Hospitality

MERIDIAN COMPLETES STAYBRIDGE SUITES HOTEL IN KENTUCKY

by admin February 22, 2013

BOWLING GREEN, KY. — Meridian Design Build has completed the construction of an 85,000-square-foot Staybridge Suites Hotel in Bowling Green. The three-story, 124-unit hotel includes studio, one-, and two-bedroom layouts with fully-equipped kitchens. Hotel amenities include a fitness center, outdoor pool and on-site meeting rooms to accommodate the needs of business travelers and other extended-stay guests. The project team also included Adkisson & Associates Architects, Arnold Consulting Engineering Services and Dellisart LLC.

February 22, 2013

FUTURE SITE OF $400M CHICAGO HOTEL UNDER SCRUTINY

by admin February 22, 2013

CHICAGO — Illinois’s Metropolitan Pier and Exposition Authority (MPEA) recently unveil plans to build a $400 million, 1,200-room hotel near Chicago’s McCormick Place convention center. The hotel, which is located near the intersection of Michigan Avenue and Cermak Road, would serve as the headquarters for groups holding shows at McCormick Place However, JRM Technology, the site’s owner, said it already has invested thousands of man-hours and millions of dollars to develop a $400 million data center there, according to the Chicago Tribune. James McHugh, a principal at the company, said in a statement, that City Council has already approved plans to start construction on the data center and the company is just waiting on a building permit to be issued. Read the full story here.

February 22, 2013

Hospitality Midwest

BELLWETHER CAPITAL CLOSES $30M LOAN OF HYATT REGENCY IN COLUMBUS

by admin February 22, 2013

COLUMBUS, OHIO — Bellwether Enterprise Real Estate Capital has closed a $30 million loan to refinance the Hyatt Regency, a 633-room hotel in downtown Columbus. The 20-story hotel opened in 1980 and is located at 350 N. High St. The 10-year loan has a 20-year amortization schedule.

February 22, 2013

Hospitality Texas

WOODBINE DEVELOPMENT SECURES $89.5M HOTEL REFINANCING

by admin February 22, 2013

SAN ANTONIO — Woodbine Development Corp. has refinanced its Hyatt Regency Hill Country Resort and Spa in San Antonio with $89.5 million in loans. Morgan Stanley provided $61 million in senior debt, and Prudential Real Estate Investors provided the $28.5 million in mezzanine debt. Dan MacDonnell of Cushman & Wakefield's Los Angeles office represented Woodbine Development in the transaction. Dallas-based Brown McCarroll provided legal counsel. The hotel is currently undergoing a $35 million expansion and renovation. Woodbine is managing the expansion, WATG and Wimberly Interiors are designing the interior, HKS Hill Glazier Studio is the architect of record, Rialto Studio is managing the landscape makeover and Hardin Construction Co. is the general contractor.

February 22, 2013

Hospitality Midwest

$23M CONVERSION OF FORMER OMAHA FEDERAL BUILDING INTO HOTEL UNDER WAY

by admin February 18, 2013

OMAHA — The $23 million conversion of the former Federal Building in Omaha into a Residence Inn by Marriott is under way. Once completed this summer, the hotel will include 152 rooms, a 1,000-square-foot penthouse on the 12th floor with panoramic views of the city and nearly 2,000 square feet of meeting space. The project will preserve and utilize all of the building’s original marble, terrazzo tile, wooden railings and brass fixtures. The conversion of the Omaha Federal Building into a Residence Inn by Marriott is the latest in a series of adaptive reuse projects by First Hospitality Group Inc. aimed at maximizing the potential of historic properties.

February 18, 2013

Hospitality Western

SLS LAS VEGAS BREAKS GROUND AT THE FORMER SAHARA HOTEL & CASINO

by admin February 15, 2013

February 15, 2013

Hospitality Western

HOLIDAY INN EXPRESS ON FISHERMAN’S WHARF IN SAN FRANCISCO SELLS FOR $60.5M

by admin February 15, 2013

SAN FRANCISCO — The 252-room Holiday Inn Express on Fisherman’s Wharf in San Francisco has sold to a joint venture between Summit Hotel Properties and an affiliate of InterContinental Hotels Group for $60.5 million. The JV will invest an additional $3 million into the property over the next 12 months. The hotel will be operated under a long-term IHG management agreement.

February 15, 2013

Hospitality Texas

$2M RENOVATION OF COURTYARD HOTEL IN OKC COMPLETE

by admin February 15, 2013

OKLAHOMA CITY — The 225-room Courtyard by Marriott Oklahoma City Downtown, located adjacent to historic Bricktown at 2 W. Reno Ave. in Oklahoma City, has undergone a $2 million renovation of its guest rooms and meeting spaces. The facelift included a new paint palette for the rooms, plush carpet, new furnishings and HDTVs in all rooms. The hotel is expected to undergo Phase II of its renovation in August. Phase II will include a stylish lobby, a 57-inch LCD TV GoBoard with touch screen, media booths, lounge, local library, coffee bar, nighttime bar and a Starbucks location. John Q. Hammons Hotels & Resorts owns and operates the eight-story hotel.

February 15, 2013

Hospitality Western

SLS LAS VEGAS BREAKS GROUND AT THE FORMER SAHARA HOTEL & CASINO

by admin February 15, 2013

LAS VEGAS – SLS Las Vegas has broken ground at the site of the former Sahara Hotel & Casino on the Las Vegas Strip. The Sahara, which was shuttered in 2011, will receive a $415-million makeover before reopening as the 1,600-room SLS Las Vegas hotel-casino in fall 2014. The Bazaar by José Andrés, Katsuya by Starck, The Sayers Club and Shelter nightclub have already signed on at the new resort, as has Fred Segal, which will operate a 10,000-square-foot retail outlet on property. SLS Las Vegas is owned by SBE Entertainment Group LLC and its equity partner, Stockbridge Capital Group.

February 15, 2013

Hospitality Western

HOLIDAY INN EXPRESS ON FISHERMAN’S WHARF IN SAN FRANCISCO SELLS FOR $60.5M

by admin February 15, 2013

February 15, 2013

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