Hospitality Archives - REBusinessOnline

Ownership Completes Phase I Renovations of Baltimore Marriott Inner Harbor at Camden Yards Hotel

Abby Cox — Fri, 07 Aug 2026 14:27:01 +0000

BALTIMORE — A New York-based development firm doing business as SC Baltimore Hotel LLC has completed the first phase of the renovation of the Baltimore Marriott Inner Harbor at Camden Yards, a 523-room hotel located at 110 S. Eutaw St. in downtown Baltimore. HEI Hotels & Resorts operates the hotel, which is situated near Oriole Park at Camden Yards, the home ballpark of the Baltimore Orioles. Phase I is part of a two-part, $30 million property-wide renovation. The second phase, which will include upgrading the lobby, restaurant and meeting spaces, is expected to commence in the first quarter of 2027. Phase I focused on modernizing the hotel’s guestrooms, suites and concierge lounge. New in-room amenities include a smart TV with casting and streaming options, a mini-refrigerator, coffee maker and Wi-Fi. The executive lounge, located on the 10th floor, has been refreshed to provide an elevated experience for the hotel’s Marriott Bonvoy Platinum Elite, Titanium Elite and Ambassador Elite members, which features modern enhancements, new seating and a refined atmosphere. Guests can also enjoy complimentary all-day beverages, free daily breakfast and evening hors d’oeuvres. Additional hotel amenities include 24-7 fitness and business centers, more than 18,400 square feet of event space and The…

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DC Partners Tops Out 210-Room Hotel in Fredericksburg, Texas

Taylor Williams — Mon, 03 Aug 2026 15:04:37 +0000

FREDERICKSBURG, TEXAS — Houston-based developer DC Partners has topped out a 210-room hotel in the Central Texas city of Fredericksburg that will be operated under IHG Hotels & Resorts’ Kimpton brand. Designed by Merriman Anderson Architects with interiors by Curioso, the Kimpton Fredericksburg will be located within The Meuse, a 22-acre mixed-use development. The property will feature a full-service restaurant and bar, along with a poolside bar and lounge. Additional amenities will include a 10,000-square-foot outdoor pool and deck, fitness center, café and 18,500 square feet of indoor/outdoor meeting and event space. Construction began last summer. The opening is scheduled for 2027.

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Terra, Turnberry Top Out 17-Story Grand Hyatt Miami Beach Hotel

John Nelson — Thu, 30 Jul 2026 13:25:14 +0000

MIAMI BEACH, FLA. — Terra and Turnberry, along with general contractor Balfour Beatty, have topped out Grand Hyatt Miami Beach, a 17-story, 800-room hotel underway in Miami Beach. The hotel tower will be connected to the newly renovated Miami Beach Convention Center via a climate-controlled sky bridge upon completion. Designed by Arquitectonica, Grand Hyatt Miami Beach will feature 12 floors of hotel rooms, as well as four floors of meeting and ballroom space totaling 110,000 square feet, including the 8,000-square-foot Grand Lawn on the fifth-floor amenity deck. The hotel will include a signature restaurant, lobby lounge and bar and 17,000 square feet of ground-level retail space, as well as two resort-style pools and a fitness center with a spa treatment room. The development team plans to deliver the hotel in late 2027. Last year, Terra and Turnberry secured $392 million in construction financing for the project.

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Alpine Realty Capital Arranges Sale of DoubleTree Hotel and Conference Center in Bay City, Michigan

Kristin Harlow — Tue, 28 Jul 2026 13:21:08 +0000

BAY CITY, MICH. — Alpine Realty Capital, a member of Hotel Brokers International, has arranged the sale of the DoubleTree Hotel and Conference Center by Hilton in Bay City. Alpine negotiated pricing and terms on behalf of the buyer and assisted in all aspects of due diligence, including appraisal and environmental execution, lender analysis and approvals and coordination with legal counsel and seller’s representatives. The property overlooks the Saginaw River and features an onsite restaurant, indoor pool, fitness center and meeting rooms.

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Partnership Breaks Ground on Apartment Tower, Marriott Hotel in Downtown West Palm Beach

John Nelson — Wed, 22 Jul 2026 14:01:12 +0000

WEST PALM BEACH, FLA. — A partnership comprising LD&D, IGEQ and FrontRange Capital Partners has broken ground on a 21-story apartment tower and hotel in downtown West Palm Beach. The properties, the 181-unit Alida Residences and the 112-room Tribute Portfolio hotel by Marriott, will be developed simultaneously as separate residential and hospitality properties. The developers assembled the three parcels for the two buildings in 2019. The site is located directly adjacent to a Brightline station and near the future campus for Vanderbilt University. Alida Residences will offer a mix of studio, one-, two- and three-bedroom units ranging in size from 500 to 2,000 square feet, as well as a rooftop pool deck on the 21st floor. Both Alida Residences and the Tribute Portfolio hotel by Marriott are expected to open in 2028.

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Marcus & Millichap Negotiates Sale of 113-Room Fairfield Inn & Suites Hotel in Omaha

Kristin Harlow — Wed, 22 Jul 2026 13:35:24 +0000

OMAHA, NEB. — Marcus & Millichap has negotiated the sale of a 113-room Fairfield Inn & Suites hotel property in downtown Omaha. Adam Lewis is Marcus & Millichap’s Nebraska broker of record. The firm marketed the property on behalf of the seller and procured the buyer, both private investor groups. Fairfield Inn & Suites Omaha Downtown is located within walking distance of Charles Schwab Field, home of the College World Series.

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Marcus & Millichap Brokers Sale of 45-Room Country Inn & Suites Hotel in Detroit Lakes

Kristin Harlow — Mon, 20 Jul 2026 13:45:12 +0000

DETROIT LAKES, MINN. — Marcus & Millichap has brokered the sale of a 45-room Country Inn & Suites hotel in Detroit Lakes, a city in northwest Minnesota. Joseph Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken of Marcus & Millichap represented the seller, DL Hotel Group LLC, and procured the South Dakota-based buyer. Built in 1996, the recently renovated property is located just off Highway 10 and within walking distance of Detroit Lake. According to Ferguson, Detroit Lakes remains one of Minnesota’s strongest regional lodging destinations.

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NewPoint Provides $34.6M Loan for Hotel-to-Multifamily Conversion Project in Arlington, Virginia

Abby Cox — Fri, 17 Jul 2026 13:24:27 +0000

ARLINGTON, VA. — NewPoint has provided a $34.6 million bridge loan for the acquisition and planned multifamily conversion of the Clarion Collection Arlington Court Suites, a 187-room, extended-stay hotel located in Arlington’s Rosslyn-Ballston corridor. Jacob Gabriel of NewPoint originated the financing on behalf of the borrower, Goodhomes Communities LLC. The bridge loan, which was used to finance the purchase of the hospitality property, includes future funding for capital improvements and is structured to support the borrower’s business plan to convert the asset into a multifamily community. Upon completion of the conversion, the property will offer a mix of studio, one-, two- and three-bedroom apartments. Goodhomes Communities LLC will announce the property’s new name at a later date. Clarion Collection Hotel Arlington Court Suites first opened as an apartment building in 1963.

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Marcus & Millichap Brokers Sale of 250-Room Hotel in East Syracuse

Taylor Williams — Thu, 16 Jul 2026 14:51:07 +0000

EAST SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of a 250-room hotel in East Syracuse. Opened in 1977 and renovated in 2016, the DoubleTree Syracuse is located in the Carrier Circle area and comprises a central building that houses public spaces in addition to four-story and seven-story guestroom wings. Amenities include a tavern and bar, a business center, indoor pool, fitness center and approximately 17,000 square feet of meeting and event space. Andy Kern, Jerry Swon and David Altobello of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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Bass Pro Shops Acquires 27-Acre Cheeca Lodge & Spa Resort in Florida Keys

John Nelson — Tue, 14 Jul 2026 14:13:26 +0000

ISLAMORADA, FLA. — Bass Pro Shops, an outdoors retailer based in Springfield, Mo., has purchased Cheeca Lodge & Spa, a 27-acre resort in the Florida Keys city of Islamorada that was established in 1946. Northwood Investors sold the property to Bass Pro Shops but will continue to manage the 254-room resort and grounds, which includes multiple hotel layouts; several restaurants and bars, including the Pierre’s Restaurant and Beach Café & Bar and 25 South tiki bar; indoor meeting spaces and conference rooms; three swimming pools, including a zero-entry oceanfront pool; a fitness center and spa with treatment rooms; nine-hole golf course designed by Jack Nicklaus; pickleball and tennis courts; the World Wide Sportsman Store & Marina; and the longest fishing pier in the Keys. The property also includes staff housing and operates under a mixed ownership structure comprising 169 fee-simple hotel rooms and 85 third-party-owned condominiums participating in the rental program. Daniel Peek, Andrew Dickey, Chris Drew and Maciej Polek of JLL represented Northwood Investors, which has owned and managed the Cheeca Lodge & Spa for the past 15 years. The sales price and future plans for the resort were not disclosed.

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Ascendant Purchases Eight-Hotel Portfolio Across Virginia Beach, Outer Banks

Abby Cox — Mon, 13 Jul 2026 13:53:06 +0000

LOS ANGELES — Los Angeles-based Ascendant Capital Partners has acquired an eight-property hotel portfolio across Virginia Beach and North Carolina’s Outer Banks region. CBRE Hotels, the hospitality division of CBRE Group, represented the seller, Coastal Hospitality, in the transaction. CBRE also served as financial advisor on behalf of Ascendant. The sales price was not disclosed. Schulte Hospitality Group will assume operations of the portfolio. The portfolio comprises 965 rooms across six hotels in Virginia and two hotels in the Outer Banks. Seven of the eight properties are beachfront, with most rooms offering direct ocean views and outdoor balconies, while the remaining asset is a centrally located town center hotel. The properties include: Ascendant plans to implement capital and operational renovations across the properties.

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Western North Carolina Is Changed, But Not Broken, Following Hurricane Helene

John Nelson — Mon, 13 Jul 2026 11:57:00 +0000

Hurricane Helene was not a modest disruption. It was a disaster of historic scale. The North Carolina Office of State Budget and Management estimated total damage and recovery needs at $59.6 billion as of Dec. 2024, including damage to more than 73,000 homes, more than 100 confirmed deaths in North Carolina and a federal disaster declaration covering 39 counties. As a broker in Western North Carolina (WNC), I am often asked why the commercial real estate market has remained as strong as it has. The answer is not that the market avoided pain. It did not. The answer is that a tightly supplied market behaves very differently from a soft market after a disaster. In WNC, Hurricane Helene did not expose oversupply. It exposed scarcity. Before Helene, the Asheville-area commercial market already had very little slack. In NAI Beverly-Hanks’ second-quarter 2024 Asheville MSA commercial market report, CoStar Group-derived vacancy stood at 5.3 percent for industrial, 2.8 percent for office and 1.6 percent for retail. Earlier 2024 reporting from the same source showed similarly constrained conditions, reinforcing the same point: this was already a tight market before the storm arrived. A familiar recovery pattern That pre-storm scarcity shaped the recovery pattern.…

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Ball Ventures, B&T Hospitality Open 143-Room Dual-Branded Hotel in Pleasant Grove, Utah

Amy Works — Fri, 10 Jul 2026 13:35:59 +0000

PLEASANT GROVE, UTAH — Ball Ventures and B&T Hospitality have opened a 143-room dual-branded hotel in Pleasant Grove, located north of Provo. The hotel, which carries the Tru by Hilton and Home2 Suites by Hilton brands, is located at 1138 S. Valley Grove Way within the 128-acre Valley Grove mixed-use business community that is being developed by Baltimore-based St. John Properties Inc. The Tru by Hilton features 68 guestrooms, and the Home2 Suites offers 75 suites. Shared amenities include a heated outdoor pool and hot tub, 24-hour fitness center and outdoor fire pits. Both hotels offer daily complimentary breakfast, free parking, business center and meeting rooms.

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Inland Sells Two Hilton-Branded Hotels in Michigan for $32M

Kristin Harlow — Fri, 10 Jul 2026 13:04:47 +0000

HOLLAND, MICH. — An affiliate of Inland National Development Co. LLC, a member company of The Inland Real Estate Group of Cos. Inc., has sold Tru by Hilton Holland (98 rooms) and Home2 Suites by Hilton Holland (109 rooms) for a combined sales price of $32 million. The hotel properties are located along US 31, providing convenient access to Holland State Park and Ottawa Beach. Tru by Hilton caters to short-term travelers with amenities such as a hot breakfast, indoor heated pool and fitness center. Home2 Suites by Hilton is designed for extended-stay guests, featuring apartment-style accommodations with fully equipped in-suite kitchens, complimentary Wi-Fi and breakfast. Guests of both hotels can benefit from shared amenities.

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Machine, Lionshead Capital Purchase 641-Room Atlanta Airport Marriott Hotel

John Nelson — Wed, 08 Jul 2026 14:17:37 +0000

ATLANTA — A joint venture between Machine Investment Group and Lionshead Capital Partners has purchased Atlanta Airport Marriott, a 641-room hotel located on a 16-acre site adjacent to Hartsfield-Jackson Atlanta International Airport. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports that the Pennsylvania Public School Employees’ Retirement System was listed as the previous owner on Fulton County property records. William Hodges and Michael Tormey of Hodges Ward Elliott brokered the transaction. The new ownership group has selected White Label Asset Management to serve as asset manager for the 16-story hotel. The property includes 30,178 square feet of indoor meeting space, including a 9,928-square foot ballroom; multiple food-and-beverage outlets; an indoor/outdoor pool complex; and a large fitness center with six pickleball courts. Machine and Lionshead Capital plan to invest in a significant capital improvement program for Atlanta Airport Marriott, whose guestrooms were last renovated in 2017.

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Las Vegas Strip Isn’t Cooling — It’s Normalizing

John Nelson — Tue, 07 Jul 2026 12:00:00 +0000

— By Mike Mixer of Colliers — Recent headlines have pointed to a “cooling” of the Las Vegas Strip, with RevPAR down, visitation below peak levels and growth moderating from 2022 and 2023 highs. On paper, the numbers look softer. But before drawing conclusions, it’s important to consider how the data is being viewed as the comparisons most often used are distorted. The Pandemic was Not a Normal Cycle COVID-19 shut down the Strip in March 2020, an unprecedented event in modern history. Southern Nevada visitor volume dropped by more than 50 percent. Resorts closed, occupancy collapsed and revenues fell sharply. The 2021 to 2023 rebound that followed was equally unusual. Pent-up demand, stimulus liquidity and limited new supply drove record ADR growth and historic RevPAR levels. Both the downturn and the surge were outliers. When those years are used as a benchmark, today’s performance appears negative. In reality, it reflects normalization. Rates Remain Elevated Even with recent moderation, Strip ADR remains materially above pre-pandemic levels. Operators have maintained rate discipline and are not aggressively discounting to chase occupancy. That suggests stability rather than weakening demand. Capital Signals Confidence If the Strip were in decline, capital would be retreating. Instead,…

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Serac Capital, WalshDupart Complete 180-Unit Dual-Branded Marriott Hotel in Steamboat Springs, Colorado

Amy Works — Mon, 06 Jul 2026 12:34:00 +0000

STEAMBOAT SPRINGS, COLO. — Serac Capital Partners, in partnership with hospitality development firm WalshDupart, has completed construction of a 180-unit, dual-branded hotel at at 1750 Central Park Drive in Steamboat Springs. The hotels carry the SpringHill Suites by Marriott and TownePlace Suites by Marriott flags. SpringHill Suites offers suites and complimentary breakfast, while TownePlace Suites offers apartment-style accommodations, in-suite kitchens and flexible living spaces. The two hotels are connected via The Crawford Lounge, which features a fireplace, billiards and a curated selection of local bites and craft cocktails. St. Louis-based Midas Hospitality will manage the properties.

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Marcus & Millichap Brokers Sale of 49-Room Hotel in Clarendon, Texas

Taylor Williams — Mon, 29 Jun 2026 14:00:00 +0000

CLARENDON, TEXAS — Marcus & Millichap has brokered the sale of a 49-room hotel in the West Texas city of Clarendon. Built on 2.4 acres in 2004, the hotel is operated under the Best Western Plus brand and offers amenities such as an indoor pool, business center, fitness center and meeting space. Gordon Allred and Chris Gomes of Marcus & Millichap represented the seller in the transaction and procured the buyer.

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Skanska Wins $325M Contract to Construct Marriott Hotel in Cincinnati

Matthew Auchincloss — Wed, 24 Jun 2026 12:30:00 +0000

CINCINNATI — Multinational construction and development company Skanska has been awarded a $325 million contract with Atlanta-based developer Portman Holdings to construct a 21-story Marriott-branded hotel in downtown Cincinnati. The 700-key, full-service hotel will be located next to the newly renovated First Financial Center convention center. According to the development team, the hotel will be the first “true” Marriott-branded hospitality property in downtown Cincinnati, although hotels bearing Marriott brands such as AC Hotels and Renaissance are already in operation. Amenities will include multiple ballrooms, 62,250 square feet of meeting and event space, 17,445 square feet of outdoor terrace space, a restaurant and a hotel bar. Additionally, Portman Holdings has secured $410 million in private funding, according to the Cincinnati Business Courier. Bank OZK provided the senior construction loan and Huntington National Bank provided a bridge loan. The Cincinnati Business Courier also reports that the public funding component of the project was secured in March when the Port of Greater Cincinnati Development Authority approved the sale of $130 million in tax-exempt bonds. The project is a public-private partnership with the public share totaling 46 percent. The port purchased the site, which at the time was a surface parking lot in 2018. Construction is slated to begin…

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X-Caliber Provides $431M in Financing for Redevelopment of Coco Palms Resort in Hawaii

John Nelson — Tue, 23 Jun 2026 12:00:00 +0000

KAUAI, HAWAII — X-Caliber Capital Holdings, a commercial real estate finance firm based in Irvington, N.Y., has provided a financing package totaling $431 million for the redevelopment of Coco Palms, a 32-acre resort destination on the Hawaiian island of Kauai. The property was famously the filming location of “Blue Hawaii,” a 1961 movie starring Elvis Presley, and is listed on the National Register of Historic Places. “Coco Palms holds a unique place in Kauai’s history, and its restoration is an exciting development for the island and its residents,” says Chris Callahan, president and CEO of X-Caliber. The financing includes $185.6 million of conventional financing via an affiliate of X-Caliber, X-Caliber Rural Capital, and $245.4 million of C-PACE financing through CastleGreen Finance, another X-Caliber affiliate. Together, the loans will provide 80 percent of the estimated redevelopment cost and are priced at an “attractive,” blended interest rate. Gabe Mashaal of X-Caliber Rural Capital originated the conventional loan on behalf of the developer, Utah-based Reef Capital Partners. New York City-based Highgate will operate Coco Palms upon completion of the redevelopment, which is planned for 2028. The conventional funds are intended to provide construction-through-stabilization financing for up to five years. The C-PACE funds are…

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