Hotel
NorthStar, Chatham JV to Buy Hotels for $959M
A joint venture of Chatham Lodging Trust and Cerberus Capital Management is selling, and a JV of Chatham and NorthStar Realty Finance Corp. is buying, the lion’s share of a 51-hotel portfolio in a transaction worth $1.3 billion.
Hersha Hospitality to Pick Up Parrot Key Hotel in Key West for $100M
Hersha Hospitality Trust has entered into an agreement to purchase Parrot Key Hotel & Resort in Key West, Fla.
International: Carlson Rezidor Holds Largest Hotel Pipeline in Africa
According to a recent W Hospitality Group report, Carlson Rezidor holds the largest hotel pipeline in Africa.
Hyatt, LATAM JV to Develop 10 Hotels in Central America, Mexico
An affiliate of Hyatt Hotels Corp. has entered into a master development agreement with LATAM Hotel Corp. to develop 10 Hyatt Place hotels in Central America and Mexico, and Hyatt affiliates have entered into franchise agreements with LATAM for the first five hotels.
Concord Hospitality Sells 13-Hotel Portfolio for $240M
Concord Hospitality Enterprises has sold a portfolio of 13 premium-branded, select-service hotels to companies owned by a global investment fund for approximately $240 million in an all-cash transaction.
PM Hospitality Opens First Westin in Delaware
Wilmington, Delaware’s skyline is altered and its stature gets a boost with the opening of The Westin Wilmington. The brand new 180-room hotel, developed by a joint venture consisting of Buccini/Pollin Group and Westport Capital and managed by PM Hospitality Services, marks the debut of the Westin brand in the State of Delaware.
MGM, Hakkasan Group Form JV Hotel Company
MGM Resorts International and Hakkasan Group have partnered before, but now the two companies are taking their relationship to the next level with the creation of MGM Hakkasan Hospitality, a joint venture hotel management company.
Minor Hotel Group Expands Mozambique Portfolio with Luxury Assets
Minor Hotel Group has added three hospitality projects in Mozambique to its holdings as part of its investment strategy targeting a portfolio increase of both global and Mozambican hospitality assets.
Sheraton Hotels & Resorts to Open New-Build Hotel, Conference Center in Austin Suburb
A joint venture between Hines and The Novak Bros. will develop a 224-key Sheraton hotel and conference center in Georgetown, Texas, an upscale suburb of Austin.
Soho Properties, MHP Join Hampshire Hotels to Create New Dream Hotel at Times Square
A development team comprising Soho Properties, MHP Real Estate Services and Hampshire Hotels Management has acquired 560 Seventh Ave. in Manhattan’s Times Square, which they will replace in a $300 million project with a new Dream Hotel and 20,000 square feet of luxury retail.