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Avison Young Announces Recent 2019 Closings

Avison Young | August 21, 2019

ATLANTA – August 21, 2019 – Avison Young Hospitality Group announced that the firm recently closed seven hotel transactions ranging from a full service Marriott hotel to select service properties located from California to Vermont. Additionally, the firm expects to close six transactions over the next five weeks and 25 transactions throughout the 3rd and 4th quarter of 2019....

Tennessee Quality Inn & Suites Will Be Auctioned on RealINSIGHT Marketplace This September

RealINSIGHT | August 19, 2019

CENTERVILLE, TN—August 19, 2019—RealINSIGHT Marketplace and CBRE Hotels are pleased to offer the fee-simple interest in the 39-room Quality Inn & Suites, situated in Centerville, Tennessee. This full-service hotel is situated along Highway 100, between Highway 50 and Highway 48, and is approximately 15 miles from Interstate 40. This Quality Inn & Suites benefits from great accessibility and is within close proximity to some of Centerville’s main demand generators, including the Duck River (1.8 miles), Centerville RiverPark, Life Care Center of Centerville, Saint Thomas Hickman Hospital, Pink Cadillac Drive In Movie Theater, G...

Pennsylvania Hampton Inn to Be Auctioned on RealINSIGHT Marketplace

RealINSIGHT Marketplace | August 15, 2019

PITTSBURGH, PA—August 15, 2019—RealINSIGHT Marketplace and Berkadia are pleased to offer the fee-simple interest in the 88-room Hampton Inn Wexford Sewickley for your acquisition consideration. The most recent proto-type Hampton Inn is ideally located just off Interstate 79, one of the Ohio Valley’s primary north-south corridors running from Lake Erie to the north and to Charleston, West Virginia to the south. The Hotel is also 15 miles north of downtown Pittsburgh’s many businesses and regionally popular leisure attractions. This represents an exceptional opportunity for investors to acquire a new-build Hampton, which is also t...

486-Room Full-Service Sheraton Park Anaheim Goes to Auction on RealINSIGHT Marketplace

RealINSIGHT Marketplace | August 13, 2019

ANAHEIM, CA—August 13, 2019—RealINSIGHT Marketplace and Berkadia are pleased to offer for sale the leasehold interest in the 486-room, Sheraton Park Hotel at The Anaheim Resort for your acquisition consideration. Located steps from the Anaheim Convention Center, Disneyland® Resort, Disneyland California Adventure® Park, Downtown Disney, and the Anaheim Garden Walk. This represents an exceptional opportunity for investors to acquire an institutional quality, full-service, Marriott branded hotel in a premium location with significant operational upside through renovation/brand conversion, leasing vacant space, reconfiguring the hotel layo...

Rare Opportunity to Acquire an Inner Harbor Hotel

RealINSIGHT Marketplace | July 11, 2019

BALTIMORE—July 11th, 2019—RealINSIGHT Marketplace and Berkadia are pleased to offer the opportunity to acquire the Brookshire Suites Inner Harbor Hotel. This 97-room, full-service and recently renovated hotel offers 77 spacious one-bedroom suites and 20 studio suites. The sale will take place on RealINSIGHT Marketplace, the online commercial real estate sales platform, on July 29th – July 31st. This Property is in the desirable heart of Baltimore’s Inner Harbor neighborhood surrounded by billions of dollars of new development juxtaposed with the city’s historic district. This location also offers incredible walking access to seve...

Opportunity to Acquire Value-Add Hampton Inn Mobile

RealINSIGHT Marketplace | July 10, 2019

MOBILE, AL—July 10th, 2019—>RealINSIGHT Marketplace and Berkadia are pleased to offer the opportunity to acquire the Hampton Inn Mobile. This 80-room three-story midrise hotel is ideally located within ten miles of downtown Mobile. The auction will take place on RealINSIGHT Marketplace, an online commercial real estate sales platform, on July 30th – August 1st. This Property is ideally located off Interstate 10, the southernmost cross-country interstate highway which connects major cities such as, Los Angeles, Phoenix, San Antonio, New Orleans, and Jacksonville. The Hampton Inn’s stellar historical performance demonstrates its s...

Avison Young Announces Recent Closings

Avison Young | June 27, 2019

ATLANTA – June 27, 2019 – Avison Young Hospitality Group announced that over the last several weeks the firm has closed a Marriott hotel in Pennsylvania, a select service hotel in DC and a resort hotel with golf in the northeast. The firm has 28 hotels under sale agreement with closings scheduled over the coming months and has closed 392 hotels since 2013....

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)....

Bay Tree Solutions Applauds ARDA Stance on Timeshare Exit Firms

Bay Tree Solutions | June 21, 2019

June 21, 2019 (ATLANTA, GA) -- Bay Tree Solutions, one of the timeshare industry’s most robust and ethical online timeshare marketplaces, issued a statement applauding the timeshare industry’s stance on timeshare exit firms. In a recent press release from ARDA (American Resort Development Association) entitled “Judges Ruling Demonstrates the Pattern of Fraud and Deception Perpetrated by Exit Firms on Unsuspecting Timeshare Owners” Robert Clements, VP of Regulatory Affairs and General Counsel of ARDA said “timeshare owners were deceived into paying large upfront fees for services that the exit company knew it could not deliver.” He...

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...

Kimpton Hotels & Restaurants to Redevelop Omaha’s Century-Old Blackstone Hotel and Office Building Into 205-Room Kimpton Omaha

Kimpton Hotels & Restaurants | May 31, 2019

SAN FRANCISCO (May 31, 2019) -- Kimpton Hotels & Restaurants announced today its first property in Nebraska, a complete rehabilitation of the historic Blackstone Hotel and former office building. The project is scheduled to open in the spring of 2020. Located in the popular and vibrant Blackstone District of Omaha near several iconic American companies, including Berkshire Hathaway, Mutual of Omaha, Ameritrade, and the Kiewit Corporation as well as the University of Nebraska Medical Center, the century-old property will feature 205 guestrooms, a steakhouse and the reimagined celebrated Cottonwood Room bar. A swimming pool in a resort-s...

Sam Moon Group Plans September 2019 Opening of 130-Room Hyatt Place Fort Worth/Alliance Town Center

Hyatt Place | May 30, 2019

FORT WORTH (May 30, 2019) – Hyatt Place Fort Worth/Alliance Town Center is expected to open in September 2019. The new, five-story, 130-room hotel will offer business and leisure travelers an open, intuitive design, casual atmosphere, and practical amenities, such as free Wi-Fi, 24-hour food offerings and a 24-hour fitness center. "Fort Worth is a world-class city and key business and leisure destination, and Hyatt Place Fort Worth/Alliance Town Center will add a wonderful new option for business and leisure travelers visiting the Alliance area," said General Manager Erin Alamillo. Hyatt Place Fort Worth/Alliance Town Center will be s...

Avison Young Announces Recent Closings

Avison Young | May 30, 2019

ATLANTA – May 30, 2019 – Avison Young Hospitality Group announced that with several closings over the last three weeks the firm has closed one hotel a week since January 2019 totaling $355,000,000 year to date in asset value. Additionally the firm has $401,000,000 under sale agreement with closings scheduled over the summer. Since 2013, the Avison Young Hospitality Group has closed 106 Marriott branded hotels, 72 Hilton branded assets, 50 IHG branded assets and 163 historic, upscale boutique, resort and other branded hotels. ...

Century Group Celebrates Opening of TRYP Pittsburgh | Lawrenceville Led by General Manager Dan Zwirn

May 30, 2019

PITTSBURGH, May 30, 2019 -- TRYP Pittsburgh | Lawrenceville has opened its doors and will celebrate its official opening on June 6, 2019. Pittsburgh's first art hotel features work by over 30 local artists and is located in the former Washington Education Center at the base of the 40th Street Bridge in Pittsburgh's Lawrenceville neighborhood. TRYP Pittsburgh | Lawrenceville is the first TRYP by Wyndham concept in the state of Pennsylvania and was developed by Century Hospitality, a hospitality group with locations in Pittsburgh, Pennsylvania and Wheeling, West Virginia. TRYP Hotel's concept is unique to each city and each city neighborhood...

IHG Signs With Kanden Amenix to Open ANA Holiday Inn Resort Shinano-omachi Kuroyon in 2020

May 30, 2019

30 MAY 2019 -- IHG® will open ANA Holiday Inn Resort Shinano-omachi Kuroyon in 2020, following the signing of a management agreement with Kanden Amenix Co., Ltd. Guests at the hotel, which is the second Holiday Inn Resort in Japan, can look forward to world-class facilities including a restaurant, swimming pool and spa, tennis courts, golf course, hot spring bath and gym, as well as a variety of activities that can be enjoyed in every season. The hotel long been a favourite with visitors to Kurboe Dam who are looking for an experience that's immersed in nature. In Q2 2020 it will reopen as ANA Holiday Inn Resort Shinano-omachi Kuroy...

Construction Is Underway on the Cambria Fort Lauderdale Beach, an MJH Managed Hotel

Meyer Jabara Hotels | May 30, 2019

[Danbury, Conn., May 30, 2019]—Hotel franchisor Choice Hotels International, Inc. (NYSE: CHH), developer Hotel Motel Inc., and property manager Meyer Jabara Hotels (MJH) broke ground here last week on the five-story, 104-room Cambria, scheduled to open in 2020. The asset, located at 2231 N. Ocean Blvd., will be one of the only hotels within walking distance to public beaches in the city's North Beach area. The hotel will boast ocean views and convenient access to The Strip, the city's popular waterfront promenade with dining and retail options, and will be a short drive from the Broward County Convention Center; Port Everglades, o...

Shaner Silver Spring Hotel, LLC Breaks Ground on 108-Room Fairfield Inn by

Shaner Hotels | May 30, 2019

MECHANICSBURG, Pa., May 30, 2019—Officials of Shaner Silver Spring Hotel, LLC, a partnership between Shaner Hotels, an award winning, international hotel owner, operator and developer, and Quarryville, Pa.-based Paul Risk Construction, a fourth generation, family-owned construction company, today announced the groundbreaking of the 108-room Fairfield by Marriott Mechanicsburg in Pa. The hotel is expected to open during the third quarter of 2020. Pennian Bank, based in Mifflintown, Pa., provided the construction financing. "The Fairfield Inn by Marriott Mechanicsburg meets all of our qualifications for an ideal portfolio addition: ...

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