Hospitality

MCR Development Completes Renovation of Courtyard by Marriott Brownsville

by Haisten Willis August 24, 2016

BROWNSVILLE, TEXAS — MCR Development LLC has completed a renovation of the Courtyard by Marriott Brownsville, a 90-room select-service hotel. Located off I-69 East, the newly renovated hotel features an updated exterior with a stucco façade. The renovation of the hotel’s exterior follows recently completed updates to the interior, which included upgrading the lobby and guestrooms and the addition of a bistro. The hotel is located near Mitte Cultural District and the University of Texas at Brownsville.

August 24, 2016

Vine Street Matthews Develops 51-Story, Dual-Branded Hotel in Philadelphia

by Amy Works August 23, 2016

PHILADELPHIA — Vine Street Matthews, a joint venture between Matthews Southwest and Vine Street Developers, is developing a dual-branded hotel facility located at 15th and Chestnut streets in Philadelphia. Designed by Cope Linder Architects, the 51-story project will feature the 295-room W Philadelphia and the 460-room Element Philadelphia Hotel, both operated by Starwood Hotel & Resorts Worldwide. Slated to open in 2018, the 773,500-square-foot property will feature panoramic city views, an outdoor pool bar and terrace, meeting and banquet facilities, food and beverage venues, prime retail space and parking for 171 cars. The property is owned by Chestlen Development, an entity controlled by Brook Lenfest. The project team also includes O’Donnell & Naccarato and Tutor Perini Building Corp.

August 23, 2016

Hospitality Loans New York Northeast

PMZ Realty Capital Arranges $71M Loan for Hotel Portfolio in Four States

by Amy Works August 23, 2016

NEW YORK CITY — New York City-based PMZ Realty Capital has arranged a $71 million loan to refinance a four-property Hilton portfolio. The proceeds will be used by the undisclosed borrower to repay the first mortgage and mezzanine debt that has matured, as well as fund upcoming capital expenditure improvements throughout the portfolio. The portfolio includes the 140-room Hilton Garden Inn Ridgefield Park in Ridgefield Park, N.J.; the 125-room Hampton Inn & Suites in Kissimmee, Fla.; the 150-room Embassy Suites in Palmdale, Calif.; and the 192-suite Homewood Suites by Hilton in Nashville, Tenn. Michael Sonnabend of PMZ Realty Capital arranged the loan for the borrower.

August 23, 2016

Hospitality Montana Western

The Hotel Group Opens Rebranded DoubleTree by Hilton Billings

by Nellie Day August 23, 2016

BILLINGS, MONT. — The Hotel Group has completed a multi-million-dollar renovation on the newly rebranded, 289-room DoubleTree by Hilton Billings. The transformation includes a lobby redesign, updated guest rooms and meeting spaces, new furnishings and amenities. The hotel features 16,000 square feet of flexible meeting space that can accommodate business conferences, banquets and other events for up to 400 guests. There are also three additional ballrooms and 15 meeting rooms. DoubleTree by Hilton Billings is three miles from Billings Logan International Airport.

August 23, 2016

Hospitality Louisiana Southeast Top Stories

Laguna Development Corp., Eagle Holdings to Acquire Isle of Capri Casino Hotel Lake Charles in Louisiana for $134.5M

by Katie Sloan August 23, 2016

WESTLAKE, LA. — Kicks Entertainment LLC, a newly formed entity owned by Albuquerque, N.M.-based Laguna Development Corp. and Eagle Holdings LLLP, has agreed to acquire Isle of Capri Casino Hotel Lake Charles in Westlake for $134.5 million. The casino is located in Southwest Louisiana, approximately midway between New Orleans and Houston, Texas. The property — to be acquired from Isle of Capri Casinos Inc. (NASDAQ: ISLE) — includes a 50,000-square-foot riverboat casino, a 493-room hotel, a variety of dining and beverage outlets and covered parking, according to reports by Albuquerque Business First. Isle of Capri Casinos has owned and operated the Lake Charles location for over 20 years. The sale is expected to close in late 2017 or early 2018. Isle of Capri Casino Hotel Lake Charles features 1,150 slot machines, 35 table games, 13 poker tables, two hotels totaling 490 rooms, three restaurants, 14,000 square feet of meeting/banquet space, an RV park and a concert venue. Laguna Development Corp. is a wholly owned subsidiary of Pueblo of Laguna. The Native American Pueblo also owns Dancing Eagle Casino, Route 66 Casino and Casino Xpress in New Mexico. Isle of Capri Casinos Inc. owns or operates a portfolio of 14 casinos …

August 23, 2016

Hospitality Michigan Midwest

NAI Wisinski Arranges Sale of Two Land Parcels in Grand Rapids for Hotel Developments

by Christina Cannon August 22, 2016

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the sale of two vacant parcels of land in Grand Rapids for the future development of two hotels. West Michigan Investment Properties sold the property, located at 4888 Town Center Drive, to Grand Hospitality Management, which plans to build a Holiday Inn Express on the 5.4-acre site. Grand Hospitality Management also acquired a 2.7-acre land parcel from Mitul Patel and plans to build a Marriot hotel on the site. Construction on both hotels in slated to start next year. Dave Denton of DAR Development represented Grand Hospitality Management in both deals. Rod Alderink of NAI Wisinski represented Wes Michigan Investment Properties in the first transaction, and Bill Tyson and Todd Leinberger of NAI Wisinski represented Mitul Patel in the second deal.

August 22, 2016

Hospitality Texas

MJ Rome Arranges Sale of Holiday Inn Express & Suites Irving

by Haisten Willis August 19, 2016

IRVING, TEXAS — MJ Rome has advised the seller in the recent sale of the 163-room Holiday Inn Express & Suites located in Irving near the DFW International Airport. MJ Rome, a Dallas-based hotel broker, represented Atlas Hospitality Ltd., a local investment group, in the sale. Built in 1989, the three-story Holiday Inn Express and Suites offers oversize, one- and two-room suites, complimentary airport shuttle, 2,500 square feet of meeting space, an outdoor pool and spa, fitness room and a business center.

August 19, 2016

Hospitality Mixed-Use Multifamily Office Retail Texas

Hillwood, Howard Hughes Launch 130-Acre Mixed-Use Development Within AllianceTexas

by Haisten Willis August 18, 2016

WESTLAKE, TEXAS — Hillwood and The Howard Hughes Corp. (NYSE: HHC) have launched a 130-acre mixed-use development at Circle T Ranch, a 2,500-acre master planned community in Westlake that is part of the larger 18,000-acre AllianceTexas development. The project, which is situated at the junction of State Highways 114 and 170, will include more than 2 million square feet of office, retail and entertainment space and will be anchored by the 500,000-square-foot corporate campus for Charles Schwab Corp. The planned mixed-use development will include 1.2 million square feet of combined Class A mid-rise office space with retail and entertainment uses, as well as a 200-room hotel and residential options. The project will also include land for parks, open space and creeks. Nature trails and a fitness center in the retail district will offer individuals additional health and fitness options.

August 18, 2016

Hospitality Texas

Best Western Plus Norman Opens Adjacent to Norman Regional HealthPlex

by Haisten Willis August 18, 2016

NORMAN, OKLA. — The four-story Best Western Plus Norman has opened at 3100 Medical Park Place. Located adjacent to the Norman Regional HealthPlex, the 116-room hotel includes seven extended-stay suites with kitchenettes. Amenities include a 700-square-foot conference center, fitness center, heated outdoor pool, grilling area and an electric car charging station. Designated as a rider-friendly hotel in Best Western’s national partnership with Harley-Davidson, the hotel also features a bike wash station. Developed and operated by Wichita, Kan.-based Hospitality Management LLC, a Martens Co., the $13 million project employs 25 people. Linsey Kennedy is the hotel’s general manager, and Jodi Helms-Jones is director of sales. This is Hospitality Management’s third Best Western property and its fourth hotel overall. The company operates the Best Western and EconoLodge hotels in Blackwell, Okla., as well as the Best Western Plus in Arkansas City, Kan. Wichita-based Krehbiel Architecture and Conco Construction handled the design and build of the project.

August 18, 2016

Hospitality North Carolina Southeast

Hilton Garden Inn Opens 700th Hotel in Downtown Asheville

by John Nelson August 18, 2016

ASHEVILLE, N.C. — Hilton Worldwide has opened Hilton Garden Inn Asheville Downtown, its 700th Hilton Garden Inn hotel worldwide. The 140-room hotel is located at 309 College St., within walking distance of Pack Square, art galleries, breweries and shopping. The hotel will feature a rooftop bar, 24-hour convenience store called The Pavilion Pantry and a farm-to-table restaurant called Iron Hen Cafe. Other amenities include complimentary Wi-Fi access, a 24-hour business center, fitness center, indoor swimming pool and spa. Winston-Salem, N.C.-based Quality Oil Co. LLC manages the Hilton Garden Inn Asheville Downtown, which joins Hilton Garden Inns operating in all 50 states and in 31 countries.

August 18, 2016

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