Hospitality

Quadrum, InSite Restore, Open Historic Hotel in South Beach

by John Nelson October 22, 2015

MIAMI BEACH, FLA. — Quadrum Global and InSite Group have opened Nautilus, a SIXTY Hotel in Miami Beach’s South Beach neighborhood. The partners purchased the property in 2011 and restored it into an upscale, 250-room property, which SIXTY Collective will operate. Originally built in the 1950s, Quadrum and InSite preserved and reconstructed the property’s porte cochere, 25-foot lobby ceilings, beveled windows, teal green tile, the famous Staircase to Nowhere and the Driftwood Room supper club. The rooms feature 48-inch TVs, vintage mini-bar chests, custom artwork and balconies with ocean views in select units. The property also features a penthouse suite on the eighth floor. The property’s amenities include a 1,890-square-foot heated saltwater pool with an underwater sound system, cabanas, pool bar, 24-hour fitness center and the Nautilus Cabana Club.

October 22, 2015

Colorado Hospitality Western

Urban Commons Buys Renaissance Hotel in Denver for $44M

by Nellie Day October 22, 2015

DENVER — Urban Commons has purchased the 400-room Renaissance Hotel in Denver for a reported $44 million. The hotel is located at 3801 Quebec St. in the Stapleton neighborhood. The hotel includes 11 suites and about 30,000 square feet of meeting and function space, including the 11,700-square-foot Colorado Ballroom. The Renaissance is situated near the expanding Enterprise Business Park. It will also be in close proximity to the FasTrack East Corridor light rail line that should debut in 2016. James Escarzega, Steve Michels and Stephanie Tsai of Cushman & Wakefield’s Global Hospitality Group represented the seller, Trifecta Hotel D Owner LLC.

October 22, 2015

Hospitality Texas

Acquire Completes Funding for DoubleTree by Hilton DFW Airport

by Haisten Willis October 21, 2015

DALLAS — Acquire Real Estate, a real estate crowd investing platform, has closed its investing fund for the DoubleTree by Hilton DFW Airport, a 282-room, eight-story hotel located adjacent to Dallas-Fort Worth Airport. The project attracted investors from across the country that contributed between $5,000 and $75,000. Acquire Real Estate provided $262,500 in funding for the hotel. Investors are projected to receive average annual returns above 20 percent paid quarterly over a seven- to 10-year term. The property is located less than two miles from Dallas/Fort Worth International Airport. Hotel amenities include 17,000 square feet of function space, a full-service business center and airport shuttle services. The Buccini/Pollin Group purchased the property in January 2015 for an undisclosed amount.

October 21, 2015

Hospitality Texas

NAI Partners Arranges Sale of Three-Acre Hotel Site in Metro Dallas

by Haisten Willis October 21, 2015

FORNEY, TEXAS — NAI Partners represented Forney Innkeepers in the disposition of three acres for a hotel site located in Forney, 21 miles east of Dallas. Forney is a secondary market and transportation corridor to downtown Dallas. The buyer is approved for a 72-room Holiday Inn Express development for the site. Lisa Hankamer of NAI Partners in Houston represented the seller in negotiating the sale to Bhavi Hospitality.

October 21, 2015

Hospitality Michigan Midwest

Residence Inn by Marriott Opens 110-Room Hotel in Ann Arbor

by Christina Cannon October 20, 2015

ANN ARBOR, MICH. — The Residence Inn Ann Arbor Downtown, part of the Marriott brand of hotels, has opened its doors. The six-story, 110-room hotel is located at 120 W. Huron St. First Martin Corp. developed the property, and First Hospitality Group Inc. is the management firm. According to Crain’s Detroit Business, the hotel anchors a $20 million mixed-use project. The hotel consists of 75 studio units, 20 one-bedroom units and 15 panoramic suites. The project also includes 6,000 square feet of retail space, which Colliers International is in charge of leasing up. The Residence Inn Ann Arbor Downtown is situated on the former site of the Ann Arbor Area Convention and Visitors Bureau building and the neighboring Greyhound Bus Depot. Amenities include in-suite kitchens, an indoor heated pool, a fitness center, complimentary breakfast, grocery delivery, shuttle service and Wi-Fi.

October 20, 2015

Hospitality New York Northeast

Apple Hospitality REIT Buys Two Syracuse Hotels for $42M

by Jeff Shaw October 19, 2015

SYRACUSE, N.Y. — Apple Hospitality REIT has closed on the acquisitions of the 102-room Courtyard by Marriott Syracuse Downtown at Armory Square and the 78-room Residence Inn by Marriott Syracuse Downtown at Armory Square for a combined purchase price of $42 million. The Courtyard and Residence Inn hotels, both located at 300 West Fayette Street within the historic Armory Square area of Downtown Syracuse, are approximately two miles from Syracuse University as well as the State University of New York Upstate Medical University and Upstate University Health System. Both hotels opened in 2013.

October 19, 2015

Hospitality Texas

Hyatt Regency Houston Galleria Opens

by Haisten Willis October 19, 2015

HOUSTON — The Hyatt Regency Houston Galleria has opened at 2626 Sage Road in Houston. The 14-story hotel, managed by Aimbridge Hospitality, marks the ninth Hyatt-branded hotel to open in the Houston area. The hotel is part of the 7.6-acre Galleria Plaza development, which includes retail, apartments and office towers. The development will also include Hyatt Place Houston Galleria, adjacent to Hyatt Regency Houston Galleria. The Hyatt Place hotel is under construction and is expected to open in early 2016. Hyatt Regency Houston Galleria features 325 rooms, including 20 suites and eight accessible rooms. The hotel features more than 11,000 square feet of functional space and an additional 7,800 square feet of lobby and gathering space. On the third floor is a heated, outdoor swimming pool and sun deck.

October 19, 2015

Hospitality Northeast Pennsylvania

Laurus Corp. Acquires DoubleTree by Hilton Hotel in Pittsburgh

by Amy Works October 16, 2015

PITTSBURGH — Laurus Corp. has acquired the DoubleTree by Hilton Hotel – Green Tree in Pittsburgh for an undisclosed price. The 460-room property recently underwent a $20 million top-to-bottom makeover and Laurus plans to invest $7 million to improve customer experience at the hotel by enhancing operations, delivering top-tier culinary experiences across the hotel’s existing restaurants and opening Asado Grill restaurant. The hotel features 40,000 square feet of flexible, multi-functional meeting space and a 13,000-square-foot indoor athletic training center. The hotel will be managed by TPG Hospitality. The name of the seller was not disclosed.

October 16, 2015

Hospitality Texas

Starwood Hotels to Open New Aloft Hotel in Metro Dallas

by Haisten Willis October 16, 2015

ALLEN, TEXAS — Starwood Hotels & Resorts plan to open a new Aloft hotel in the Dallas suburb of Allen. Located within the Watters Creek at Montgomery Farm mixed-used development, Aloft Allen is set to open in March 2018. Watters Creek Hospitality will own the property and Aimbridge Hospitality will manage the hotel. The property will feature 136 rooms. Facilities at Aloft Allen will include an outdoor pool, gym and bar. In addition, the hotel will offer 2,000 square feet of meeting space for business meetings and social gatherings. Guests will also be able to use their smart phone as a key. The technology is available at all Aloft, Element and W hotels.

October 16, 2015

Clarion Hotel Lexington Conference Center

Hospitality Kentucky Southeast

Huff, Niehaus Arranges $5.9M Sale of Hotel in Lexington

by John Nelson October 16, 2015

LEXINGTON, KY. — Huff, Niehaus & Associates Inc. has arranged the $5.9 million sale of the Clarion Hotel Lexington Conference Center in Lexington. The seller, Dogwood Hotels LLC, recently invested $1.2 million to renovate the 149-room hotel. The property sits on a 5.9-acre site off an I-75 exit. Lexington Hospitality Group LLC purchased the hotel from Dogwood and plans to add a restaurant. Brandt Niehaus, president of Huff, Niehaus and a member of Hotel Brokers International, represented the seller in the transaction.

October 16, 2015

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