Hospitality

Champion Hotels Acquires 354-Room Tower Hotel in Oklahoma City

by Taylor Williams December 1, 2017

OKLAHOMA CITY — Champion Hotels, an Oklahoma City-based hospitality operator, has acquired the 354-room Tower Hotel located at 3233 Northwest Expressway in northwest Oklahoma City. The property, which operated as a full-service Marriott hotel until 2013, will be converted into a 215-room Embassy Suites hotel within the next 12 months. The project will not only convert the hotel into a two-room suite layout, it will also involve the construction of an additional 95-room limited service property adjacent to the main hotel. HotelBrokerOne and NAI Global brokered the sale. The seller was not disclosed.

December 1, 2017

J.P. Morgan Chase Provides $64M Refinancing for Radisson Blu Aqua Hotel in Chicago

by Kristin Harlow December 1, 2017

CHICAGO — J.P. Morgan Chase & Co. has provided a $64 million loan for the refinancing of the Radisson Blu Aqua Hotel in downtown Chicago. The 334-room luxury hotel occupies floors four through 18 of the Aqua Tower, an 82-story building. The hotel features a 12,000-square-foot ballroom, 28,500 square feet of meeting space, an 8,000-square-foot fitness center, swimming pools, yoga space and Filini’s restaurant. The location at 221 North Columbus Drive is proximate to the Loop financial district, Millennium Park, North Michigan Avenue and the Chicago lakefront. Danny Kaufman, Jeff Bucaro and Nicole Aguiar of HFF arranged the 10-year, fixed-rate loan on behalf of the borrower, a partnership between Al Rayyan Tourism Investment Co., Magellan Development Group and Carlson Rezidor Hotel Group.

December 1, 2017

Colorado Hospitality Western

Laurus Corp. Opens 285-Room Hotel in Vail, Colorado

by Nellie Day November 30, 2017

VAIL, COLO. — Laurus Corp. has opened the 285-room Hotel Talisa in Vail. The hotel, formerly known as Vail Cascade Resort and Spa, is located at 1300 Westhaven Drive along Gore Creek. The asset underwent a $60 million renovation and rebranding. Hotel Talisa is Vail’s only true ski-in/ski-out luxury resort, according to Laurus. The hotel will offer regular events, including a social hour, complimentary once-weekly beauty treatments, s’mores served creekside, and yoga classes followed by champagne. Hotel Talisa also offers three culinary venues, each sourcing ingredients from local Colorado ranchers and farmers. Two Roads Hospitality will continue to manage the property.

November 30, 2017

Hospitality Texas

Owner to Invest $78M to Renovate Plaza Hotel in El Paso

by Taylor Williams November 29, 2017

EL PASO, TEXAS — Paul Foster, the owner of the Plaza Hotel in El Paso, will invest approximately $78 million in renovations of the vacant property, which was built in 1930 and is a historic landmark. Foster’s team plans to convert the building into a boutique hotel with a minimum of 100 rooms, as well as 6,500 square feet of restaurant and bar space and 7,600 square feet of meeting space. Construction is expected to begin in early 2018.

November 29, 2017

Hospitality Northeast Pennsylvania

MCR Purchases Hilton Garden Inn in Allentown, Pennsylvania, for $15M

by Amy Works November 29, 2017

ALLENTOWN, PA. — MCR has acquired the Hilton Garden Inn Allentown West, located at 230 Sycamore Road in Allentown, for $15 million. The 111-room hotel features an indoor pool, a fitness center, free Wi-Fi, 1,330 square feet of meeting space, The Great American Grill, a 24-hour business center and a 24-hour Pavilion Pantry. Guest rooms offer spacious work areas, 42-inch flat-screen televisions and coffeemakers. The name of the seller was not released.

November 29, 2017

Georgia Hospitality Southeast

Songy Highroads, Hyatt to Develop New Hotel in Downtown Atlanta

by Camren Skelton November 29, 2017

ATLANTA — A 50/50 joint venture between affiliates of Atlanta-based developer Songy Highroads LLC and Hyatt Hotels Corp. has acquired a site in downtown Atlanta with plans to develop a new Hyatt Place hotel. Other terms of the transaction were not disclosed. The site, located at the corner of Lucky and Latimer streets, is located directly across from the Georgia Aquarium and one block from Centennial Olympic Park. An abandoned, two-story commercial building and public parking lot currently occupy the site, and both will be demolished to make way for the new hotel. Pricing, permitting and financing are underway, with a construction commencement date to be determined.

November 29, 2017

Hospitality Kansas Midwest

Midas Hospitality Breaks Ground on 123-Room Hotel in Overland Park, Kansas

by Kristin Harlow November 29, 2017

OVERLAND PARK, KAN. — Developer and manager Midas Hospitality Group has broken ground on a 123-room Home2 Suites by Hilton in Overland Park. The 65,000-square-foot extended-stay hotel will be located at 7121 W. 135th St. Completion of the $16.5 million project is slated for late 2018. Home2 Suites will offer fully equipped kitchens, a fitness center, business center, indoor pool, outdoor living area and pet-friendly environment. Thomas Construction is the general contractor, while Gray Design is the architect.

November 29, 2017

Connecticut Hospitality Northeast Top Stories Western

Summit Hotel Properties Acquires Four-Hotel Portfolio for $164M

by Nellie Day November 29, 2017

AUSTIN, TEXAS — Summit Hotel Properties (NYSE: INN) has purchased a four-property hotel portfolio for $164 million. The portfolio contains a total of 652 guestrooms. The acquisition includes the 207-room Courtyard New Haven at Yale in New Haven, Conn.; the 148-room Hilton Garden Inn Boston/Waltham in Waltham, Mass.; the 175-room Residence Inn Cleveland Downtown in Cleveland; and the 122-room Homewood Suites by Hilton Tucson/St. Philip’s Plaza University in Tucson, Ariz. The Courtyard New Haven is situated adjacent to Yale University. It is the only Marriott-branded hotel within nearly 10 miles of downtown New Haven. The hotel underwent a renovation of all public spaces and guestrooms in 2016. The Hilton Garden Inn Boston/Waltham is centrally located along the Route 128/Interstate 95 corridor known as America’s Technology Highway. The hotel benefits from strong corporate demand with 16.4 million square feet of office space within three miles of the property and another 1 million square feet under construction. The recently renovated Residence Inn Cleveland Downtown is positioned within the Central Business District’s 9.5 million square feet of Class A office space, which includes the headquarters of Fortune 500 companies Sherwin-Williams, KeyCorp and Cliffs Natural Resources. The Homewood Suites by Hilton Tucson/St. Philip’s Plaza …

November 29, 2017

Hospitality Midwest Wisconsin

94-Suite Hotel Opens in Downtown Milwaukee

by Kristin Harlow November 28, 2017

MILWAUKEE — Homewood Suites by Hilton has opened in downtown Milwaukee. The 94-suite hotel is located at 500 N. Water St. The hotel occupies a completely renovated historic building in downtown Milwaukee close to area attractions and convention space, the Wisconsin Center and the BMO Harris Bradley Center. Developed and owned by Button Block Holdings LLC and managed by Kinseth Hospitality Cos., the hotel features complimentary breakfast, Wi-Fi, a fitness center and indoor pool.

November 28, 2017

Hospitality Nevada Western

Heritage Inn Opens 158-Room Homewood Suites Las Vegas City Center

by Nellie Day November 27, 2017

LAS VEGAS — The 158-room Homewood Suites by Hilton Las Vegas City Center has opened in Las Vegas. The hotel is located at 4625 Dean Martin Drive, half a mile from the Las Vegas Strip. Heritage Inn and Suites of Las Vegas owns the property, which Tharaldson Hospitality Management Co. manages. It offers studio to two-bedroom units that feature fully equipped kitchens, as well as separate living and sleeping areas.

November 27, 2017

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