Hospitality

BOOMTOWN CASINO BREAKS GROUND ON $20M HOTEL

by admin March 4, 2013

HARVEY, LA. — Crews have broken ground on a $20 million hotel project at Boomtown Casino in Harvey, approximately seven miles south of New Orleans. The project will take about 14 months to complete. The Lemoine Co. is the general contractor for the five-story hotel, designed by three: living architecture and Stewart Slack. The 150-room property will be built on land adjacent to Boomtown's existing facility. The hotel will include a fitness center, meeting space and 250 additional parking spaces.

March 4, 2013

HOMEWOOD SUITES OPENS NEW PROPERTY NEAR ORLANDO AIRPORT

by admin March 4, 2013

ORLANDO — Homewood Suites by Hilton has opened the 128-room Homewood Suites by Hilton Orlando Airport, adjacent to the Orlando International Airport. McKibbon Hotel Group Orlando Gateway HM owns the four-story hotel, which is managed by McKibbon Hotel Management Inc. The hotel includes complimentary Wi-Fi, a fitness center, outdoor pool, sport court and 760 square feet of meeting space.

March 4, 2013

Hospitality Midwest

DOUGHERTY PLACES $170M IN LOANS FOR FOUR HOTELS IN ROCHESTER, MINN.

by admin March 4, 2013

ROCHESTER, MINN. — Dougherty Funding LLC has placed $170 million in financing for four hotels in Rochester, located about 85 miles south of Minneapolis. The hotel properties include the 660-room Kahler Grand Hotel, the 271-room Kahler Inn & Suites, the 220-room Marriott Rochester and the 89-room Residence Inn by Marriott Rochester. The four hotels make up almost 25 percent of the city’s hotel rooms. The financing is a combination of $145 million in senior and mezzanine financing and $25 million in preferred equity.

March 4, 2013

Hospitality Western

NEW CONFERENCE CENTER OPENS AT LIONS GATE HOTEL NEAR SACRAMENTO

by admin March 4, 2013

MCCLELLAN, CALIF. – A new 70,000-square-foot conference center has opened at the Lions Gate Hotel at McClellan Park. The hotel is located in McClellan, which is seven miles southeast of Sacramento. The new addition includes a 38,000-square-foot General Session Room. The hotel previously contained only 8,000 square feet of meeting and event space.

March 4, 2013

Hospitality Western

COURTYARD BY MARRIOTT – SANTA ROSA CHANGES HANDS

by admin March 1, 2013

SANTA ROSA, CALIF. — The 138-room Courtyard by Marriott in Santa Rosa has sold to an affiliate of Pacifica Companies for an undisclosed sum. Santa Rosa is situated northwest of Napa and Sonoma. The hotel is located one block from the intersection of Highway 101 and Highway 12. It recently underwent an extensive renovation. The hotel will be managed by Pacifica Host Hotels. The seller, LNR Partners, was represented by Mike Armstrong of HREC Investment Advisors.

March 1, 2013

Hospitality Western

COURTYARD BY MARRIOTT – SANTA ROSA CHANGES HANDS

by admin March 1, 2013

March 1, 2013

Hospitality Northeast

HPT SIGNS LETTER OF INTENT FOR $375M DEAL WITH NH HOTELES

by admin February 28, 2013

NEWTON, MASS. — Hospitality Properties Trust (HPT) has signed a letter of intent and entered into an exclusive negotiating period for hotel investments with Madrid-based NH Hoteles (NHH) on properties in Latin America, Europe and the United States totaling approximately $375 million. Under the agreement, HPT will purchase five hotels in Latin America from NHH for $70 million. HPT will also provide a €170 million (U.S. $223.4 million) loan to NHH on four hotels in Europe. NHH and a European partner currently own a 242-unit hotel in New York City. HPT and NHH will form a joint venture to acquire this hotel. HPT expects to provide up to $80 million to retire the ownership of NHH's current partner and fund a major refurbishment of this hotel.

February 28, 2013

Hospitality Texas

CBRE HOTELS BROKERS SALE OF QUALITY INN IN GREENVILLE

by admin February 25, 2013

GREENVILLE, TEXAS — CBRE Hotels has arranged the sale of the 139-room Quality Inn, located at 1215 E. Interstate 30 in Greenville. The hotel features Hangar Bar, an outdoor pool, billiard room, exercise room and complimentary breakfast for hotel guests. Bert Stevens of CBRE Hotels in Dallas represented the seller in the transaction. A private investor purchased the hotel.

February 25, 2013

Hospitality Southeast

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

Hospitality Midwest

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

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