Hospitality

NYLO DALLAS SOUTH SIDE HOTEL NEARS COMPLETION

by admin August 6, 2012

DALLAS — The 101-year-old Dallas Coffin Co. Building has been converted to a five-story, 76-room boutique hotel known as NYLO Dallas South Side Hotel, located at 1325 S. Lamar at Belleview in Dallas. The hotel is set to open in mid-August 2012 and will be NYLO's third hotel in the Dallas/Fort Worth market. The hotel will feature SODA Bar, a glass-enclosed bar and lounge featuring an infinity pool and panoramic views of Dallas. The hotel will also include a bistro in the lobby, 950 square feet of meeting space and 4,500 square feet of rooftop terrace space for special events or corporate gatherings.

August 6, 2012

SUMMIT PURCHASES RESIDENCE INN FOR $15.5M

by admin August 6, 2012

ARLINGTON — Summit Hotel Properties has bought a 96-room Residence Inn by Marriott, located in Arlington, for $15.5 million. The purchase is Summit's 12th hotel acquisition since its initial public offering (IPO) in February 2011.

August 6, 2012

Hospitality Northeast

CAMPUS APARTMENTS COMPLETES FIRST HOTEL DEVELOPMENT IN PHILLY

by admin August 2, 2012

PHILADELPHIA — Campus Apartments has completed its first hotel development: the $50 million Homewood Suites by Hilton – University City. The property is located at 4109 Walnut St. in Philadelphia's University City District. The upscale, extended-stay hotel is aimed at attracting professionals, patients and families who require long-term accommodations in close proximity to the academic and medical facilities. The 110,000-square-foot hotel features 136 suits averaging 500 square feet each, a fitness center and indoor swimming pool. The project team included Alesker & Dundon Architects; L.F. Driscoll Co., the general contractor; and Floss Barber, the interior designer.

August 2, 2012

Hospitality Midwest

HOMEWOOD OPENS FIRST HOTEL USING GEN9 PROTOTYPE IN JOPLIN

by admin August 1, 2012

JOPLIN, MO. — Homewood Suites by Hilton has opened a new hotel in Joplin featuring its latest prototype, Gen9, which enables the extended-stay brand to target more urban locations. The four-story, 97-room hotel is owned by Joplin Hospitality Partners and managed by McHugh Hospitality Group. The building is one of the first businesses to open in Joplin since last year's deadly tornado. The Gen9 plan reduces the land area needed to build a Homewood by approximately 20 percent. Construction costs are reduced 10 to 15 percent, and the overall development cost per-key is reduced 4 to 6 percent. The Joplin hotel is located at 2642 East 32 St.

August 1, 2012

Hospitality Texas

THE ADMIRAL FUND ACQUIRES HOLIDAY INN EXPRESS

by admin August 1, 2012

FORT WORTH — The Admiral Capital Real Estate Fund, a partnership between Admiral Capital Group and USAA Real Estate Co., along with its joint venture partner Franklin Croft, has acquired the 132-room Holiday Inn Express, located at 1111 W. Lancaster Ave. in downtown Fort Worth. Dallas-based Aimbridge Hospitality will manage the hotel, which will have an additional 31 rooms open this year. The hotel is The Admiral Fund's third hotel and sixth property altogether.

August 1, 2012

Hospitality Southeast

$9M RENOVATION COMPLETE AT SHERATON TAMPA

by admin July 30, 2012

TAMPA, FLA. — Interstate Hotels & Resorts and Waramaug Hospitality have completed a $9 million renovation of the 265-room Sheraton Tampa East Hotel, located at 10221 Princess Palm Ave. in Tampa. The renovation included upgrades to all guest rooms, the hotel's 30,000 square feet of meeting space and all public areas, including adapting the hotel's reception area to Sheraton's signature lobby, the Link@Sheraton experience. Additional amenities include Panfilio's Bar and Grille, a fully renovated, full-service restaurant, as well as the Sheraton Club Lounge, an outdoor heated pool, tennis courts and an upgraded fitness facility.

July 30, 2012

Hospitality Northeast

GREENWOOD ACQUIRES HILTON HARRISBURG

by admin July 30, 2012

HARRISBURG, PA. — Greenwood Hospitality has acquired the 384-room Hilton hotel in downtown Harrisburg for a reported $22.2 million. Developed in 1990, the property includes 26,000 square feet of meeting and conference space and The Golden Sheaf restaurant. The hotel is connected by an enclosed walkway to the Whitaker Center for Science and the Arts and Strawberry Square, a mixed-use retail and office complex. Greenwood plans to upgrade the hotel's guest rooms and public spaces.

July 30, 2012

Hospitality Northeast

NEW JERSEY COMFORT INN NETS $1.75M

by admin July 30, 2012

BUDD LAKE, N.J. — Comfort Suites, a 53-room hotel property in Budd Lake, has sold for $1.75 million. Built in 2001, the property is located at 102 Route 46 W. and is approximately one mile from the International Trade Center. Umar Sheikh of Marcus & Millichap represented the seller, a limited liability company, in the transaction. He also represented the buyer, a private investor. The new owners plan to rebrand the property as a Super 8.

July 30, 2012

Hospitality Southeast

CRYSTAL CITY MARRIOTT COMPLETES $7M RENOVATION

by admin July 24, 2012

ARLINGTON, VA. — Vornado Realty Trust has completed a $7 million renovation at the 343-room Crystal City Marriott, located at 1999 Jefferson Davis Highway in Arlington. The project included the addition of the Bell20 restaurant, 10,000 square feet of meeting and event space, a 1,400-square-foot fitness center and a 1,200-square-foot concierge lounge. Marriott International manages the hotel.

July 24, 2012

Hospitality Northeast

INVESTMENT GROUP ACQUIRES EMBASSY SUITES FOR $9.7M

by admin July 24, 2012

PISCATAWAY, N.J. — 121 Centennial Avenue LLC, a local hotel investment group from Edison, N.J., has purchased the 221-room Embassy Suites in Piscataway for $9.7 million. Embassy Suites is situated off Interstate I-287 and is in close proximity to Rutgers University and the Garden State Exhibit Center. Geoff Davis and Ketan Patel of HREC Investment Advisors represented the seller in the transaction.

July 24, 2012

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