HAMPTON, VA. — MHI Hospitality has extended the maturity date of the $8.1 million mortgage on the 172-room Crowne Plaza Hampton Marina Hotel through TowneBank to June 30, 2013. The full-service, waterfront hotel is located in downtown Hampton and features 21,000 square feet of retail space, 7,600 square feet of flexible meeting space, a roof-top pool and a four-story, 300 car parking garage.
OKLAHOMA CITY — A $5.5 million renovation of the 236-room Embassy Suites Oklahoma City — Will Rogers World Airport, located at 1815 S. Meridian Ave. in Oklahoma City, is now complete. The hotel features 12,000 square feet of renovated meeting space including a 5,940-square-foot ballroom, the Atrium Restaurant, The Landing Bar and Grill, a fitness center, an indoor swimming pool and a 24-hour business center.
NASHVILLE, TENN. — White Lodging has started construction on the 255-room Hyatt Place hotel, located at 301 3rd Ave. S. in Nashville. Host Hotels & Resorts will own the hotel with White Lodging. PFVS Architects designed the 13-story hotel, which includes 3,600 square feet of meeting space and a 175-space parking garage. Completion is slated for late 2013.
HOUSTON — HFF has secured $85 million in refinancing for The Houstonian Hotel, Club & Spa, an 18.34-acre urban resort located in Houston's Galleria submarket. Matt Kafka and Corby Chaffin of HFF arranged the loan through AXA Equitable Life Insurance Co. and its advisor Quadrant Real Estate Advisors on behalf of the borrower, Houston-based The Redstone Companies.
MIDLAND — Marriott International has opened a 100-unit TownePlace Suites by Marriott, located at 5508 Deauville Blvd. in Midland. The hotel will operate as a Marriott franchise and will be owned and operated by Dallas-based Western International. The hotel offers a business center, laundry facilities, a market, outdoor swimming pool, fitness center, a bar, an outdoor patio, 1,500 square feet of meeting space and complimentary wireless Internet for all rooms.
TAMPA, FLA. — Mumford Co. has negotiated the sale of the 127-room Masters Inn, located adjacent to Interstate 4 in Tampa. David Mumford of Mumford Co.'s Newport News, Va., office, along with Steve Kirby and Burton Brooks of the firm's Atlanta office, represented the Supertel Hospitality, the seller, in the transaction. The buyer was a local operator.
OMAHA — Developers have broken ground on the first Hyatt-branded hotel in Nebraska. An affiliate of the Hyatt Hotels Corp. purchased land in Omaha for the construction of the hotel in February, and the project is expected to total $27 million. Chicago-based DLR Group designed the 10-story Hyatt Place Omaha Downtown/Old Market, which will include 159 rooms. Woodbine Development is overseeing development of the project on behalf of Hyatt affiliates and Hawkins Construction is serving as general contractor. The hotel is slated to open in 2014.
BOSTON — Hostelling International has opened the new $43 million Boston Hostel at 19 Stuart St. in Boston. Hostelling International is a network of 4,000 budget-oriented accommodations in 90 countries, favored by international and youth travelers. The 480-bed Boston hostel will replace the company's 208-bed hostel in the city's Fenway neighborhood. The property was built to LEED standards and is expected to be the first LEED-certified hostel in the nation. Prices start at $29 per night per guest and the hostel includes a cafe and community room.
CHICAGO — Sunstone Hotel Investors has agreed to buy a fee-simple interest in the 357-room Hilton Garden Inn Chicago Downtown/Magnificent Mile for $91.7 million, or $257,000 per room. The hotel is one block from the city's “Magnificent Mile” and each guest room provides views of downtown Chicago. The property also features 5,700 square feet of combined meeting space. The lodging real-estate investment trust has interest in about 30 hotels.
MAPLE GROVE, MINN. — TMI Hospitality has purchased Cambria Suites hotel in Maple Grove out of foreclosure for a reported $7.1 million. The 129-room Cambria Suites features a large lobby and all-suite rooms that include a separate living, working and sleeping space. TMI Hospitality, based in Fargo, N.D., has an existing portfolio of eight hotels in the greater Minneapolis marketplace.