Hospitality

Kessler Collection Breaks Ground on $110M Boutique Hotel in Uptown Charlotte

by Camren Skelton June 1, 2018

CHARLOTTE, N.C. — The Kessler Collection has broken ground on the Grand Bohemian Hotel Charlotte, a 254-room hotel located in Charlotte’s Uptown district. The 15-story hotel is expected to open in 2020 and will feature 32 suites, a signature Poseidon Spa, indoor and outdoor event spaces, an open kitchen restaurant concept and a rooftop bar on the 16th floor with views of the Charlotte skyline. In addition, the boutique hotel will feature an art collection that pays tribute to the culture of Argentina. The Charlotte Business Journal reports development costs for the project total $110 million. “The Kessler Collection is extremely pleased to be in Charlotte and a part of the fabric of this beautiful city’s hospitality services,” says Richard Kessler, chairman and CEO of The Kessler Collection. “We look forward to bringing energy and animation to the city, to our location and to the hospitality experience.” The Grand Bohemian Hotel is located within walking distance to museums, restaurants and retail space. JE Dunn Construction is the general contractor for the project. The Kessler Collection’s portfolio includes nine boutique hotels located throughout the Southeast and Colorado, including two sister properties in Charleston, S.C., and Asheville, N.C. The Grand Bohemian brand is part …

June 1, 2018

Acquisitions Hospitality Kansas Midwest

Hunter Hotel Advisors Arranges Sale of 147-Room Hotel in Kansas City, Kansas

by Kristin Harlow May 31, 2018

KANSAS CITY, KAN. — Hunter Hotel Advisors has arranged the sale of the 147-room Hilton Garden Inn in Kansas City for an undisclosed price. Peachtree Hotel Group purchased the hotel from Fairwood Capital. The property is located next door to the Reardon Convention Center and offers more than 1,375 square feet of meeting and event space. David Perrin of Hunter Hotel Advisors brokered the transaction.

May 31, 2018

Acquisitions Hospitality Illinois Midwest

MCR Acquires Three Hotels in Champaign, Illinois

by Kristin Harlow May 30, 2018

CHAMPAIGN, ILL. — MCR has acquired three Hilton-branded hotels in Champaign near the University of Illinois campus. The purchase price was not disclosed. The properties include the 104-suite Home2 Suites by Hilton, the 99-room Hilton Garden Inn and the 98-suite Homewood Suites by Hilton. All properties feature fitness centers, pools, convenience stores, meeting space and free Wi-Fi. The sellers were not disclosed. MCR is the seventh-largest hotel owner-operator in the country and has invested in and developed 103 hotels with more than 12,000 rooms in 27 states. MCR’s hotels operate under 11 brands. The company maintains offices in New York City and Dallas.

May 30, 2018

Development Hospitality Midwest Ohio

DoubleTree by Hilton Opens in Youngstown, Ohio

by Kristin Harlow May 30, 2018

YOUNGSTOWN, OHIO — The 125-room DoubleTree by Hilton Youngstown Downtown has opened in northeastern Ohio. Marshall Hotels & Resorts manages the 12-story hotel, while Pan Brothers Associates Inc. owns the property. Located at 44 E. Federal Plaza, the property was formerly known as the Stambaugh Building, an office building that opened in 1907. Hotel amenities include a business center, fitness center, Hilton’s Made Market and 5,300 square feet of meeting and event space. Guests can also dine at the Bistro 1907 restaurant.

May 30, 2018

Development Hospitality Texas

Arch-Con Tops Out 16-Story Hotel Near Texas Medical Center in Houston

by Taylor Williams May 29, 2018

HOUSTON — Arch-Con Construction, a general contractor with offices in Houston and Dallas, has topped out Residence Inn Medical Center, a 16-story hotel in Houston. Located near the Texas Medical Center and NRG Stadium on the city’s south side, the hotel will total 182 rooms upon completion, which is slated for February 2019. Amenities will include an indoor pool, fitness center and four conference/meeting rooms on the second floor. Moody National Cos. is the project developer, and Mitchell Carlson Stone Inc. is the architect.

May 29, 2018

Development Hospitality Southeast Tennessee

Songy Highroads Tops Out Construction on 201-Room Hyatt House Hotel in Nashville

by Camren Skelton May 24, 2018

NASHVILLE, TENN. — Atlanta-based developer Songy Highroads, in partnership with Hyatt Hotels Corp., has topped out construction on Hyatt House Nashville, a 201-room hotel located in Nashville’s West End district. Rising 15 stories on Hayes Street near the intersection of 21st Avenue, the hotel is located one block from Vanderbilt University, Saint Thomas Midtown Hospital and TriStar Centennial Medical Center. Wakefield Beasley & Associates is designing the hotel, and Reeves Young is the general contractor. The development team expects to wrap up construction on the hotel in early 2019.

May 24, 2018

Development Hospitality Massachusetts Northeast Top Stories

Omni Breaks Ground on $550M Boston Seaport Hotel

by David Cohen May 23, 2018

BOSTON — Omni Hotels & Resorts has broken ground on the $550 million Omni Boston Seaport Hotel, a 21-story, 1,055-room hotel in Boston’s Seaport district. Set to open in late 2020 on a two-acre parcel at the corner of Summer and D streets, the hotel will feature 100,000 square feet of meeting and event space that includes the largest hotel ballroom in the Seaport District. Other amenities will include an urban rooftop pool deck with an event space featuring views of Boston’s skyline, all-day restaurant, retail shop, fitness center and spa. Once completed, the Omni Boston Seaport will become the city’s fourth largest hotel, according to the developer. “This project’s hotel, retail, restaurant and outdoor space is a welcome addition to Boston’s Seaport District and will lead to expanded economic opportunities for many businesses within the Commonwealth,” Massachusetts Governor Charlie Baker said at the groundbreaking. “Our administration looks forward to continuing to work together with partners at the local level and in the private sector to support economic development in communities across Massachusetts.” The Massachusetts Port Authority (Massport) tapped Omni Hotels & Resorts, along with a team from New Boston Hospitality, in 2017 to develop the hotel. The project is estimated …

May 23, 2018

Acquisitions Hospitality Top Stories

Blackstone to Acquire LaSalle Hotel Properties for $4.8B

by Taylor Williams May 21, 2018

BETHESDA, MD. — Affiliates of global asset management firm Blackstone have agreed to acquire Maryland-based LaSalle Hotel Properties in an all-cash transaction valued at roughly $4.8 billion. The deal is expected to close during the third quarter. LaSalle’s portfolio spans 104,000 guestrooms across 41 properties in 11 markets. Under the terms of the agreement, Blackstone will acquire all outstanding shares of LaSalle’s common stock at $33.50 per share. This price represents a premium of about 35 percent over the company’s stock price of $24.84 per share at the time the deal was proposed. LaSalle’s stock price closed at $31.90 per share on Friday, May 18, up from $28.53 per share in mid-May 2017. “After careful consideration of multiple proposals received, the board determined that this transaction represents the most compelling opportunity for LaSalle’s shareholders,” said Stuart Scott, chairman of the board for LaSalle. “This transaction will deliver a significant premium with immediate and certain cash value.” Blackstone submitted a winning bid after hospitality REIT Pebblebrook Hotel Trust offered to acquire LaSalle in late April. Local news outlet WTOP reports that Pebblebrook, which is also based in Bethesda, entered a bid of $3.7 billion. However, in a statement released this morning, Pebblebrook claimed …

May 21, 2018

Hospitality Iowa Loans Midwest

PMZ Arranges $13M Permanent Loan for 115-Room Hotel in Bettendorf, Iowa

by Kristin Harlow May 18, 2018

BETTENDORF, IOWA — PMZ Realty Capital LLC has arranged a $13 million permanent loan for the Hilton Garden Inn Bettendorf/Quad Cities. The 115-room hotel, built two years ago, includes a fitness center, business center and 2,400 square feet of meeting and event space. The loan will provide the undisclosed borrower with proceeds to start on two new hotel projects, according to Peter Berk, president of PMZ. The lender was not disclosed.

May 18, 2018

Development Hospitality Texas

Kalahari Begins Work on $350M Hotel, Convention Center in Metro Austin

by Taylor Williams May 17, 2018

ROUND ROCK, TEXAS — Wisconsin-based Kalahari Resorts & Conventions, a developer of luxury resorts with convention centers and indoor water parks, has begun work on its newest property in the northern Austin metro of Round Rock. According to local news station KVUE, the project is valued at roughly $350 million. The property will be situated on 351 acres along U.S. Highway 79. The hotel will total 975 guestrooms, while the convention center and indoor water park will span a minimum of 150,000 and 200,000 square feet, respectively. The opening is slated for late 2020.

May 17, 2018

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