Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7, 2023
RADCO Hotel Division Acquires Aloft Phoenix-Airport Hotel
The RADCO Companies | August 8, 2023
Acquisitions
Paramount Lodging Advisors (PLA) Arranges the Sale of the Doubletree Jersey City
Paramount Lodging Advisors | July 17, 2024
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Doubletree Jersey City. PLA transacted the 198-room asset through a receiver sale. The buyer purchased the property with an assumption of the existing CMBS debt. Sales efforts were led by PLA Principals Bennett Webster and Brent Clemens, and PLA director Sean Banilivy. “Our team remains bullish on the market and we look forward to continued strong positive RevPAR trajectory for New York City and surrounding areas. We were pleased to be able to trade with the debt assumption amidst continued uncertainty in capital markets,” noted Webster. PLA is now also...
Xenia Hotels & Resorts Completes Disposition of Lorien Hotel & Spa
Xenia Hotels & Resorts | July 10, 2024
ORLANDO, Fla., July 10, 2024-- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has completed the disposition of the 107-room Lorien Hotel & Spa in Alexandria, VA, for $30 million, or approximately $280,000 per key. The sale price represents a 21.3x multiple and a 3.1% capitalization rate on Hotel EBITDA and Net Operating Income for the trailing twelve months ended May 31, 2024, respectively. Proceeds will be utilized for general corporate purposes, which may include share repurchases, debt repayment, capital expenditures and acquisitions consistent with the Company's long-term strategy....
Room Mate Hotels Expands Presence Across Spain With Acquisition of Staying Valencia
Room Mate Hotels | July 8, 2024
MADRID--Room Mate Hospitality & Leisure, S.L. (“Room Mate Hotels”), a leading lifestyle hotel brand and lease management company headquartered in Madrid, today announced the acquisition of Staying Valencia, a portfolio of boutique hotels and aparthotels in Valencia. This strategic acquisition marks a significant milestone in Room Mate Hotels’ expansion strategy, bolstered by the support of TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, and Westmont Hospitality (“Westmont”), which together acquired Room Mate Hotels in 2022. Staying Valencia operates a portfolio of 10 boutique properties ...
Blackstone Real Estate Acquires Village Hotels
Blackstone Real Estate | June 28, 2024
LONDON, UK – June 28, 2024 – Blackstone Real Estate (“Blackstone”) announced on June 26th that funds managed by Blackstone have completed the acquisition of Village Hotels, a hotel owner, operator and developer, from affiliates of KSL Capital Partners, a leading investor in travel and leisure businesses. Village Hotels owns and operates 33 well-located assets in large regional cities and suburban areas across the UK. Representing 4,400 hotel keys, it operates as an “all under one roof” leisure destination, offering traditional full-service hotel stays, fitness clubs, food and beverage outlets, and co-working spaces. Thanks to i...
Hyatt Acquires The Me and All Hotels Brand From Lindner Hotels AG to Unlock Growth in New European Markets
Hyatt Hotels Corporation | June 28, 2024
Builds on strategic collaboration with German Lindner Hotel Group, with plans to increase footprint of fast-growing upscale brand me and all hotels as part of Hyatt’s lifestyle portfolio CHICAGO--Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has acquired the me and all hotels brand from Lindner Hotels AG (Lindner) to unlock growth in new European markets and build on Hyatt’s strong momentum in the region. This move builds on the successful strategic collaboration that Hyatt and Lindner entered into in 2022, which significantly increased Hyatt’s brand footprint in Germany and Europe, with the subsequent in...
McKibbon Acquires the Courtyard Atlanta Buford Mall of Georgia
Hunter Hotel Advisors | June 28, 2024
ATLANTA (June 28, 2024) — Hunter Hotel Advisors ("HUNTER") today announced the successful sale of the Courtyard Atlanta Buford Mall of Georgia. An institutional seller sold the property to McKibbon Income Fund I (“McKibbon”) for an undisclosed price on June 27, 2024. David Perrin, senior vice president out of HUNTER’s Atlanta office, facilitated the transaction. “We’re excited to be expanding our footprint in the Atlanta Metro with the purchase of Courtyard Buford,” said Matthew Ram, senior vice president of acquisitions at McKibbon. “It’s been a challenging transaction market over the last few years and we are pleased to ...
Artemis Hotel Group Acquires Homewood Suites by Hilton Atlanta-Galleria/Cumberland in Georgia
Hunter Hotel Advisors | June 26, 2024
ATLANTA (June 26, 2024) — Hunter Hotel Advisors ("HUNTER") today announced the successful sale of the Homewood Suites by Hilton Atlanta-Galleria/Cumberland. Artemis Hotel Group acquired the asset for an undisclosed price on June 24, 2024. HUNTER’s Tim Osborne, senior vice president, and Chase Perry, senior associate, represented the institutional seller. “Artemis Hotel Group is excited to add another wonderful asset in our hometown, serving the upscale extended-stay guest in one of the most vibrant submarkets in Atlanta," said Will Watson, CEO & managing principal of Artemis Hotel Group. Located in the Cumberland submarket of ...
Apple Hospitality REIT Acquires the Embassy Suites by Hilton Madison Downtown in Wisconsin
Apple Hospitality REIT, Inc. | June 24, 2024
RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the opening and acquisition of the 262-room Embassy Suites by Hilton Madison Downtown (the “Hotel”) for approximately $79.5 million, or $303,000 per key. “We are pleased to expand our portfolio with the acquisition of the newly constructed, custom Embassy Suites Madison Downtown and increase our presence within the dynamic and business-friendly Madison market,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “Through our longstanding relationship with one of the industry’s lead...
Old Edwards Hospitality Group Finds New Ownership
Old Edwards Inn and Spa | June 18, 2024
Athens, GA Family, now at the Helm of its Companies and Properties HIGHLANDS, NC (June 18, 2024) — The South’s award-winning collection of hotels and clubs has found new ownership in James and Jessica Whitley of Athens, Georgia. On Friday, June 14, 2024, the sale of Old Edwards Hospitality Group’s assets was completed between long-time owners Art and Angela Williams and the Whitleys. Art and Angela Williams purchased Old Edwards Inn more than 20 years ago after visiting and falling in love with the town of Highlands in their younger years. Over the last two decades, they renovated the original inn and spa, added rooms, restaurants...
Prima Asset Management Acquires Prime Hotel in London, Paddington
Prima Asset Management | June 17, 2024
SINGAPORE, June 17, 2024-- Singapore based private equity real estate firm, Prima Asset Management announces the strategic acquisition of an ultra-rare freehold hotel in one of London's most attractive sub-markets. Focused on developing a robust pipeline of opportunities across the United Kingdom, this strategic move marks Prima's commitment to the market, via their VCC Investment Fund, managed by First Degree Global Asset Management. In partnership with Capilon Group, a specialised London based hotel operator and developer, and financed by OakNorth Bank, the newly acquired hotel is set to undergo an extensive refurbishment,...
APA Group and APA Hotel USA, Inc. Make Landmark Acquisition of Downtown Seattle Hotel
APA Group | June 14, 2024
Vancouver, B.C. – June 14th, 2024 – APA Hotel Co., Ltd. announced today that it completed the acquisition of the Hilton Seattle, Washington State, USA, through APA Hotel USA, Inc., a fully owned subsidiary of APA Hotel Co., Ltd. The property will remain under the management of Stonebridge Hospitality Management and will be rebranded immediately as Coast Seattle Downtown Hotel by APA. Details regarding the terms of the transaction have not been disclosed. "In acquiring this property in Seattle, APA Hotel Co., Ltd, and APA Hotel USA, Inc. take its first monumental step into the vibrant hospitality landscape of the United States,” sta...
Plamondon Hospitality Partners Acquires Holiday Inn Express & Suites Johnstown
Plamondon Hospitality Partners | June 12, 2024
Local Frederick Hotel Management Company Adds the Holiday Inn Express & Suites in Johnstown, Pennsylvania to Their Growing Portfolio Frederick, MD (June 12, 2024) – Plamondon Hospitality Partners, headquartered in Frederick, Maryland, is excited to announce their purchase of the Holiday Inn Express & Suites Johnstown in Johnstown, Pennsylvania. The acquisition of the Holiday Inn Express & Suites marks the beginning of Plamondon’s transition into the region’s market. Peter Plamondon, Jr., Co-President of the Plamondon Hospitality Partners, stated, “We’re thrilled to grow our footprint by bringing our longstanding, fam...
Leonardo Hotels Enters Into Agreement To Acquire The Zien Group From Affiliates of KSL Capital Partners and Garden Capital Group
Leonardo Hotels | June 11, 2024
Acquisition Will Grow Leonardo Hotels' Portfolio to 28 Hotels in the Benelux Region AMSTERDAM, June 11, 2024 -- Leonardo Hotels ("Leonardo") today announced that it has entered into a purchase agreement to acquire the Zien Group ("Zien") and its 12 hotels in the Netherlands from affiliates of KSL Capital Partners, LLC ("KSL"), a leading investor in travel and leisure businesses, as well as its partner, Garden Capital Group, whose shareholders founded the business. Terms were not disclosed. The transaction is scheduled to close in the second quarter of 2024 and is subject to customary closing conditions. The sale marks a success...
Whitestone Companies Acquires the 275-Room Le Meridien Atlanta Perimeter
Whitestone Capital | June 5, 2024
Columbus, OH (June 5, 2024) – Today, Whitestone Capital, a division of Whitestone Companies, purchased the 275 room Le Meridien Atlanta Perimeter from Starwood Capital. This purchase marks Whitestone’s first purchase in the greater Atlanta metropolitan area and tenth hotel purchase in the last twelve months. “Atlanta is a market we have been eyeing for quite some time,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “As with most things, it is about timing. With the Le Meridien, we believe we have found an incredible asset in a great location with considerable upside potential.” The Le Meridien is a unique ...
Virga Capital Partners With Resolute Road Hospitality to Acquire Residence Inn by Marriott Boise West
Virga Capital | June 4, 2024
BOISE, Idaho – (June 4, 2024) Virga Capital, a leading real estate investment and development company headquartered in Bozeman, Montana, today announced the acquisition of Residence Inn by Marriott Boise West. In partnership with Resolute Road Hospitality, this strategic acquisition marks Virga Capital's initial hospitality investment in Boise, signaling intentions to expand the company's presence throughout the Intermountain West. The acquisition comes at a time of significant market growth. Boise was recently recognized as one of the 12 Best Places to Live in the nation, solidifying its position as a dynamic hub for growth and opportun...
Chatham Lodging Trust Acquires Home2 Suites Phoenix Downtown for $43.3 Million
Chatham Lodging Trust | May 31, 2024
WEST PALM BEACH, Fla., May 31, 2024 —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that the company has acquired the recently opened, 148-room Home2 Suites by Hilton Phoenix Downtown for $43.3 million or approximately $293,000 per room. The institutional quality, six-story hotel sits in the heart of Downtown Phoenix and includes the historic Fuller Paint Company Building that houses the hotel’s customized public spaces, including a signature food & beverage outlet. Upon stabilization, ...
Host Hotels & Resorts Enters Into Agreement To Acquire Turtle Bay Resort In Hawaii for $680M
HOST HOTELS & RESORTS | May 29, 2024
BETHESDA, Md., May 29, 2024 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (“Host” or the “Company”), the nation’s largest lodging real estate investment trust, today announced that it entered into an agreement to acquire the fee simple interest in the 450-room Turtle Bay Resort (the “Resort,”) on the North Shore of Oahu, Hawaii, including a 49-acre land parcel entitled for development, (the “Land Parcel”) for approximately $680 million, net of key money. The purchase price allocation is expected to be $630 million for the Resort and $50 million for the Land Parcel, subject to final appraisal. The acquisition price represe...
Waramaug Hospitality Acquires Austin Marriott North in Round Rock, TX
Waramaug Hospitality | May 29, 2024
Miami, FL – May 29, 2024 – Waramaug Hospitality, in a joint venture with Franklin Real Asset Advisors, announced today it acquired the Austin Marriott North, a 295-key full-service hotel located in Round Rock, Texas, with close proximity to downtown Austin. Ferit Ferhangil, Chief Executive Officer of Waramaug, commented, "The Austin Marriott North perfectly aligns with our vision of investing in premium-branded hotels in high-growth markets. This acquisition further solidifies our commitment to delivering exceptional hospitality experiences while maximizing returns for our partners and investors." Further commenting, Marc Weidner, Mana...
Kirkwood Collection Expands Into Santa Ynez Valley With Addition of The Ballard Inn
Kirkwood Collection | May 28, 2024
WEDNESDAY, MAY 28, 2024 – BEVERLY HILLS, CA- Kirkwood Collection, a luxury hotel brand renowned for its portfolio of historic boutique hotels in iconic California destinations, is thrilled to announce the newest addition to its collection: The Ballard Inn. This property marks Kirkwood’s first venture into the Santa Ynez Valley, a picturesque region in the heart of Santa Barbara Wine Country celebrated for its natural beauty, rich history, and world-class wines. The Ballard Inn joins Kirkwood’s existing boutique properties in Santa Barbara, Hideaway Santa Barbara, and Blue Sands Inn, further expanding their presence in the region. The B...
Stonebridge Companies Expands Third-Party Management Platform Through Acquisition of Real Hospitality Group
Stonebridge Companies | May 22, 2024
DENVER, CO, May 22, 2024 —Stonebridge Companies, LLC (“Stonebridge”), a Denver-based innovative, privately-owned hotel management company boasting a diverse range of full-service, select-service, and extended-stay properties, announced today it has acquired Real Hospitality Group, LLC (“RHG),” a leading hotel management company based in Ocean City, Maryland. Real Hospitality Group Founder and CEO Ben Seidel will join the Stonebridge team as Principal and a member of the firm’s Board of Directors. He will contribute his deep experience to help grow and scale the combined company’s presence throughout the country. “From the d...
Image Hotels Acquires Courtyard by Marriott North Charleston Airport/Coliseum
Courtyard by Marriott | May 21, 2024
North Charleston, SC – May 21, 2024 – Image Hotels, a fully integrated hotel development and management company based in Savannah, Georgia and operating through the coastal South since 1978, today announced the acquisition of the Courtyard by Marriott North Charleston Airport/Coliseum in North Charleston, South Carolina. Located at 2415 Mall Drive, the Courtyard by Marriott North Charleston Airport/Coliseum is just minutes from Charleston International Airport and offers guests convenient access to the North Charleston Coliseum and Performing Arts Center, the Charleston Tanger Outlets, the Charleston Area Convention Center, the Sout...
StanCraft-Led Investor Group Acquires Templin’s on the River in Post Falls, Idaho
StanCraft | May 20, 2024
POST FALLS, Idaho--StanCraft, a Hayden, Idaho-based private family of companies, in partnership with an investor group, proudly announce the acquisition of Templin’s on the River in Post Falls, Idaho. Founded in 1986, Templin’s is a 167-room waterfront hotel, bar and marina. With new, supportive ownership, the hotel will be upgraded throughout 2024 and 2025, building on its current features with updated amenities, landscaping, lighting, and guest room enhancements. All food and beverage offerings will also be enhanced and relaunched with a strong guest service culture. “We are excited to bring StanCraft back to Post Falls and ...
Bentley Legacy Holdings and Pendant Capital Acquire The Raphael Hotel, Autograph Collection
Bentley Legacy Holdings | May 14, 2024
Historic Kansas City landmark to undergo guest room refresh and public area enhancements KANSAS CITY, Mo. (May 14, 2024)—Bentley Legacy Holdings (BLH), through its partnership with Pendant Capital, has expanded its portfolio of boutique hotel assets with the acquisition of The Raphael Hotel, Autograph Collection, a distinctive and historic Kansas City landmark blending classic elegance with contemporary sophistication. Bentley Legacy Group (the management arm of BLH) has immediately assumed management of the hotel, with a vision of ensuring its legacy remains during planned updates set to elevate the guest experience. Located just off th...
Ares Real Estate Acquires Hotel Portfolio From Landsec and Operations Under AccorInvest
Ares Management Corporation | May 9, 2024
Income-Generating Hotel Portfolio Concentrated in London and Other Major UK Cities LONDON--Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today that funds managed by Ares Real Estate have acquired a hotel portfolio from Landsec alongside hotel operating partner EQ Group (“EQ”), a leading European hospitality investment and management platform. Prior to the acquisition, the properties were fully let to AccorInvest under long-term leases. In parallel with the closing of the acquisition, Ares entered into an agreement with AccorInvest to surrender these leases and tra...