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.
Hotel news in North America
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’s 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’s trendy SoHo district.
Tribute Portfolio, a collection of independent hotels and resorts from Starwood Hotels & Resorts Worldwide, Inc, has announced three new signings, bringing the brand’s footprint to 20 properties worldwide, exactly double the original growth projection for its first year.
Luxury hotel operator Fairmont Hotels & Resorts and Mota-Engil Tourismo today announced the development of a new 250-room luxury hotel and additional private residences along the Riviera Nayarit in Mexico.
Choice Hotels International, an American hospitality holding corporation based in Rockville, Maryland, in the United States, has recently celebrate the debut of two new Cambria hotel & suites projects in Chicago.
Nashville is about to gain 468 hotel rooms next to the Music City Center convention facility now that financing is set and construction nears on the first Marriott tri-branded property in the U.S.
Home2 Suites by Hilton, part of Hilton Worldwide's industry-first All Suites portfolio, has announced its newest property, Home2 Suites by Hilton Tulsa Hills.
RLJ Lodging Trust has recently announced that it successfully refinanced over $1.0 billion of debt consisting of a $400.0 million unsecured term loan, a $400.0 million revolving credit facility, $148.5 million in secured loans provided by Wells Fargo Bank, N.A., and an $85.0 million secured loan provided by PNC Bank, N.A.
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.
Starwood Hotels & Resorts Worldwide, Inc. has recently announced it will significantly expand its Element Hotels portfolio in North America.
Marriott International expands Delta Hotels and Resorts Globally with opening of first U.S. property
Delta Hotels and Resorts announced the April 21st the official grand opening of the Delta Orlando Lake Buena Vista in partnership with JHM Hotels. This is Delta’s first branded hotel in the United States and signals the global expansion of the Delta brand.
Starwood Hotels & Resorts Worldwide, Inc. has announced it has reached an agreement with Easton’s Group of Hotels to open the second Element Hotel in the Greater Toronto Area and renovate Four Points by Sheraton Toronto Airport. The eight-story Element Toronto Airport will open in summer 2018 adjacent to the seven-story Four Points Toronto Airport, which will remain open throughout the US$4 millionrenovation.
Country Inns & Suites By Carlson, the upper-mid scale hotel brand, has recently announced the opening of Country Inn & Suites By Carlson, Harrisburg West, PA in the capital city of the U.S. state of Pennsylvania. The hotel is located 20 minutes from Harrisburg International Airport at 4943 Gettysburg Road.
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.
LaSalle Hotel Properties has announced the appointment of Kenneth G. Fuller as Executive Vice President, Chief Financial Officer, Secretary, and Treasurer, effective April 25, 2016. Mr. Fuller succeeds Bruce A. Riggins, who will leave the company to pursue other opportunities. Mr. Riggins will continue to serve as the Company’s Chief Financial Officer for the transitional period.