BOSTON — Loews Hotels & Resorts has agreed to buy the 225-room Back Bay Hotel in Boston from The Doyle Collection. The financial terms were not disclosed. The hotel, located at the corner of Bekeley and Stuart streets, was built in the 1920s as the Boston Police Department Headquarters, and occupied as such until the late 1990s. The property was redeveloped in 2004. The hotel includes meeting and event space and two dining options, Cuffs, an Irish Bar, and the Stanhope Grille. The deal is expected to close next month.
ATLANTA — Crestline Hotels & Resorts Inc. has completed a $1.5 million renovation and upgrade to the Georgia Tech Hotel & Conference Center in Midtown Atlanta. The hotel and IACC Conference Center are located on the Georgia Institute of Technology campus, and both are managed by Crestline. All 252 guestrooms have been renewed with new wall coverings, carpeting, draperies, new lighting, new desk chairs, new lounge chairs and luggage benches. All of the hotel’s suites were also renovated.
ATLANTA — Host Hotels & Resorts LP has sold the 1,663-room Atlanta Marriott Marquis, located at 265 Peachtree Center Ave. in Atlanta, for $293 million. The buyer was undisclosed. The property includes 160,000 square feet of contiguous meeting space, 84 meeting rooms, 1,569 guest rooms and 94 suites. The hotel is subject to a long-term management agreement with Marriott International Inc. The proceeds will be used to fund future acquisitions, pay down debt or for general corporate purposes.
BAY CITY AND HARLINGEN, TEXAS — Marcus & Millichap has arranged the sale of a 120-room Best Western in Bay City and a 70-room Hampton Inn & Suites in Harlingen. Best Western is located at 407 Seventh St. and the Hampton Inn & Suites is located at 1202 Ed Carey Drive. The Hampton Inn & Suites had a list price of $7.1 million. Michael Yu and Rahul Bijlani, senior directors of Marcus & Millichap's National Hospitality Group in Houston, represented the sellers in both transactions. A bank sold the Best Western and a limited liability company sold the Hampton Inn & Suites. Eric Guerro of Marcus & Millichap's Houston office assisted Yu and Bijlani in the sale of the Best Western. Yu and Bijlani also secured and represented the buyers. A private investor purchased the Best Western while a limited liability company purchased the Hampton Inn & Suites. Tyler Bean of Marcus & Millichap's Fort Worth office assisted Yu and Bijlani in representing the Best Western buyer.
CHICAGO — New York-based Loews Hotels & Resorts plans to open a new 52-story hotel in Chicago. The Loews Chicago Hotel will include: 400 guestrooms, 36 suites, a restaurant, more than 25,00 square feet of meeting space, multiple outdoor terraces, spa and fitness center and an outdoor rooftop including a pool overlooking the city. Chicago-based DRW Trading Group is developing the property and designed by architectural firm Solomon Cordwell Buenz. The hotel is slated to open in January 2015.
AUSTIN — Starwood Hotels & Resorts Worldwide and White Lodging Services Corp. plan to open a second Westin hotel in Austin. The Westin Austin Downtown will be located on the northeast corner of East Fifth Street and San Jacinto Boulevard in downtown Austin. The 17-story, 326-room hotel is scheduled to break ground in 2013 and open in spring 2015. The hotel will feature a White Lodging-managed restaurant, fitness center and 13,500 square feet of state-of-the-art meeting and banquet space. The hotel is anticipated to bring more than 130 permanent jobs to the area, as well as $4.5 million in taxes annually. White Lodging has formed a joint venture with the Harry Whittington family and REI Real Estate Services for the hotel's development.
HOUSTON — An affiliate of Wheelock Street Capital has purchased the 297-room Hilton Houston Westchase Hotel, located on Westheimer Road in Houston's Westchase District. The hotel includes 11,200 square feet of meeting space and the Rio Ranch Restaurant. The buyer acquired the hotel from an affiliate of Interstate Hotels & Resorts, which will continue to manage the hotel on behalf of Wheelock.
ATLANTA — Clermont Hotel Partners LLC has purchased The Clermont Hotel, located at 789 Ponce de Leon Ave. in the Virginia Highlands submarket of Atlanta, with plans to redevelop the property as a boutique hotel. The historic building was built in the 1920s as apartments and converted to a hotel in the 1940s. The Clermont Hotel includes an iconic club on the ground level, which has been in operation for nearly 50 years. The hotel has been shut down since Dec. 31, 2009. Jake Reid of Franklin Street Real Estate Services represented the seller, Fairway Capital, in the transaction. The buyer is an affiliate of Nashville, N.Y.-based BNA Associates LLC.
PORTLAND, MAINE — Chatham Lodging Trust has acquired the recently opened Hampton Inn Portland Downtown — Waterfront Hotel for $28 million. The deal includes an adjacent land parcel, which can be sold or used for future development. The six-story, 122-room hotel is located at 209 Fore Street in the Old Port district. The ground floor of the hotel includes the separately-owned Sebago Brewing Co. Island Hospitality Management will oversee operations at the hotel.
BOSTON — LaSalle Hotel Properties has purchased a majority interest in Boston's Liberty Hotel through a joint venture with the developer and co-owner, an entity controlled by Dick Friedman of Carpenter & Co., for $170 million. The 298-room hotel is located at 215 Charles St. in the Beacon Hill neighborhood. It was built in 1851 as the Charles Street Jail and housed a number of famous inmates including Boston Mayor James Michael Curley and Malcolm X. The property was redeveloped as a hotel, which opened in 2007. The asset will continue to operate under The Luxury Collection franchise.