SAN FRANCISCO — For $90 million, Pebblebrook Hotel Trust has acquired the 416-room Sir Francis Drake Hotel, located at the center of Union Square in downtown San Francisco, from a partnership led by The Chartres Lodging Group LLC. Originally constructed in 1928, the 23-story hotel includes the award-winning Scala's Bistro, the Wine Room at Scala's, the famed Harry Denton's Starlight Room on the 21st floor, Bar Drake in the hotel's lobby and a Starbucks Coffee, as well as 18,000 square feet of meeting space, a 24-hour fitness center and a 24-hour business center. The hotel will continue to be managed by Kimpton Hotels & Restaurants.
KNOXVILLE, TENN. — LGS Knox of Nashville has purchased the 129-room Quality Inn Knoxville from a private seller for an undisclosed price in an all-cash transaction. The property, located on Cedar Lane, will retain its Quality Inn brand but will undergo renovations. Amenities include an outdoor pool and a fitness center. Anthony Falor of Hodges Ward Elliott represented the seller.
NEW YORK CITY — A partnership between Highgate Holdings, Ashkenazy Acquisitions Corp. and Crown Acquisitions has purchased the historic Knickerbocker Hotel in New York City. The 300,000-square-foot building is located at 1466 Broadway in the heart of Times Square. The new ownership plans to convert the hotel to an upscale, boutique property with high-end retail space on the street level. The purchase also included an adjacent 10,000-square-foot lot, which will be developed into a new luxury retail complex. The seller was Danske Banke, which was represented by Jones Lang LaSalle in the deal.
LITHIA SPRINGS, GA. — Banyan Tree Cos. has purchased a 91-room Country Inn & Suites from a lender for an undisclosed amount. The property is located off Interstate 20 near Six Flags Over Georgia in Lithia Springs. Hotel amenities include fitness and business centers, a 12-person meeting room, a game room and an indoor pool. Scott Stephens and Monty Levy of HREC Investment Advisors brokered the sale.
HAMPTON, VA. — Allen Management has sold a 72-room Econo Lodge in Hampton to a local investor group for an undisclosed amount. The buyer will operate the hotel as an independent brand. David Mumford and Brian McCutcheon of Mumford Co.'s Newport News, Va., office brokered the sale.
IRVING, TEXAS — Bert Stevens of CB Richard Ellis has brokered the sale of a Days Inn & Suites in Irving between an undisclosed seller and Ambe Hotels. The 134-room Days Inn & Suites DFW North, which was built in 1983, is located near the Dallas/Fort Worth International Airport. Ambe Hotels plans to keep the Days Inn & Suites brand and will invest more than $750,000 in upgrades to the property.
SYRACUSE, N.Y. — A joint venture between Ritchfield Hospitality and Shelbourne Falcon Investors has signed an agreement to acquire the Renaissance Syracuse Hotel in Syracuse. The 20-story hotel contains 279 rooms and suites. The joint venture plans to complete a $5 million renovation to the property that will include converting it to the Crowne Plaza brand. Ritchfield will operate the hotel once the deal closes, which is expected in July.
WINCHESTER, VA. — Starwood Hotels & Resorts Worldwide has opened the 99-unit Aloft Winchester hotel in Winchester. The property is located at the intersection of Millwood Pike and Interstate 81 near the entrance to Shenandoah University. The property is also in close proximity to the Winchester Speedway and Rock Harbor Golf Course. The hotel is owned and managed by Hotel Squared.
COLUMBUS NORTH, OHIO —VED-Verdas Hospitality has acquired a Motel 6 location in Columbus North. Situated on 1.7 acres at exit 116 off Interstate 71, the two-story property offers 46 rooms. Motel 6 Operating (Accor International) sold the hotel for an undisclosed price. Jones Lang LaSalle Hotels represented the seller in the transaction.
SAN FRANCISCO — Cassidy Turley BT Commercial has represented Euphoria Hospitality Inc. in its $4.9 million acquisition of a 19,543-square-foot hotel in San Francisco from Pacific Equities West. Located at 835 Hyde Street, the nearly 100-year-old, five-story property is commonly known as The Nob Hill Hotel. Eric Gunderson in Cassidy Turley BT Commercial’s Hospitality Group represented the buyer in the transaction.