Hospitality

Hilton Worldwide Opens Home2 Suites by Hilton Nashville Franklin Cool Springs

by John Nelson August 29, 2016

FRANKLIN, TENN. — Hilton Worldwide has opened the 105-room Home2 Suites by Hilton Nashville Franklin Cool Springs located at 107 International Drive in the Nashville suburb of Franklin. Owned and managed by Vision Hospitality Group, the pet-friendly hotel features fully equipped kitchens in each suite, complimentary internet, community spaces, a combined laundry and fitness area known as Spin2 Cycle, complimentary breakfast, convenience store known as Home2 MKT, boardroom, indoor saline pool, outdoor patio, firepit and grill area.

August 29, 2016

Hospitality New York Northeast

Quadram Global to Open Two Arlo Hotels in Manhattan

by Amy Works August 26, 2016

NEW YORK CITY — Quadram Global is developing two Arlo micro-hotel brand hotels in Manhattan. Both hotels were designed by Gene Kaufman Architect. Located at 231 Hudson St., the 11-story, 325-key Arlo Hudson is slated to open on September 6. The 97,000-square-foot hotel will feature a rooftop terrace with a bar/lounge, a ground-floor courtyard with lounge and Harold’s Meat +3, the latest eatery of Chef Harold Moore, executive chef and owner of Commerce Restaurant. The interiors of the Hudson Square property were designed by AvroKO, and the landscape was designed by MDD Landscape Design. Located at 11 E. 31st St., the 37-story, 250-key Arlo NoMad is scheduled to open later this fall. The 91,000-square-foot hotel will feature a roof deck, small but well-appointed guest rooms, dining and lounging options and public spaces.

August 26, 2016

Hospitality Texas

M&M Arranges Sale of 42-Room Hospitality Property in Atlanta

by Haisten Willis August 25, 2016

ATLANTA, TEXAS — Marcus & Millichap has arranged the sale of Best Western Pineywoods Inn, a 42-room hospitality property located in Atlanta, 25 miles south of Texarkana. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Gomes, Miller and Cooper also procured the buyer, a private investor. Best Western Pineywoods Inn is located at 306 US Highway 59 Loop. Constructed in 2001, the two-story hotel is located in the Pineywoods region of northeast Texas. The property features an outdoor swimming pool, business center, breakfast area and meeting space.

August 25, 2016

Colorado Hospitality Western

Summit Hotel Properties Buys Marriott in Boulder for $61.4M

by Nellie Day August 25, 2016

BOULDER, COLO. — Summit Hotel Properties has purchased the 157-room Marriott hotel in Boulder for $61.4 million. The hotel is located at 2660 Canyon Blvd. The Marriott is situated within walking distance of the University of Colorado, Folsom Field and Pearl Street Mall. Notable employers in the area include IBM, Google, NCAR, Qualcomm and Covidien. The hotel has achieved a revenue per available room (RevPAR) of $167 a night over the past 12 months. This represents a 51 percent premium over the Summit’s pro forma RevPAR for its portfolio.

August 25, 2016

Alabama Hospitality Southeast

Hunter Hotel Advisors Brokers $13.3M Sale of Hilton Birmingham Perimeter Park

by John Nelson August 25, 2016

BIRMINGHAM, ALA. — Hunter Hotel Advisors has brokered the sale of the 205-room Hilton Birmingham Perimeter Park in Birmingham. The buyer, Atlanta-based Peachtree Hotel Group, purchased the eight-story hotel with plans to invest $10.5 million to renovate and reposition the property into a DoubleTree by Hilton hotel. The sales price and seller were undisclosed, but the Birmingham Business Journal reports the sale price as nearly $13.3 million.

August 25, 2016

Hospitality Loans Texas

Pioneer Realty Capital Arranges $13.8M Construction Loan for Home2 Suites Hotel in Dallas

by Haisten Willis August 24, 2016

DALLAS — Pioneer Realty Capital LLC has closed a $13.8 million construction loan for a 130-room Home2 Suites Hotel in Dallas. The 82,130-square-foot property is an extended stay hotel featuring customizable guest room design. Amenities at the five-story hotel will include a combined laundry and fitness facility and pet-friendly accommodations. Freedom Hospitality LLC in Bryan is working with the contractor, Aguirre Roden Building Specialties Inc. of Dallas. Construction began in July. The 18-month project is scheduled to open in December 2017.

August 24, 2016

Hospitality Texas

MCR Development Completes Renovation of Courtyard by Marriott Brownsville

by Haisten Willis August 24, 2016

BROWNSVILLE, TEXAS — MCR Development LLC has completed a renovation of the Courtyard by Marriott Brownsville, a 90-room select-service hotel. Located off I-69 East, the newly renovated hotel features an updated exterior with a stucco façade. The renovation of the hotel’s exterior follows recently completed updates to the interior, which included upgrading the lobby and guestrooms and the addition of a bistro. The hotel is located near Mitte Cultural District and the University of Texas at Brownsville.

August 24, 2016

Hospitality Northeast Pennsylvania

Vine Street Matthews Develops 51-Story, Dual-Branded Hotel in Philadelphia

by Amy Works August 23, 2016

PHILADELPHIA — Vine Street Matthews, a joint venture between Matthews Southwest and Vine Street Developers, is developing a dual-branded hotel facility located at 15th and Chestnut streets in Philadelphia. Designed by Cope Linder Architects, the 51-story project will feature the 295-room W Philadelphia and the 460-room Element Philadelphia Hotel, both operated by Starwood Hotel & Resorts Worldwide. Slated to open in 2018, the 773,500-square-foot property will feature panoramic city views, an outdoor pool bar and terrace, meeting and banquet facilities, food and beverage venues, prime retail space and parking for 171 cars. The property is owned by Chestlen Development, an entity controlled by Brook Lenfest. The project team also includes O’Donnell & Naccarato and Tutor Perini Building Corp.

August 23, 2016

Hospitality Loans New York Northeast

PMZ Realty Capital Arranges $71M Loan for Hotel Portfolio in Four States

by Amy Works August 23, 2016

NEW YORK CITY — New York City-based PMZ Realty Capital has arranged a $71 million loan to refinance a four-property Hilton portfolio. The proceeds will be used by the undisclosed borrower to repay the first mortgage and mezzanine debt that has matured, as well as fund upcoming capital expenditure improvements throughout the portfolio. The portfolio includes the 140-room Hilton Garden Inn Ridgefield Park in Ridgefield Park, N.J.; the 125-room Hampton Inn & Suites in Kissimmee, Fla.; the 150-room Embassy Suites in Palmdale, Calif.; and the 192-suite Homewood Suites by Hilton in Nashville, Tenn. Michael Sonnabend of PMZ Realty Capital arranged the loan for the borrower.

August 23, 2016

Hospitality Montana Western

The Hotel Group Opens Rebranded DoubleTree by Hilton Billings

by Nellie Day August 23, 2016

BILLINGS, MONT. — The Hotel Group has completed a multi-million-dollar renovation on the newly rebranded, 289-room DoubleTree by Hilton Billings. The transformation includes a lobby redesign, updated guest rooms and meeting spaces, new furnishings and amenities. The hotel features 16,000 square feet of flexible meeting space that can accommodate business conferences, banquets and other events for up to 400 guests. There are also three additional ballrooms and 15 meeting rooms. DoubleTree by Hilton Billings is three miles from Billings Logan International Airport.

August 23, 2016

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