hotel acquisition
Sonnenblick-Eichner Company Arranges $30,500,000 of First Mortgage Financing for Little Palm Island Resort & Spa, Florida Keys, Florida
Sonnenblick-Eichner Company | January 12, 2021
Beverly Hills, California – – Sonnenblick-Eichner Company announced today that it has arranged $30,500,000 of interim first mortgage financing for Little Palm Island Resort & Spa, an iconic 30-suite, full service, luxury resort located in Little Torch Key, Florida. The loan refinanced a recently matured fixed rate loan and closed within 30 days of application. Mast Capital and RWN Management provided the financing. The Resort is located on an exclusive 4.12-acre private island in the world famous Florida Keys. Accessibility to the Resort is by private boat from Little Torch Key, located approximately 3 miles to the north. Am...
McWhinney Acquires Hotel Indigo in Downtown Denver
December 21, 2020
DENVER, Colo. – December 21, 2020 – McWhinney, a Colorado-based real estate investor and developer with expertise in commercial, multifamily, hospitality, residential and mixed-use assets, is excited to announce it has purchased Hotel Indigo Denver Downtown in Denver’s LoDo neighborhood. Terms of the transaction were not disclosed. The sale was brokered by Cushman & Wakefield Global Hospitality. Located in the heart of downtown just steps from Denver Union Station, Hotel Indigo Denver offers 180 rustic-luxe guestrooms – all featuring hardwood floors, polished concrete ceilings, sliding barn doors and sweeping urban or mo...
Service Properties Trust Completes Transfer of 12 Additional Hotels to Sonesta
Service Properties Trust | December 16, 2020
NEWTON, Mass. -- December 16, 2020 -- Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the previously announced transition of branding and management for 12 hotels to Sonesta International Hotels Corporation, or Sonesta. This includes three hotels from InterContinental Hotels Group, plc, or IHG, located in Canada and Puerto Rico and nine hotels from Marriott International, Inc., or MAR. SVC entered short term agreements with Sonesta to manage these 12 hotels that expire on December 31, 2021. The three hotels transitioned from IHG are now operated under the Royal Sonesta and Sonesta ES Suites brands. Th...
Service Properties Trust Completes Transfer of 99 Hotels to Sonesta
Service Properties Trust | December 2, 2020
NEWTON, Mass.---Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the transition of branding and management for 99 hotels to subsidiaries of Sonesta International Hotels Corporation, or Sonesta, from InterContinental Hotels Group plc, or IHG. Three additional hotels located in Canada and Puerto Rico will transition to Sonesta in mid-December and one hotel located in Atlanta, GA will continue to be managed by IHG. SVC entered short term agreements with Sonesta to manage the 99 hotels that expire on December 31, 2021. These 99 hotels are now operated under the Royal Sonesta, Sonesta and Sonesta ES Suites ...
Chatham Lodging Trust Completes Sale of Residence Inn by Marriott San Diego Mission Valley for $67 Million
Chatham Lodging Trust | December 1, 2020
WEST PALM BEACH, Fla., December 1, 2020—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, has completed the sale of the 192-room Residence by Marriott San Diego Mission Valley for $67 million, or approximately $349,000 per room, to the San Diego Housing Commission (SDHC). Proceeds from the sale will be used to repay the $27 million mortgage on the hotel. After sales related expenses, including Marriott termination fees, remaining net proceeds of approximately $38 million will be used to repay credit facility borrowings. ...
Extended Stay America Welcomes Seven New Properties
Extended Stay America, Inc. | November 24, 2020
Charlotte, NC, November 24, 2020— Extended Stay America, Inc., the largest mid-priced extended-stay hotel brand, announced today the addition of seven properties through franchise conversions. The properties are all owned by New York-based Three Wall Capital (TWC) and will be operated by Dallas, Texas-based Aimbridge Hospitality, the nation’s largest management company. The properties include: Extended Stay America Virginia Beach, Virginia Beach, Virginia Extended Stay America Newport News – Yorktown, Newport News, Virginia Extended Stay America Richmond – Glen Allen – Short Pump, Glen Allen, Virginia Extended Stay ...
Arbor Lodging Management Adds Marriott Chicago Northwest to Portfolio
Arbor Lodging | October 30, 2020
CHICAGO (October 30th 2020) – Chicago-based hotel management company, Arbor Lodging Management, today announced it has added the Marriott Chicago Northwest in Hoffman Estates, Illinois to its growing portfolio of third-party managed hotels. This addition brings Arbor Lodging Management’s portfolio total to 35 hotels now spanning across 15 states in 22 markets, showcasing the company’s ability to grow and gain trusted third-party management business amidst a challenging period for the hospitality industry. Arbor Lodging Management will manage all operations at the 294-room Marriott Chicago Northwest, expanding the company’s service t...
Yotel Begins Multi-Million Dollar Transition of Liaison Washington Capitol Hill Ahead of Hotel’s Debut as Yotel Washington D.C. This Fall
Yotel | March 11, 2020
WASHINGTON, D.C. (March 11, 2020) – Following the success of YOTEL in cities including New York, Boston and San Francisco, the disruptive hospitality brand will bring YOTEL’s smart design and technology to the nation’s capital with the debut of YOTEL Washington D.C. this fall. As the brand’s first-ever acquisition and transition, the hotel will move forward with branding and incorporating YOTEL’s signature technology and adaptable design as part of a multi-million dollar full property reconstruction and remodel. The property will remain open through the transition, continuing to offer guests convenient access to both Capitol Hill an...
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