Hotel
Is It Time for a Change?
Does your property need an update? Or have you recently completed some construction? This month, Commercial Property Executive and Kingsley Associates partnered to find out what tenants think of renovations.
Marriott International Debuts in Mali
Close to the Modibo Keita International Airport, the hotel features 27 Sheraton Club rooms and 32 suites. The opening of Sheraton Bamako Hotel marks Marriott’s first property opened in Mali.
LTD Hospitality Opens Renovated Holiday Inn in Virginia
The company has revamped the 183-key Newport News hotel it acquired in 2016, transforming it into an IHG property.
Apple Hospitality Expands AZ Portfolio With $44M Phoenix Buy
Developed by Mortenson Construction and designed by PK Architects, the 210-key Hampton Inn & Suites by Hilton Phoenix Downtown marks the REIT’s 12th hotel property in the state.
Pittsburgh Embassy Suites Changes Hands for $25M
The sale of Embassy Suites Pittsburgh Airport hotel in Coraopolis was brokered by Marcus & Millichap, equating to a price of $112,108 per key.
L+R Enters U.S. Hotel Market
The company purchased the 283-key Hotel MdR—a DoubleTree by Hilton Hotel in West Los Angeles, which underwent extensive renovations and a repositioning in 2014.
Starwood Capital Group to Sell 14 UK Hotels for $1B
Foncière des Régions will acquire the 2,638-key portfolio, which consists of four- and five-star properties in major cities in England, Scotland and Wales.
Scottsdale Plaza Resort in AZ Receives $64M Refinancing
The property’s owners will use the proceeds to retire an existing $57.2 million CMBS loan from JPMorgan Chase, which they secured in 2006.
Hilton Names New Global Luxury & Lifestyle Head
Martin Rinck, formerly executive vice president and area president, Asia Pacific, with Hilton, comes to the position with 30 years of experience in the hotel industry.
CBRE Arranges $33M in Financing for Hyatt Hotel
Phoenix Development Partners used the loan to acquire and renovate the 301-key property located in Deerfield, Ill., off the interchange between interstates 94 and 294.