BETTENDORF, IOWA — The Cambria Hotels brand, franchised by Choice Hotels International Inc., has opened its first location in Iowa. The four-story, 112-room hotel is located at 5061 Competition Drive in Bettendorf within the Quad Cities. Amenities include a bistro, full-service bar, pool, fitness center and meeting space. Frontier Hospitality Group developed the hotel. There are currently more than 40 Cambria hotels across the U.S. The Bettendorf property is the first of seven Cambria hotels expected to open this summer.
LEXINGTON, KY. — The Thrash Group has opened Origin Lexington, a 120-room, 76,000-square-foot hotel situated within The Summit at Fritz Farm in Lexington. Origin Lexington includes 2,100 square feet of meeting space as well as 33 Staves, a restaurant named after the number of wooden stave pieces needed to form a full-sized oak barrel used to age bourbon. Amenities at the hotel include a fitness center, in-room yoga kits and in-room tents and sleeping bags. Birmingham, Ala.-based Bayer Properties is the owner and developer of Summit at Fritz Farm, an outdoor shopping center that has more than 60 retailers and restaurants across 54 acres.
DALLAS — Florida-based private investment firm Waramaug Hospitality has acquired the Embassy Suites by Hilton Dallas Central Park, a 279-room hotel located near the Galleria area of Dallas. The hotel offers amenities such as an indoor pool, fitness center, business center and 7,800 square feet of flexible meeting space. Waramaug plans to renovate the property’s guest rooms and public space. The seller was not disclosed.
DENVER — Hyatt Hotels Corp. plans to develop Thompson Denver, the first Thompson Hotels property in the state of Colorado. Slated to open in 2021, Thompson Denver will be located at 1600 Market St. in Denver’s LoDo district. T2 Hospitality is developing the 11-story hotel as a modern-day chalet. Denver-based DLR Group is designing the property, with interiors by Parts + Labor, in collaboration with the Thompson Hotels design team. The hotel will features 216 guestrooms, including 15 luxury suites and the signature Thompson Suite on the seventh floor; a grab-and-go café, which converts to a bar and lounge in the evening; and a 90-seat, ground-floor restaurant. Additionally, the hotel will feature an indoor/outdoor terrace with a 140-person lounge and bar area, and function and meeting spaces.
SALEM, ORE. — BHG Hotels has purchased DoubleTree by Hilton Hotel Salem, a full-service hotel located at 1590 Weston Court NE in Salem. An institutional seller sold the property for an undisclosed price. Built in 1997, the four-story hotel was converted to a DoubleTree in 2012. Situated on 1.5 acres, the 80-room property features 1,500 square feet of meeting space, an outdoor swimming pool, fitness center and business center. The hotel also features Wake-up DoubleTree Breakfast Buffet, Pavilion Pantry Market and Press NW Bistro & Bar, an on-site restaurant. Scott Hall, Aaron Lapping, Blake Malecha and Nick Kassab of JLL Capital Markets represented the seller in the deal.
MADISON, WIS. — Banyan Investment Group has acquired a three-property hotel portfolio in Madison for approximately $50 million. Banyan will operate the portfolio, which is comprised of a 127-room Courtyard by Marriott, a 130-room Fairfield Inn & Suites and a 115-room Hampton Inn. Each of the four-story properties features a pool, fitness center and business center. The Fairfield Inn & Suites and the Hampton Inn have newly furnished breakfast lounges. The Courtyard by Marriott features 1,080 square feet of meeting space. Banyan is a hotel investment and management company with offices in Florida and Georgia. The seller was not disclosed.
NEW YORK CITY — Local hotel developer Sam Chang has broken ground on a 200-room hotel that will be located at 223 W. 46th St. near Times Square in Manhattan. Designed by Gene Kaufman Architects, the hotel will span 70,000 square feet and rise 21 stories. Amenities will include a fitness center and a ground-floor restaurant with outdoor seating. Completion of the property, which has yet to be named and branded, is scheduled for September 2021.
SOUTHLAKE, TEXAS — Developer RREAF Holdings has broken ground on Marriott Delta Hotel, a 240-room property that will be located in the Fort Worth suburb of Southlake. Designed by Merriman Anderson Architects, the six-story hotel will include 10,000 square feet of meeting space and a full-service restaurant and bar. Hill & Wilkinson is the general contractor for the project, which is expected to be complete by 2020.
CAMBRIDGE, MASS. — Capital Stack Commercial Real Estate Finance and Miami-based GenX Capital Partners have arranged $37.7 million in construction financing for 907 Main Hotel, a 67-room property in Cambridge. Local developer Patrick Barrett III is leading the development of the upscale, boutique hotel, which will span 42,000 square feet and offer a street-level restaurant and a rooftop bar. The building will also house Toscanini’s Ice Cream, which has operated in the neighborhood since 1981. A New York-based hedge fund provided the financing. The hotel is slated to open in early 2020.
BOSTON — Madison Realty Capital has provided a $314 million construction loan for the development of Raffles Boston Back Bay Hotel & Residences. Trinity Stuart LLC, a partnership between two Boston-based entities, Saunders Hotel Group and The Noannet Group, is leading development of the project, which will consist of 147 hotel rooms and 146 residential units. Cain International is also providing joint venture equity to develop the project, which has a total price tag of more than $400 million, with Trinity Stuart. Riaz Cassum and Anthony Cutone of JLL placed the debt and equity on behalf of the developer. A construction timeline was not released.