NEWELL, W.V. — Beacon Hospitality has purchased the Holiday Inn Express in Newell for an undisclosed price. Built in 2005, the three-story property offers 69 rooms. The acquisition was funded via Quadrant Financial utilizing the USDA's B & I loan program. David Mumford, Ed James and Justin Pinkard of The Mumford Company represented the seller, Mountaineer Lodging, in the transaction.
ATLANTA — Atlanta Underground LLC, Excel Hotel Group and S&A Industries have opened the first Comfort Suites in downtown Atlanta. Located at 54 Peachtree St. near historic Underground Atlanta, the hotel offers 156 rooms. The hotel is housed in a historic building, which was expanded during Atlanta's 1996 Summer Olympics. The property, which is franchised by Choice Hotels International, is the brand's first adaptive reuse project.
NASHVILLE, TENN. — Chartwell Hospitality has acquired two hotels in Nashville for $36.5 million. The company purchased the 169-room Hampton Inn at West End Avenue and the 157-room Hampton Inn & Suites at Elliston Place. The company plans to invest $4 million for upgrades to the properties. Additional terms of the transactions were not released.
SCHAUMBURG, ILL. — Des Plaines, Ill.-based AAA Hospitality has acquired Homewood Suites in Schaumburg. The 108-room hotel sold for $5 million. The buyer plans to invest approximately $1.5 million into the property, which was renovated in 2006. Thomas Hamm of Sperry Van Ness represented the seller, RT Schaumburg, in the transaction. Homewood Suites is the select service/extended stay brand of Hilton Hotels.
HOUSTON — A joint venture between Canyon-Johnson Urban Funds and Centurion Partners has taken ownership of the 12-story, 135-room Hotel Icon, located at 220 Main St. in Houston. In November, Canyon-Johnson and Centurion acquired both the senior and junior loans on Hotel Icon and initiated a consensual foreclosure that concluded this week. The repositioning plan calls for property improvements including upgrades to the hotel's guest rooms, and enhanced television and technology systems. A management or franchise agreement with a major luxury national hotel chain will also be executed to re-brand the hotel and implement an effective reservation system and loyalty program. Destination Hotels and Resorts will manage the hotel until property upgrades and a major hotel affiliation can be met.
SCRANTON, PA. — Linchris Hotel Corp. has purchased the Hilton Scranton & Conference Center, a 175-room hotel located in Scranton. The new owner plans to renovate the property and replace the management company. Geoff Davis of HREC Investment Advisors represented the seller, Electric City Hospitality. The acquisition price was not disclosed.
NEW YORK CITY — The grand opening has been held for the Aloft Harlem. Located at the intersection of Frederick Douglass Boulevard and 124th St., the hotel is the first Aloft in New York City. The hotel contains 124 guest rooms as well as the 44-unit Apex condominium community and ground-floor retail space. Prospsera Hospitality is managing the property. This newest hotel is the 40th in the Aloft brand to open since its 2008 launch.
CHICAGO — Oxford Capital Group and Langham Hotels and Resorts are relaunching the development of Langham Chicago Hotel at 330 North Wabash in Chicago. Expected to open in 2012, the hotel will occupy approximately 375,000 square feet at 330 Wabash, including floors two through 13 and a portion of the first floor and riverfront plaza. The hotel will offer 330 guestrooms and suites ranging from 525 to more than 2,000 square feet. Additionally, the hotel will feature 20,000 square feet of meeting and event space, including a 5,000-square-foot ballroom with urban and river views. The hotel will also house a 9,000-square-foot chef-driven restaurant, as well as a wine room, a fitness center, an indoor pool and Langham's signature Palm Court and award-winning Chuan Spa. Oxford OG Hospitality Chicago is developing the project.
NEW YORK CITY — New York City-based MCR Development has acquired a 10-hotel portfolio for approximately $164 million. The portfolio contains a total of 1,100 rooms. The properties include six Marriot-branded hotels and four Hilton-branded hotels located in Connecticut, New Jersey, New York and Pennsylvania. The flags include Residence Inn by Marriott, Springhill Suites by Marriott, Courtyard by Marriott, Hilton Garden Inn and Hilton Homewood Suites. The properties average less than two years in age. MCR Property Management will manage the hotels. The seller's name was not released.
NEW YORK CITY — The grand opening has been held for the new Best Western Plus Prospect Park Hotel. The new hotel is located at 764 4th Avenue in Brooklyn and contains 99 guestrooms. Amenities include a fitness center, a 3,200-square-foot spa, a business center and meeting space. The hotel's owner is 764 4th Avenue Associates LLC.
