Hotel
REIT Buys Tokyo Hilton Hotel for $560M
Tokyo-listed Japan Hotel REIT Investment Corp. picked up the 453-key property in the city’s Odaiba area, marking the hotel’s second sale in 15 months.
VICI, Hard Rock to Acquire Ohio Casino for $745M
The companies will purchase the real estate and operating assets of the JACK Cincinnati Casino from JACK Entertainment in separate all-cash transactions.
Coworking Checks Into Hotels
Multiple hospitality brands are exploring how shared work spaces might strengthen community ties and bring in additional revenue. Why not? Many lobbies are already de facto offices.
sbe, Byzantine Team on Downtown Detroit Mixed-Use
The $72 million project will redevelop a nearly century-old, 190,000-square-foot office building into a 100-key hotel, plus 70 residential units. The property reportedly will be the first hotel in Detroit’s Cass Corridor.
Marriott to Open New SpringHill Suites in GA
Stafford Hospitality owns the 104-key Marriott hotel located in the historic town of Tifton, near the Georgia Museum of Agriculture and the University of Georgia Tifton Campus.
Silicon Valley Hilton Hotel Sells for $59M
Somera Capital Management and Tyler Development Corp. picked up the 169-key property at The Pruneyard, a 27-acre mixed-use development in Campbell, Calif.
Marriott Courtyard on Hawaii Changes Hands
HFF worked on behalf of Pacifica Hotels to market the 452-key beachfront property, which comprises two connected six-story towers in the Kailua-Kona neighborhood.
New Courtyard by Marriott to Open in Raleigh
Local developer Winwood Hospitality Group owns and manages the new six-story, 105-key business hotel in Parkside Town Commons, set to debut on Thursday.
McWhinney Lands $170M Loan for Orange County Water Park
The company relied on Berkadia to secure the financing for Great Wolf Lodge, a 603-key, 105,000-square-foot indoor entertainment resort in Garden Grove, Calif.
AAM 15 Management Buys Embassy Suites in Maine
The company has acquired the 119-suite Embassy Suites by Hilton Portland. The buyer focuses on properties on the East Coast, particularly in New England.