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
Dauntless Capital Partners Purchases Hilton Garden Inn Bethesda Downtown
Dauntless Capital Partners | June 27, 2023
HOUSTON, TX (June 27, 2023) – Dauntless Capital Partners has purchased the 216-key Hilton Garden Inn Bethesda Downtown, it was announced today. The deal closed on June 8, 2023 in a purchase from Bethesda Hotel Associates, LLC, an affiliate of The Donohoe Companies, Inc. “We are incredibly excited about the acquisition of the Hilton Garden Inn Bethesda, which we believe is a premier sub market within Washington, D.C. This investment, which is the final acquisition of Dauntless Capital Partners Fund I, L.P., builds upon the portfolio that we’ve constructed of high-quality select-service and extended stay assets,” notes Jordan Benudiz...
Hotel Equities Promotes Dan Block to SVP of Operations
Hotel Equities (HE) | June 27, 2023
ATLANTA – June 27, 2023 – Hotel owner, operator and developer Hotel Equities (“HE”) is delighted to announce the promotion of Dan Block to Senior Vice President of Operations. In this expanded role, Block will oversee a diverse, multi-branded portfolio of hotels across the United States, driving operational excellence and ensuring outstanding guest experiences. Block will report directly to HE’s President of Hotel Operations, Al Smith. Joining HE in March 2022 through the Greenwood Hospitality partnership, Block held the position of Vice President of Operations, overseeing a diverse collection of lifestyle and full-service hotels. ...
Whitestone Companies Purchases Five Hotels From KKR Adding 612 Guestrooms to Portfolio
June 26, 2023
Columbus, OH – June 26, 2023 – Today Whitestone Companies announced the purchase of five hotels from KKR totaling 612 guestrooms. The hotels include: the Hilton Garden Inn Colorado Springs, Homewood Suites Colorado Springs, Homewood Suites Princeton, Homewood Suites Cleveland, and Courtyard West Palm Beach Airport. “Today is a great day,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “We are excited to add these new properties to our growing portfolio. I would like to thank all the people who put in an incredible amount of work to make this deal happen.” Whitestone Companies is a real estate investment com...
OUTRIGGER Resorts & Hotels to Acquire Kaua‘i Beach Resort & Spa
OUTRIGGER | June 26, 2023
HONOLULU – OUTRIGGER Resorts & Hotels today announced that it will be investing further in its home market of Hawai‘i with a planned acquisition at Kaua‘i Beach Resort & Spa. Located in the town of Līhu‘e on the ‘Garden Island’ of Kaua‘i, the resort spans 25 lush acres of beachfront property and features 350 guestrooms with unparalleled ocean views. The transaction is expected to be completed and close on August 22, 2023. Kaua‘i Beach Resort & Spa, once acquired, will represent an important milestone in OUTRIGGER Resorts & Hotels' ongoing expansion efforts – offering guests a full-service resort on all fo...
Driftwood Capital Acquires 299-Key Hilton Dallas/Plano Granite Park Hotel
Driftwood Capital | June 26, 2023
DALLAS (June 26, 2023) – Driftwood Capital, a vertically integrated commercial real estate firm providing attractive returns in hospitality, announces the acquisition of the Hilton Dallas/Plano Granite Park. The 299-key hotel is centrally located within the 90-acre master-planned, mixed-use community of Granite Park in the north Dallas suburb of Plano. This marks the company’s third hotel acquisition in the Dallas-Fort Worth market; it also owns the 231-key Hilton Dallas/Rockwall Lakefront and the 248-key Hilton Dallas Southlake Town Square. Driftwood Capital plans to renovate the hotel’s guestrooms and meeting space, and Driftwood H...
Mission Hill Hospitality Expands Select Service Portfolio With Acquisitions in Alabama and Virginia
Mission Hill Hospitality | June 22, 2023
DENVER, CO – June 22, 2023: Mission Hill Hospitality, a leading select service and extended stay hotel investor, announced it has acquired two new hotel assets in a single transaction as it continues to expand its portfolio throughout targeted markets in the US. The deal includes the Residence Inn Tuscaloosa, a 111-key hotel in Tuscaloosa, AL, and the 103-key Home2 Suites by Hilton in Blacksburg, VA. Terms are undisclosed. These are the 28th and 29th properties added to the Mission Hill Hospitality portfolio since the company was launched in March 2021. It is Mission Hill’s first acquisition in Alabama and its second in Virginia. “T...
MMGY Global Acquires European Data Intelligence Firm TCI Research
MMGY Global | June 20, 2023
MMGY GLOBAL EXPANDS EUROPEAN OPERATIONS WITH BRUSSELS-BASED RESEARCH COMPANY MMGY Global, the world’s leading integrated travel and hospitality marketing firm, announced today that it has acquired TCI Research, a data intelligence group specializing in the travel, tourism and hospitality sectors. Now known as MMGY TCI Research, the organization further enhances MMGY Global’s travel intelligence capabilities while strategically expanding its European footprint with offices in Brussels and Paris. Founded in 2010 by industry veteran Olivier Henry-Biabaud, TCI Research now touts 1.2 million euros in annual net revenue as well as ...
Blackstone Completes Acquisition of Cvent for $4.6 Billion
Cvent | June 15, 2023
TYSONS, VA – June 15, 2023 – Cvent Holding Corp. (“Cvent”), an industry-leading meetings, events and hospitality technology provider, today announced the completion of its acquisition by an affiliate of private equity funds managed by Blackstone (“Blackstone”) for $8.50 per share in cash, representing a total enterprise value of approximately $4.6 billion. The transaction, which was previously announced on March 14, 2023, includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and participation from existing stockholder Vista Equity Partners (“Vista”). As a resu...
Kirkwood Collection Acquires Three Luxury, Historic Properties in Palm Springs
Kirkwood Collection | June 13, 2023
TUESDAY, JUNE 13, 2023 – BEVERLY HILLS, CA- Continuing the momentum from their most recent acquisition in November 2022, the luxury boutique hotel group Kirkwood Collection is thrilled to announce that they have acquired three luxury, historic properties in Palm Springs: La Serena Villas, Del Marcos Hotel and The Three Fifty Hotel. All located in the heart of downtown Palm Springs, the addition of these hotels expands their Greater Palm Springs portfolio to five properties and brings the Kirkwood Collection portfolio to ten boutique hotels and properties throughout California. “Kirkwood Collection’s unwavering commitment to curating ex...
Ryman Hospitality Properties to Acquire JW Marriott San Antonio Hill Country Resort & Spa From Blackstone REIT for $800 Million
Ryman Hospitality Properties, Inc. | June 6, 2023
NASHVILLE, Tenn. and NEW YORK, June 06, 2023 -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (“Ryman”) and Blackstone Real Estate Income Trust, Inc. (“BREIT”) today announced a definitive agreement under which Ryman will purchase the JW Marriott San Antonio Hill Country Resort & Spa (“JW Marriott Hill Country”) in San Antonio, Texas for $800 million from BREIT. Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, said, “We identified the JW Marriott Hill Country as an ideal acquisition target quite some time ago. Located in an attractive and growing market with no emerging c...
KOP Group Acquires 105-Key Burns Hotel in London
KOP Group | June 6, 2023
(LONDON, 6 June 2023) – Singaporean investor, KOP Group, has announced the purchase of the 105-key Burns Hotel located within the Royal Borough of Kensington & Chelsea in London. The purchase through Knight Frank was completed on 30 May 2023. This is the second hotel the Group has purchased this year following their acquisition of Charlton House Hotel & Spa in Somerset via its public vehicle, KOP Limited. The Group will officially launch its Grade II listed, 28-room English country house in Somerset in summer 2023. Ms Leny Suparman, Group CEO and a Founder of KOP, said: “Our latest purchase, in one of London’s most affluent...
San Manuel Band of Mission Indians Acquires Ownership Interest in Waldorf Astoria Monarch Beach Resort & Club
San Manuel Band of Mission Indians | June 6, 2023
San Manuel Indian Reservation Near Highland, CA (June 6, 2023) - The San Manuel Band of Mission Indians (“SMBMI” or “San Manuel” or “Tribe”) today announced that the San Manuel Investment Authority (“SMIA”) through its affiliated entities acquired an ownership interest in the newly renovated Waldorf Astoria Monarch Beach Resort & Club (“Waldorf Astoria Monarch Beach” or “Waldorf Astoria”) in Dana Point, Calif. One of Southern California’s iconic luxury resort destinations, Waldorf Astoria Monarch Beach will be the Tribe’s latest addition to its expanding resort portfolio. “Investing in a luxury destinati...
MCR Acquires Three Hotels in Florida
MCR | June 5, 2023
NEW YORK--MCR — the country’s 3rd-largest hotel owner-operator — has acquired three hotels in Florida. Totaling 384 rooms, the portfolio includes a Hampton Inn by Hilton, a Courtyard by Marriott and a Hyatt Place in Orlando and Daytona Beach — both among Florida’s fastest-growing markets. With this portfolio acquisition, MCR now has 13 hotels in Florida. How magical! The 169-room Hyatt Place Orlando/Lake Buena Vista is located a few miles from Walt Disney World Resort and in walking distance of the world-class shopping, dining and entertainment offered in the Disney Springs district. It’s also a short drive from iconic desti...
Summit Hotel Properties Acquires Residence Inn Scottsdale North for $29 Million
Summit Hotel Properties | June 5, 2023
AUSTIN, Texas, June 5, 2023-- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has completed the acquisition of the 120-guestroom Residence Inn Scottsdale North for $29.0 million through its joint venture with GIC. Additionally, the Company is providing an update on previously announced disposition activity. Residence Inn Scottsdale North Acquired for $29.0 Million On June 1, 2023, the Company completed the acquisition of the 120-guestroom Residence Inn Scottsdale North ("Hotel") for $29.0 million through its joint venture with GIC. Located in Phoenix's high growth affluent North Scottsdale s...
Service Properties Trust Acquires 250-Key Nautilus Hotel in South Beach Miami for $165.4M
Service Properties Trust | June 2, 2023
NEWTON, Mass.---Service Properties Trust (Nasdaq: SVC) announced today that it has acquired the 250-room Nautilus Hotel located at 1825 Collins Avenue, Miami Beach, FL for $165.4 million, or approximately $661,600 per key. The Nautilus is a lifestyle oceanfront hotel located in Miami’s South Beach neighborhood with 250 guestrooms, including 55 suites, four food and beverage outlets, outdoor pool, spa, fitness center and 17,500 SF of flexible outdoor and indoor event space. The hotel will initially be branded as the Nautilus Sonesta Miami Beach, and undergo a $25 million repositioning commencing in the Summer of 2024 with plans to reopen in...
Pacifica Hotels Acquires Kimpton Hotel Vintage Seattle
Pacifica Hotels | June 2, 2023
ALISO VIEJO, Calif. — (June 2, 2023) —Pacifica Hotels, the largest owner and operator of boutique hotels along the Pacific Coast, is excited to announce the recent purchase of the Kimpton Hotel Vintage Seattle. The boutique hotel located in downtown Seattle will join the company’s growing portfolio of 40 plus properties currently located across California, Hawaii, and Oregon. Purchased for $33.7 million, Pacifica Hotels plans to undergo a thoughtful renovation that will refresh all 125 guest rooms as well as the restaurant and lobby. Hotel Vintage Seattle, which will remain Kimpton operated, boasts 660 sq. ft. of event space, an award...
CoralTree Hospitality Grows Texas Collection of Hotels & Resorts with the Addition of The Peninsula Beach Resort
CoralTree Hospitality | June 1, 2023
DENVER – June 1, 2023 – CoralTree Hospitality is growing its collection of hotels and resorts in Texas with the addition of The Peninsula Beach Resort, a full-service luxury resort community along the Gulf Coast. The 110-acre property in Port Bolivar is scheduled to offer 90 single family homes, 114 rental cottages that can accommodate up to 1,000 guests per day with a clubhouse and two pools, 50 recreational vehicle sites and more than 160 beachside condominiums, several dining options and a private airport. The first phase of the project will open next year. “The Peninsula Beach Resort is one of the most exciting new projects devel...
The Jackson Family Partners With Ensemble Investments, LLC to Purchase Sonoma County’s Vintners Resort
Vintners Resort | June 1, 2023
SANTA ROSA, CA. - June 1, 2023 – The Jackson family has formed a strategic partnership with Ensemble Investments, LLC (Ensemble), a leading developer, owner and operator of luxury hotels and commercial real estate, to purchase Vintners Resort – an intimate, four-diamond California certified green resort on a vineyard estate - from its founders, the Carano family. “After 23 years, it is time for me to step back and smell the roses. I feel very fortunate that our family will be able to pass the torch to another well-respected Sonoma County team,” says Rhonda Carano. “I welcome the Jackson family and Ensemble, and I have no doub...
Sensacional! City ID Acquires Historic Palace Baronesa in Lisbon, Portugal
City ID | June 1, 2023
Amsterdam, June 1, 2023 - City ID is continuing its international roll out. The transformation of a historic palace into an apartment hotel in the center of Lisbon is set to become City ID’s sixth location and one of its flagship properties. “After our locations in Amsterdam, London and Dublin, City ID is expanding into Southern Europe with this great acquisition in Lisbon. We will maintain and respect the heritage and features of the fantastic historic building, whilst creating a future proof and sustainable structure. We are thrilled with this new milestone for our international roll out and we are looking forward to the realization ...
Pebblebrook Hotel Trust Completes Sale of Hotel Vintage Seattle
Pebblebrook Hotel Trust | May 30, 2023
BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced that on May 24, 2023, it closed on the sale of the 125-room Hotel Vintage Seattle in Seattle, WA for $33.7 million to a third party. For the trailing twelve months ended March 31, 2023, the hotel’s net operating income was $0.8 million, and its Hotel EBITDA was $1.1 million, with the $33.7 million sales price reflecting a 31.0x EBITDA multiple and a 2.3% net operating income capitalization rate. Based on the hotel’s operating performance for 2019, the $33.7 million sales price reflects an 11.2x EBITDA multiple and a 7.3% net operating income capitalizatio...
Cienda Partners and Pendant Capital Acquire SENZA Hotel in Napa, California
Cienda Partners | May 30, 2023
DALLAS (May 30, 2023)—Cienda Partners and Pendant Capital today announced the acquisition of the SENZA Hotel in Napa, California. The partnership brings together two family-founded investment groups dedicated to building community—both with a deep understanding of the hospitality industry and a portfolio of independent, boutique properties. “The acquisition of SENZA, a beautiful luxury hotel, was a rare opportunity in a difficult-to-enter market,” said Barry Hancock of Cienda Partners. “We are pleased to add this hotel in the heart of Napa Valley to our growing portfolio of unique boutique hotels.” SENZA Hotel is ideally sit...
OUTRIGGER Hospitality Group to Acquire 432-Key Ka‘anapali Beach Hotel on Maui
OUTRIGGER | May 25, 2023
HONOLULU – Premier beach resort company OUTRIGGER Hospitality Group today announced its plans to acquire Kā‘anapali Beach Hotel, a beachfront resort on the Island of Maui, renowned as “Hawai‘i’s Most Hawaiian Hotel.” It is located on the golden sands of world-famous Kā‘anapali Beach, which was recently ranked as the No. 1 Beach in the U.S. and No. 10 Beach in the World by TripAdvisor. The property spans 11-acres with 432 rooms. This transaction is expected to close on July 26, 2023 at which time the property will be rebranded as OUTRIGGER Kā‘anapali Beach Resort. The purchase price is not being disclosed. “From ...
Holiday Inn Club Vacations Acquires Four Resorts in Mexico From Royal Resorts, Marks First International Expansion for the Company
IHG Hotels & Resorts | May 24, 2023
ORLANDO, FLA. (May 24, 2023) – Holiday Inn Club Vacations Incorporated, a leading vacation ownership company and partner of IHG® Hotels & Resorts (IHG), announced today that it has acquired four scenic beachfront resorts located in Cancun, Playa del Carmen and the Riviera Maya, Mexico from Royal Resorts®, a pioneer in the Mexican Caribbean tourism industry. The acquisition also includes most of Royal Resorts’ related companies and its corporate operations. These resorts will be Holiday Inn Club Vacations Incorporated’s first properties located outside the United States, further broadening Holiday Inn Club Vacations’ and IHG�...
Shaner Hotels Acquires 86-Room Hampton Inn & Suites by Hilton Hershey in Pennsylvania
Shaner Hotels | May 18, 2023
HERSHEY, Pa., May 18, 2023—Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced the acquisition of the 86-room Hampton Inn & Suites by Hilton Hershey in Pa. Shaner also will operate the property and plans to implement $1.2 million in renovations to completely remodel guest rooms. Additionally, the company announced that it will break ground on another hotel, a TownePlace Suites scheduled to break ground in the coming months. “Alongside our sister hotels, the Courtyard Hershey Chocolate Avenue and the Fairfield Inn Harrisburg International Airport, the Hampton Inn & Suites by Hi...
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