Hotel
Marriott to Open New SpringHill Suites Hotel
Marriott International is set to open a 103-key SpringHill Suites by Marriott hotel at the formerly known Indianapolis Airport Suites property.
Park Hotels & Resorts Sells 3 Assets for $166M
The disposition of the 1,098-key portfolio helps the hospitality REIT curb leverage ahead of its $2.7 billion merger with Chesapeake Lodging Trust.
Short-Term Rentals Costing States Millions: Report
A study commissioned by the American Hotel & Lodging Association contends that Airbnb’s agreements with state and local jurisdictions will cost millions in lost tax revenue.
Graduate Hotels Expands in OR
Following the June 2018 acquisition, the company has implemented major renovations in order to convert the building into a Graduate Hotels-branded property.
JV Breaks Ground on Dual-Branded Marriott Hotel
Located in an opportunity zone, the 259-key hotel will include 295,000 square feet of space and 4,200 square feet of meeting space. The property is scheduled to open in 2021.
Target Hospitality Purchases Delaware Basin Lodging Properties
The company purchased the communities from Superior Lodging, upping its portfolio by 575 single-occupancy accommodations within the Permian Basin, at the epicenter of great activity among oil and gas businesses.
India’s OYO Hotels Plans $300M US Expansion
The fast-growing, “value-chic” hospitality chain already has a presence in Atlanta, Miami and several Texas cities, and expects to enter numerous new markets over the next few years.
Pittsburgh Casino Checks In With $60M Hotel
Rush Street Gaming will break ground on the 219-key project this summer, effectively laying the groundwork for the property to become a full-service gaming resort destination.
Courtyard by Marriott in Virginia Sells for $20M
Excel Group’s purchase of the 191-key Courtyard by Marriott Springfield marks the seventh major transaction for the company in the last year.
SoCal Hotel Lands $44M Construction Loan
Acres Capital Corp. will use the financing to complete and stabilize a 233-key property in Arcadia, Calif. Le Meridien by Marriott International is set to be a four-star property.