DULUTH, GA. — Sonesta International Hotels Corp. has opened a new, 426-room hotel in the Atlanta area. The full-service hotel, named Sonesta Gwinnett Place, is located in Duluth and was formerly known as the Atlanta Marriott Gwinnett Place. The 17-story hotel includes 16,000 square feet of meeting and event space, the 8,000-square-foot Georgia Ballroom, a swimming pool, health club, sundeck and free parking. The hotel is located near major entertainment venues, including the Gwinnett Arena and the Performing Arts Centre.
MINNEAPOLIS — ARC Realty Finance Trust Inc. has closed on a $6.5 million mezzanine loan originated as part of $57.5 million in total financing provided to the ownership of the W Minneapolis. The 32-story, 229-room, full-service luxury hotel is located in downtown Minneapolis. Also known as The Foshay, the property was modeled after the Washington Monument when it was built in 1929 and was added to the National Registry of Historic Places in 1978 as an example of Art Deco architecture. The Foshay was originally built as office space until 2006, when the current ownership acquired, renovated and repositioned the property as the W Minneapolis.
BATON ROUGE, LA. — Lightstone Value Plus Real Estate Investment Trust Inc., a non-traded REIT sponsored by The Lightstone Group, has acquired two Marriott-branded hotels in Baton Rouge for $15.6 million. The properties include the 121-room Courtyard by Marriott and the 108-room Residence Inn by Marriott. The hotels are adjacent to I-10, which connects Baton Rouge to New Orleans, and are situated minutes from major businesses, including 65 petrochemical facilities and the newly constructed Women's Hospital of Baton Rouge. The Courtyard by Marriott underwent a $3.1 million renovation in 2010 that included an upgrade of the guestrooms and corridors. Lightstone plans to fully renovate the Residence Inn by Marriott property, including replacing soft goods and upgrading the guestrooms, meeting rooms and lobby areas.
KEY WEST, FLA. — Ashford Hospitality Trust Inc. has completed its previously announced acquisition of the 142-room Pier House Resort and Caribbean Spa in Key West for $90 million. The hotel includes 40 waterfront facing rooms and suites and standard guest rooms that average 325 square feet. The hotel also features 2,600 square feet of meeting space, a 10,000-square-foot spa, three food and beverage outlets and a fitness facility. The property is located at the northern end of Duval Street on a six-acre compound with a private beach and immediate access to the Gulf of Mexico. In 2012, the hotel achieved RevPAR of $275, 83 percent occupancy and and average daily rate of $333.
LAKE CHARLES, LA. — L'Auberge Casino Resort and Pinnacle Entertainment Inc. held a ribbon-cutting ceremony for the completion of a $20 million hotel room renovation project in Lake Charles. Phase II of the renovation will begin in September to complete renovation of the remaining hotel tower rooms and suites in the first half of 2014. The renovation included the addition of two new room categories: Royale and Marquis Suites. Upgraded amenities include refrigerators, Keurig brand coffee machines, make-up mirrors and new furnishings. KAP Construction served as the contractor for the project.
GREENVILLE, S.C. — Summit Hotel Group has acquired the six-story, 120-room Hilton Garden Inn in Greenville for $127,000 per key. Teague Hunter and Trey Scott of Hunter Hotel Advisors represented the seller, Deean Hospitality, in the transaction.
WAUSAU, WIS. — Midway Hotel Club LLC has purchased the Best Western Midway Hotel at 2901 Hummingbird Lane in Wausau for $1.9 million. The seller was Midway Hotel Group LLC. The two-story hotel features 97 rooms. Amenities include two restaurants and a 10,000-square-foot atrium, pool, hot tub, game room and fitness center. Alok Gupta of @properties Commercial was the sole broker in the transaction.
TUCSON, ARIZ. – The 87-room Comfort Suites in Tucson has sold to Variant Commercial Real Estate for an undisclosed sum. The flagged hotel is located at 515 West Auto Mall Drive. It was built in 1998 and contains 40,427 square feet. Variant is currently negotiating to acquire five more hotels in Arizona.
BRISTOL, CONN. — DoubleTree by Hilton has opened its newest hotel in Bristol, located about 18 miles south of Hartford. Formerly a Clarion hotel, the 141-room DoubleTree by Hilton Bristol opens following a 13-month renovation at a cost of more than $20 million led by design firm Parker-Torres Design LLC. Bristol Hotel LLC owns the hotel, which is managed by Prestige Hospitality Group LLC. The five-story, 19-suite tower offers a separate private entrance for guests. The hotel also features more than 7,000 square feet of flexible meeting space, an indoor heated swimming pool, 24-hour fitness center, 24-hour business center and complimentary WiFi throughout the hotel.
TUCSON, ARIZ. – The 87-room Comfort Suites in Tucson has sold to Variant Commercial Real Estate for an undisclosed sum. The flagged hotel is located at 515 West Auto Mall Drive. It was built in 1998 and contains 40,427 square feet. Variant is currently negotiating to acquire five more hotels in Arizona.