Nobu Hospitality Plans Summer 2020 Openning of Nobu Hotel London Portman Square
Nobu Hotel London Portman Square | February 12, 2020
RobertDouglas Advises Geolo Capital and JW Capital Partners on the $120,000,000 Sale of the Thompson Washington, D.C.
RobertDouglas | January 27, 2020
Finance & Development
City Center Hotels Opens Dual-Branded Marriott Hotels and Residence Inn in Downtown Lexington, Kentucky
Lexington Marriott City | January 29, 2020
Lexington, KY – January 29, 2020 – Marriott International, Inc. announced today that a dual-branded Marriott Hotels and Residence Inn by Marriott property opened in downtown Lexington, Kentucky on Wednesday, January 8, 2020. Located on the 100 block of West Main Street, the hotels are owned by City Center Hotels, a joint venture between The Webb Companies and Greer Companies and will be managed by NorthStar Hospitality LLC of Lexington, Kentucky. The new property will offer a combined 337 guest rooms and will share some amenities including a rooftop relaxation pool, a fitness center, 11,171 square feet of meeting space and Infinity – a ...
Atari Teams Up With True North Group to Develop First Branded Hotels
January 29, 2020
SAN JOSE — Atari is planning a series of hotels that will sport the name of the videogame icon, with hotel sites slated to include San Jose. The gaming trailblazer vows that the hotels will meld its legendary brand with a unique destination that has a videogame theme. Paris-based Atari is teaming up with developer True North Group and branding expert GSD Group to develop and launch the hotel chain. “We are thrilled to partner with GSD Group and True North Studio to build the first-ever Atari branded hotels across the United States,” said Fred Chesnais, Atari’s chief executive officer. “Together we’ll build a space that wi...
Mayfair Street Partners and Hotel Equities Announce Luxury Boutique Hotel – The Hamilton, a Curio Collection by Hilton in Alpharetta
Mayfair Street Partners | January 28, 2020
ALPHARETTA, GA., January 28, 2020 — Today, Mayfair Street Partners and Hotel Equities officially announced the name of the highly anticipated boutique hotel, The Hamilton, a Curio Collection by Hilton. Construction is underway on the luxury 119-room hotel located at 21 Milton Avenue in Alpharetta’s city center district. The hotel is owned and being developed by Alpharetta-based Mayfair Street Partners, LLC. Atlanta-based Hotel Equities will operate the hotel and is an investor into the project. The landmark hotel will become the heartbeat of Alpharetta and add to the city’s vibrant entertainment and restaurant scene. In addition...
Dream Hotel Group Signs With Aldea Oceana Holdings to Develop Luxury Condo-Hotel in Playa Del Carmen, Mexico
Dream Hotel Group | January 28, 2020
NEW YORK, NY (January 28, 2020) – Celebrated hotel brand and management company Dream Hotel Group today announced plans to bring its distinct brand of luxury lifestyle hospitality to Playa del Carmen, Mexico with the opening of Emma & Elissa by Dream Hotel Group in 2023. The latest signing with Mexico-based developers Aldea Oceana Holdings S.A.P.I. de C.V., a partnership between Grupo Proactivo and Foro Construcciones, represents a major milestone for Dream Hotel Group, as it marks the group’s second location in the Yucatán Peninsula and its fifth hotel in Mexico, further positioning the company as international hospitality innovat...
Sonnenblick-Eichner Company Arranges $17,750,000 of Interim First Mortgage Financing for The Normandy Hotel, Washington, D.C.
Sonnenblick-Eichner Company | January 28, 2020
Beverly Hills, California – January 28, 2020 – Sonnenblick-Eichner Company announced today that it has arranged $17,750,000 of interim first mortgage financing for The Normandy Hotel, a six-story, 75-room boutique hotel located in the upscale Kalorama district of Washington, D.C. The Kalorama district is one of Washington, D.C.’s most desirable neighborhoods, located just blocks from Dupont Circle, and minutes from the White House, Capitol Hill, Smithsonian Museums, National Zoo and the Walter E. Washington Convention Center. The non-recourse LIBOR-based loan has a term of 5 years and paid off an existing acquisition and renovation l...
West77 Partners and The Hotel Group to Break Ground on New Homewood Suites by Hilton in Downtown Bellevue
West77 Partners | January 27, 2020
Seattle, WA, January 27, 2020 — West77 Partners and The Hotel Group (THG) announced today the new Homewood Suites by Hilton Downtown Bellevue, located in Bellevue, Washington, is scheduled to break ground during the winter of 2020/21. West77 Partners, the project developer, has selected The Hotel Group to manage the 224-room Homewood Suites by Hilton when it opens in 2022. The property will be located adjacent to West77 Partners’ 254-room Hilton Garden Inn and will represent one of the final phases of development on the Washington Square Superblock. “We are excited to bring another top-notch Hilton hotel to downtown Bellevue,” ...
Dream Hotel Group Signs Dream San Antonio, Texas Location
Dream Hotels | January 27, 2020
Reveals plans to open 217-key Dream Hotel in downtown San Antonio in 2023 NEW YORK, NY (January 27, 2020) – Celebrated hotel brand and management company Dream Hotel Group announces plans to open Dream San Antonio, Texas in 2023. With more than twenty new hotels on the horizon for Dream Hotel Group, the signing of Dream San Antonio represents another exciting milestone in the continued growth and expansion of the company and its portfolio of lifestyle brands. “San Antonio is one of the most authentic, passionate and diverse cities in America, as seen through its bold culture, rich history and burgeoning art, music and culinary scene...
RobertDouglas Advises Geolo Capital and JW Capital Partners on the $120,000,000 Sale of the Thompson Washington, D.C.
RobertDouglas | January 27, 2020
New York – January 27, 2020 - RobertDouglas announced today that it advised a joint-venture between Geolo Capital and JW Capital Partners in arranging the forward-sale of the Thompson Washington, D.C. to Union Investment, a German institutional fund manager, for $120,000,000. “The opportunity to participate in the development of the Thompson Washington, D.C. attracted a wide range of investment options. Ultimately, Union Investment offered the most attractive structure though a sale-leaseback,” commented Evan Hurd, Principal and Managing Director. “Although the sale-leaseback model is commonplace in most European markets, it is sti...
$150M Loews Coral Gables Breaking Ground in April With Planned Opening in Mid-2022
January 23, 2020
Nearly 22 years after the Loews Miami Beach launched a boom in new hotel construction in that city, the hospitality giant is opening a second location in Miami-Dade County. The 242-room Loews Coral Gables, a luxury hotel catering to business travelers and weekend vacationers, will break ground in April at 2901 Ponce de Leon Boulevard. The $150 million resort, which will feature 15,000 square feet of meeting space and a rooftop pool/event deck, is scheduled for completion by mid-2022. The hotel is a joint venture between the Miami-based Agave Holdings, the real estate firm currently developing the seven-acre mixed-use project The Plaza, ...
IHG and Pro-invest to Bring the Sustainable voco™ Brand to New Zealand in 2021
IHG ® | January 22, 2020
IHG’s colourful voco™ brand is coming to New Zealand in mid-2021, following the signing of a franchise agreement between IHG and Pro-invest. voco Auckland City Centre will incorporate all the elements of the voco life, including 200 guest rooms that are designed around the ‘Me Time’ concept with premium beds for a quality sleep experience, superior showers, innovative lighting and user-friendly technology. Beyond guest rooms, the hotel will feature an all-day restaurant and bar, and guest gym. Located in the very heart of Auckland’s centre, at the corner of Albert and Wyndham Street, voco Auckland City Centre will not only loo...
IHG Signs Two New Hotels in Saudi Arabia Following Announcement of Office in Riyadh
IHG ® | January 22, 2020
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has announced two new properties in the Kingdom of Saudi Arabia. Further strengthening its foothold in the luxury segment in KSA, IHG has signed a management agreement for InterContinental Dammam in partnership with Salem Mohammed Al Qahtani. To cater to the need for more branded midscale accommodation in Riyadh, IHG has also signed a management agreement for Holiday Inn Riyadh Al Malaz in partnership with Saleh Alsalamah and Partner Companies. The agreements were announced at Saudi Arabia Hospitality Investment Conference (SHIC) 2020 in Riyadh. Opening...
Marriott Signs With Nahdet Al-Mashaer for World’s Largest Fairfield by Marriott Hotel in Makkah, Saudi Arabia
Marriott International | January 22, 2020
Marriott International, Inc. (NASDAQ: MAR) today announced that it has signed a landmark agreement with Nahdet Al-Mashaer to open a 2,600-room Fairfield by Marriott property in Makkah. The agreement is expected to deliver the first Fairfield by Marriott property to the Middle East and Africa region, create the largest Fairfield hotel in the world and bring one of the largest hotels to the growing religious destination of Makkah. Construction for the Fairfield by Marriott Makkah Al Naseem has already commenced and the hotel is slated to open in 2023. “We are thrilled to be working with Nahdet Al-Mashaer to create a distinctive Fairfield b...
Radisson Hotel Group Signs Radisson Hotel Apartments Muscat Ghala Heights in the Sultanate of Oman
Radisson | January 20, 2020
Brussels/Muscat - January 20, 2020 - Radisson Hotel Group is proud to announce the signing of Radisson Hotel Apartments Muscat Ghala Heights in the Sultanate of Oman. The newest addition brings the group’s portfolio up to eight hotels across five brands – including Radisson Collection, Radisson Blu, Park Inn by Radisson and Radisson – and will strengthen the group´s leading position within the Sultanate. As the economic and commercial capital of Oman, Muscat hosts an array of international companies and institutions and boasts a rich cultural heritage along with beautiful landscapes. Located within the Ghala Heights business distric...
Hospitality Financial Leadership: Duty Meals
David Lund | January 20, 2020
By David Lund Recently I attended a hotel association conference where I was a speaker for one of their breakout sessions. The opening morning of the convention started with a breakfast where we listened to the many great developments within the association in the past year and heard a fantastic story from the morning keynote about evacuating an entire city without one casualty or serious injury from an oncoming forest fire. What a morning! But the thing that got me more that anything else that day was a memory. The memory of being in that very room some 35 years earlier having breakfast all by myself. You see it was the hotel and dinin...
Long-Anticipated Hyatt Regency Salt Lake City Convention Center Hotel Breaks Ground
Visit Salt Lake | January 16, 2020
January 16, 2020. Salt Lake City, UT – After extensive planning, Visit Salt Lake, Salt Lake County, Portman Holdings and Hyatt Hotels Corporation announced the plans, timeline and details of the long-awaited and much-anticipated Salt Lake convention center hotel during a groundbreaking ceremony held Friday, January 10, at the Salt Palace Convention Center. The 700-room Hyatt Regency Salt Lake City will be located on the southeast corner of the lot on which the Salt Palace Convention Center sits and be built adjacent to the convention center’s public space. The 25-floor property will offer 60,000-square feet of indoor meeting space, in...
IHG Announces Strategic Partnership With Asset World Corporation (AWC) for Development of More Than 1,200 Rooms in Thailand
IHG | January 15, 2020
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has announced a strategic partnership with long-standing partner Asset World Corporate (AWC), Thailand's leading integrated lifestyle real-estate group, to manage a portfolio of properties across Thailand. The agreement will see the development of more than 1,200 rooms across Thailand, with the first signing announced today as the 306-room InterContinental Chiang Mai Mae Ping. Serena Lim, Vice President, Development, IHG South East Asia and Korea commented, “With plans to double our portfolio in Thailand in the next 3-5 years, this signing today between ...
Sonnenblick-Eichner Company Arranges Interim Leasehold First Mortgage Financing for Residence Inn by Marriott Walnut Creek, Walnut Creek, California
Sonnenblick-Eichner Company | January 15, 2020
Beverly Hills, CA – January 15, 2020 – Sonnenblick-Eichner Company has arranged interim first mortgage leasehold financing for the Residence Inn by Marriott Walnut Creek, located in Walnut Creek, CA. The non-recourse LIBOR-based loan funded upon completion of construction and the opening of the hotel. The Residence Inn by Marriott Walnut Creek is a 160-room, six-story, extended-stay hotel located in the heart of downtown Walnut Creek. The 77% loan-to-cost loan with a credit spread in the low 300s over LIBOR, provided a return of cash equity to the borrower and relieves them of the recourse obligations associated with the construction l...
9-year-old finds loaded Santa Clara County Sheriff deputy’s handgun in Airbnb Colorado Springs Airport hotels grow larger
January 14, 2020
Friday night, Jon Segarra and his family arrived at their Airbnb in South Lake Tahoe after a four-hour sojourn from the Bay Area, looking to get started on a snowy weekend. As Segarra, a Hayward resident, unloaded the car with his girlfriend and sister, the six kids between them ran pell-mell into the house. As the kids squabbled over sleeping arrangements and searched the house for board games, Segarra’s 9-year-old son Joshua, flanked by his two younger siblings and cousin, opened a bedside drawer. But instead of a checkers set or deck of cards, they found a badge. And a loaded handgun. Both apparently belong to a Santa Clara Coun...
Raffles Boston Back Bay Hotel & Residences Breaks Ground
January 13, 2020
The 33-Story, $400 Million+ Project Marks the First Raffles Hotel & Residences in North America Boston, MA – Raffles Boston Back Bay Hotel & Residences broke ground, writing a new story for both the illustrious Raffles Hotels & Resorts brand and the City of Boston. Projected to open in early 2022, the 33-story, $400 million+ project will be the first mixed-use property in North America for the world-renowned and iconic hospitality brand. Raffles Boston Back Bay Hotel & Residences will be located at 40 Trinity Place, Boston, MA. The flagship North American property will be a welcoming oasis within the heart of the city...
Serenade Caribbean Hotels Renames New Hotel to Serenade Punta Cana Beach, Spa & Casino Resort
Serenade Caribbean Hotels | January 13, 2020
PUNTA CANA, Dominican Republic (Jan. 13, 2020) - Serenade Caribbean Hotels has announced the renaming of its flagship hotel to Serenade Punta Cana Beach, Spa & Casino Resort, which incorporates "casino" in the title. Casino, along with the existing "beach" and "spa," reflect the value-added amenities that will be available at the new five-star, 603-room, all-inclusive resort scheduled to open in June 2020 on Playa Cabeza de Toro in Punta Cana, Dominican Republic. "In order to convey a complete vacation experience for guests, we have decided to update the name of our first resort to Serenade Punta Cana Beach, Spa & Casino Resort," s...
Spectacle Entertainment and Hard Rock International Break Ground On $400 Million Hard Rock Casino Northern Indiana
Hard Rock® | January 13, 2020
GARY, Ind., Jan. 13, 2020 -- Spectacle Entertainment and Hard Rock International announced the development and construction of Hard Rock Casino Northern Indiana at an official groundbreaking ceremony held on Thursday, Jan. 9. The ceremony was conducted at the construction site, located at 5400 West 29th Ave. in Gary, and included state and local officials, Spectacle Entertainment and Hard Rock executives. Concluding the ceremony, Executive Director of the Indiana Gaming Commission Sara Tait, Spectacle Entertainment Chairman and Chief Executive Officer Rod Ratcliff and Chairman of the Seminole Tribe of Florida Marcellus Osceolaplanted sh...
Hyatt Signs With KL MIDTOWN to Develop 450-Room Hyatt Regency in Kuala Lumpur
Hyatt Regency | January 13, 2020
CHICAGO (January 13, 2020) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with KL MIDTOWN Sdn. Bhd., a joint venture company by Hap Seng Consolidated Berhad (Hap Seng) and TTDI KL Metropolis Sdn. Bhd., to develop a new 450-room Hyatt Regency branded hotel in Kuala Lumpur. Set to be completed in 2024, the new hotel will mark the return of the Hyatt Regency brand to Kuala Lumpur. For leisure and business travelers visiting the Malaysian capital, Hyatt Regency Kuala Lumpur will deliver energizing experiences and a stress-free environment that embodies the Hyatt Regency br...
Hospitality Financial Leadership: Chapter Four – The Pencil
David Lund | January 13, 2020
By David Lund The week after the summit was a bit of a blur for me. Several requests for interviews, all declined. Our public relations manager handled these with a simple story the flag mishap was a mistake given the procurement of new flags and the innocent mix up of which ones go where. Not our finest hour but the furor died down. But not before the chairman’s call. He was ballistic. “How could you be so stupid,” he asked? I explained the situation to him and he calmed down a little. “That little princess,” he said, “You tell her the next time she calls that we are not part of her domain. “Liquor permits or...
Construction Begins on Long-Awaited Convention Center Hotel in Palmetto, Florida
January 10, 2020
It’s suffered many pitfalls since it was first announced in 2017, but the much-anticipated new hotel project near the Bradenton Area Convention Center in Palmetto is officially under construction. The celebratory groundbreaking ceremony held on Tuesday starts a 20-month construction schedule that will see an eight-story full service Sheraton Hotel rise from the ground. The hotel will feature 252 guestrooms, a full service restaurant and more than 10,000 square feet of meeting space, including a 7,600-square-foot ballroom. Other features will include a rooftop lounge with deck, a 1,500-square-foot fitness center, an outdoor pool and 32...
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