In that regard, Straub got a steal of...More>>

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Excel Group snaps up Florida select-service portfolio   1 Apr, 2015

Washington, D.C.-based private-equity firm Excel Group has acquired three select-service hotels in Florida for a total consideration of $35 million: the 128-room Hyatt Place Lake Mary; the 83-room Hilton Garden Inn Oldsmar – Tampa/North; and the 110-room Hampton Inn and Suites Oldsmar –...More>>

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Blackstone to pony up $1.2bln for three Paulson-consortium hotels as group raises record $14.5bln in four months   31 Mar, 2015

Blackstone Group is at it again. The investment group is reportedly shelling out more than $1.2 billion to a consortium led by Paulson & Co. for three hotels: The Ritz-Carlton Orlando and two J.W. Marriotts in Orlando and Scottsdale, Ariz. The hotels combined have more than 2,500 rooms. More>>

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