Hotel
On the Market: 5 Small-Business Listings for April
This month’s listings include a historic mixed-use building with a ground-floor nightclub and restaurant and a large warehouse space in a desirable Fountain Valley, Calif., location.
RLJ, FelCor to Merge in $1.2B All-Stock Deal
The move, which would create the third-largest pure-play lodging REIT, with a total enterprise value of $7 billion, was deemed a “head scratcher” by at least two analysts.
Interface Introduces First Vinyl Tile Collection
The company known for its carpet tiles introduced a luxury option which can be combined with its soft carpet products for a texturally rich design.
Heritage Hotels Adds the Inn and Spa at Loretto to its Portfolio
The hotel brand, specializing in culturally distinct hotels in New Mexico, acquired the 42-year-old resort in partnership with an investor group led by Randy Talbot.
Omni Frisco Hotel Opens Doors
The 16-story, 300-key Omni is located within the 91-acre The Star campus, which is anchored by the Dallas Cowboys World Headquarters and Ford Center.
Economy Watch: Hotels Enjoy a Bang-Up First Quarter
Hotel occupancy, average daily rate and revenue per available room all gained ground in the first quarter of 2017, STR recently reported, but an increase in development for the quarter could put pressure on pricing power.
HFF Lends a Hand in Orlando Hotel Deal
HFF secured a five-year acquisition and renovation loan on behalf of the new owner and represented the seller in the transaction of Holiday Inn Orlando SW – Celebration Area.
McSam Hotel Group Grabs 292 Fifth Ave. Raw Gem
Developer and businessman Sam Chang acquired a vacant Manhattan site in a $42.4 million all-cash sale. Cushman & Wakefield arranged the long-anticipated escrow.
1 Hotels Debuts in Brooklyn
The 194-key, sustainability conscious property chose Earth Day for its grand opening. This is the flag’s first ground-up build, flagship property in the area.
Meraas to Debut 4 New Hotel Brands in Dubai
The company is not alone in its bid to enhance the city’s hospitality market, as the metro sports the largest guestroom pipeline of any city in the world.