hotel acquisition

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hotel acquisition

MCR Acquires Residence Inn By Marriott Albuquerque Airport

MCR | June 26, 2019

NEW YORK / JUNE 26, 2019 - Hot! Hot! Hot! MCR, the sixth-largest hotel owner-operator in the United States, has acquired the 110-room Residence Inn by Marriott Albuquerque Airport. Just 5 miles southeast of downtown, the property is close to many of the city’s sizzling destinations for work and play. New Mexico is known for its Hatch chiles: the carne adovada, a slow-cooked pork dish in red chile sauce, is legendary at Albuquerque’s Mary & Tito’s Café, though you’ll even find green chiles at McDonald’s! Yet these days what’s heating up the Duke City is the arrival of tech companies. Netflix recently purchased ABQ Studios, ...

Blue Sky Hospitality Acquires New Orleans Marriott Metairie and Long Island Marriott

Blue Sky Hospitality Solutions | June 24, 2019

UNIONDALE, N.Y., June 24, 2019—Officials of Blue Sky Hospitality (BSHS), one of the leading and fastest growing hotel owner/operators in the United States, today announced that the company has acquired the 220-room New Orleans Marriott Metairie at Lakeway in La., and the 615-room Long Island Marriott in Uniondale, N.Y. “The hotel cycle is maturing, which creates growth opportunities for experienced operators and investors with a contrarian approach to the industry,” said David Fincannon, COO, BSHS. “We have accumulated a substantial portfolio of managed and owned properties in just six months, and we have a substantial appetite to ...

Banyan Investment Group Acquires and Will Operate 110-Room Courtyard by Marriott Houston Pearland in Texas

Banyan Investment Group | June 20, 2019

HOUSTON, Texas, June 20, 2019 - Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today announced that it has acquired and will operate the 110-room Courtyard by Marriott Houston Pearland in Texas. “We continue to seek institutional quality assets, such as the Courtyard by Marriott Houston Pearland, in major markets with numerous demand generators,” said Andy Chopra, founding principal and chief investment officer, Banyan Investment Group. “The hotel benefits from its location within Pearland Town Center, a popular mixed-used ...

MCR Acquires Courtyard by Marriott Newark Downtown in New Jersey

MCR | June 20, 2019

NEW YORK / JUNE 20, 2019 - Sweet dreams are made of this: MCR, the sixth-largest hotel owner-operator in the United States, has acquired the 150-room Courtyard by Marriott Newark Downtown. The pitch-perfect property is just steps from the Prudential Center, one of New Jersey’s premier venues for live music. The Courtyard by Marriott Newark Downtown made history when it debuted in 2012 as the city’s first new hotel in 40 years — and its prime location will help concertgoers get into the groove this summer. Hang tough with New Kids on the Block (along with fellow 90s sensations Salt-N-Pepa, Tiffany, Debbie Gibson and Naughty by Nature)...

Hospitality Lodging Systems Adds 12 Properties to Management Portfolio

June 20, 2019

June 20, 2019 - Atlanta-based Hospitality Lodging Systems (HLS) continues to grow its network of hotels with the addition of 12 properties so far in 2019 – 7 under the Budgetel brand, three under the AmeriVu brand, and 2 under the Haven Hotel brand: The 7 Budgetel brand hotels are in: Raleigh, NC with 128 rooms Montgomery, Alabama with 108 rooms Birmingham, Alabama at the airport with 100 rooms Fairfield, Alabama with 75 rooms Huntsville, Alabama with 63 rooms Pine Mountain, Georgia with 61 rooms Butler, Missouri with 42 rooms The 3 AmeriVu brand hotels are in: Wilmington, NC with 113 rooms Wolcott, Conn...

Excel Group Acquires Courtyard by Marriott Springfield in Virginia

Excel | June 17, 2019

ARLINGTON, Va., June 17, 2019 -- Arlington, VA-based real estate investment firm Excel Group has announced its recent acquisition of the 191-key Courtyard by Marriott Springfield located in the Springfield, VA. "We are excited to acquire this newly renovated hotel in Springfield, VA – a burgeoning market just 13 miles from downtown Washington DC," remarked managing partner Shoham Amin. "This transaction represented a unique opportunity to acquire a premium-branded select-service hotel in a high-growth DC metro submarket, in close proximity to Fort Belvoir and the new 625,000 SF TSA Headquarters slated to open in 2020." This purchase r...

OTO Development Enters Atlanta Market With New Management Contract for Hyatt House Atlanta/Downtown

OTO Development | June 13, 2019

SPARTANBURG SC (June 13, 2019) – OTO Development, part of The Johnson Group, has added Hyatt House Atlanta/Downtown to its managed portfolio. The Spartanburg SC-based hospitality company develops and operates its own set of select-service hotels while also lending expertise to ownership groups ranging from publicly traded REITs to private equity firms to high net worth individuals. The most recent third-party management contract, signed earlier this month, represents OTO’s entry into the dynamic Atlanta market. “Metro Atlanta offers exciting opportunities to expand our managed portfolio,” says Corry Oakes, President/CEO of OTO D...

Crescent Hotels & Resorts Adds DoubleTree by Hilton Hotel Boston – Bedford Glen

Crescent Hotels & Resorts | June 13, 2019

Boston, MA (June 13, 2019) – The DoubleTree by Hilton Hotel Boston - Bedford Glen is now being managed by Crescent Hotels & Resorts. Crescent Hotels & Resorts is an award winning, nationally recognized operator of major hotels and resorts throughout the United States & Canada. The 281-room hotel is set on 24 acres of wooded grounds centrally located next to a range of businesses and nearby historic towns, just 18 miles from Boston. Guests have the option to choose a spacious guestroom or upgrade to a suite. “As an award-winning Hilton manager, we will maximize the potential of this great property.” said Michael George,...

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