Hospitality

Moody National REIT I to Buy Embassy Suites Nashville for $66.3M

by John Nelson May 5, 2015

NASHVILLE, TENN. — Moody National REIT I Inc. has entered into a purchase contract to acquire the Embassy Suites Nashville for $66.3 million. The 208-room hotel opened on a 1.25-acre lot in 2001 in Nashville’s West End-Midtown district near Vanderbilt University. The hotel features an indoor swimming pool, fitness center, business center and meeting space. Moody National REIT I owns select-service hotels in major markets across the United States. The REIT is sponsored by Moody REIT Sponsor LLC, an affiliate of the Moody National Cos.

May 5, 2015

Florida Hospitality Southeast

Marcus & Millichap Brokers $11.2M Sale of WOW Resort in Orlando

by John Nelson May 5, 2015

ORLANDO, FLA. — Marcus & Millichap has brokered the $11.2 million sale of the WOW Resort, a 334-room hospitality property in Orlando’s International Drive corridor. The hotel features a seasonally heated outdoor pool, picnic area and a gym/fitness center. Located at 6101 Sand Lake Road, the hotel is located one mile from the Wet ‘n Wild Orlando water park, three miles from the Universal Studios Florida theme park and 10 miles from the Walt Disney World Resort. Ahmed Kabani and J. Dominic Vito of Marcus & Millichap represented the seller, an investment fund based in Boston. Kabani and Vito also procured the buyer, a private investor from the Arabian Peninsula that purchased the hotel in cash.

May 5, 2015

Best-Western-Plus-College-Station-Inn-and-Suites

Hospitality Texas

Best Western Plus College Station Inn & Suites Opens in College Station

by Haisten Willis May 1, 2015

COLLEGE STATION, TEXAS — Best Western Plus College Station Inn & Suites is now open at 950 Arrington Road in College Station. The 64-room hotel is located within the Tower Point mixed-use development. Rooms include mini-fridges, microwaves, coffee and tea makers, work desks and 42-inch televisions. Community amenities include a fitness room and outdoor swimming pool.

May 1, 2015

Hospitality New York Northeast

Picone Construction Completes Wingate by Wyndham Hotel in Niagara Falls

by Amy Works May 1, 2015

NIAGARA FALLS, N.Y. — Picone Construction has completed the $10 million Wingate by Wyndham Hotel in Niagara Falls. Located at 333 Rainbow Blvd., the four-story 100,000-square-foot hotel features 110 rooms, an indoor pool, breakfast area, meeting and board space, a fitness center, a restaurant and retail space. The architect of record was Silvestri Architects and the project engineer was Studio T3 Engineering.

May 1, 2015

Hawaii Hospitality Western

Hilton Garden Inn Waikiki Beach to Debut in 2016

by Nellie Day May 1, 2015

Hilton Worldwide has announced it will open the new the 623-guestroom Hilton Garden Inn Waikiki Beach on Oahu early next year. It will occupy the former site of OHANA Waikiki West at 2330 Kuhio Ave. That structure was built in 1970. The resort’s public spaces and guestrooms are currently undergoing a renovation that should be completed in early 2016. Hilton is also adding a full-service restaurant and lounge, a grab-and-go market, a modern lobby and a new fitness center. The hotel will also feature an enhanced pool deck with a bar, grill and poolside cabanas. This will be the firm’s first Hilton Garden Inn hotel on the island of Oahu. It will be managed by Evolution Hospitality.

May 1, 2015

Hospitality Utah Western

DoubleTree by Hilton Park City – The Yarrow Opens in Utah

by Nellie Day May 1, 2015

Hilton recently debuted the DoubleTree by Hilton Park City – The Yarrow in Utah. This resort occupies a former resort, the Yarrow Resort Hotel & Conference Center, which received an extensive renovation. The property is located at 1800 Park Ave. It is situated near Park City Mountain Resort, Deer Valley Resort and Canyons Resort. The renovation will upgrade the hotel’s guestrooms, meeting spaces and public areas. Amenities include a year-round heated outdoor swimming pool and hot tub, 24-hour fitness center and a 24-hour business center. A new game room will open at the resort later this year. The Yarrow property also features 11,837 square feet of flexible event space, including a 5,100-square-foot ballroom that accommodates more than 700 guests.

May 1, 2015

Hospitality Northeast Pennsylvania

HREC Brokers Sale of Three-Property Hospitality Portfolio

by Amy Works April 30, 2015

CARLISLE AND MECHANICSBURG, PA., AND HAGERSTOWN, MD. — HREC Investment Advisors has arranged the sale of a three-property hospitality portfolio located in Pennsylvania and Maryland. Keystone Lodging Enterprise sold the properties for an undisclosed price. The portfolio consists of the 99-room Sleep Inn in Carlisle, the 93-room Wingate by Wyndham in Mechanicsburg, and the 96-room Sleep Inn & Suites in Hagerstown. Ketan Patel and Geoff Davis of HREC represented the seller in the transaction. The name of the buyer was not released.

April 30, 2015

Florida Hospitality Southeast

Aztec Group Brokers $8.6M Sale of Historic Miami River Inn in Miami

by John Nelson April 30, 2015

MIAMI — Aztec Group has brokered the $8.6 million sale of Miami River Inn, Miami’s longest operating hotel. Vagabond Group, led by developer Avra Jain, purchased the 58-room hotel, which is located along the Miami River at 118 S.W. South River Drive. Vagabond Group plans to renovate the hotel, which was built in 1906. Jason Katz of Aztec Group represented Vagabond in the transaction. Alfonso Jaramillo of Fortune International Realty represented the seller, Habitat Group.

April 30, 2015

Hospitality Iowa Midwest

The Weitz Co. Selected to Build $101M Iowa Events Center Hotel

by Danielle Everson April 29, 2015

DES MOINES, IOWA — The Weitz Co. has been selected to build the $101 million Iowa Events Center Hotel at Fifth Avenue and Park Street in Des Moines. The Iowa Events Center Hotel will include a build-out of a 330-room convention hotel, which will be connected to the Iowa Events Center, a multi-venue convention center and entertainment complex. Weitz will work with Des Moines-area architectural and engineering firms to complete the project.

April 29, 2015

Hospitality Texas

Hilton, Centurion to Open The Statler Hotel & Residences in Dallas

by Haisten Willis April 29, 2015

DALLAS — Hilton Worldwide and Dallas-based Centurion American Development have signed a franchise license agreement to open The Statler Hotel & Residences in Dallas. Opening in October 2016, the refurbished hotel will be part of Curio by Hilton, a brand of upscale and luxury hotels for travelers. The original Dallas Statler Hilton was located at 1914 Commerce St. in downtown Dallas. Centurion American Development Group’s master plan includes 161 hotel rooms on the lower five floors and 219 residences on the top 11 floors. The building will include meeting space, retail and office space, four restaurants and a hotel lounge. A new music venue is also planned in the 14,500-square-foot ballroom. Development of the building is set to start at the beginning of May. Plano-based Aimbridge Hospitality will manage the hotel.

April 29, 2015

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