SAN ANTONIO — A partnership between Maryland-based Choice Hotels International and Denver-based HighSide Cos. has broken ground on a 115-room EverHome Suites hotel in San Antonio. The site is located at 619 Hunt Lane on the city’s west side, and the hotel will feature apartment-style rooms that will include fully equipped kitchens and spa-style bathrooms. Construction is slated for a late 2025 completion. The partnership also plans to open five other EverHome Suites hotels in Texas in 2025.
PORTLAND, ORE. — Extended Stay America has opened Extended Stay America Premier Suites Portland North in Portland. Trimark-University Housing IV developed the property, which Ark Hospitality will manage. Located at 1215 N. Hayden Meadows Drive, the three-story hotel offers 146 rooms with fully equipped kitchens featuring full-size refrigerators, microwaves, stovetops, cookware, utensils, dishes and a dedicated workspace. The property features complimentary Wi-Fi and breakfast, a fitness center and on-site guest laundry facilities.
LYNDHURST, N.J. — An affiliate of New Jersey-based intermediary Cronheim Mortgage has arranged a $14.6 million construction loan for a Marriott-branded hotel project in the Northern New Jersey community of Lyndhurst. The hotel will total 128 rooms and will be operated under Marriott’s TownePlace Suites brand. David Turley of Cronheim Mortgage placed the loan through an undisclosed local bank on behalf of the borrower, regional hospitality owner-operator BDG Hotels. Construction is slated for a late 2025/early 2026 completion.
Choice Hotels International, Highside Cos. Break Ground on 123-Room Everhome Suites Hotel in Wichita
WICHITA, KAN. — Choice Hotels International Inc. (NYSE: CHH) and Highside Cos. have broken ground on Everhome Suites Wichita, a 123-room hotel. The extended-stay property is located at 3880 N. Rock Road about three miles west of Wichita State University. Completion is slated for fall 2025. Everhome Suites amenities include weekly housekeeping, free WiFi, an outdoor amenity area, Homebase Market, fitness center and guest laundry facilities. The hotel marks Choice’s first Everhome Suites in Kansas.
CHICAGO AND NEW YORK CITY — Hyatt Hotels Corp. (NYSE: H) has agreed to acquire the brands and most of the affiliates of lifestyle hospitality company Standard International, parent company of The Standard and Bunkhouse Hotels brands. The transaction is anticipated to close later this year. The acquired portfolio will be 100 percent asset-light and includes management, franchise and license contracts for 11 open hotels with approximately 2,000 rooms, including The Standard, London; The Standard, High Line in New York City; The Standard, Bangkok Mahanakhon; and boutique properties like Hotel Saint Cecilia in Austin, Texas; and Hotel San Cristóbal in Baja California, Mexico. Upon closing, Hyatt will pay a base purchase price of $150 million, with up to an additional $185 million over time as additional properties enter the portfolio. The Standard hotels have attracted a loyal following among the most discerning lifestyle guests, says Mark Hoplamazian, president and CEO of Chicago-based Hyatt. “These properties truly drive the zeitgeist, creating destinations unto themselves with celebrated and talked-about programming and events, such as the Met Gala afterparty.” With this acquisition, Hyatt will form a new dedicated lifestyle group that will be headquartered in New York City and led by Amar Lalvani, …
CHICAGO — Sterling Bay and Wheelock Street Capital have sold the Hyatt House Chicago/West Loop-Fulton Market hotel for an undisclosed price. Located at 105 N. May St. in the Fulton Market district, the 200-room extended-stay property includes 5,224 square feet of retail space on the ground floor that is now fully leased to The Original Pancake House. The breakfast restaurant plans to open in late spring or early summer 2025. Sterling Bay and Wheelock completed development of the hotel in 2019. Amenities at the property, designed by Eckenhoff Saunders Architects, include an indoor rooftop pool, sky deck, fitness center and full-service lobby bar. Columbus, Ohio-based Rockbridge Capital was the buyer, according to Crain’s Chicago Business.
ORLANDO, FLA. — A partnership between affiliates of Houston-based RIDA Development Corp. and Los Angeles-based Ares Management has purchased the Hyatt Regency Orlando hotel for approximately $1 billion. The seller was Hyatt Hotels Corp. (NYSE: H), and the purchase included a 45-acre adjacent, undeveloped parcel. The hotel spans 1,641 rooms, making it the fourth-largest Hyatt hotel in the world based on room count. The hotel was originally built in 1986 as The Peabody Orlando. Hyatt bought the hotel in 2013 and rebranded it later that year it as the Hyatt Regency Orlando. Guestrooms and suites at the hotel average 453 and 846 square feet, respectively. The accommodations feature marble-accented bathrooms, sleeper sofas, mini-fridges and 65-inch streaming TVs. Amenities include six onsite dining options, a 24-hour fitness center, tennis courts, a spa, outdoor pool and 315,000 square feet of meeting and event space. The hotel also connects to the Orange County Convention Center. The new ownership plans to implement a value-add program at the hotel and has also entered into a development agreement with Hyatt to construct a new Grand Hyatt hotel on the 45-acre parcel. That hotel is expected to have more than 2,500 rooms. Kevin Davis, Mike Huth and …
WARMINSTER, PA. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $7.3 million loan for the refinancing of a 106-room hotel in Warminster, a northern suburb of Philadelphia. The hotel is operated under the Home2Suites by Hilton brand. Katie Vivian of Largo Capital originated the loan, which was structured with a five-year term and fixed interest rate, through an undisclosed life insurance company. The borrower was also not disclosed.
BRUNSWICK, GA. — BPR Properties has opened TownePlace Suites by Marriott Brunswick in Brunswick on the Georgia coast, roughly 80 miles southwest of Savannah. LBA Hospitality will manage the hotel. A ribbon-cutting event is scheduled for Thursday, Aug. 22. This marks BPR’s 17th hotel opened in partnership with LBA. TownePlace Suites by Marriott Brunswick is situated adjacent to Residence Inn Brunswick, another BPR-LBA hotel.
PITTSBURGH — An affiliate of New Jersey-based intermediary Cronheim Mortgage has arranged a $10 million loan for the refinancing of the 98-room Fairfield Inn & Suites hotel in downtown Pittsburgh. The hotel was built in 2019. The nonrecourse loan features a floating interest rate and flexible prepayment options. David Turley of Cronheim Mortgage arranged the loan through an undisclosed bridge lender based on the West Coast. The borrower was a joint venture partnership between Blue Vista Capital, Woodmont Lodging and Milestone Hospitality Management.