THOUSAND OAKS, CALIF. — A new 125-room Hampton Inn & Suites has opened at 510 N. Ventu Park Rd. in Thousand Oaks. The hotel’s opening completes the first phase of Thousand Oaks Marketplace, a development of NewMark Merrill Cos. Owned and operated by OTO Development LLC, the hotel offers free Wi-Fi and HD flat-panel TVs as well as a pool and an exercise room.
SEARCY, ARK. — Best Western International's Best Western Searcy Inn has opened in Searcy. Located at 501 Willow St., the hotel boasts 71 guest rooms, an indoor swimming pool, a 24-hour fitness center, a business center and a board room. The hotel also offers wireless high-speed Internet access. Best Western Searcy Inn is located near a variety of attractions including the Searcy Art Gallery, Searcy Sports Complex and Harding University.
EL PASO, TEXAS — San Antonio-based K Partners Hospitality Group has held the grand opening for the new Fairfield Inn & Suites located at 7514 Remcon Circle in El Paso. The 95-room hotel is part of a 5-acre hotel complex that also includes a 103-room Springhill Suites that opened in August. The Fairfield Inn & Suites features an indoor swimming pool with a whirlpool, 600 square feet of meeting space, an executive boardroom, a business library and work areas. It marks the 20th hotel in K Partners' portfolio to open.
CHARLOTTE, N.C. — Birmingham, Ala.-based Robins & Morton has completed shell and core construction of the $22 million Mercy Medical Plaza in Charlotte. The property is located at Carolinas Medical Center-Mercy and will open later this year. Mercy Medical Plaza is a 150,000-square-foot building that features 12 operating rooms and 75,000 square feet of tenant space. The Chicago office of RTKL designed the project.
GAINESVILLE, VA. — Orlando, Fla.-based Liberty Lodging is putting the finishing touches on a 113-room Value Place in Gainesville and is targeting an early December opening for the hotel. The property is located 40 miles southwest of Washington, D.C., on John Marshall Highway. The extended-stay hotel includes a full kitchen and a work table in each unit.
BATON ROUGE, LA. — Interstate Hotels & Resorts has sold the Hilton Garden Inn Baton Rouge Airport to a fund managed by Fairwood Capital for $10.6 million. The property is located at 330 Harding Boulevard in Baton Rouge. Amenities include a fitness center, a business center and a pool. Interstate will use the sale as a way to pay down its senior credit facility, which matures in 2012.
TITUSVILLE, FLA. — An undisclosed bank has sold a Titusville Comfort Inn to a private party for $3 million. The 117-room property, which was built in 1974, is located at 3655 Cheney Highway. Jaimin Patel of Marcus & Millichap’s Tampa, Fla., office marketed the property for the seller.
PORTAGE, IND. — Best Western International has added Best Western Portage Hotel and Suites to its international hotel chain. Located at 6200 Melton Rd. in Portage, the 100-room hotel features a family aquatic center, a 24-hour fitness center, a game room, complimentary breakfast, a 24-hour business center, wireless high-speed Internet access and meeting space to accommodate up to 120 people. Guest rooms are equipped with refrigerators, microwave and complimentary high-speed Internet access.
SAN ANTONIO — Aries Capital's Urban Development Fund (UDF) has provided $21.5 million in financing for the development of the new Embassy Suites Riverwalk in San Antonio. The hotel will be located on Houston Street along the San Antonio Riverwalk. It will total 16 floors and 285 rooms. Amenities will include a 7,500-square-foot ballroom, a 7,000-square-foot grand atrium and two levels of below-ground parking. The new Embassy Suites is set to anchor the redevelopment of the Houston Street area. UDF's financing package consists of a $17 million senior loan, a $2.25 million junior loan and a $2.25 million equity investment. The investment also includes an allocation of New Market Tax Credits. The borrower's name was not disclosed.
ORANGE BEACH, ALA. — Balmaquien Hospitality, an affiliate of Innisfree Development, has commenced development of a new $31 million beachfront hotel in Orange Beach. The new hotel, which will be branded a Hampton Inn & Suites, will rise nine stories and contain 160 rooms. Amenities will include an outdoor pool with a tiki bar and beach access as well as 5,000 square feet of meeting space. The hotel will be situated across from the Shoppes at Palm Pointe. Preliminary site work is under way, with vertical construction expected to start in December. Completion is slated for early 2011. Birmingham, Ala.-based Robins and Morton is serving as general contractor, and Behar & Peteranecz is providing architectural services.