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Towneplace Suites by Marriott to Open in the Outer Banks With General Manager Amanda Phillips at the Helm

TownePlace Suites by Marriott | June 10, 2019

Kill Devil Hills, NC – June 10, 2019 – Get ready to be real and be you on long stays. Marriott International’s TownePlace Suites by Marriott Outer Banks Kill Devil Hills is scheduled to open for business this month. Built for travelers looking for a simple and friendly place where they can settle-in, keep their routine, and easily connect to the Outer Banks area. The new hotel located at 2028 South Virginia Dare Trail, will operate as a Marriott franchise, owned by First Flight Hotel, LLC and managed by Rocklight Capital of Williamsburg, Virginia. “We are excited to introduce the TownePlace Suites brand to the Outer Banks area,” ...

MSD Partners Closes Sale of 1,047-Room Boca Raton Resort & Club From Blackstone Group for $461.6 Million

MGM Resorts International | June 10, 2019

Jeff Ostrowski | The Palm Beach Post, Fla. June 07--In the biggest property sale in Palm Beach County history, the Boca Raton Resort & Club sold this week for $461.6 million, according to deeds made public Thursday. A company affiliated with billionaire Michael Dell announced in April that it would buy the iconic club from Blackstone Group, but the buyer and seller didn't disclose the price at the time. Dell's MSD Partners is the new owner of the 1,047-room hotel. Dell himself visited the hotel several times from 2000 to 2004, when the Boca Resort hosted annual meetings of The Business Council, an organization made up of the heads of th...

Briad Group Holds “Top-Off” Celebration for AC Marriott Bridgewater, New Jersey

The Briad Group® | June 10, 2019

Bridgewater, NJ, June 7, 2019 – AC Hotels by Marriott, an upscale lifestyle hotel, celebrated a major construction milestone yesterday with a “top-off” party marking the completion of the property’s roof. Conveniently located off of Route 202 and I-287, the hotel is minutes away from the Bridgewater Commons Mall and features a walkway to Zinburger Wine & Burger Bar, a boutique burger restaurant.  AC Marriott Bridgewater will be the brand’s first property in New Jersey and will employee approx. 100 people. The property is owned and managed by Briad Lodging Group, LLC, the hotel division of Livingston, New Jersey-based The Briad ...

Hotel construction is booming as developers bet on Bakersfield’s economy

June 5, 2019

June 06-- Jun. 6--Expectations that Bakersfield's economy is on the rise have created the city's biggest hotel boom since the Great Recession. Half a dozen hotels with a combined 658 rooms are proposed or under construction, all on the city's west side and many of them extended-stay properties geared toward business travelers. Some of the incoming brands are entirely new to the city. Hoteliers say the rush of private investment is being driven in part by other local projects, such as the Amazon distribution center under construction near Meadows Field Airport. There's also a sense the city's relatively low housing an...

Hyatt Enters Agreement for Hyatt Regency Coco Beach Resort in Puerto Rico

Hyatt Hotels Corporation | June 5, 2019

CHICAGO (June 5, 2019) - Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a franchise agreement with Coco Hotel 1 LLC for a new hotel, expected to open July 2019 as a Hyatt affiliated hotel and then become Hyatt Regency Coco Beach Resort after an extensive renovation is completed this fall. The 486-room hotel with 93 branded residencies will be managed by Aimbridge Hospitality and signifies Hyatt's continued brand growth on the island of Puerto Rico and across the Caribbean region. The hotel will be the brand's only full-service property in Puerto Rico. The hotel will operate as The Resort at Coc...

Pebblebrook Hotel Trust to Sell LA’s 132-Room Hotel Amarano Burbank for $72.9M

Pebblebrook Hotel Trust | June 3, 2019

BETHESDA, Md.-- 6/3/2019 -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it executed a contract to sell the 132-room Hotel Amarano Burbank in Los Angeles, California for approximately $72.9 million to a third party. The contracted sale price reflects a 15.8x EBITDA multiple and a 5.7% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) 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 16.9x EBITDA multiple and a 5.3% net operating income capitalization ra...

IHG ANA Hotels Group Japan and Yokohama Grand InterContinental Co. Setting Sail in Yokohama With New InterContinental Hotel

May 31, 2019

InterContinental Hotels Group (IHG®) has announced InterContinental Yokohama Pier 8 will open its doors to guests in November 2019 in the Minato Mirai area of Yokohama. The franchise agreement was made by IHG's domestic operating company, IHG ANA Hotels Group Japan (Head office: UK, Japan: Tokyo; CEO: Hans Heijligers) and Yokohama Grand InterContinental Co., Ltd. (Yokohama City, Kanagawa Prefecture Nishi-ku Minato Mirai 1-1-1, President and Representative Director: Azuma Umemura). InterContinental Yokohama Pier 8 will be built on the premises of the 'Yokohama Hammer Head Project' which is developed by SHINKO PIER CRUISE TERMINAL Co.,Lt...

Residence Inn by Marriott Opens in Big Sky, Montana Led by General Manager Mandy Hotovy

Residence Inn by Marriott | May 31, 2019

Big Sky, MT – May 31, 2019 – The 129-suite Residence Inn by Marriott in Big Sky, Montana is now open with its upscale, stylish décor that offers flexibility, while creating a unique environment. Located at 145 Town Center Avenue, the all-suite Residence Inn Big Sky/The Wilson Hotel will operate as a Marriott franchise, owned by Town Center Investment Holdings, LLC and managed by Urgo Hotels & Resorts of Bethesda, Maryland. Centrally located in the heart of the Big Sky community and just a short drive from some of Montana's most spectacular sites including Yellowstone National Park, the Residence Inn Big Sky/The Wi...


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