hotel portfolio
Flynn Properties and Värde Partners Acquire 80% Interest in 89 Select Service and Extended Stay Hotels
Flynn Properties Inc. | November 21, 2022
SAN FRANCISCO & MINNEAPOLIS (November 21, 2022) – Flynn Properties Inc., owner of commercial real estate, luxury resorts and select service hotel properties in America and abroad, in a joint venture with Värde Partners, a leading global alternative investment firm, today announced that it has acquired an 80% joint venture interest in 89 select service and extended stay hotels in a $1.1 billion implied total enterprise value transaction from affiliates of Highgate and Cerberus Capital Management, L.P. (“Cerberus”). With properties located throughout the United States, the portfolio comprises 58 Marriott-branded hotels, 24 Hilton...
Interstate Hotels & Resorts Launches New Corporate Identity as Aimbridge EMEA
October 3, 2022
Interstate Hotels & Resorts – the international division of Aimbridge Hospitality – has today launched a new corporate identity, debuting an Aimbridge global identity as the ‘Aimbridge EMEA’ division, setting the foundations for future growth beyond the UK and Europe. The existing Interstate Hotels & Resorts portfolio, which has operated as Aimbridge Hospitality’s international division since 2019, comprises of 114 properties across the UK and Europe and includes brands such as Marriott, Hilton, IHG and Accor, as well as independent hotels. The portfolio will now form Aimbridge’s EMEA division, headed up by David J. ...
NewcrestImage & Hospitality Capital Partners Acquire 16 Hotel Portfolio In Joint Venture
September 22, 2022
A joint venture of NewcrestImage and Hospitality Capital Partners (HCP) has reached definitive agreement to acquire 16 Marriott-branded hotels with a total of 2,155 rooms in nine states. The portfolio includes 13 Courtyard and three Residence Inn properties located in Georgia, Massachusetts, North Carolina, New York, Oklahoma. Pennsylvania, South Carolina, Texas, and Virginia. Closing on the transaction is expected during the fourth quarter. “This acquisition affirms our high expectations and high confidence in hotel investments, both near term and long term,” explained Mehul Patel, Managing Partner and CEO of NewcrestImage. “...
Marriott International Poised to Expand Asia Pacific Luxury Hotel Portfolio With 14 Expected Additional Properties by End of 2023
Marriott International, Inc. | September 20, 2022
Marriott International, Inc. today announced it expects to open 14 additional luxury properties in Asia Pacific by the end of 2023. The planned additions highlight the strategic growth of Marriott International's luxury hotel portfolio in the region, where it currently operates 156 luxury properties. Across 13 countries and regions in Asia Pacific, Marriott International’s portfolio of dynamic luxury brands continues to create bespoke experiences for today’s luxury traveler in ever popular cities including Tokyo and Melbourne, and is ready to bring these experiences to emerging destinations such as Jeju and Jiuzhaigou. With a collectio...
Noble Acquires Fourteen-Asset Marriott, Hilton, and Hyatt Hotel Portfolio
Noble Investment Group | August 16, 2022
ATLANTA, GA (August 16, 2022) – Noble Investment Group (“Noble”) today announced the acquisition of a fourteen-asset Marriott, Hilton, and Hyatt hotel portfolio. Noble will invest in physical enhancements across the portfolio while optimizing operations to drive market share and increase profitability. “Since the second quarter of last year, Noble has invested more than $1.5 billion across the United States in 40 hotels with approximately 6,000 rooms as we continue to capitalize on the thematic opportunity in travel and hospitality,” said Noble’s CEO, Mit Shah. “The acquisition of these premium branded hotels is consistent...
Wolfgramm Capital Acquires Avatar Hotel Group Portfolio and Management Company
Hodges Ward Elliott | February 9, 2022
DALLAS, Feb. 9, 2022 -- Hodges Ward Elliott ("HWE"), the premier boutique real estate capital markets advisor, announced it has arranged the fee-simple sale of the entire hotel portfolio for Avatar Hotel Group ("Avatar"), comprised of three select-service hotels in Texas with 280 rooms in total, to Wolfgramm Capital. Wolfgramm Capital also purchased and assumed Avatar's management company. In addition, HWE negotiated a separate transaction on behalf of Avatar selling a nearly three-acre development site in Plano, Texas pre-approved for a Home2 Suites development, to another buyer. An HWE team led by Austin Brooks advised the selle...
Avison Young Hospitality Group Closes Marriott Sales
Avison Young | August 18, 2021
ATLANTA – August 18, 2021 – Avison Young announced today it has successfully closed the sale on four Marriott Courtyards and five Springhill Suites. The properties were located from the pacific northwest, Midwest, and eastern seaboard states. The brokers involved in the closings were Brad Sinclair, Andy Broad and Michael Bernath. Keith Thompson said, "These closings represent a continued investment trend into hospitality and the hotels ranged from cash flowing assets to closed hotels all with large required pips. Most importantly they were all priced on 2019 performance levels."...
Avison Young Hospitality Group Portfolio Sale
Avison Young | August 11, 2021
ATLANTA – August 11, 2021 – Avison Young announced today it successfully represented a publicly traded hotel company in the sale of a Twenty Property Portfolio. This Marriott and Hilton-branded portfolio included properties covering 13 states nationwide and sold for $211,000,000. The buyer was a West Coast-based family office who was looking to add these premier select-service properties to its core assets. The brokers involved in the sale were Andy Broad, Brad Sinclair and Michael Bernath. The portfolio properties included the Hilton Garden Inn Dallas Allen - Allen, TX.; Hampton Inn & Suites Allen - Allen, TX.; Hilton Garden In...
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