acquisitions
Hotel Equities Promotes Dan Block to SVP of Operations
Hotel Equities (HE) | June 27, 2023
ATLANTA – June 27, 2023 – Hotel owner, operator and developer Hotel Equities (“HE”) is delighted to announce the promotion of Dan Block to Senior Vice President of Operations. In this expanded role, Block will oversee a diverse, multi-branded portfolio of hotels across the United States, driving operational excellence and ensuring outstanding guest experiences. Block will report directly to HE’s President of Hotel Operations, Al Smith. Joining HE in March 2022 through the Greenwood Hospitality partnership, Block held the position of Vice President of Operations, overseeing a diverse collection of lifestyle and full-service hotels. ...
Sensacional! City ID Acquires Historic Palace Baronesa in Lisbon, Portugal
City ID | June 1, 2023
Amsterdam, June 1, 2023 - City ID is continuing its international roll out. The transformation of a historic palace into an apartment hotel in the center of Lisbon is set to become City ID’s sixth location and one of its flagship properties. “After our locations in Amsterdam, London and Dublin, City ID is expanding into Southern Europe with this great acquisition in Lisbon. We will maintain and respect the heritage and features of the fantastic historic building, whilst creating a future proof and sustainable structure. We are thrilled with this new milestone for our international roll out and we are looking forward to the realization ...
Travel and Tourism Sector Deal Activity Down 40.7% YoY in Q1 2023, Finds GlobalData
GlobalData | April 17, 2023
A total of 179 deals* were announced in the global Travel and Tourism sector during the first quarter (Q1) of 2023, which is a 40.7% decline compared to the announcement of 302 deals during the same period in 2022, according to GlobalData, a leading data and analytics company. All the deal types under coverage witnessed a considerable year-on-year (YoY) decline in deal volume in Q1 2023. The numbers of merger & acquisitions (M&A), venture financing, and private equity deals fell by 42.9%, 29.4% and 50% during Q1 2023 compared to Q1 2022, respectively. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in t...
Excel Group Acquires Hampton Inn & Suites Yonkers, New York
Excel Group | December 13, 2022
ARLINGTON, Va.--Arlington, VA – based real estate investment firm Excel Group recently completed the acquisition of the 150-key Hampton Inn & Suites Yonkers, NY, located 17 miles away from New York City. The asset benefits from a strategic location in the center of a mixed-use complex that includes two major hospitals, medical offices, corporate offices, industrial manufacturing, and retail outlets. The local market has seen significant demand growth over the past 5 years including the development of Lions Gate film studios, which will bring ~1 Million square feet of studio and office space to Yonkers in 2023 (largest TV production stud...
Commonwealth Hotels Acquires Residence Inn Houston-West University and Courtyard by Marriott Houston-West University
Commonwealth Hotels, LLC | December 12, 2022
COVINGTON, Ky., Dec. 12, 2022 -- Commonwealth Hotels is excited to announce the acquisition of the Residence Inn Houston-West University and the Courtyard by Marriott Houston-West University. Both hotels are centrally located in the Greenway Plaza- West University area, minutes away from Lakewood Church, HRG Park, the Houston Galleria, Rice University, and numerous upscale restaurants and nightlife. "It's an exciting time to enter the Houston market and we are excited to add these additional hotels to the Commonwealth portfolio," Jennifer Porter, Chief Operations Officer, said. "We believe with our rapidly ...
Braintree Group Acquires the DoubleTree by Hilton in Bend, Oregon
Braintree Group | December 12, 2022
Boise, ID, December 12, 2022 — Braintree Group, a privately held, vertically integrated, national real estate development and investment firm, announced today it acquired the DoubleTree by Hilton Hotel Bend, located in Bend, Oregon. The 117-room property features an indoor swimming pool, fitness center, business center, and three meeting rooms totaling 2.327 square feet of meeting space. It is located right off US Route 97 in the heart of downtown Bend, Oregon. Bend is known for its scenic setting and year-round recreational activities. Guests will enjoy being within walking distance of downtown’s unique boutique shops, restaurants, ba...
A Flurry of Hotel Tech Company Mergers and Acquisitions Marks the End of 2021
Fran Worrall | December 2, 2021
By Fran Worrall Since early 2020, the hospitality sector has witnessed a sea change. The worldwide disruption triggered by the COVID-19 pandemic forced almost every technology company in the industry to review their portfolios, reassess their strategies and redirect resources into areas with the greatest growth potential. Some businesses became targets for opportunistic deals, while others struggled to operate in ‘new normal’ mode. Yet for companies with solid balance sheets and a willingness to take calculated risks, the pandemic provided unprecedented opportunities for growth through mergers and acquisitions. Mergers enabled some ...
Benchmark Pyramid Adds 34 Hotels to Management Portfolio
Benchmark Pyramid | November 18, 2021
BOSTON and THE WOODLANDS, Texas – November 18, 2021 – Benchmark Pyramid has added 34 hotels to its management portfolio in recent months, as the company sees a surge of demand across all areas of its business in both acquisitions and new management contracts. The new properties in the U.S. include both select- and full-service brands by Marriott, Hilton and IHG, and range in location from Michigan to Texas. In Europe, additions to the portfolio have included three English properties: Staverton Estate in Daventry, Yotel in Manchester, and London EDITION in the capital. Benchmark Pyramid has also taken on new assignments in Spain’s Mallo...
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