HOUSTON — HFF has closed the sale of DoubleTree by Hilton Houston Downtown, a full-service hotel located at 400 Dallas St. within Allen Center in downtown Houston. The hotel features 350 guest rooms, 18,000 square feet of function space, Trofi Restaurant & Bar, Atrium Lobby Lounge and 24-hour fitness and business centers. John Bourret, Austin Brooks, Colby Mueck and Daniel Peek of HFF represented the undisclosed seller. The name of the buyer and acquisition price were not released.
NEW YORK CITY — Hilton Hotels & Resorts has opened Hilton Brooklyn New York, a 196-key hotel located at 140 Schermerhorn St. in Brooklyn’s Boerum Hill neighborhood. Designed by Stonehill & Taylor, the 19-story hotel features 2,300 square feet of function space, accommodating up to 140 attendees for meetings and social events, a 24-hour fitness center, a business center, grab-and-go pantry and concierge services. The hotel is owned by Flank and managed by Urgo Hotels & Resorts.
MIAMI BEACH, FLA. — New York-based HKS Capital Partners has arranged the $45 million refinancing of the Sagamore Hotel, a 94-suite upscale hotel situated at the crossroads of the Lincoln Road Mall and Collins Avenue in South Beach’s historic Art Deco District. The borrower, The Ben Josef Group, will use the loan to partially recapture $35 million of equity and put $10 million toward renovations. John Harrington of HKS Capital arranged the five-year loan with 30 months of interest-only payments during the renovation period through Bank Hapoalim B.M., one of Israel’s largest banks. The Ben Josef Group and the Insite Group, a South Florida-based development firm, paid $63 million in cash for the five-story hotel in March 2016. The new owners plan to renovate and reposition a portion of the floor plan to yield an additional 48 guest rooms, which will result in 142 guest suites, including oceanfront penthouses and two-story oceanfront bungalows.
BRYAN, TEXAS — Managed by Trust Hospitality, The Stella is slated to open in March 2017 in Bryan. Located at the Texas A&M Biocorridor, the hotel will feature 176 guest rooms and suites, 10,000 square feet of indoor event space, 12,000 square feet of outdoor space and a restaurant. The hotel was designed by FAB Studio with interiors by Design DMU.
VAIL, COLO. — CBRE Hotels has arranged the sale of the Four Seasons Resort and Residences in Vail for $121 million. The 134-room resort is located at 1 Vail Road, and includes 121 hotel guestrooms and 13 condominiums. The resort offers slope-side ski-valet facilities located adjacent to Gondola One in Vail Village. Additional amenities include a 14,935-square-foot spa, over 7,000 square feet of flexible meeting and event space, dining and retail space. Bernard Van der Lande of CBRE Capital Advisors, along with Mark Darrington and Larry Kaplan of CBRE Hotels, represented the seller, Barclays. Barclays acquired the property out of bankruptcy when it was under construction in 2009. New York City-based Extell Development Co. was the buyer. — Kristin Hiller
MIAMI — New York-based developer Helm Equities plans to bring a 21c Museum Hotel to HELM Miami, a mixed-use development in Miami’s Design District. The boutique hotel will feature 135 rooms, an art museum free of charge to the public, restaurant, rooftop pool terrace, bar and lounge and meeting spaces. Deborah Berke Partners will lead the design team for the new hotel. In addition to the hotel, HELM Miami will feature a sculpture garden, green space and 325,000 square feet of retail, dining and workspace for artists, as well as on-site parking. Thomas Citron and Mitchell Friedel of NGKF will lease HELM Miami’s retail component. Paul Faver of JB Real Estate Investment Group LLC advised Helm Equities on the transaction with Louisville, Ky.-based 21c Museum Hotels.
NEW YORK CITY — Committed occupancy and average daily rates (ADR) for the first quarter of 2017 are showing major signs of growth in the hotel sector. Group travel is leading the way despite the continuing lag in transient booking pace in the fourth quarter of 2016, according to new data from TravelClick’s November 2016 North American Hospitality Review (NAHR). TravelClick defines a transient traveler as an individual business or leisure traveler. Transient booking pace is the rate by which these travelers book their reservations. Committed occupancy is defined as the sum of transient rooms and group rooms committed divided by capacity. The November NAHR looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays that are booked by Nov. 1, 2016, from the period of November 2016 to October 2017. Across all travel segments in the first quarter of 2017, occupancy and ADR are up 6.7 percent and 2.7 percent, respectively. Occupancy for the group segment is up 6.8 percent. “Even with the slowing transient reservation pace this month, especially within the business segment, hoteliers should look to the New Year for a promising outlook,” said John Hach, TravelClick’s senior industry …
NEW YORK CITY — A partnership between Quadrum Global, Simon Baron Development, Eagle Point Hotel Partners and KSNY has opened Arlo NoMad, a hotel located at 11 E. 31st St. in Manhattan’s NoMad neighborhood. The 250-key hotel features self-check-in/check-out kiosks, complimentary WiFi, bedside USB charging stations, music lounges, rooftop terrace and patios. This is the second Arlo hotel that Quadrum has opened in New York City.
DESTIN, FLA. — Memphis-based Dunavant Enterprises has opened its 170-room resort hotel in Destin known as The Henderson. Situated along the Gulf of Mexico and adjacent to a 208-acre state park, The Henderson features a spa, the Primrose restaurant, octagonal bar with panoramic Gulf views, rooftop terrace, two outdoor swimming pools with a lazy river, children’s club, 30,000 square feet of indoor and outdoor event space and private beach access. The Henderson is the anchor resort hotel of the still-developing Henderson Beach Resort, future phases of which include condominiums and villa-style resort accommodations. The existing beachfront Henderson Park Inn is also owned by Dunavant Enterprises. Salamander Hotels & Resorts manages The Henderson, which has created roughly 260 staff positions. The project team includes Atlanta-based architect Cooper Carry, Atlanta-based interior designer Kent Interior Design, Atlanta-based general contractor DPR Hardin and project manager Shannon Howell of Destin-based Devcon Services Group. Nightly rates for guest rooms range from $225 to $450 and from $595 to $1,250 for suites.
ROANOKE, VA. — Donohoe Real Estate Services/CORFAC International has arranged the $7.3 million sale of Holiday Inn Valley View, a 153-room hotel in Roanoke. Originally built in the 1980s as a Sheraton, the hotel is situated on 10 acres near the Roanoke-Blacksburg Regional Airport. The buyer, Roanoke Airport Hotel Partners LLC, plans to make renovations and brand updates to the hotel, which will continue to operate as a Holiday Inn. Bill Moyer and Charlotte Seale of Donohoe Real Estate Services/CORFAC International represented the seller, and Seale procured the buyer. Donohoe Real Estate Services/CORFAC International is a member of Hotels Brokers International.
