/Tag: acquisition


Naumi Hotels Acquires Second Queenstown Hotel – Central Ridge Boutique Hotel

Naumi Hotels | July 15, 2019

London, 15July 2019 – Naumi Hotels, Singapore-based private hotel owner and operator is pleased to announce it has acquired another hotel in Queenstown – Central Ridge Boutique Hotel. This comes on the back of its recent acquisition of The Dairy Private Hotel, also located in Queenstown. “To have not just one, but now two hotels in Queenstown city centre reinforces our commitment to bringing Naumi to tourism hotspots in New Zealand. We are immensely proud to have secured this deal which will increase our brand awareness in the South Island and further bolster the Group’s growth in major cities around the world,” said Gaurang Jhun...

Rockbridge Acquires Recently Renovated 333-Room Courtyard by Marriott Philadelphia City Avenue Hotel

Rockbridge | June 3, 2019

COLUMBUS, Ohio – June 3, 2019 – Rockbridge today announced the acquisition of the 333-room Courtyard by Marriott Philadelphia City Avenue Hotel. Pinnacle Hotel Management will manage the hotel. Located close to downtown Philadelphia, the convention center, and minutes from local historic landmarks as well as St. Joseph's University, the recently renovated hotel is well-regarded and highly rated by both business and leisure travelers. "We are excited to acquire this Courtyard in a great market like Philadelphia," said Chris Diffley, Managing Director, Investment Group at Rockbridge. "We are also pleased to continue our relati...

Memories Group Takes Stake in Strand Hotel

Memories Group | May 3, 2019

Three iconic Yangon hotels and cruise ship join an expanding portfolio in Myanmar. YANGON, Myanmar (May 3, 2019) — Myanmar tourism trailblazers Memories Group announced this week that it had bought a minority share in Strand Hotel International Ltd. The US$3.19 million investment gives the Group stakes in a cruise ship and three hotels, most notably the world-famous Strand Hotel, an iconic landmark on the Yangon waterfront, which was built during the British colonial era in 1901. Strand Hotel International Ltd also includes: the 4-star Inya Lake Hotel, which was built in 1958-62 on a 27-acre lakeside property in northern Yangon; t...

Avison Young Closes 260 Million YTD 2019

Avison Young | April 11, 2019

ATLANTA – April 11, 2019 – Avison Young Hospitality Group announced today the firm closed on its 15th hotel transaction of the year with year to date sales totaling 260 million. Since 2013, the Avison Young Hospitality Group has closed 106 Marriott branded hotels, 72 Hilton branded assets, 49 IHG branded assets and 158 historic, upscale boutique, resort and other branded hotels. ...

146-Room, Limited-Service, Quality Inn Hotel Will Be Auctioned on RealINSIGHT Marketplace

RealINSIGHT Marketplace | April 9, 2019

VIRGINIA—April 10, 2019—RealINSIGHT Marketplace and Berkadia are pleased to present the Quality Inn Collinsville, a 146-room, limited-service hotel located in Collinsville, VA for your acquisition consideration. The auction will take place on the online commercial real estate sales platform, RealINSIGHT Marketplace, May 6th – May 8th. About the Property: Two Buildings Two Floors 146 Rooms Recently Renovated in 2018 This offering provides investors with the opportunity to acquire fee-simple interest in a strategically located Quality Inn hotel. Situated just off Highway 220, which connects to Roanoke to the north ...

Gayle Benson, Partners Buy New Orleans’ Hyatt Regency; 1st Local Owners of Landmark Hotel

April 4, 2019

April 05-- Apr. 5--New Orleans Saints and Pelicans owner Gayle Benson is purchasing the Hyatt Regency Hotel near the Mercedes-Benz Superdome, adding another piece of marquee downtown real estate to the growing portfolio of Benson-controlled buildings in the area. The deal, which is set to close Friday, puts the Hyatt in local hands for the first time in its 43-year history and follows a multimillion-dollar renovation of the hotel that began in 2010. The terms of the deal were not disclosed, but comparable recent hotel sales suggest the purchase price could be around $300 million. Benson is buying the hotel along with two partners, longt...

Wexford Lodging Advisors & Trinity Private Equity Group Complete JV Acquisition of 138-Suite DoubleTree Suites Hotel Nashville Airport

Trinity Private Equity Group | April 3, 2019

JV to Invest $2.5 Million to Upgrade Hotel NASHVILLE, Tenn.—April 3, 2019 --Officials of Wexford Lodging Advisors, a leading hotel asset management and investment firm, and Trinity Private Equity Group, one of the nation's top alternative asset management firms, today announced the acquisition of the 138-suite DoubleTree Suites by Hilton Hotel Nashville Airport. The joint venture will invest approximately $2.5 million to upgrade the property with a targeted completion date of year's end 2019. HVMG will continue to operate the hotel. "Nashville remains one of the strongest and fastest-growing markets in the nation for hotel demand...

AVR Realty Affiliate Acquires AC Hotel San Jose for $95.4 Million

March 31, 2019

April 01-- Apr. 1--SAN JOSE -- An affiliate of AVR Realty, based in Yonkers, a city about 11 miles from Manhattan, has bought the AC Hotel San Jose, which is a Marriott brand with a European flair that caters to millennial customers. "This is a very strong hotel market in downtown San Jose that AVR Realty is buying into," said Alan Reay, president of Irvine-based Atlas Hospitality Group, which tracks the lodging market in California. "Downtown San Jose is a market where demand exceeds supply." AVR San Jose Downtown Hotel, the AVR affiliate, paid $95.4 million last week to buy the hotel, according to Santa Clara Count...

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