Hospitality Archives - REBusinessOnline

Laurel Real Estate Brokers Sale of 60-Room Hampton Inn Hotel in Sunbury, Ohio

Kristin Harlow — Wed, 26 Aug 2026 13:02:00 +0000

SUNBURY, OHIO — Laurel Real Estate Co. has brokered the sale of the 60-room Hampton Inn Columbus I-71 North hotel in Sunbury. Laurel represented the undisclosed seller. A private investor group acquired the hotel. The acquisition included several equity partners and an SBA 504 financing structure involving a conventional first-mortgage lender, LCNB National Bank, and a certified development company, Alloy Development Co. The SBA 504 loan program generally combines a first mortgage from a conventional lender with a second-lien loan facilitated by an SBA-certified development company, according to Laurel. The structure supports qualified small businesses making long-term investments in owner-occupied real estate and other major fixed assets. Katie Vivian of Largo Capital arranged the financing. Fusion Hotels, the buyer-affiliated hotel management platform led by Amul Patel, plans to assume management of the hotel. Fusion’s portfolio consists of 15 hotels across Ohio, Indiana and Kentucky.

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Knighthead Funding Provides $65M Loan for Refinancing of Long Island Hotel, Resort

Taylor Williams — Tue, 25 Aug 2026 12:49:27 +0000

MONTAUK, N.Y. — Knighthead Funding has provided a $65 million loan for the refinancing of Marram Montauk, a 96-room hotel and resort located on the tip of Long Island. Marram Montauk was built in 1967 and renovated in 2020. Guestrooms feature private terraces and balconies, and amenities include an oceanfront pool, private cabanas, curated wellness programming and onsite food-and-beverage options. The undisclosed sponsor acquired the property in 2022 and has since expanded on the capital improvements.

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IHG Opens 112-Room Hotel Indigo at $2.2B MidCity District in Huntsville

John Nelson — Thu, 20 Aug 2026 13:32:05 +0000

HUNTSVILLE, ALA. — IHG Hotels & Resorts has opened a new 112-room Hotel Indigo within MidCity District, a $2.2 billion mixed-use district in Huntsville by RCP Cos. Located at 940 Nunnuhsae Park Drive NW, the hotel features a lobby restaurant and bar called The Indie, a fitness center and 1,100 square feet of meeting and event space. The property is the only Hotel Indigo in Huntsville and the fourth in Alabama. Other elements of MidCity District include the Orion Amphitheater, Trader Joe’s, REI, Topgolf, Holiday Inn, multiple apartment communities and several chef-driven restaurants.

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PENN Entertainment to Invest $195M to Relocate Riverboat Casino in New Orleans

John Nelson — Tue, 18 Aug 2026 15:06:02 +0000

NEW ORLEANS — PENN Entertainment Inc. plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land, pending regulatory approval. If approved, the publicly traded gaming company will rebrand the property, which is expected to open in 2029, as Hollywood Casino New Orleans. The investment will include the build-out of roughly 140,000 square feet of new development, approximately 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. The existing riverboat will be vacated upon opening of the new property, and PENN expects to keep the existing hotel open. The investment would represent the fourth landside relocation of a riverboat casino for PENN, which expects to finance the project with cash on hand, allowing for the option to access its balance sheet or other sources of liquidity. PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge and Margaritaville Resort Casino and Boomtown Casino Hotel in Bossier City.

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Sixth Street, Riller Capital Purchase Pier House Resort in Key West for $190M

John Nelson — Thu, 13 Aug 2026 14:17:46 +0000

KEY WEST, FLA. — Sixth Street, a global investment firm based in San Francisco, and partner Riller Capital have acquired Pier House Resort & Spa, a 142-room luxury oceanfront resort located at 1 Duval St. in Key West. Dallas-based Braemar Hotels & Resorts sold the property to the partnership for $190 million. Situated on five acres, Pier House offers two oceanfront restaurants, a full-service spa, oceanfront pool, 75 linear feet of private beach frontage and 3,000 square feet of meeting and event space. Starwood Property Trust provided acquisition financing for the deal. CBRE represented Sixth Street in the transaction, and The Plasencia Group represented Braemar.

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Ryman Hospitality Properties Agrees to Buy Grande Lakes Orlando Resort for Nearly $1.4B

John Nelson — Tue, 11 Aug 2026 13:15:54 +0000

ORLANDO, FLA. — Ryman Hospitality Properties Inc., a publicly traded hotel REIT based in Nashville, has entered into a definitive agreement to purchase Grande Lake Orlando Resort for approximately $1.4 billion from Trinity Investments. The 409-acre resort comprises a 1,010-room JW Marriott hotel, 582-room Ritz-Carlton hotel and an 18-hole championship golf course designed by Greg Norman. Amenities include 320,000 square feet of event and meeting space, 14 food-and-beverage options, the Grande Lakes Waterpark and a 40,000-square-foot spa and fitness center. Ryman plans to continue to operate the two hotels, which have recently received a combined $150 million renovation, under their Marriott-branded flags. Ryman expects to close the transaction in the third quarter, subject to customary closing conditions. BofA Securities and J.P. Morgan acted as financial advisors to Ryman, and Bass, Berry & Sims PLC and Greenberg Traurig, LLP acted as the firm’s legal advisors.

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Huff, Niehaus & Associates Brokers Sale of Quality Inn & Suites Hotel in Horse Cave, Kentucky

Abby Cox — Mon, 10 Aug 2026 13:51:42 +0000

HORSE CAVE, KY. — Huff, Niehaus & Associates has brokered the sale of Quality Inn & Suites, a 68-room hotel located at 425 Flint Ridge Road in Horse Cave. Huff, Niehaus & Associates represented the undisclosed buyer in the transaction. The seller and sales price were also not disclosed. The property, which sits along the I-65 corridor in south-central Kentucky between Louisville and Nashville, features a mix of amenities including complimentary breakfast, a seasonal outdoor pool, Wi-Fi, free parking with RV/bus space, a business center, self-serve laundry facilities and pet-friendly rooms.

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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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