Al Rayyan Tourism Investment Company (ARTIC), the international hotel investment and hospitality subsidiary of Al Faisal Holding Company in¬†Qatar¬†has acquired the Viceroy Miami luxury boutique hotel and will now convert the property into a W hotel to be renamed W Miami.
Ashford Hospitality Trust,¬†a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry in upper upscale hotels, has recently announced that it has entered into a definitive agreement to sell a 5-hotel, 1,396-room portfolio of select-service hotels for US$142 million in cash (US$102,000 per key) to Noble Investment Group.
Provenance Hotels Partners Fund I (PHPF I) has¬†announced its acquisition of the Old No. 77 Hotel & Chandlery in New Orleans.
Commerz Real‚Äôs open-ended real estate fund hausInvest as part of its strategy to further expand its hotel investment portfolio. Its latest acquisition is the newly completed 11 Howard hotel, a 221 room boutique hotel on Howard Street in New York‚Äôs trendy SoHo district.
AccorHotels has cleared all antitrust approvals in relevant jurisdictions, satisfying one of the closing conditions of the pending acquisition of Fairmont Raffles Hotels International.
HNA Tourism Group Co., Ltd., a division of HNA Group Co., Ltd., a Fortune Global 500 company with operations across aviation, tourism, hospitality, finance, and online services among other sectors, and Carlson Hospitality Group, Inc. today announced they have entered an agreement, for the acquisition of Carlson Hotels, Inc.
A joint venture between¬†InSite Group,¬†a boutique real estate investment and development company founded in 1996 and based in South Florida,¬†and the New York-based EL Group has acquired the historic 93-room Sagamore Hotel, located in the heart of world-famous South Beach,¬†a neighborhood in the city of Miami Beach, Florida, United States.
Following the acquisition of the Meli√° Berlin, Union Investment has secured another high-yield hotel property by Spanish hotel brand Meli√° for one of its institutional real estate funds.
Hispania, the Spanish REIT, has acquired four hotels in the Canary islands through the acquisition of the debt associated to them.
Xenia Hotels & Resorts sells DoubleTree By Hilton Washington D.C. for $65 million. The price represents a 15.7x multiple on the hotel's 2015 EBITDA and a 5.5% capitalization rate on 2015 net operating income. In addition to the purchase price, the company retained the approximately $3.1 million balance in the hotel's capital expenditure reserve account.
An Oxford Capital Group, LLC¬†led venture with Angelo, Gordon recently announced the¬†$315 million¬†sale and 25 year lease-management back of LondonHouse Chicago, at the corner of North Michigan Avenue and Wacker Drive, to¬†Germany's¬†Union Investment Real Estate.
Marriott International¬†and Starwood Hotels & Resorts Worldwide have¬†recently¬†announced that at separate special stockholder meetings the stockholders of both companies approved proposals relating to Marriott‚Äôs acquisition of Starwood.
QG Africa Hotel LP, a Mauritius-based fund managed by QG Investments Africa Management Ltd, a company of the Quantum Global group, has acquired 100% interest in the InterContinental Hotel Lusaka from Kingdom Hotel Investments for a gross consideration of USD 35.9 million.
JLL's Hotels & Hospitality group has advised Portuguese Sodim SGPS SA on the sale of the five-star, 150-bedroom Hotel Villa Magna, Madrid, Spain, to Turkish Doğuş Group.
Private equity investor¬†Actis¬†has¬†announced the sale of its minority stake in Plateno Hotel Group (Plateno) to Shanghai JinJiang International Hotels Development Co. LTD (JinJiang Hotels), a Shanghai A share listed subsidiary of the Chinese state-owned enterprise JinJiang Group.
American Realty Capital Hospitality Trust acquires 6 Hotels from Summit Hotel Properties for $108.3 Million
American Realty Capital Hospitality Trust, Inc. recently¬†announced that it has completed its previously announced acquisition of six hotels totaling 707 rooms for a purchase price of$108.3 million¬†from Summit Hotel Properties, Inc., a publicly-traded hotel real estate investment trust.
Starwood Hotels & Resorts Worldwide, Inc. announced on February 15, 2016, that it has closed on the sale of Hotel Imperial, a Luxury Collection Hotel, Vienna to Al Habtoor Investment - the investment arm of UAE conglomerate Al Habtoor Group for $78.8 million USD. As part of the transaction, all rooms and suites of the iconic hotel will be renovated over the next four years. Hotel Imperial will continue to operate as part of The Luxury Collection brand under a new long-term management agreement.
Moody National REIT II, Inc. (REIT II) announced in early February that it has entered into an agreement to purchase the Marriott Springhill Suites Hotel¬†in Seattle, Washington for US$74.1 million, excluding closing costs.
Minor Hotel Group (MHG),¬†owner and operator of hotels and resorts in 22 countries across¬†Asia Pacific, the¬†Middle East,¬†Europe,¬†South America,¬†Africa¬†and the Indian Ocean, today announced¬†completion of the final stage of its acquisition of¬†Tivoli Hotels & Resorts, a well-known¬†Portugal-based brand with 14 properties across¬†Portugal¬†and¬†Brazil.