AMARILLO, TEXAS — Atlanta-based hospitality brokerage firm Hunter Hotel Advisors has arranged the sale of a the 107-room Courtyard Amarillo Downtown hotel in West Texas. The building was originally constructed in 1928 and was converted to a hotel in 2010. Amenities include a business center, fitness center and an onsite restaurant. Summit Hotel Properties sold the hotel to local owner-operator KAMP Hotels for an undisclosed price. Mason McDavid and Kami Burnette of Hunter Hotel Advisors brokered the deal.
PHOENIX — JLL has arranged the sale of Sheraton Phoenix Downtown, a 1,003-room convention center hotel in Phoenix. Built in 2008 and enhanced through a $45 million renovation in 2020, the 33-story property features 112,000 square feet of flexible meeting and event space, including the 27,000-square-foot Phoenix Ballroom and the 14,000-square-foot Valley Of the Sun Ballroom. The conference center offers 26 total meeting rooms, with the largest space accommodating up to 2,510 guests and 20 breakout rooms for concurrent sessions. The 806,481-square-foot property features guest rooms on floors five through 33; three food-and-beverage concepts, including Carcara, &More by Sheraton and Breeze Bar & Grill; a 4,300-square-foot fitness center; an outdoor pool; Sheraton Club Lounge and comprehensive business services. Matt Riley led the JLL Hotels & Hospitality team that represented the undisclosed seller in the transaction.
FAIRFIELD, N.J. — JLL has brokered the sale of the 122-room Courtyard by Marriott Wayne Fairfield hotel in Northern New Jersey. Built in 2018, the four-story hotel features 73 standard king rooms, 36 standard two-queen rooms, seven extended two-queen rooms, four king suites and two queen suites. Amenities include an indoor pool, fitness center, onsite restaurant and 1,587 square feet of meeting and event space. Phil White of JLL represented the seller, RiverLink Hotels, in the deal. Jillian Mariutti, also with JLL, arranged acquisition financing through M&T Bank on behalf of the buyer, Concord Hospitality.
BALTIMORE — Hodges Ward Elliott (HWE) has arranged the sale of the Residence Inn by Marriott Baltimore White Marsh, a 131-room hotel property located within the White Marsh Town Center master-planned community in Baltimore. The hotel spans four floors and features a mix of amenities including a fitness center, outdoor swimming pool, sports court, meeting room and complimentary breakfast. Clint Hodges and Nate Ries of HWE represented the seller, an affiliate of American Hotel Income Properties REIT LP, in the transaction. The buyer and purchase price were not disclosed.
MINOT, N.D. — Marcus & Millichap has negotiated the sale of a 75-room MainStay Suites hotel in Minot. Jake Erickson, Jared Plamann, Brock Banken and Jon Ruzicka of Marcus & Millichap represented the seller, Minot Hospitality Partners LLC. Erickson and Plamann procured the buyer, Astro Hospitality LLC. Built in 2011, the 39,918-square-foot property sits on 1.7 acres adjacent to Dakota Square Mall.
MEMPHIS, TENN. — The City of Memphis has acquired the Sheraton Memphis Downtown, a 600-room hotel located at 250 N. Main St. in downtown Memphis. The seller, an undisclosed institutional hotel investment firm, and the sales price were not disclosed, though local media outlets are reporting the asset traded for $22 million. Spencer Davidson and Tim Osborne of Hunter Hotel Advisors brokered the transaction. The city is partnering with Carlisle Development Group to overhaul and rebrand the property as Marriott Hotel Downtown Memphis. The hotel currently features 18,131 square feet of onsite meeting space, an indoor pool, fitness center and direct access via an enclosed skywalk to the 300,000-square-foot Renasant Convention Center, which recently underwent a $200 million modernization. Specific plans and construction timelines for the hotel redevelopment project were not released.
ARLINGTON, VA. — Revenue per available room (RevPAR) was revised downward in the final performance projections for the U.S. hospitality sector in 2025, according to the latest forecast from CoStar Group and Tourism Economics, an Oxford Economics company. RevPAR is projected to finish the year at a decline of 0.4 percent (or negative 40 basis points) compared to a year ago. This would result in the first total-year decline since 2020 and only the second since 2009, both of which were years with major macroeconomic disruptions with the COVID-19 pandemic and Great Financial Crisis, respectively. CoStar and Tourism Economics also lowered occupancy projections to end the year at 62.3 percent, a decline from 63.1 percent at year-end 2024, while average daily rate (ADR) was held steady at +0.8 percent for the year. For 2026, occupancy is projected to decline by another 30 basis points, while ADR and RevPAR are projected to trend positive by 90 and 50 basis points, respectively (see chart). “We expect little change in the macroeconomic environment as unemployment and prices continue to rise,” says Amanda Hite, president of STR, a hospitality research firm owned by CoStar. “As a result, our hotel performance outlook for the remainder of …
STRATFORD, CONN. — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 135-room Homewood Suites by Hilton Stratford. The extended-stay property sits across from Sikorsky Aircraft Corp.’s 2.5 million-square-foot headquarters in southern coastal Connecticut. An unnamed institutional investor sold the property to owner-operator Jamsan Hotel Management for an undisclosed price. Spencer Davidson of Hunter Hotel Advisors brokered the deal.
SNYDER, TEXAS — Hospitality brokerage firm Mumford Co. has arranged the sale of a Marriott-branded hotel in Snyder, located in Scurry County in West Texas. The Fairfield Inn & Suites Snyder includes 80 suites and offers amenities such as an outdoor pool, fitness center, convenience mart and onsite laundry services. Ryan Patterson of Mumford Co. represented the undisclosed, Houston-based seller in the transaction. The buyer and sales price were also not disclosed.
FREDERICKSBURG, TEXAS — CooperWynn Capital, a Utah-based capital markets advisory firm, has arranged a fixed-rate loan of an undisclosed amount for the refinancing of the 103-room Fredericksburg Inn & Suites in Central Texas. Amenities include complimentary breakfast, an outdoor pool with a slide, volleyball pool and more than 3,700 square feet of meeting and event space. The borrower, Croesus Hotels LLC, bought the select-sertvice hotel in 2004 and subsequently invested more than $5 million in capital improvements. The direct lender was not disclosed.
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