ATLANTA — Atlanta-based Peachtree Hotel Group has purchased 10 hotels in the Southeast and Midwest for a combined $183 million. Four hotels are under contract for acquisition and the other six properties are in various stages of development. PHG’s management arm will operate all 10 hotels upon closing, which is expected within the next 60 days. The four properties under contract for acquisition span nearly 600 rooms and include two Hampton Inns, an Aloft and a DoubleTree conversion. The six hotels under development represent nearly 700 rooms across four states and include Marriott, Hilton, IHG and Starwood brand affiliations. Peachtree’s current portfolio comprises 65 hotel assets totaling 6,672 rooms.
ATLANTA — Los Angeles-based sbe and Atlanta-based Trillist Cos. Inc. have partnered to develop the SLS Atlanta Hotel & Residences in Midtown Atlanta. The mixed-use tower will feature 213 hotel room and suites, 56 condominium residences, dining options and meeting spaces. Ranging in size from 1,600 to 4,000 square feet, the residences will feature a mix of two-, three- and four-bedroom units. Trillist and sbe plan to break ground on the tower in early 2017 with completion slated for early 2019. Dakota Development, a subsidiary of sbe, will collaborate with Trillist on the property’s design and concept. SLS Atlanta Hotel & Residences will be situated near the Woodruff Arts Center, High Museum of Art, Midtown Mile and Piedmont Park.
BOLINGBROOK, ILL. — Peak Construction Corp. has broken ground on a four-story, 77,000-square-foot Marriott Residence Inn in Bolingbrook, approximately 30 miles south of Chicago. The hotel will feature 103 rooms, a swimming pool, outdoor patio with picnic area and a multi-purpose sports court. Hallmark Investment Corp. and Love Hotel Management Co. are overseeing the project. Norr Architects is providing architectural services, and Manhard Consulting Ltd. is the civil engineer. The project is slated for completion next spring.
MADISONVILLE, OHIO — Skanska has signed a $51 million contract with RBM Development to oversee construction of the Dolce Lifestyle Hotel and Conference Center in Madisonville, approximately 10 miles northeast of Cincinnati. The project is a redevelopment of a former warehouse site and will convert an existing parking garage into a 239-room, 131,233-square-foot boutique hotel and conference center. The full-service, nine-story hotel will feature meeting spaces, 16 event spaces, a rooftop garden, outdoor dining area and a combined restaurant and lounge. Construction is scheduled to begin this month and is slated for completion in December 2017.
ANN ARBOR, MICH — Lowe Enterprises Investors (LEI), in a joint venture with a foreign investment client, has acquired the 149‐room Hampton Inn Ann Arbor for an undisclosed price. LEI plans to renovate the guest rooms, bathrooms and fitness center. Amenities at the hotel, located at 925 Victors Way, include an indoor pool and spa tub, fitness center, complimentary hot breakfast and a 24-hour business center. Hodges Ward Elliott represented the undisclosed seller in the transaction.
NEW YORK CITY — Co-developers Hidrock Properties and The Buccini/Pollin Group have topped out Embassy Suites New York – Midtown Manhattan, the first Embassy Suites hotel in New York City. Located at 60 W. 37th St., the 40-story, 310-suite hotel features the Design Option III concept, which decreases the amount of land needed while increasing efficiencies in the development process. Designed by Peter Poon Architects, the hotel will feature a lobby bar, a café with adjoining roof deck on the third floor, amenity space on the fourth floor, and an adjacent three-level parking garage with access on 36th Street. The hotel is scheduled to open in early 2017.
SANTA FE, N.M. — UJAS Santa Fe LLC has purchased a 130-room DoubleTree by Hilton in Santa Fe for an undisclosed sum. The hotel is located at 4048 Cerrillos Road. It was built in 1986 and renovated in 2012. The DoubleTree also features 4,500 square feet of meeting space, on-site dining, a business center, gift shop and indoor/outdoor pool. Mike Kelly and Brandon Miller of Ten-X and Daniel MacDonnell and Eric Melendez-Lluch of Cushman & Wakefield represented the seller, an affiliate of the Hotel Group, in this transaction.
GRAND ISLAND, NEB. — HREC Investment Advisors and Prudential Properties Inc. have arranged the sale of a 197-room hotel property in Grand Island for an undisclosed price. The Holiday Inn Grand Island Midtown will be renamed the Hotel Grand Conference Center. Amenities at the hotel include a business center, dry cleaning and laundry service, meeting space, fitness center, bar, lounge, indoor pool and free airport transportation. HREC Investment Advisors and Prudential Properties Inc. represented the seller, which has owned the Holiday Inn Grand Island Midtown since 1974. The buyer in the transaction was undisclosed.
PARSIPPANY, N.J. — Wyndham Hotel Group (WHG) has unveiled a rebranding plan for all 16 of its brands, including Days Inn, Travelodge, Howard Johnson, Dolce Hotels and Resorts, Wyndham Grand, Wyndham Garden, TRYP by Wyndham, Wingate by Wyndham, Hawthorn Suites, Microtel Inn & Suites, Baymont Inn & Suites, Super 8, Knights Inn and Ramada Worldwide. All of the brands will see a revitalization effort aimed at younger, middle-income travelers. The Parsippany-based company conducted an 18-month study with brand strategy firm Siegel+Gale to assess the hotel landscape and the needs of business and leisure travelers. Changes will begin as early as this summer. The rebranding targets what WHG describes as the “everyday traveler,” as the global middle class grows from a population of 2 billion to 4.9 billion over the next decade, according to the company. WHG has a portfolio of nearly 8,000 hotels worldwide in the economy, midscale and upscale segments. WHG is also refreshing its loyalty program, Wyndham Rewards, and aims to more clearly define each brand in its portfolio. Super 8 will have a new slogan of “An American Road Original.” Travelodge’s new slogan will be “Your Basecamp for Adventure.” The new slogan for Microtel Inn & Suites …
PITTSBURGH — UC Funds has completed a $24.2 million adaptive reuse bridge loan for the conversion of the historic Salvation Army building into the Distrikt Hotel in downtown Pittsburgh. The 183-room hotel will operate as a full-service boutique hotel with amenities including a high-end restaurant with room service, bar and lounge, fitness center and rooftop patio.