Hotel
Chesapeake Lodging Trust Nabs $60M Loan
Relying on two key Manhattan properties as collateral, Chesapeake Lodging Trust has obtained a $60 million loan through Wells Fargo Bank N.A. The two-year term loan’s structure is multi-faceted, to say the least.
Pittsburgh Penguins, University of Pittsburgh Plan for Sports Complex in Cranberry
Adriana Pop, Associate Editor The Pittsburgh Penguins along with the University of Pittsburgh Medical Center (UPMC) are planning a joint practice rink and sports medicine complex in Cranberry. According to the patch.com, the proposed 150,000-square-foot complex would be located in the Summit of Cranberry Woods business park off Route 228, near Hilton Garden Inn. Penguins […]
North Las Vegas Welcomes SpringHill Suites by Marriott
By Alex Girda, Associate Editor For North Las Vegas, any bit of good news is welcome in market that continues to struggle. Recently SunWest Commercial provided a breath of fresh air in the form of a 94-key SpringHill Suites by Marriott, the first new local hotel in more than four years. Located near Interstate 15 […]
Wheelock Receives $525M in Commitments for First Fund
The private real estate investment firm says it expects to use the money on a wide range of real estate investments throughout the U.S., from single assets such as hotels to large land deals.
Solis Announces New Five-Star Guangzhou Hotel
Solis Hotels & Resorts announced plans to build a 260-unit luxury hotel in Guangzhou, China. The Solis Guangzhou will be the company’s third property under construction in China this year.
Starwood Hotels Celebrates Passing 100-Hotel Mark in China with Plans for Another 100
Starwood Hotels & Resorts Worldwide, one of the leading international hotel and leisure companies, celebrated an important milestone, the passing of the 10o-hotel mark in its second-largest market outside the United States.
Palace Hotel Tokyo Aims to Bring New Brand of Luxury to Japanese Capital
The city of Tokyo gained a new addition to its hospitality market with the opening of the Palace Hotel Tokyo.
Lowe Enterprises Buys Houston's Hotel Derek
The Hotel Derek, a 314-room independent boutique hotel in Houston’s Galleria area, has been acquired by Lowe Enterprises Investors on behalf of a national hotel investment venture it formed last year with Guardian Life Insurance Co. of America and a subsidiary of Allstate Insurance Co.
Construction Starts on $172M Marriott Tower in Downtown L.A.
Encompassing Marriott’s Courtyard and Residence Inn brands within a single 23-story tower, the $172 million project will target visitors to the Los Angeles Convention Center when it opens in the summer of 2014.
Sunstone Hotel Investors to Purchase Hilton Garden Inn Chicago Downtown
By Gabriel Circiog, Associate Editor Sunstone Hotel Investors Inc. has entered into a purchase and sale agreement to acquire the Hilton Garden Inn Chicago Downtown/Magnificent Mile for a gross purchase price of $91.75 million. The 357-room hotel, located at 10 E. Grand Ave. in downtown Chicago, is expected to generate around $4.1 million of EBITDA […]