ANDOVER, MASS. — A new extended-stay hotel brand will operate at 4 Tech Dr. in Andover. The hotel currently known as Staybridge Suites Boston-Andover will come under Sonesta International Hotels Corp. management July 25. The 133-room property will be renamed Sonesta ES Suites Andover. The hotel is located at the junction of Interstates 93 and 495, north of Boston. The property features a heated outdoor swimming pool, an exercise room and sports court.
ARLINGTON — Summit Hotel Properties has acquired the 103-room Courtyard by Marriott in Arlington for $15.25 million. The price also includes planned property improvements.
HOUSTON — Marriott International has opened a 120-suite Residence Inn, located at 1550 Barker Cypress Road in Houston. Dallas-based Texas Western Hospitality owns and manages the hotel, which goes by the name Residence Inn Houston I-10 West. The hotel features an outdoor swimming pool, a lobby area with HD TVs, a fitness center, breakfast buffet, outdoor fire pit, weeknight social hour and a complimentary business center.
HOUSTON — Sonesta International Hotels Corp. will rebrand the 485-room former Intercontinental Hotel Houston as The Royal Sonesta Hotel Houston, a Four Diamond, 23-story property located in Houston's Galleria area. The hotel offers 50,000 square feet of meeting space, restaurants, a swimming pool and a 24-hour health club. The hotel is slated to come under Sonesta's management in July.
NEW ORLEANS — The 170-room Hyatt Place New Orleans/Convention Center, located at 881 Convention Center Blvd. in New Orleans, has reopened following an $8 million renovation. The hotel was formerly known as Hotel New Orleans. A joint venture between HRI Properties and Interwest Capital Corp. purchased the property in July 2011 and renovation work started in the third quarter of 2011. The hotel includes more than 3,300 square feet of meeting space, as well as a Kitchen Skillet complimentary breakfast area and the Intimate Bakery Cafe, which features specialty coffees, premium beers, wines and cocktails.
SAN ANTONIO — BC LYND Hospitality, a joint venture between San Antonio-based LYND and BC Commercial Partners, has purchased the historic St. Anthony Hotel, a 103-year-old, 352-room hotel located at 300 E. Travis St. in downtown San Antonio. The hotel is listed as a National Historic Landmark. BC LYND is planning a $24 million renovation of the hotel that will include a new brand affiliation (Starwood Luxury Collection), new decor, updated meeting and function spaces, a new restaurant and a rooftop bar. IBC Bank provided debt financing for the acquisition and renovation of the hotel. Bill Stadler and John Bourret of HFF represented the seller, Berkadia , in the transaction.
DAYTONA BEACH, FLA. — NorthMarq Capital has arranged $3.56 million in first mortgage refinancing for the 122-room Residence Inn by Marriott, a limited service hotel located at 1725 Richard Petty Blvd. in Daytona Beach. Robert Hernandez of NorthMarq's Tampa office arranged the 10-year loan with a 25-year amortization schedule on behalf of the borrower, Oceanside Two LLC, through a CMBS lender.
HERMISTON, ORE. – A 55-unit Best Western in Hermiston has received $3.17 million, which will be used to refinance the property. The hotel is located at 2255 South Highway 395. The long-term, fixed rate loan was provided by Premier Capital Associates.
NEW BRAUNFELS — Marcus & Millichap has arranged the sale of a 62-room Comfort Suites, located at 1489 Interstate Highway 35 N. in New Braunfels. Allan Miller of Marcus & Millichap's Austin office, along with Chris Gomes of the firm's Dallas office, represented the seller, a limited liability company, in the transaction. Gomes procured the buyer, a private investor.
NEW ORLEANS — The 254-room Hyatt French Quarter, located at 800 Iberville St. in New Orleans, has reopened. The hotel recently underwent an $18 million renovation, which included upgrades to the guest rooms, as well as the hotel exterior, lobby, landscaping, pool and deck area decor. Additionally, newly designed food and beverage outlets include bodega-inspired market Powdered Sugar and an upscale lounge called Batch. The Hard Rock Cafe also recently signed a 10,000-square-foot lease at the hotel. The restaurant is slated to open in early 2013. A joint venture between Carey-Watermark Investors and HRI Properties owns the hotel.