Finance & Development

/Finance & Development

Finance & Development

Radisson Signs With Bay Invest Company for Radisson Hotel La Baie d’Alger in Algiers

Radisson | July 16, 2019

Brussels/Algiers - July 16, 2019 -- Radisson Hotel Group is proud to announce the signing of the Radisson Hotel La Baie d’Alger in Algiers; its second hotel in Algeria and first Radisson-branded hotel in the country. The new hotel will be a strong addition to the group’s portfolio of almost 100 hotels in operation and under development across 32 countries in Africa. The capital of Algeria, Algiers is the political, economic and cultural center of Africa’s largest country. It is a cosmopolitan city that enjoys a prominent location on a bay along the Mediterranean coastline. Algeria itself continues to show a spike in tourism. Accordin...

Mohr Capital Acquires Hyatt Regency Hotel Ground Lease In Downtown Milwaukee

Mohr Capital | July 16, 2019

MILWAUKEE, July 16, 2019 -- Dallas-based, privately-held real estate investment firm, Mohr Capital, has acquired its first hotel ground lease in downtown Milwaukee at 333 W. Kilbourn Avenue. The Hyatt Regency Hotel that sits on the 99-year ground lease is a 4-star hotel with 481 rooms on 22 floors. The hotel is managed by Interstate Hotels, one of the largest hotel managers in the United States. "We are excited to add this ground lease to our portfolio of high-quality assets across the United States," said Rodrigo Godoi, Director of Acquisitions for Mohr Capital. "We look forward to continuing our strategy of adding leased fee estates to o...

Hotel Equities Tapped to Manage Four Points by Sheraton Charlotte Lake Norman in Huntersville, NC

Hotel Equities | July 16, 2019

Atlanta, GA – July 16, 2019 – Today, Atlanta-based hotel owner, operator and developer, Hotel Equities (HE) announced their appointment as the 3rd party operator for the Four Points by Sheraton Charlotte Lake Norman. The recently purchased 101-room hotel is owned by Lake Norman NIA, LLC, a joint venture between Virginia-based TLTsolutions and North Carolina-based Second Line Investments (in association with The Calhoun Group Realty). The hotel offers over 2,000 square feet of state-of-the-art, flexible meeting space able to accommodate 100+ guests. The Four Points Charlotte Lake Norman is Hotel Equities’ tenth Four Points by Sherat...

Marriott International Enters Agreement With GNV Group to Debut the First W Hotel in Argentina

Marriott International, Inc. | July 16, 2019

JULY 16, 2019 – Marriott International, Inc. (NASDAQ: MAR) has signed an agreement with GNV Group to bring its iconic W Hotels Worldwide brand to Argentina for the first time in dynamic Buenos Aires, underscoring growing demand from developers and consumers alike for W Hotels’ bold design, signature Whatever/Whenever® service and innovative programming.The hotel and residences - expected to open in 2024 - will be located within a $100 million, 34-story, mixed-use tower poised to rise in the heart of the captivating Puerto Madero neighborhood, the ideal location for the brand’s passion for what’s new/next. The expansion into Argentina...

Access Point Financial Appoints New Senior Leadership Team to Accelerate Corporate Growth and Program Expansion

Access Point Financial | July 15, 2019

Recognized leader in hospitality-focused lending announces key appointments, including Dilip Petigara as CEO and Michael Lipson as Chairman of the Board ATLANTA – July 15, 2019 – Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced two key appointments to its senior leadership team, naming Dilip Petigara as Chief Executive Officer and Michael Lipson as Chairman of the Board of Directors. The appointments were made as part of aggressive new corporate growth initiatives put in place to meet the growing demand for financial services in th...

Radisson Signs With MV Werften for New 98-Room Park Inn by Radisson Wismar, in Northern Germany

Park Inn by Radisson | July 11, 2019

Brussels/Wismar - July 11, 2019 -- Radisson Hotel Group is pleased to announce the signing of the new Park Inn by Radisson Wismar, in Northern Germany, with the property set to open in Q3 2019. The historic city of Wismar boasts one of Germany’s best-preserved medieval town centers, while the old city district from the golden age of the Hanseatic League has been a UNESCO World Heritage Site since 2002. Following the lead of the Radisson Blu and Park Inn by Radisson hotels in Lübeck and the Radisson Blu Hotel, Rostock, this new property in Wismar will be the fourth hotel to be operated by the Radisson Hotel Group on the German Baltic coa...

IHG Signs With Maad International for World’s Largest voco Opening in Saudi Arabia

IHG | July 11, 2019

IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, is continuing to expand its footprint across Saudi Arabia with the signing of voco Makkah in partnership with Maad International, among the Kingdom’s largest hospitality real estate development companies. The property will be the largest voco in the world, when operational in early 2020, and it will cater to the growing number of religious tourists in KSA. The 4,200-room hotel will take IHG’s portfolio in the country to over 19,500 rooms, solidifying IHG’s position as one of the largest hospitality players in Saudi Arabia. voco Makkah will occupy a p...

Choice Hotels and Weintraub Real Estate Break Ground on Cambria Hotel Calabasas – Malibu

Cambria® Hotels | July 11, 2019

ROCKVILLE, Md., July 11, 2019 -- Choice Hotels International, Inc. (NYSE: CHH) and Weintraub Real Estate Group announced the official start of construction on the Cambria Hotel Calabasas – Malibu. Expected to open in early 2021, the three-story, 125-room upscale hotel will further the brand's Golden State presence, which includes the Cambria Hotel LAX and will expand to Anaheim, Sonoma, and Napa by year end, with the Cambria LA Spring Street under development. The Cambria Hotel Calabasas – Malibu is being built at 26300 Rondell Rd. along the 101 Freeway, which connects Los Angeles and San Francisco. Once open, the hotel will offer upsc...

Marriott International Enters Agreement With GNV Group to Debut the First W Hotel in Argentina

Marriott International | July 11, 2019

Marriott International, Inc. (NASDAQ: MAR) has signed an agreement with GNV Group to bring its iconic W Hotels Worldwide brand to Argentina for the first time in dynamic Buenos Aires, underscoring growing demand from developers and consumers alike for W Hotels’ bold design, signature Whatever/Whenever® service and innovative programming. The hotel – expected to open in 2024 – and its planned residences will be located within a $100 million, 34-story, mixed-use tower poised to rise in the heart of the captivating Puerto Madero neighborhood, the ideal location for the brand’s passion for what’s new/next. “We are thrilled to be w...

Accor Plans Two New Raffles in Bali and Singapore

Raffles | July 11, 2019

Singapore, July 11, 2019 – Since acquiring the legendary Raffles brand in 2016, Accor has announced plans to almost double the iconic collection, with recent openings including Raffles Maldives Meradhoo and Raffles Shenzhen, as well as upcoming projects including Raffles Udaipur and Raffles Jaipur. The illustrious brand is pleased to announce the addition of two new landmark projects to the pipeline with Raffles Bali set to open in 2020 and Raffles Sentosa Resort & Spa Singapore planned for 2022. With at least four hotels in the development pipeline, the Group will grow the brand by at least 50% in Asia, while planning further flagsh...

Mountain Shore Properties Selects Olympia Hotel Management as Operating Partner

Mountain Shore Properties | July 11, 2019

A Leader in US Hospitality Management Joins Forces with Hyatt’s Developer of the Year July 11, 2019. Portland, ME. Olympia Hotel Management (OHM) has announced a partnership with Mountain Shore Properties (MSP), a Charleston, South Carolina-based developer who was recently named Developer of the Year by Hyatt as part of Hyatt’s annual owner awards. Olympia won Hyatt’s Operating Excellence Award in 2016. MSP, which was recognized for its excellent construction quality, efficiency, and hotel development in strategic locations, has decided to focus exclusively on hotel development and has elected to partner with OHM, a leader in dist...

Radisson Blu Expands Cyprus Portfolio With New Serviced Apartments Signing in Larnaca

Radisson Blu | July 10, 2019

Brussels/Larnaca - July 10, 2019 -- Radisson Hotel Group is delighted to announce the signing of the first branded serviced apartments in Cyprus with the Radisson Blu Serviced Apartments, Larnaca; its third property in the city. The new serviced apartments – signed as part of a Master Development Agreement with Sunnyseeker Hotels and Quality Group – will reinforce the group’s leading position as the largest operator on the island, with four properties and more than 550 rooms in operation or under development. The third-largest island in the Mediterranean, Cyprus is a major year-round destination for tourists and business travelers. ...

Six Senses Signs With RoundShield Partners for Loire Valley Resort Development in the ‘Garden of France’

IHG | July 10, 2019

Just over a 90-minute drive south of Paris is the breathtaking Loire Valley, a UNESCO World Heritage region renowned for historic chateaux, medieval towns, fine wines, great food and unspoiled landscape. At the heart of the region sits the village of Saint-Laurent-Nouan, which will be home to Six Senses Loire Valley. Developed to embrace the environmental and community values that are core to Six Senses, the resort sits within the Les Bordes Estate, a 1,400-acre (560-hectare) site in the Sologne forest, home to Les Bordes Golf Club, one of the most prestigious golf clubs in the world. The development will incorporate equestrian and tennis ...

Curio Collection by Hilton Adds Five New Hotels in Western United States

July 10, 2019

MCLEAN, Va. – July 10, 2019 – Coming off the heels of its five-year milestone as a brand, Curio Collection by Hilton is significantly expanding its presence in the western United States with the addition of five hotels in Washington, New Mexico, California and Utah. This expansion brings Curio Collection’s portfolio to more than half of all U.S. states, providing travelers with one-of-a-kind accommodations in new climates, landscapes and elevations across the country. “For those looking for relaxing desert getaways at the historic Hotel Andaluz Albuquerque or for rigorous adventures while hiking and rock climbing in the surround...

Park City Marriott Becomes Sheraton Park City Following Renovation

Sheraton Hotels & Resorts | July 10, 2019

Park City, Utah – July 10, 2019 – The Park City Marriott is now the Sheraton Park City, effective today. Leveraging the experience and prestige of Marriott International’s most global brand, the hotel will continue to serve as the ideal year-round home base for leisure and business travelers. “2019 marks a new chapter for our hotel. New guest rooms, new meeting spaces, a new restaurant concept and now, a new relationship with Marriott International as we transition to the Sheraton Park City,” said Jason Ford, the hotel’s general manager. “While much is new – one thing remains the same. Our team members will continue to pro...

CAI Investments Celebrates Groundbreaking of Las Vegas’ First Delta Hotels by Marriott

CAI Investments | July 10, 2019

LAS VEGAS, July 10, 2019 -- On Wednesday, June 26, CAI Investments broke ground on the future site of Las Vegas' first Delta Hotels by Marriott, located at 3883 West Flamingo Road. To celebrate the project, Clark County Commissioner Michael Naft, CAI Investments' founder, Christopher Beavor, and executives from Marriott International and Crescent Hotels & Resorts, posed for a ceremonial shovel dig and June 26, 2019 was officially declared "CAI INVESTMENTS – DELTA HOTEL DAY." The high-end, 24-floor hotel will offer tourists and convention guests a full-service, functional experience through approximately 10,000 square feet of meeting ...

Sonnenblick-Eichner Company Arranges $29,000,000 of Construction Financing for Cambria Hotel Calabasas, Calabasas, California

Sonnenblick-Eichner Company | July 10, 2019

Beverly Hills, CA (July 9, 2019) – Sonnenblick-Eichner Company announced today that it has arranged $29,000,000 of construction financing for the Cambria Hotel Calabasas, a 125-room, select-service hotel to be located on Las Virgenes Road, just one block south of U.S. Highway 101/Ventura Freeway in Calabasas, CA. Amenities at the hotel will include meeting space, indoor/outdoor dining and a lobby bar, an outdoor pool, a business and fitness center, and surface parking for approximately 150 cars. The loan provided funding in excess of 65% of total project costs and was provided by an international commercial bank. The hotel’s excelle...

Opening a Hotel? An Asset Manager Can Help!

Saurabh Gupta | July 9, 2019

By Saurabh Gupta Hotel openings are an elaborate affair that seek focused inputs from the ownership at a pre-opening stage. While the hotel management company and operations team are largely responsible for the pre-opening preparation, the owner also has his/her tasks cut out. Here’s a look at the very basic set of expectations from an owner of a managed-hotel at this stage: Approve pre-opening budgets Approve annual business plans along with revenue and expense budgets Approve the recruitment of key personnel like the GM Approve capital expenditure and FF&E spends Objectively assess the readiness of the operations ...

Pacifica Capital to Open Kyoto’s First “Moxy” in Spring 2021

Pacifica Capital K.K. | July 9, 2019

TOKYO-- July 9th, 2019 -- Nijo Hospitality Limited Liability Company, an affiliate of Tokyo-based developer Pacifica Capital K.K., has signed a franchise agreement with Marriott International to open the first “Moxy” lifestyle hotel in Kyoto. Construction of the 158-room “Moxy Kyoto Nijo” starts in July 2019 and the hotel is expected to open in spring 2021. The hotel is just a two-minute walk from Nijo Station, with quick and direct access to Kyoto Station by JR Line as well as links to major tourist sites throughout the city via the Tozai Line of the Kyoto Municipal Subway. Most guestrooms at the property are about 20 square me...

Crescent Hotels & Resorts Adds Mayfair at Coconut Grove to Crescent’s Latitudes Collection

Crescent Hotels & Resorts | July 9, 2019

Miami, FL (July 9, 2019) – The renowned Mayfair Hotel at Coconut Grove will join Crescent Hotels & Resorts “Latitudes” collection of lifestyle resorts. Crescent & Latitudes, based in Fairfax, Virginia is a nationally recognized operator of major hotels and resorts throughout the United States and Canada. With Panoramic Views of Miami's Biscayne Bay, the Mayfair hotel is located in Miami’s most elegant enclave at Coconut Grove surrounded by Biscayne Bay, shopping at Coco Walk and other trendy boutiques, the Vizcaya Museum and Gardens, theaters and parks. The boutique hotel blends architectural and design elements to create a...

Two Sister Bosses to Develop Ambiente, A Landscape Hotel in Sedona, Arizona

Ambiente, a Landscape Hotel | July 9, 2019

SEDONA, Ariz. (July 9, 2019) – Travelers from around the world will have a new reason to visit the soaring, majestic red rocks of Sedona, Ariz. when Ambiente, A Landscape Hotel opens in late 2020 as the first of its kind in North America. Developed, owned and managed by Two Sister Bosses, a Sedona family-owned and -operated company, Ambiente is uniquely designed to blend in with the surrounding geological wonderland and gives guests the opportunity to experience and embrace the natural beauty that surrounds them in what USA Today named among the “Most Beautiful Places in America”. Ambiente is comprised of 40 cubed-shaped, guest At...

Radisson Hotel Group Signs With Block Invest to Bring First Radisson-Branded Hotel to Georgia

Radisson | July 8, 2019

Brussels/Tbilisi - July 8, 2019 - Radisson Hotel Group is proud to announce the signing of the first Radisson-branded hotel in Georgia, further driving the expansion of the group’s upscale brand across Europe, the Middle East & Africa (EMEA). The Radisson Tbilisi City Centre is set to arrive in Georgia’s capital in 2021. Elie Younes, Executive Vice President & Chief Development Officer for Radisson Hotel Group, said:“We are excited to bring a Radisson to Georgia which will complement the three existing properties that we have in the country, including the recently opened Radisson Collection. A warm welcome for our owners, Bl...

Cedar Fair Acquires 236-Key Sawmill Creek Resort Located Within Minutes of Its Flagship Amusement Park Cedar Point

Cedar Fair | July 3, 2019

SANDUSKY, Ohio -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today announced it has acquired Sawmill Creek Resort located in Huron, Ohio. Financial terms of the transaction were not disclosed. Commenting on the acquisition, Cedar Fair President and CEO Richard Zimmermann said, “We are excited about the opportunity to add Sawmill Creek to our growing portfolio of resort properties serving Cedar Point, Cedar Point Shores Waterpark and the Cedar Point Sports Center, which is currently being expanded to include an indoor sports facility. Along with Hotel Breake...

Radisson Hotel Group Opens New Radisson Resort Paracas in Peru

Radisson Hotel Group | July 3, 2019

Minneapolis - July 3, 2019 - Radisson Hotel Group today announced it has recently become the fastest growing global hotel company in Peru with the opening of Radisson Resort Paracas. The newly constructed hotel is located on Peru’s coastline with incredible views of the Pacific Ocean. Radisson Hotel Group is rapidly expanding in Peru with five hotels now in operation and another hotel set to open this summer. Peru will soon feature three of Radisson Hotel Group’s brands; Radisson, Park Inn by Radisson and Radisson RED. Many of the hotel’s are located within the flourishing Lima District, including Radisson Hotel Decapolis Miraflores...

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