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DevelopmentHospitalityMichiganMidwestRetail

Michigan State Approves Construction of $150M Spartan Gateway District Project, Selects Developer

by Kristin Harlow

EAST LANSING, MICH. — The Michigan State University Board of Trustees has authorized the university to move forward with the construction of the Spartan Gateway District, a public-private campus community development project on the west side of campus along Harrison Road in East Lansing. The university has selected G&G Project Sparta LLC, a joint venture between Lansing, Mich.-based Gillespie Group and Omaha, Neb.-based Goldenrod Cos., as the developer. The project’s price tag is $150 million, according to Crain’s Detroit Business. The Spartan Gateway District encompasses a new hotel and retail space as well as an athletics arena. The Olympics Sports Arena will support volleyball, wrestling, gymnastics, locker rooms and coaching office space in addition to a number of university classrooms. The hotel and retail space would be part of the public-private partnership between the university and the developer. The Spartan Gateway District will be developed in multiple phases. The first phase will include the arena, which is slated to be operational by late 2027. Additional phases featuring a variety of commercial uses including a hotel, housing, office and retail spaces will follow. The timeline for the final phase, which will expand the university’s use of the facilities, is yet to …

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AcquisitionsHospitalityMidwestWisconsin

Marcus & Millichap Arranges $2.5M Sale of Oasis Hotel in Sheboygan Falls, Wisconsin

by Kristin Harlow

SHEBOYGAN, WIS. — Marcus & Millichap has arranged the $2.5 million sale of the 45-room Oasis Hotel in Sheboygan Falls. The seller, a first-time hotel owner, acquired the property in 2022 and removed the flag, completed a full renovation and operated it as an independent hotel before deciding to exit. Built in 1988, the asset is located on 2.8 acres at 600 N. Main St. Reed Gizinski, Jon Ruzicka and Joseph Ferguson of Marcus & Millichap represented the seller and procured the undisclosed buyer.

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ArizonaCaliforniaDevelopmentHospitalityWestern

Choice Hotels Opens Three Everhome Suites Locations in Arizona, California, Alabama

by Amy Works

CHANDLER, ARIZ., TEMECULA, CALIF., AND HUNTSVILLE, ALA. — Choice Hotels International has opened Everhome Suites properties in Chandler, Temecula and Huntsville. Choice Hotels now maintains 10 Everhome Suites across the country and is on track to have 25 hotels open by year’s end with 20 currently under construction. The new hotels include:– The 114-room Everhome Suites Chandler at 3200 W. Willis Road. The project team included ServiceStar Capital Management and Genesis Cos. as developers, 101 Architecture as architect and PATH Construction as general contractor.– The 117-room Everhome Suite Temecula at 27165 Madison Ave. The hotel was developed and is owned by Paladin Equity Capital. The project team included Woolpert Architects and Buffalo Construction.– The 98-room Everhome Suites Huntsville at 5581 Holmes Ave. The project team included EHS Huntsville LLC as developer, Woolpert as architect and Integrated Construction as contractor. Each Everyhome Suites offers a variety of amenities, including:– Fully equipped kitchens with full-sized refrigerators, dishwashers, stovetops, microwaves, flatware, cookware and counter space– Spa-like bathrooms with high-quality fixtures– Large closets and additional open and closed storage– Weekly housekeeping– Free WiFi– Pet-friendly options– Contemporary multipurpose lobbies– Communal outdoor amenity areas with barbecue grills, fire pits and green spaces; pools at select locations– 24/7 …

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DevelopmentHospitalityKansasMidwest

Price Brothers Breaks Ground on 99-Room Holiday Inn Express Hotel at Bluhawk Development in Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Price Brothers has broken ground on a 99-room Holiday Inn Express hotel at the Bluhawk mixed-use development in Overland Park, a suburb of Kansas City. The project marks the first of three planned hotels within The Boundary, a retail and lifestyle center. The hotel is scheduled for completion in spring 2026 in time to welcome guests for the FIFA World Cup. Additionally, Barnes & Noble and J. Crew Factory are scheduled to open at The Boundary this summer.

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Grand Hyatt Miami Beach
DevelopmentHospitalityLoansTop Stories

Terra, Turnberry Receive $392M Construction Financing for Miami Beach Grand Hyatt Hotel

by Channing Hamilton

MIAMI BEACH, FLA. — Terra and Turnberry have received $392 million in financing for the construction of Grand Hyatt Miami Beach, an 800-room hotel situated adjacent to the Miami Beach Convention Center. TYKO Capital, a New York City-based private equity and private credit investment management platform, provided the financing to the South Florida-based developers.  Grand Hyatt Miami Beach will rise 17 stories at 17th Street and Convention Center Drive. The property will offer 12 floors of guest rooms, including 52 suites with views of Miami Beach. Additionally, four floors will feature meeting and ballroom spaces. Guests will have access to a pool deck with panoramic city views, a restaurant, lobby lounge and bar, as well as street-level retail space. The hotel will feature direct access to the Miami Beach Convention Center via a climate-controlled sky bridge. Plans for the development also call for new public spaces, pedestrian-friendly promenades, bike-sharing stations and connectivity to public transit. According to sources familiar with the transaction, Eastdil Secured was involved in arranging the debt on behalf of Terra and Turnberry. Arquitectonica designed the hotel, and Balfour Beatty is serving as the general contractor. The Miami Beach Redevelopment Agency awarded a $75 million grant for the project in 2024. Grand …

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Waldorf-Astoria-Texas-Hill-Country-Fredericksburg
DevelopmentHospitalityMultifamilyTexas

Partnership to Develop Waldorf Astoria Hotel, Residences in Fredericksburg, Texas

by Taylor Williams

FREDERICKSBURG, TEXAS — A partnership between Hilton (NYSE: H) and Wine Country Hospitality Partners LLC will develop a hotel and residential property in the Central Texas city of Fredericksburg that will be operated under the Waldorf Astoria brand. The Waldorf Astoria Texas Hill Country and Waldorf Astoria Residences Texas Hill Country will consist of 60 dedicated hotel guest rooms and suites, 37 resort villas and 50 private residences. The resort will also offer five food-and-beverage concepts, an 11,000-square-foot spa and fitness center and two resort-style pools. The opening is scheduled for 2027. Wine Country Hospitality Partners is a partnership between Mark Harmon, founder of Auberge Resorts Collection; Robert Radovan, founder of luxury hospitality developer Criswell Radovan; and Tim Sparapani, co-founder of Blue Run Spirits and an experienced investor in hospitality startups.

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Tallman-Hotel-Upper-Lake-CA
AcquisitionsCaliforniaHospitalityRestaurantRetailWestern

Curtis Holdings Sells Tallman Hotel, Blue Wing Saloon in Lake County, California

by Amy Works

UPPER LAKE, CALIF. — Curtis Holdings has completed the disposition of Tallman Hotel and Blue Wing Saloon, located at 9550 Main St. and 9520 Main St., respectively, in Upper Lake. Amar and Rajvi Alapati acquired the assets for an undisclosed price. The buyers will add the properties to its Serenity Hotels Collection. Alex Lee-Bull and Lauren Liebes of CBRE represented the seller. The Tallman Hotel offers 17 rooms across nine buildings. Originally built in 1896, the hotel was renovated between 2002 and 2005 and reopened in 2006 with modern amenities, including an outdoor swimming pool, gardens and a meeting room. Select rooms offer outdoor showers and Japanese Ofuro soaking tubs.

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AcquisitionsHospitalityLoansLouisianaSoutheast

Hunter Brokers Sale of 294-Room Crowne Plaza Executive Center Baton Rouge Hotel in Louisiana

by John Nelson

BATON ROUGE, LA. — Atlanta-based Hunter Hotel Advisors has brokered the sale of Crowne Plaza Executive Center Baton Rouge, a 294-room hotel located near the campus of Louisiana State University (LSU) and Tiger Stadium. APM Property Holdings LLC purchased the hotel from a private seller for an undisclosed price and has selected Schulte Hospitality to operate the hotel. The Crowne Plaza features an outdoor pool, a 3,000-square-foot fitness center, the Patio Grille and Lounge restaurant and more than 32,000 square feet of flexible event space, including 17 meeting rooms and three ballrooms. Tim Osborne and Kami Burnette of Hunter brokered the transaction. Additionally, Adeel Amin of Hunter arranged an $11.7 million acquisition loan that was underwritten at a 65 percent loan-to-value ratio with interest-only payments over the three-year term.

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DevelopmentFloridaHospitalityRestaurantRetailSoutheastTop Stories

Universal Orlando Resort to Open 750-Acre Epic Universe Theme Park on May 22

by John Nelson

ORLANDO, FLA. — Universal Orlando Resort’s newest theme park, Epic Universe, is officially opening on May 22, marking the first major theme park to open in Central Florida in 26 years, according to CNN. The new park will include five distinct components: Celestial Park, The Wizarding World of Harry Potter’s Ministry of Magic, Super Nintendo World, How to Train Your Dragon – Isle of Berk and Dark Universe. According to multiple media outlets, Epic Universe is estimated to have cost roughly $7.7 billion to build, although Universal Orlando Resort hasn’t commented on the new park’s price tag. At 750 acres, including both guest areas and backstage space for employees, Epic Universe is also reported to be the largest singular theme park in the world. The main hub of Epic Universe will be Celestial Park, which offers guests two rides — a dual-track roller coaster and a carousel — as well as shops, restaurants and bars. From this hub, guests can choose to enter four other portals, with each leading to a different themed land. Dark Universe brings the famous “Universal Pictures Monsters,” including Dracula, the Wolf Man and the Invisible Man, to life, along with its anchor attraction, “Monsters Unchained: …

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AcquisitionsHospitalitySoutheastTennessee

Marcus & Millichap Arranges $5.9M Sale of Hampton Inn Hotel in Caryville, Tennessee

by John Nelson

CARYVILLE, TENN. — Marcus & Millichap has arranged the $5.9 million sale of a 62-room Hampton Inn hotel in Caryville, roughly 24 miles north of Knoxville via I-75. Located at 4459 Veterans Memorial Highway along Cove Lake, the 42,000-square-foot Hampton Inn was originally built in 1994. Amenities at the property include an outdoor swimming pool, fitness center and a business center. Alexandre Duong and Lucas Jalenak of Marcus & Millichap’s Cleveland and Nashville offices marketed the property on behalf of the undisclosed seller. Alexandre Duong and Kishan Patel from the firm’s Louisville office procured the buyer. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee for the deal. 

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