Development

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Development

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 ...

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...

RIU Acquires Second Hotel in Tanzania to Be Marketed Under Riu Palace Brand

RIU Hotels & Resorts | July 3, 2019

RIU Hotels & Resorts has acquired its second hotel in Tanzania, to accompany the other one the chain already has in the country. This new property will be marketed as part of the sophisticated Riu Palace range, as Riu Palace Zanzibar already is. The new hotel is located in the Nungwi Beach area and it has all the facilities needed to enjoy this paradise destination. It sits on a spectacular white-sand beach with crystalline waters, at the far north of Unguja, the main island of the Zanzibar archipelago, at a little over an hour by car from the airport and the capital city. Its 149 rooms are five-star rated and they offer maximum...

AJ Capital Partners Plans Fall 2020 Opening of Graduate Hotel in Tuscon, Arizona

AJ Capital Partners | July 3, 2019

Tucson, Ariz. – Adventurous Journeys (AJ) Capital Partners announced today its plan to open Graduate Tucson, part of the Graduate Hotels® collection, in Tucson, Arizona. The 14-story, 164-room ground-up hotel development will be located on 2nd Street, just off Park Avenue and University Boulevard. The hotel will be part of a mixed-use development that includes retail, residential apartments and a public plaza slated to open in fall 2020. Prominently located just steps from the University of Arizona, Graduate Tucson will be in the heart of Main Gate Square and the campus restaurants, shops and office space making it the perfect offering ...

Ormond Hotels to Debut Its First Boutique Property, The Chow Kit, in Kuala Lumpur

Studio Tack | July 3, 2019

3 July 2019 - Opening in the heart of old Kuala Lumpur, The Chow Kit - an Ormond Hotel, will boast 113 rooms and suites in the eponymous Chow Kit neighborhood. Known for its bustling market and local businesses, Chow Kit will now be home to the first property from Ormond Hotels. With two further sites set to open in Melbourne and Dublin by 2022, Ormond Hotels is rethinking the notion of luxury for the contemporary traveller. Ormond Hotels believe that life’s greatest luxury is one lived with comfort, purpose and balance. In a world filled with excess, extravagance no longer evokes desire, so Ormond Hotels has edited out the unnecessary a...

RLJ Lodging Trust Completes Sale of Kingston Plantation for $156 Million ($244K/Key)

RLJ Lodging Trust | July 2, 2019

BETHESDA, Md. -- RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that the Company sold two hotels located in Myrtle Beach consisting of the 385-room Hilton Myrtle Beach Resort and 255-room Embassy Suites by Hilton Myrtle Beach Oceanfront Resort (“Kingston Plantation”) for $156.0 million or approximately $244,000 per key. “We are pleased with the solid execution and attractive multiple generated by the sale of these two beachfront hotels,” commented Leslie D. Hale, President and Chief Executive Officer. “This transaction is a continuation of our strategic efforts to sell non-core hotels and recycle capital into m...

Gehr Hospitality Acquires the 129-Room Hyatt Place, King of Prussia

Gehr Hospitality | July 2, 2019

LOS ANGELES -- Gehr Hospitality, a division of The Gehr Group (www.Gehr.com), announced the acquisition of the 129-room Hyatt Place, located in King of Prussia, PA, through a joint venture with Oakhurst Advisors, LLC. The acquisition was financed by Wells Fargo, and The Plascencia Group represented the seller. Ms. Thuong Luong and Ms. Molly Caccamo of Gehr Hospitality led the transaction on behalf of the Company. We like the Philadelphia market, and in particular the local demand generators in the King of Prussia sub-market,” said David Lifschitz, President and CEO of The Gehr Group, “and we welcome the addition of this property to our...

Renaissance New York Chelsea Coming to Manhattan Fall 2019

Renaissance Hotels | July 1, 2019

NEW YORK (July 1, 2019) - Come Fall 2019, Renaissance New York Chelsea Hotel will officially open its doors as one of the tallest properties in Manhattan’s enchanting Flower District rising 430-feet-high. Located on the site of the former Antique Garage, a beloved indoor flea market, the impeccably appointed hotel is set to become the Chelsea neighborhood’s prime address. “This project brings together the past and present of Chelsea,” said General Manager of Renaissance New York Chelsea Hotel Chris Rynkar. “Not only will guests experience the heart of the neighborhood, from the ground level to the skyline, every detail intentiona...

IHG Signs With Quality Group and Sunnyseeker Hotels for Hotel Indigo® Cyprus – Larnaca

IHG | July 1, 2019

IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has today announced the signing of Hotel Indigo® Cyprus - Larnaca. Set to open at the end of 2019, the hotel is signed under a franchise agreement with Quality Group and Sunnyseeker Hotels, a rapidly expanding hotel management company which is currently operating a number of hotels across the country, and under the ownership of Quality Group, one of the premier property development companies in Cyprus. The Hotel Indigo® Cyprus Larnaca will be located in one of the best historic areas of Larnaca close to the city centre and airport, which is the largest i...

The Lost Stone Villas & Spa Joins The Unbound Collection by Hyatt

The Unbound Collection by Hyatt | July 1, 2019

CHICAGO -- Hyatt Hotels Corporation (NYSE: H) announced today that The Lost Stone Villas & Spa officially joined The Unbound Collection by Hyatt in Tengchong, Yunnan Province of Southwest China, marking the second property under The Unbound Collection by Hyatt in Greater China. The resort, built using six types of natural stone used throughout the property’s paths, walls and roof of the buildings, received its namesake as it blends seamlessly into the nearby mountains, almost appearing lost in nature. “We are pleased to expand The Unbound Collection by Hyatt brand in China with The Lost Stone, an all-villa resort, located near the ...

Simon and Norwich Partners Breaks Ground on AC Hotel by Marriott at South Florida’s Sawgrass Mills

Sawgrass Mills | June 26, 2019

SUNRISE, Fla., June 26, 2019 -- Simon®, a global leader in premier shopping, dining, entertainment and mixed-use destinations today announced it has commenced construction to bring the AC Hotel by Marriott brand to Sawgrass Mills, the largest outlet and value retail shopping destination in the United States. The 174-room hotel is expected to open in late 2020 – a timeframe that would coincide with the shopping center's 30th anniversary. Plans for the eight-story hotel, which is being developed with Norwich Partners, call for modern guest rooms and public spaces designed with sleek furnishings, an open closet system, and elegant art and ...

MCR Acquires Residence Inn By Marriott Albuquerque Airport

MCR | June 26, 2019

NEW YORK / JUNE 26, 2019 - Hot! Hot! Hot! MCR, the sixth-largest hotel owner-operator in the United States, has acquired the 110-room Residence Inn by Marriott Albuquerque Airport. Just 5 miles southeast of downtown, the property is close to many of the city’s sizzling destinations for work and play. New Mexico is known for its Hatch chiles: the carne adovada, a slow-cooked pork dish in red chile sauce, is legendary at Albuquerque’s Mary & Tito’s Café, though you’ll even find green chiles at McDonald’s! Yet these days what’s heating up the Duke City is the arrival of tech companies. Netflix recently purchased ABQ Studios, ...

Radisson Hotel Group Partners With One Pro Investments for Restoration of Australia’s Imperial Hotel

Radisson Hotel Group | June 26, 2019

Radisson Hotel Group™ is proud to announce the signing of the Asia Pacific region’s inaugural Radisson Collection hotel, to be located in Australia’s alluring Blue Mountains. Scheduled to open in 2023, Imperial Hotel, A Radisson Collection Hotel will mark the rebirth of one of Australia’s first great “tourist hotels”, which opened in 1878 and has hosted Prime Ministers and royalty, including King George V and George VI. It remains an iconic building today and the symbol of a prosperous era in Mount Victoria. The original Imperial Hotel building will now be restored to its former glory and a collection of stylish chalets will...

The Venetian Macao and The Parisian Macao Will Become InterContinental Alliance Resorts Through IHG and Sands China Partnership

IHG | June 25, 2019

IHG®, one of the world’s leading hotel companies, and Sands China, Ltd. announced today that The Venetian Macao and The Parisian Macao will become InterContinental Alliance Resorts beginning today. In addition, The Londoner Hotel in Macao will join the alliance when it opens in 2020 following the renovation of the current Holiday Inn Macao Cotai Central. IHG and The Venetian Resort Las Vegas also announced the long-term extension of their alliance. The partnership extends through to 2027 at all five properties. InterContinental Alliance Resorts partners with world-renowned hotel operators in landmark locations to bring luxury resorts to...

Pebblebrook Hotel Trust Executes Contract to Sell D.C.’s Rouge Hotel for $42 Million

Pebblebrook Hotel Trust | June 24, 2019

BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it executed a contract to sell the 137-room Rouge Hotel in Washington, D.C. for $42.0 million to a third party. The contracted sale price reflects a 17.4x EBITDA multiple and a 5.0% net operating income capitalization rate based on the hotel’s operating performance for 2018. Based on the trailing 12-month period ended March 2019, the contracted sales price reflects a 17.7x EBITDA multiple and a 4.9% net operating income capitalization rate. The net operating income capitalization rates are after an assumed annual capital reserve of 4.0% of total...

Waldorf Astoria Hotels & Resorts to Debut in Mexico with Conversion of The Resort at Pedregal

Waldorf Astoria Hotels & Resorts | June 24, 2019

LOS CABOS, Mexico and MCLEAN, Va. – June 24, 2019 – Waldorf Astoria Hotels & Resorts, Hilton’s (NYSE: HLT) iconic luxury hotel brand, today announces its upcoming debut in Mexico as it assumes operation of the award-winning The Resort at Pedregal and rebrands the iconic hotel as Waldorf Astoria Los Cabos Pedregal. Known as one of the best hotels in Mexico and recently acquired by affiliates of Walton Street Capital Mexico, the luxury retreat is set on 24 acres of dramatic mountains and pristine beaches, and is primed to welcome guests with True Waldorf Service beginning Q4 2019. “As the brand’s first property to debut in Mex...

Pinnacle Advisory Group Issues Hotel Management RFQ for a 225-Room Hotel at the University of Virginia

Pinnacle Advisory Group | June 24, 2019

On behalf of the University of Virginia, Pinnacle Advisory Group is seeking qualifications from a hotel management company to develop and operate a proposed independent, upper upscale, hotel with 225-rooms and 25,000 SF of meeting space on the campus of UVA.  To receive a copy of the RFQ please contact Anne Purcell (apurcell@pinnacle-advisory.com)....

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