Hospitality

First Hospitality Group Completes Renovation of Hampton Inn & Suites in Central Illinois

by Jonathan Mehall July 13, 2015

NORMAL, ILL. — First Hospitality Group Inc. has completed the renovation of Hampton Inn & Suites of Bloomington-Normal in Normal. Located at 320 S. Towanda Ave., the hotel is within the Shoppes at College Hills, minutes north of downtown Bloomington, Illinois State University, Illinois Wesleyan University and Mitsubishi Motors North American Headquarters. During the six-month renovation project that began late last year, interior features were updated throughout the property, including new carpet and wall vinyl. All of the 128 guestrooms were appointed with new sofas, desk chairs, mattresses, box springs and bedding. Starwood Capital Group owns the hotel, which is managed by First Hospitality Group.

July 13, 2015

Alabama Hospitality Southeast

Winter Construction to Build New SpringHill Hotel in Alabama

by John Nelson July 13, 2015

ORANGE BEACH, ALA. — Winter Construction will build the new SpringHill Suites hotel at The Wharf in Orange Beach. The Wharf is an entertainment, retail and marina complex adjacent to the Gulf Intracoastal Waterway in Orange Beach, near the Florida-Alabama border. The five-story building will include 132 guest suites, meeting space, restaurant space and an exterior amenity area with a swimming pool. The architect of record for the new SpringHill Suites project is Rule Joy Trammel + Rubio. Winter Construction has built and renovated other Marriott-brand hotels across the Southeast. Winter is currently building the new AC Hotel by Marriott at Phipps Plaza in Atlanta.

July 13, 2015

Hospitality Illinois Midwest

Hostmark Hospitality Will Operate Dual-Branded Hotel in Chicago

by Jonathan Mehall July 10, 2015

CHICAGO — Hostmark Hospitality Group has been selected to operate a Hilton dual-branded hotel in Chicago’s West Loop neighborhood at 118 N. Jefferson St. The 210-room Hampton Inn and 126-room Homewood Suites, which are currently under construction, will open in the fall of 2016. Each hotel will have its own lobby. The Hampton Inn/Homewood Suites will be within close distance of the Illinois Medical District and offers easy access to I-90/94.

July 10, 2015

Hospitality Texas

HREC Arranges Sale of Embassy Suites Hotel in Austin

by Haisten Willis July 10, 2015

AUSTIN, TEXAS — HREC Investment Advisors has arranged the sale of the 260-guestroom Embassy Suites Austin Central. SBCO-BREI Austin Operating Co. LLC is the buyer. Bill Murney of HREC Investment Advisors’ Phoenix office, along with Scott Stephens of the firm’s Tampa office, represented FelCor Lodging Trust during the transaction. The property is located at the intersection of I-35 and U.S. 290, approximately 4.5 miles from downtown Austin.

July 10, 2015

Hospitality Texas

M&M Arranges Sale of 76-Room Comfort Suites Hotel in Metro Dallas

by Haisten Willis July 10, 2015

PLANO, TEXAS — Marcus & Millichap has arranged the sale of Comfort Suites Plano/Dallas, a 76-room hospitality property located in Plano. Pravin Boteju, Andrew Frosch, Rahul Bijlani and Michael Yu of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. Yu, Bijlani and Frosch also sourced the buyer, a private investor. Comfort Suites Plano/Dallas is located at 2301 E. President George Bush Highway.

July 10, 2015

Hospitality Massachusetts Northeast

Summit Hotel Properties Buys 139-Room Hampton Inn in Massachusetts for $24M

by Amy Works July 9, 2015

NORWOOD, MASS. — Summit Hotel Properties Inc. has acquired the Hampton Inn Boston-Norwood, a 139-room hotel located at 434 Providence Hwy. in Norwood for $24 million. The company plans to spend $2.3 million on capital improvements, which will include a conversion to a Hampton Inn & Suites by Hilton, at the property during the second half of 2016. Additionally, the company has entered into a management agreement with Interstate Hotels & Resorts to manage the property. The name of the seller was not released.

July 9, 2015

Arizona Hospitality Western

Holiday Inn Hotels & Suites Phoenix Airport North Changes Hands

by Nellie Day July 9, 2015

PHOENIX – The 44th and McDowell Hotel Group LLC has purchased the 228-unit Holiday Inn Hotels & Suites Phoenix Airport North for an undisclosed sum. The hotel is located at 1515 N. 44th Street. The property underwent an $11 million conversion to Holiday Inn & Suites in 2011. It is situated just two miles from Phoenix Sky Harbor Airport. The seller, Jordan Hotels LLC, was represented by Bill Murney of HREC Investment Advisors’ Phoenix office.

July 9, 2015

Hospitality Loans New York Northeast

HKS Capital Partners Brokers $109M Loan for SLS Hotel in NYC

by Amy Works July 8, 2015

NEW YORK CITY — HKS Capital Partners has secured $109 million in financing to complete the SLS Midtown South, a boutique hotel at 444 Park Avenue South in New York City. Moin Development acquired a 14-story office building at the site in 2011 for $45 million and partnered with SBE to develop the $150 million SLS Midtown South, which is slated to open next spring. The 20-story hotel will feature a 6,000-square-foot sub-cellar. Ayush Kapahi and Gabrielle Simon of HKS Capital Partners arranged the financing, which was provided by Fortress Investment Group.

July 8, 2015

Hospitality Texas

M&M Arranges Sale of 116-Room Hospitality Property in College Station

by Haisten Willis July 7, 2015

COLLEGE STATION, TEXAS — Marcus & Millichap has arranged the sale of Manor Inn College Station Aggieland, a 116-room hospitality property located at 2504 Texas Ave. S. in College Station. Rahul Bijlani, Eric Guerrero and Michael Yu of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and sourced by Yu, Bijlani, Agrama Mannapperuma and Tyler Bean of the firm’s Houston office.

July 7, 2015

Florida Hospitality Southeast

Joint Venture Buys Majority Stake in Ritz-Carlton, Fort Lauderdale

by John Nelson July 7, 2015

FORT LAUDERDALE, FLA. — A joint venture between Carey Watermark Investors Inc. and Gencom Group has purchased a majority interest in the Ritz-Carlton, Fort Lauderdale, an upscale hotel in Fort Lauderdale. The property comprises 166 hotel rooms, 34 third-party owned condominium hotel units and 28 third-party owned residential units. The hotel features 25,000 square feet of meeting and function space, an 8,500-square-foot spa, outdoor infinity pool, 29,000-square-foot pool deck, fitness center, business center and four managed food and beverage outlets. The Ritz-Carlton Hotel Co. will continue to operate the hotel. According to the South Florida Business Journal, the hotel sold for $45 million. Hodges Ward Elliott represented the seller, RCFL Investor LLC, an affiliate of Gencom. The new ownership is planning a $9 million renovation to the hotel’s lobby, spa and main restaurant that should wrap up in the fourth quarter of this year. The transaction is the third joint venture purchase between Carey Watermark and Gencom. The other two transactions include Ritz-Carlton, Philadelphia and Ritz-Carlton, Key Biscayne Miami. Together, the three transactions represent a total investment of more than $500 million.

July 7, 2015

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