Hospitality

Gateway Jax to Redevelop Historic Ambassador Hotel in Jacksonville as Part of $2B Pearl Square Project

by John Nelson March 20, 2025

JACKSONVILLE, FLA. — Locally based development firm Gateway Jax plans to redevelop the historic Ambassador Hotel located at 420 N. Julia St. in downtown Jacksonville. The developer, along with hotelier The Indigo Road Hospitality Group, will restore the 1924-era property into a hotel with at least 100 guestrooms, a high-end restaurant and bar, conference space and other amenities for business and leisure travelers. In addition to the hotel, Gateway Jax purchased an adjacent land parcel where the company plans to deliver a 487-space parking garage, as well as the historic 404 N. Julia St. building that will be redeveloped in the future. The new hotel will be part of Gateway Jax’s eight-block, $2 billion Pearl Square mixed-use development. Gateway Jax, which is sponsored by DLP Capital and JWB Real Estate Capital, manages a private equity fund focused on downtown Jacksonville developments.

March 20, 2025

Development Hospitality Utah Western

Extell Development, Hilton to Develop Canopy by Hilton Hotel at Deer Valley East Village in Park City

by Amy Works March 20, 2025

PARK CITY, UTAH — New York-based Extell Development and Hilton have announced plans to develop a new Canopy by Hilton hotel at Deer Valley East Village, North America’s first luxury alpine village to be developed since 1981. Slated to open in summer 2026, the 180-key hotel will mark Canopy by Hilton’s first hotel in Utah. Overlooking the Jordanelle Reservoir and Deer Valley Resort, Canopy by Hilton at Deer Valley will offer ski access, an apres-ski experience and access to a variety of restaurants. The hotel design features architecture by The Richardson Design Partnership and interior design by DLR/Brayton Hughes. The hotel will offer a curated suite of onsite amenities including a pool and hot tub, steam room and sauna, fitness room and golf simulator. Additionally, the hotel will offer a dedicated ski reception lobby and ski locker room, meeting and conference facilities and two levels of underground parking accommodating 176 stalls. Canopy at Deer Valley will feature more than 9,600 square feet of food-and-beverage facilities, including a signature restaurant, an apres-ski lounge, a grab-and-go coffee shop and a rooftop lounge with mountain views.

March 20, 2025

Development District of Columbia Hospitality Southeast

TPG Hotels, Douglas Development Open 107-Room Canal House of Georgetown Hotel in DC

by John Nelson March 20, 2025

WASHINGTON, D.C. — A partnership between TPG Hotels & Resorts and Douglas Development has delivered Canal House of Georgetown, a 107-room hotel located along the Chesapeake & Ohio Canal in Washington, D.C.’s Georgetown district. Operating as a Tribute Portfolio hotel, the property represents the 1 millionth room in Marriott’s U.S. portfolio. The hotel is an adaptive reuse of a former office building and two historic townhomes and features a library lounge, private courtyard, fitness center and onsite restaurant C&O Lounge.

March 20, 2025

Development Hospitality Loans Mixed-Use Multifamily Southeast Tennessee Top Stories

Walker & Dunlop Arranges $253M Construction Loan for Pendry Nashville Hotel and Condominium Tower

by John Nelson March 20, 2025

NASHVILLE, TENN. — Walker & Dunlop (NYSE: WD) has arranged a $253 million construction loan for the development of the Pendry Nashville and Pendry Residences Nashville, a luxury 30-story hotel and condominium tower located in the city’s Gulch district. Pendry Hotels & Resorts, in partnership with investment and development firms SomeraRoad and Trestle Studios, plan to immediately break ground on the project. Upon completion, Pendry Nashville will include 180 guestrooms and suites, while 146 for-sale residences will be offered at Pendry Residences. The Pendry Nashville Hotel & Residences development is part of Phase III of the Paseo South Gulch master-planned micro-neighborhood, a 1 million-square-foot mixed-use district developed by SomeraRoad. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Sean Bastian and Jackson Irwin of the Walker & Dunlop New York Capital Markets team arranged the loan. Bank OZK and InterVest Capital Partners provided the financing package on behalf of SomeraRoad and Trestle Studio. Jay Morrow and Carter Gradwell of the Walker & Dunlop Hospitality team represented SomeraRoad throughout the financing process, working in collaboration with the firm’s New York Capital Markets team. “Having worked with SomeraRoad to capitalize prior phases of their Paseo South Gulch master-planned development, we are …

March 20, 2025

Hospitality Loans Texas

PMZ Realty Capital Arranges $14.5M Loan for Refinancing of Metro Fort Worth Hotel

by Taylor Williams March 14, 2025

HALTOM CITY, TEXAS — PMZ Realty Capital has arranged a $14.5 million loan for the refinancing of the 125-roomHoliday Inn Express & Suites Haltom City-Fort Worth hotel. The hotel, which is located on the northern outskirts of Fort Worth, opened last fall and offers amenities such as an outdoor pool, fitness and business centers, 3,000 square feet of meeting and event space and complimentary breakfast. The borrower and direct lender were not disclosed.

March 14, 2025

Development Hospitality Texas

Partnership to Develop 300-Room Hotel, Convention Center in Cedar Park, Texas

by Taylor Williams March 12, 2025

CEDAR PARK, TEXAS — A partnership between Indiana-based Great Lakes Capital, Nebraska Furniture Mart and the City of Cedar Park, located north of Austin, will develop a 300-room hotel and 30,000-square-foot convention center. The Marriott-branded hotel will anchor the CedarView mixed-use development and will offer a pool, full-service restaurant and a breakfast café. Construction is slated to begin in May, with an anticipated opening date of early 2027.

March 12, 2025

Hospitality Loans North Carolina Southeast

Cronheim Hotel Capital Arranges $54M Refinancing for Homewood Suites Hotel in Uptown Charlotte

by John Nelson March 11, 2025

CHARLOTTE, N.C. — Cronheim Hotel Capital has arranged a $54 million loan for Homewood Suites by Hilton Charlotte Uptown First Ward, a 211-room hotel located at 508 N. College St. in Uptown Charlotte. Beau Williams and Drew Gilligan of Cronheim Hotel Capital arranged the financing on behalf of the borrower, Raleigh-based Concord Hospitality. The direct lender was not disclosed. According to the property website, the Homewood Suites hotel features a lobby, lounge, bar, restaurant, business center, fitness center and luggage storage. The 13-story hotel opened in 2023, according to local media outlets.

March 11, 2025

Acquisitions Hospitality Texas

Marcus & Millichap Brokers Sale of Vacant 243-Room Hotel in Southwest Houston

by Taylor Williams March 11, 2025

HOUSTON — Marcus & Millichap has brokered the sale of a vacant 243-room hotel located at 9090 Southwest Freeway in southwest Houston. The property, which has been closed since 2019, was previously operated under one of the IHG Hotels & Resorts brands and offers amenities such as an indoor pool, outdoor sundeck, fitness center, business center, gift shop and a guest laundry room. Chris Gomes and Tulsee Nathu of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed.

March 11, 2025

Hospitality Illinois Midwest

Stantonic Interior Design Firm Unveils Rebranding in Chicago

by Kristin Harlow March 11, 2025

CHICAGO — Stantonic, a Chicago-based interior design and procurement firm, has announced that it is officially dropping the company name, “STANTON Interior Concepts” from the brand, effective immediately. The company says the rebranding enables the organization to further diversify its portfolio without the constraints of a strong name association, while also enhancing brand clarity and consistency directed toward the hospitality sector. Stantonic was founded in 2001.

March 11, 2025

Development Hospitality New Jersey Northeast

Ironstate, Pegasus Complete Renovation of 138-Room Hotel in Harrison, New Jersey

by Taylor Williams March 10, 2025

HARRISON, N.J. — A partnership between two local firms, Ironstate Development Co. and Pegasus Group, has completed the renovation of the 138-room Element Harrison-Newark hotel in Northern New Jersey. The hotel, which operates under the Marriott family of brands, now features redesigned guestrooms with kitchenettes, rainfall showers and windows that maximize natural light. In addition, the renovation involved equipping meeting/event spaces with new furnishings and technological infrastructure and upgrading the fitness center. The project team also added a new food-and-beverage concept.

March 10, 2025

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