SANTA MONICA, CALIF. – The 38-room Embassy Hotel in Santa Monica has sold to Lighthouse Investments and Paligroup for an undisclosed sum. The duo worked in partnership with a local private equity firm. The 1927 boutique beach lodge is currently undergoing a renovation that will convert it to the Paligroup’s signature hotel product. It will open as Palihouse Santa Monica this summer. The seller was represented by Rod Apodaca and Bob Kaplan of CBRE Hotels and by Laurie Lustig-Bower and Kamran Paydar of CBRE’s Century City office. Joint venture equity and debt financing, which covered the acquisition and renovation, was facilitated by Tim Meier, Nicholas White and ScottEschelman of Preferred Capital Advisors.
MARINA DEL REY, CALIF. — DoubleTree by Hilton has opened the 277-room Hotel MdR Marina del Rey – a DoubleTree by Hilton hotel in the Los Angeles beach community. The hotel was formerly known as the Courtyard Los Angeles Marina del Rey before it was purchased by Channel West Group and Arris Investments LLC. It is operated by Evolution Hospitality, which also made an equity investment in the hotel. Preliminary renovations began in 2012, while property renovations are expected to be complete in early 2014. The $7-million renovation will include the addition of six more guestrooms. It is being carried out by architecture firm CMMI.
NEW ORLEANS — Chesapeake Lodging Trust has purchased the W New Orleans — French Quarter from Starwood Hotels & Resorts Worldwide Inc. for $25.5 million. Starwood has entered a long-term management contract to continue operating the hotel. The 97-room property is located on Chartres Street, near Jackson Square and many of the retail and jazz clubs of the French Quarter. The hotel also includes a fitness center and Creole cuisine restaurant.
ONTARIO, CALIF. – The 91-room Hampton Inn & Suites in Ontario has sold to I.O.W., LLC for an undisclosed sum. The hotel is located off Interstate 10 and sits adjacent to the Ontario Mills shopping center. The new owner plans to renovate the property. The seller, MLQ-MLL, LLC, was represented by Michael Blahosky of HREC Investment Advisors.
TEXARKANA, TEXAS — Marcus & Millichap has arranged the sale of the 74-room Rodeway Inn, a two-story hotel located at 5105 N. Stateline Ave. in Texarkana. The hotel originally operated as a Comfort Inn until it was rebranded in 2007. Allan Miller, Chris Gomes and Jake Gaddy of Marcus & Millichap’s Dallas office represented the seller, a limited liability company, in the transaction. Gomes also procured the buyer, a private investor.
ONTARIO, CALIF. – The 91-room Hampton Inn & Suites in Ontario has sold to I.O.W., LLC for an undisclosed sum. The hotel is located off Interstate 10 and sits adjacent to the Ontario Mills shopping center. The new owner plans to renovate the property. The seller, MLQ-MLL, LLC, was represented by Michael Blahosky of HREC Investment Advisors.
BALTIMORE, MD. — Laurus Corp. has completed its acquisition of the Baltimore Hunt Valley Inn, located at 245 Shawan Road in Baltimore. After a $9.5 million renovation, the hotel will become part of the Wyndham Grand Collection and feature 393 guestrooms, 33,000 square feet of meeting space, a fitness center, indoor/outdoor pool, business center and gift shop. The property is surrounded by Class A office parks and several national corporations including BD Diagnostic Systems, Bank of America and PHH Corp.
ST. PAUL, MINN. — The Mille Lacs Band of Ojibwe has hired Graves Hospitality Corp. to take over management and redevelopment of two hotels in downtown St. Paul: the Crowne Plaza St. Paul Riverfront Hotel at 11 Kellogg Blvd.; and the DoubleTree St. Paul Downtown Hotel at 411 Minnesota St. The Mille Lacs Band acquired the hotels, which include nearly half of the hotel rooms in downtown St. Paul, in early March. The Mille Lacs Band of Ojibwe, a self-governing, federally recognized Indian tribe located in East Central Minnesota, purchased the hotels as part of an investment diversification strategy. The band has more than 4,300 enrolled members.
GALVESTON, TEXAS — An 85-key Courtyard by Marriott hotel has opened on a 4.8-acre site along Galveston's Seawall Boulevard. The new hotel is the second Marriott affiliate to open in the area recently. An 88-key Marriott TownePlace Suites opened for business on March 12. Dallas-based Mayse & Associates, an architecture firm, designed the 64,028-square-foot Courtyard by Marriott hotel. The new hotel's outdoor amenities include a resort-style swimming pool, restrooms and a bar area. San Antonio-based Segment Construction Group was the construction management firm and Cameron-based EBCO General Contractor LTD constructed both hotels.
ATLANTA — The 312-room Atlanta Marriott Downtown hotel will be rebranded to the DoubleTree by Hilton brand April 1. The opening of the DoubleTree by Hilton Atlanta Downtown marks the brand's first hotel in downtown Atlanta. Following the conversion, the hotel will begin a property-wide renovation, which is slated for completion later this year. Interstate Hotels & Resorts will continue to operate the property. Originally opened in 1962, the hotel is known for being the first racially integrated hotel in downtown Atlanta. Prominent guests have included the late Elvis Presley, Richard Nixon and Pearl Bailey. The hotel is located at 160 Spring St. N.W.