Hospitality

First Hospitality Opens 124-Room Home2 Suites Hotel in Des Moines

by Kristin Harlow November 20, 2020

DES MOINES, IOWA — First Hospitality has opened a 124-room Home2 Suites by Hilton hotel in Des Moines. The property is located at 2650 University Ave. on the Drake University campus. The hotel features two meeting spaces totaling more than 1,000 square feet, an indoor pool and an outdoor patio space with a firepit. Michael Weldon will serve as the hotel’s general manager. As a result of COVID-19, Hilton has created the Hilton CleanStay program in partnership with RB, maker of Lysol. This program includes increased cleaning schedules, changes to amenities and services and social distancing requirements. The project joins First Hospitality’s growing national portfolio of more than 7,000 hotel rooms.

November 20, 2020

District of Columbia Hospitality Southeast

AHLA Survey: 71 Percent of Hotels Won’t Survive Next Six Months Without Government Assistance

by Alex Tostado November 19, 2020

WASHINGTON, D.C. — The American Hotel & Lodging Association (AHLA) released a survey that found 71 percent of hotels won’t survive the next six months without government assistance. AHLA conducted the survey of hotel industry owners, operators and employees from Nov. 10 to 13, yielding more than 1,200 respondents. Thirty four percent of owners say they may have to close in the next three months due to low vacancy rates, and 77 percent of survey respondents said they would need to lay off more employees without financial relief. Due to a resurgence in coronavirus cases nationwide, public health officials from the Centers for Disease Control and Prevention (CDC) are urging Americans to not travel for the upcoming holiday season. According to a separate AHLA survey, 72 percent of respondents don’t plan to travel over Thanksgiving week. “With a significant drop in travel demand and seven in 10 Americans not expected to travel over the holidays, hotels will face a difficult winter,” says Chip Rogers, president and CEO of AHLA. “We need Congress to prioritize the industries and employees most affected by the crisis. A relief bill would be a critical lifeline for our industry to help us retain and rehire …

November 19, 2020

Development Hospitality Texas

Insignia Hospitality Completes 128-Room Courtyard by Marriott Hotel in Houston

by Taylor Williams November 18, 2020

HOUSTON — Midland, Texas-based developer Insignia Hospitality Group has completed the 128-room Courtyard by Marriott hotel in the Bunker Hill area of Houston. The 85,803-square-foot building rises six stories and offers a fitness center and a business center, as well as complimentary breakfast. Mayse & Associates Inc. designed the project, and Lubbock-based Greenstreet Inc. served as the general contractor.

November 18, 2020

Development Hospitality New York Northeast

TLG Investment Opens 93-Room Hotel, Resort in Upstate New York

by Taylor Williams November 18, 2020

SARANAC LAKE, N.Y. — TLG Investment Partners has opened Saranac Waterfront Lodge, a 93-room hotel and resort located in the Adirondack High Peaks in Upstate New York. The waterfront property houses two food and beverage concepts, a pool, lakeside fire pit, a private marina with 24 boat slips and 30,000 square feet of meeting and event space. Skyward Hospitality is managing the property.

November 18, 2020

Development Hospitality Texas

Development Services Group to Open 226-Room Kimpton Harper Hotel in Downtown Fort Worth

by Taylor Williams November 17, 2020

FORT WORTH, TEXAS — Development Services Group (DSG) will open the 226-room Kimpton Harper Hotel in downtown Fort Worth in spring 2021. The hotel will be housed within the 24-story historic Farmers & Mechanics National Bank building and will feature a penthouse bar and lounge, 10,000 square feet of meeting and event space and a rooftop observation deck. Davidson Hotels & Resorts will manage the property.

November 17, 2020

District of Columbia Hospitality Southeast

AHLA Urges Congress to Pass COVID-19 Relief Bill as Survey Shows Most Americans Have No Holiday Travel Plans

by Alex Tostado November 13, 2020

WASHINGTON, D.C. — The American Hotel & Lodging Association (AHLA) has urged the U.S. Congress to pass another COVID-19 relief bill, citing a lack of holiday travel plans by most Americans surveyed and a continuation of stymied business travel. Morning Consult conducted a survey of 2,200 adults from Nov. 2 to 4 on behalf of AHLA. The results found 69 percent of adults have no travel plans for Thanksgiving and 72 percent of adults don’t plan to travel over Christmas. According to research from STR, the national hotel occupancy for the week ending Oct. 31 was 44.4 percent, down from 62.6 percent a year ago. On the business travel side, 8 percent of survey respondents said they have stayed in a hotel overnight for work since March. Sixty-two percent of employed respondents said they have no plans to stay in a hotel for work in the next six months. “This holiday season will be an especially difficult time for all Americans, and our industry is no exception,” says Chip Rogers, president and CEO of the AHLA. “Fewer people will be traveling, and business travel remains nearly non-existent. That’s why it’s so important for Congress to pass a relief bill now. …

November 13, 2020

Acquisitions California Hospitality Multifamily Western

Skya Ventures, Gelt Sell Marina Dunes RV Resort in Northern California for $28.5M

by Amy Works November 13, 2020

MARINA, CALIF. — A joint venture between Skya Ventures and Gelt has completed the sale of Marina Dunes RV Resort located at 3330 Dunes Drive in Marina. An undisclosed, publicly traded REIT acquired the asset for $28.5 million in an off-market transaction. Situated on 5.6 acres, the property features 96 sites, as well as upscale camping options with fully furnished tents, private yards and fully equipped campsites. The property features privately fenced patios with landscaping, off-street parking, upgraded utility pedestals and bollard streetlights, as well as individual telephone, cable, Wi-Fi and propane tanks at each site. Common area amenities include a clubhouse with game room, billiards, flat-screen television, fire pit, horseshoes and volleyball. Additionally, the property features a retail store and check-in office with an assortment of convenience store items and other merchandise. Jonathon McClellan, Kyle Baskin, Connor Outcalt and Steve Seligman of Institutional Property Advisors, a division of Marcus & Millichap, represented the buyer and seller in the deal.

November 13, 2020

Acquisitions California Hospitality Top Stories Western

Eagle Four Partners, Lyon Living Acquire Newport Beach Marriott Hotel for $216M

by Taylor Williams November 9, 2020

NEWPORT BEACH, CALIF. — A partnership between locally based private equity firm Eagle Four Partners LLC and development and management firm Lyon Living has acquired the 532-room Newport Beach Marriott Hotel & Spa for $216 million. The price equates to approximately $406,000 per room. The seller was Host Hotels & Resorts (NASDAQ: HST), a Maryland-based hospitality REIT. The Newport Beach Marriott is situated on 10 acres adjacent to Newport Harbor and Newport Beach Country Club. The hotel is located within the 3 million-square-foot Newport Center mixed-use development and across from the 1.3 million-square-foot Fashion Island shopping and dining destination. Eagle Four owns and operates the Newport Beach Country Club and recently developed the new clubhouse at Newport Center. The hotel features more than 32,000 square feet of indoor and outdoor meeting and event space, as well as a full-service, spa, pool and fitness center. A fine dining restaurant, grab-and-go food market and a Starbucks Coffee shop also operate within the property. The Newport Beach Marriott was built in 1975 and renovated in 2005. The new ownership plans to build on past capital improvements with its own upgrades. “The hotel will complete a comprehensive renovation of both public space and guestrooms …

November 9, 2020

Acquisitions Georgia Hospitality Mixed-Use Southeast

Pellerin Purchases 375-Room Hotel in South Atlanta’s Summerhill District

by John Nelson November 6, 2020

ATLANTA — Pellerin Real Estate has purchased the former Ramada Plaza by Wyndham Atlanta Downtown & Conference Center, a 375-room hotel in south Atlanta’s Summerhill neighborhood. Atlanta-based Pellerin is partnering with New York-based Life House via its management arm, Life Hospitality, to stabilize the property and explore redevelopment opportunities. The former hotel is located next to Center Parc Stadium, Georgia State University’s (GSU) football stadium that was once the Atlanta Braves home ballpark (Turner Field), as well as a site for the 1996 Summer Olympics. The property is adjacent to Summerhill, an 80-acre master development by Carter USA and GSU. Phase I will feature 306 apartments with 8,575 square feet of ground-level retail, 82,000 square feet of grocery-anchored retail, the redevelopment of 47,000 square feet along Georgia Avenue, a 676-bed student housing project, 100 townhomes and build-to-suit Class A office space. GSU recently announced a new $85 million, 8,000-seat athletic arena that will be directly across the street from the former hotel and is expected to deliver in 2022. Pellerin and Life House are partnering to grow their hospitality portfolio by a minimum of 1,000 rooms over the next 12 months. The firms are targeting 100- to 300-room midscale hotels …

November 6, 2020

Development Hospitality Texas

Satya Breaks Ground on Dual Hyatt-Branded Hotel Totaling 298 Rooms in Houston

by Taylor Williams November 5, 2020

HOUSTON — Locally based development and consulting firm Satya has broken ground on a dual Hyatt-branded hotel at 7329 Fannin St. in Houston. The site is located in a Qualified Opportunity Zone within the Texas Medical Center and will house a 159-room Hyatt Place hotel and a 139-room Hyatt House hotel within a 14-story building. Shared amenities will include multiple dining venues, two bars, a lobby workstation, pool and a fitness center. The project team include Dallas-based architecture firm G2 and general contractor E.E. Reed & Associates. IBC Bank provided financing for construction, which is expected to be complete in 2022.

November 5, 2020

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