Hotel
Lingerfelt Acquires Norfolk Waterside Marriott
The company purchased the 405-key hotel and plans on implementing a $25 million renovation program. CommonWealth Lodging Management, Lingerfelt’s hotel management affiliate, will operate the hotel.
Radisson Hotel Opens Near Charlotte Airport
Recently, the 91-key hotel underwent a major renovation. Located within a 15-minute drive from the Charlotte Douglas International Airport, the hotel can host events for up to 800 people.
Cambria Breaks Ground on SC Riverfront Hotel
The Cambria Charleston Riverview will feature 126 keys and 1,300 square feet of meeting space. Slated to open early in 2019, the hotel will be built by Freese Johnson Contractors.
Caesars to Buy Indiana Gaming Operator for $1.7B
The company, in bankruptcy not long ago, seems to see the purchase of Centaur Holdings as a safe bet. Subject to regulatory approvals and other closing conditions, the transaction is expected to close in the first half of 2018.
Davidson Expands CA Portfolio
Located in the heart of the prominent California Highway 1 corridor, the 550-key hotel spreads across a 22-acre site nestled along the historic 18-hole Del Monte Golf Course.
Hilton’s Tapestry Debuts Three New Hotels
The Troubadour in New Orleans will be a 184-key hotel situated right next to the French Quarter, within walking distance of multiple New Orleans clubs, restaurants and attractions. Hilton plans to open two more Tapestry hotels in 2018.
Hotel Construction Pipeline for US, Africa, Middle East: STR Report
The hotel market data and benchmarking firm’s October 2017 Pipeline Report saw some slowing in the U.S. hotel construction, with cities like New York, Houston, Los Angeles and Seattle seeing year-over-year decreases in construction of hotel rooms.
IHG to Open Fiji’s Largest Hotel
Crowne Plaza Wailoaloa Beach will be situated ten minutes from Nadi International Airport and will offer immediate beach access to its guests. The project is slated for completion in 2020.
CBRE Arranges IL Country Inn Hotel Deal
The asset is located along Interstate 88 in Naperville, Ill., and offers convenient access to one of the largest office concentrations outside Chicago.
Summit to Buy Four Hotels for $164M
The company expects to spend approximately $7 million to $9 million in capital improvements over the next two years. This off-market transaction will bring Summit’s year-to-date acquisition activity to nearly $600 million.