Thursday, July 3, 2025
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Hospitality

Eagle-Mountain-Casino_Porterville-Calif
CaliforniaDevelopmentHospitalityTop StoriesWestern

Tutor Perini to Build $220M Expansion of Eagle Mountain Casino in Porterville, California

by Hayden Spiess

PORTERVILLE, CALIF. — Tutor Perini Building Corp. — a subsidiary of civil, building and construction company Tutor Perini Corp. — has been awarded a $220 million contract to construct an expansion of the Eagle Mountain Casino in Porterville. The casino is located at 1850 West St., which is about 50 miles north of Bakersfield, Calif., and adjacent to the Porterville Fairgrounds. Tutor Perini will build the development on behalf of the Tule River Gaming Authority, which is operated by the Tule River Indian Tribe of California. Eagle Mountain Casino opened in 2023, replacing another casino that the Tule River Tribe had operated on the site since 1996. Dubbed the Eagle Mountain Casino Phase 2 Expansion, the project is scheduled to begin construction this summer. Substantial completion of the development is expected in 2027.  Upon completion, the new phase will feature a 193-room tower with a rooftop restaurant; a central warehouse and offices; expansion of an existing restaurant; a new, 2,000-seat events center with convention space, breakout meeting rooms, pre-function space; and hotel amenities including a new spa, arcade and swimming pool. According to the Eagle Mountain Casino website, the current casino features 1,750 new and classic slot machines and 20 …

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DevelopmentHospitalityTexas

Peachtree Group, Merritt Top Out 171-Room Hotel in Downtown San Antonio

by Taylor Williams

SAN ANTONIO — Atlanta-based hospitality owner-operator Peachtree Group and Austin-based Merritt Development Group have topped out construction of the 10-story, 171-roomResidence Inn by Marriott hotel in downtown San Antonio. The hotel will feature studio suites with fully equipped kitchens, and separate living and working areas. Amenities will include a fitness center, meeting rooms, outdoor social spaces and a coffee bar. Completion is slated for next summer.

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Best-Western-Home2Suites-San-Mateo-CA
CaliforniaHospitalityLoansWestern

MetroGroup Realty Finance Provides $13.9M Loan for Brand Conversion of 99-Key Hotel in San Mateo, California

by Amy Works

SAN MATEO, CALIF. — Newport Beach, Calif.-based MetroGroup Realty Finance has provided a $13.9 million loan for the conversion of an existing 99-room Best Western hotel to a Home2 Suites by Hilton hotel in San Mateo. J.D. Blashaw of MetroGroup Realty Finance led the team in providing the financing. MetroGroup’s initial $9.5 million funding retired a bridge loan and provided $4.4 million of future funds to execute the brand conversion.

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Heartland-Inn-Suites-Wheatland-WY
AcquisitionsHospitalityWesternWyoming

Prime Investment Properties Brokers Sale of Heartland Inn & Suites Hotel in Wheatland, Wyoming

by Amy Works

WHEATLAND, WYO. — Prime Investment Properties has arranged the sale of the Heartland Inn & Suites hotel in Wheatland. Terms of the transaction were not disclosed. Heartland Inn & Suites features 57 guest rooms, complimentary breakfast, a fitness center, business services and convenient access to I-25.

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DevelopmentHospitalityNortheastPennsylvania

Lehigh Valley Airport Breaks Ground on 145-Room Hotel in Allentown, Pennsylvania

by Taylor Williams

ALLENTOWN, PA. — The Lehigh Valley International Airport has broken ground on a 145-room hotel in Allentown. The site is a 20-acre parcel that once served as an emergency landing strip, and the new hotel will be operated under the Courtyard by Marriott brand. Nonprofit developer Provident Resources Group will own and operate the hotel via ground lease. The Lehigh County Industrial Development Authority issued four tax-exempt bonds totaling $42 million as part of the financing of the project, which also received $1 million in state funding. Construction is expected to last about two years.

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DevelopmentHospitalityLoansTop StoriesUtahWestern

Extell Development Secures $600M Construction Loan for Four Seasons Resort and Residences in Park City, Utah

by John Nelson

PARK CITY, UTAH — Extell Development Co., a national real estate development firm based in New York City, has secured a $600 million construction loan for Four Seasons Resort and Residences Deer Valley, a new hospitality and condominium development currently underway in Park City, Utah’s premier ski town. New York-based JVP Management provided the financing. Extell broke ground on the development earlier this spring and plans to deliver the property in 2028. Designed by ODA Architecture, Four Seasons Resort and Residences Deer Valley will feature one- to seven-bedroom hotel suites ranging in size from 1,200 to 7,000 square feet, all with direct ski-in/ski-out access. Amenities at the property will include wellness and fitness facilities with saunas, steam rooms, whirlpools and spa services, as well as four dining venues and a ski-in/ski-out lounge with an outdoor terrace and fireplace. Additional amenities will include access to 50 miles of hiking and biking trails, an ice rink, indoor sports court and indoor and outdoor pools with panoramic views and private cabanas. The property will also feature a grand ballroom, three meeting rooms and an outdoor event terrace. Upon completion, the development will include a building with 68 private one- to five-bedroom residences as …

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3440-S-Vance-St-Lakewood-CO
AcquisitionsColoradoHospitalityWestern

Matthews Brokers $7.2M Sale of Best Western Hotel in Lakewood, Colorado

by Amy Works

LAKEWOOD, COLO. — Matthews Real Estate Investment Services has arranged the sale of a Best Western hotel located at 3440 S. Vance St. in Lakewood. The asset traded for $7.2 million. The names of the seller and buyer were not released. Simon Assaf and Hunter Davis of Matthews handled the transaction. Constructed in 1995, the 144,619-square-foot hotel features 112 guest rooms.

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DevelopmentHospitalityMidwestOhio

Nationwide Realty Investors Nears Completion of Renovations at Hotel, Conference Center in Metro Columbus

by Kristin Harlow

LEWIS CENTER, OHIO — Nationwide Realty Investors is nearing completion of renovations at Nationwide Hotel and Conference Center, a 20-acre hotel and event complex in Lewis Center, a northern suburb of Columbus. In conjunction with the renovations, the property will be rebranded as The Ohioan Hotel & Event Center later this summer. The newly completed event center renovations include renovated and modernized ballrooms, expanded pre-function and post-function spaces and a new private outdoor courtyard with multiple fireplaces. Additional renovations underway include updates to the 193 guestrooms and suites. The hotel will remain open throughout the phased renovations. The 2,000-square-foot pub will also be given a refresh later this fall. Nationwide also commissioned three Ohio-based artists to create original artworks for display throughout the event center. What began as a radio station in the 1940s evolved into Green Meadows Inn during the 1960s. The property then became a training center for Nationwide Insurance in the 1970s and ultimately expanded into a full-scale conference and hotel destination by the early 2000s.

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DevelopmentHospitalityMidwestNebraska

Midas Hospitality Develops 102-Room Hotel Near Casino, Racetrack in Nebraska

by Kristin Harlow

COLUMBUS, NEB. — Midas Hospitality has developed a dual-branded hotel featuring Fairfield Inn & Suites and Townplace Suites near Harrah’s Racing and Casino in Columbus, a city in eastern Nebraska. The four-story property is under the Marriott umbrella. Locally based Foreman Lumber built the project, which caters to short-term and long-term stays with the 54-room Fairfield Inn & Suites and the Townplace Suites, which offers 48 extended-stay rooms. Amenities include a fitness center, pool, flex space, outdoor patio, meeting room and complimentary breakfast. The casino and horse racing venue came about following the passage of three Nebraska constitutional amendments in 2020, which legalized casino gambling adjacent to horse racing venues in the state.

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HospitalityLoansTexas

Driftwood Capital Provides Mezzanine Financing for 1,841-Room Sheraton Dallas Hotel

by Taylor Williams

DALLAS — Driftwood Capital, a Miami-based lender, has provided new mezzanine financing for the 1,841-room Sheraton Dallas Hotel. Built in 1959, the hotel is located at 400 Olive St. in the downtown area and features 230,000 square feet of meeting and event space and five onsite restaurants, in addition to standard hospitality amenities. The transaction includes the full replacement of a $270 million CMBS loan that was originated in 2024 with a new $300 million senior loan originated by Goldman Sachs and JPMorgan Chase Bank. In tandem, Driftwood upsized its original $30 million mezzanine loan to $35 million. The two-year, floating-rate loan includes three one-year extension options. The sponsor is San Francisco-based Chartres Lodging Group.

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