Hospitality

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R.D. Olson Development Completes 190,000 SF Glendale Marriott Residence Inn in California

by Amy Works October 6, 2020

GLENDALE, CALIF. — R.D. Olson Development and R.D. Olson Construction have completed Glendale Marriott Residence Inn, a five-story, mission-style hotel located at 199 N. Louise St. in Glendale. The 190,000-square-foot hotel offers 120 studios with king beds, 12 corner suites, six two-bedroom suites and seven Americans with Disabilities Act-compliant rooms, all with full kitchens. Hotel amenities include a fitness center; courtyard deck with pool and spa; large meeting room; complimentary Wi-Fi; 24-hour market; indoor and outdoor seating areas; and two levels of underground parking. Additionally, the hotel is located near Griffith Park, Hollywood, Dodger Stadium and other Los Angeles-area attractions. Project partners include WATG and SANDdesign.

October 6, 2020

Acquisitions Hospitality Massachusetts Northeast

Xenia Hotels Sells Residence Inn Boston Cambridge Hotel for $107.5M

by Taylor Williams October 5, 2020

CAMBRIDGE, MASS. — Xenia Hotels & Resorts Inc. (NYSE: XHR), a Florida-based REIT, has sold the 221-room Residence Inn by Marriott Boston Cambridge hotel for $107.5 million, or approximately $486,000 per key. The property is located near Harvard University and Kendall Square. The undisclosed buyer acquired the asset at a capitalization rate of 7.8 percent. Xenia will use the $46 million in net proceeds from the sale to repay outstanding debt and for other general corporate purposes.

October 5, 2020

Development Hospitality Southeast Tennessee Top Stories

Southwest Value Partners Opens 591-Room Grand Hyatt Hotel Within Nashville Yards

by Alex Tostado October 2, 2020

NASHVILLE, TENN. — Southwest Value Partners has opened Grand Hyatt Nashville, a 25-story, 591-room hotel located within the 18-acre Nashville Yards development in downtown Nashville. The hotel features a signature restaurant from James Beard Award-winning chef Sean Brock; a rooftop lounge; a fifth-floor “wellness level” that includes a fitness center, pool overlooking downtown and spa; and 77,000 square feet of event and pre-function space, including a 20,000 square-foot grand ballroom. Southwest Value Partners built the hotel in partnership with Clark Construction Group and Bell & Associates Construction, with HKS Architects as designer. The project is the first building to open within Nashville Yards, a mixed-use development set to include more than 3.5 million square feet of office space, 1,000 residential units, 400,000 square feet of retail and entertainment space, 1,100 hotel rooms and a 1.3-acre urban park upon completion. In addition to the Grand Hyatt Nashville, the Clark/Bell team is working with Southwest Value Partners to develop Parcel 4 of Nashville Yards, a planned 24-story office tower and associated parking garage that will serve as Amazon’s new Operations Center of Excellence. Southwest Value Partners is a privately-held real state investment company based in San Diego. — Katie Sloan

October 2, 2020

Development Georgia Hospitality Southeast

IHG Opens 99-Room Staybridge Suites in Metro Atlanta

by Alex Tostado October 1, 2020

DULUTH, GA. — InterContinental Hotels Group (IHG) has opened a 99-room Staybridge Suites hotel in Duluth, a northeast suburb of Atlanta in Gwinnett County. The property features a 24-hour business center, saltwater pool, fitness center, a meeting room and laundry facilities. Each room includes a 49-inch smart TV. Atlanta-based IHG has implemented its Clean Promise program, which includes disinfecting rooms and common areas with an electrostatic sprayer, as well as operating the hotel with strict social distancing guidelines. Duluth Capital Investments LLC operates and owns the hotel, which opened Sept. 30.

October 1, 2020

Development Hospitality Texas

RREAF Holdings Nears Completion of 240-Room Delta by Marriott Hotel in Southlake

by Taylor Williams September 30, 2020

SOUTHLAKE, TEXAS — RREAF Holdings is nearing completion of a 240-room Delta by Marriott hotel in the Fort Worth suburb of Southlake, with an expected opening date of mid-November. Hotel amenities will include a grab-and-go food market, a 24-hour pantry, fitness center, outdoor pool and lounge area and an onsite restaurant and bar. The 10-story building will also feature 10,000 square feet of meeting and event space. Aimbridge Hospitality will manage the property.

September 30, 2020

Development Hospitality Nevada Western

Donohoe Hospitality Opens Dual-Branded Hotel Near Las Vegas Convention Center

by Amy Works September 29, 2020

LAS VEGAS — Donohoe Hospitality Services, a division of Donohoe, has opened the dual-branded Hampton Inn & Suites and Home2 Suites by Hilton Las Vegas located at 755 Sierra Vista Drive in Las Vegas. Located adjacent to the Las Vegas Convention Center, Hampton Inn & Suites features 150 guest rooms while Home2 Suites offers 100 guest suites. The hotels share common amenities including a lobby, dining facilities, a cocktail lounge, 1,000 square feet of meeting and event space, swimming pool, exercise rooms, a business center and onsite parking.

September 29, 2020

Development Hospitality Massachusetts Northeast

Nauset Construction Completes 67-Room Hotel Redevelopment Project in Cambridge

by Taylor Williams September 29, 2020

CAMBRIDGE, MASS. — Nauset Construction has completed the redevelopment of the historic Whitney, Lucretia and Henry Building in Cambridge into a 67-room boutique luxury hotel. The property was built in 1870 and is located in the Central Square area. The developer was a partnership between Sean Casey LLC and Hay Creek Hotels. Gensler designed the project, which houses multiple food and beverage concepts and a rooftop terrace.

September 29, 2020

Development Hospitality Texas

Jackson-Shaw Opens 252-Room AC Hotel by Marriott in Downtown Fort Worth

by Taylor Williams September 29, 2020

FORT WORTH, TEXAS — Locally based developer Jackson-Shaw has opened the 252-room AC Hotel by Marriott in downtown Fort Worth. Designed by Merriman Anderson/Architects, the 16-story building is located near Sundance Square at the corner of Main and Fifth streets. The property features an AC lounge that offers a full bar that also serves small plates, as well as a 24-hour wellness center, coffee shop and a European-style breakfast. Austin Commercial served as the general contractor for the project.

September 29, 2020

Acquisitions California Hospitality Western

Colony Capital Agrees to Sell 197 Hotels to Highgate

by Amy Works September 28, 2020

LOS ANGELES — Los Angeles-based Colony Capital has entered into a definitive agreement to sell six of its hospitality portfolios to Highgate, a hospitality investment and management firm, for $67.5 million. The six portfolios consist of 22,676 rooms across 197 individual hotels. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and third-party approvals. The portfolio, valued at $2.8 billion, includes the assumption of approximately $2.7 billion in consolidated investment-level debt. Moelis & Co. served as financial advisor to Colony Capital in connection with the transaction, and Willkie Farr & Gallagher LLP served as legal counsel for the seller. Latham & Watkins LLP served as legal counsel for the New York City-based buyer.

September 28, 2020

Hospitality Illinois Midwest

Reports: Chicago’s Historic Palmer House Hilton Hotel in Foreclosure

by Kristin Harlow September 28, 2020

CHICAGO — The historic Palmer House Hilton hotel in Chicago faces a bank foreclosure, according to several media reports including The Wall Street Journal. Wells Fargo Bank filed a lawsuit against Thor Equities because the owner was in default on its $333.2 million first mortgage. Located at 17 E. Monroe St., the hotel was originally constructed in 1871. Conrad Hilton later purchased it in 1945. Palmer House features 1,639 guest rooms and suites. Famous guests throughout the decades have included Oscar Wilde, Frank Sinatra, Louis Armstrong and Bill Clinton.

September 28, 2020

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