Real Estate
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: ...
Choice Opens Two New York Comfort Inn Hotels in Brooklyn and Long Island City
May 29, 2019
ROCKVILLE, Md., May 29, 2019 -- Comfort hotels, franchised by Choice Hotels International, Inc. (NYSE: CHH), continues its nationwide expansion with the opening of two hotels in Brooklyn and Long Island City, N.Y. The newly built hotels are the latest to open as part of the brand's multi-year transformation, featuring updated room and public space designs, as well as the new Comfort logo. The Comfort brand has more than 300 properties in its pipeline, 80 percent of which are new construction. More than 60 Comfort hotels are expected to open this year in major cities across the United States, including Dallas; Nashville, Tenn.; Pitts...
IHG Signs With Omenport Developments for Hotel Indigo® London – Clerkenwell
May 29, 2019
IHG® (InterContinental Hotels Group), one of world's leading hotel companies has signed a Management Agreement with Omenport Developments Ltd for Hotel Indigo® London – Clerkenwell. The 151-room hotel will be the fifth Hotel Indigo in London and is expected to open in early 2021. Located in the heart of the city, Hotel Indigo London – Clerkenwell brings a brand defining property to IHG's pipeline. Established in 2004, Hotel Indigo is IHG's upscale boutique brand and has over 100 hotels across more than 15 countries. The brand is set to double its portfolio presence over the next three to five years and continue its g...
CoralTree Hospitality Group to Manage The Eddy Hotel in Golden, Colorado
May 28, 2019
Denver, Colo. – May 28, 2019 – Tom Luersen, president of CoralTree Hospitality Group, today announced that the company has been selected by Confluence Companies to manage The Eddy Hotel in Golden, Colo. Construction will begin shortly on the 49-room boutique hotel, which is expected to open summer 2021. "This is an exciting new project for CoralTree," said Luersen. "Golden is an incredibly vibrant community – it's truly the gateway to the Rockies. With the whitewater playpark downtown, an emerging food scene and a welcoming spirit, it's the perfect place for a hotel like The Eddy. We are thrilled that Confluence select...
Noble Breaks Ground on Element by Westin in West End Neighborhood of Nashville, Tennessee
May 28, 2019
ATLANTA, May 28, 2019 -- Noble Investment Group ("Noble") today announced they have broken ground on the Element by Westin Nashville. Located in the renowned West End neighborhood of Nashville, Tennessee, the hotel will be the brand's debut in Nashville and will open in 2020. The upscale, lifestyle hotel will be a part of the vibrant 19-acre mixed-use development, oneC1TY. Anchored by Vanderbilt University, three major medical centers and foremost health care providers, significant corporate headquarters and Nashville's famous Music Row, the hotel will be prominently located in one of the fastest growing markets in the...
Radisson Hotel Group Celebrates Opening of Radisson Blu Forest Manor Shanghai Hongqiao in Shanghai, China
Radisson Hotel Group | May 28, 2019
Shanghai, China - May 28, 2019 - Radisson Blu, the upper upscale hotel brand that delivers personalized service in stylish spaces, has continued to expand its portfolio in China with the opening of an urban resort in Shanghai. Situated in the city's rapidly-expanding Hongqiao business district, Radisson Blu Forest Manor Shanghai Hongqiao is built from a blueprint based on the concept of Royal Spanish courtGuests are welcomed into a marble lobby illuminated by chandeliers, and the 439 rooms and suites are similarly striking, with refined furnishings and amenities. Also, they will be able to enjoy picturesque views of the resort's pools a...
Hotel Motel Inc. Breaks Ground on 104-Room Cambria Hotel Fort Lauderdale Beach in Southern Florida
Cambria Hotels | May 28, 2019
ROCKVILLE, Md., May 28, 2019 -- Construction has begun on the Cambria Hotel Fort Lauderdale Beach, franchised by Choice Hotels International, Inc. (NYSE: CHH) and developed by Hotel Motel Inc. The hotel will be within short walking distance to public North Beach access when it opens in 2020. This is Cambria Hotels' second hotel in the city, joining the Cambria Hotel Fort Lauderdale Airport South & Cruise Port. The 104-room Cambria Hotel Fort Lauderdale Beach, which will be located at 2231 N Ocean Blvd., will offer ocean views and convenient access to The Strip, the city's popular waterfront promenade with dining and retail o...
Sheraton Hotels & Resorts Unveils Sheraton Grand Tbilisi Metechi Palace Following Full-Scale Renovation
Sheraton Hotels & Resorts | May 28, 2019
Sheraton Hotels & Resorts, Marriott International's most global brand, has unveiled the transformation of the iconic Sheraton Grand Tbilisi Metechi Palace following a full-scale renovation. Carrying the Sheraton Grand designation, the property truly delivers on the heritage and sophisticated design that characterises these hotels. "Following a stunning transformation of this iconic property, we are very proud to welcome the Sheraton Grand Tbilisi Metechi Palace into this distinguished set of hotels," said John Licence, Vice President Premium and Select Brands Europe at Marriott International. "The designation of the Sheraton Grand stat...
Atlanta’s Historic Candler Building Begins New Life as 265-Room Boutique Hotel in July Under Hilton’s Curio Collection
May 23, 2019
May 24-- May 24--It was once Atlanta's tallest building, a 17-story beaux-arts tribute to Coca-Cola founder Asa Candler. For 100 years it has been home to the city's "finest baths" (back when that was a selling point), the law offices of famed attorney Johnnie Cochran, and a bank vault rumored to have briefly held the formula for Coke. But in two months, the Candler Building, with its grand marble staircase, brass gargoyles, detailed friezes and Tiffany windows, will become Atlanta's newest boutique hotel. SEE MORE: CANDLER BUILDING Take a sneak peek inside the new Candler Hotel Atlanta AJC Flashback Photos: At...
Rocco Forte Hotels Unveils the New Hotel de la Ville Following Extensive Renovation of Historic 18th Century Palazzo
Rocco Forte Hotels | May 23, 2019
LONDON, May, 23 2019 -- Rocco Forte Hotels has unveiled their second hotel in Rome today, Hotel de la Ville, following an extraordinary renovation to the historical 18-century palazzo. Located in the heart of Rome, atop the Spanish Steps with sweeping views of the Eternal City, the hotel's enviable setting is a destination in itself. The 104 well-appointed rooms and suites are amongst the most elegant and spacious in Rome, while the signature suites offer unrivalled panoramic views of the city from their large terraces. The magnificent Suite de la Ville located on the 8th floor, and accessible by a private elevator, is the hotel'...
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