Hotel
CIP Sells EconoLodge Hotel
Hotel Brokers International’s member Crystal Investment Property closed the sale of a 44-key motel near Nye Beach in Newport, Ore. The final price was not disclosed.
NYC’s Chinatown Welcomes New Luxury Hotel
Chu Enterprises developed the 229-key property at 50 Bowery, which marks the first-ever Joie de Vivre getaway in Manhattan.
Historic Atlanta Hotel Lands $16M Refi
Formerly known as Cox-Carlton, the 140-key property operated under the Days Inn franchise between 1985 and 2004. Ashford Trust acquired the asset in 2015 for $26 million.
NHG Taps GM for Tampa-Area Hilton Hotel
Charles Stallings’ extensive background in hotel operations and sales recommended him for the new position. In his new role, he will be overseeing operations for the 89-key hotel.
Marriott Breaks Ground on Adaptive Reuse Hotel
The property, a former soap and candle factory, textile manufacturing facility and knitting mill, will soon join the company’s Tribute Portfolio.
Crescent Tapped to Manage Philly-Area Hilton Hotel
The 146-key hotel is adjacent to the Fort Washington Office Park, benefiting from the proximity of nearly six million square feet of Class A office space. Crescent will manage all operations of the hotel, including guest experience and food services.
BH Properties Lands $253M Loan for NYC Portfolio
New York Life Real Estate Investors provided a 25-year mortgage and mezzanine facility for three Manhattan hotels totaling 1,179 guestrooms.
Empire Resorts Unveils New York Casino Name
The 18-story, 332-key Resorts World Catskills is expected to open in March 2018. The venue is part of a $1.2 billion four-season destination in Sullivan County.
IHG Opens First Kimpton Hotel in Europe
The Kimpton brand has made its debut in Europe with the opening of a 274-key hotel located in the heart of Amsterdam. The property offers easy access to the Centraal Station rail depot and local attractions.
Caesars Launches $90M Makeover at Flamingo Las Vegas
By the end of 2017, more than half of the company’s guestrooms in Las Vegas will have been upgraded. The renovation is expected to be complete during the second quarter of 2018.