NEW YORK CITY — The Best Western President Hotel in New York City's Times Square has reopened following a $15 million renovation. The remodeling, which was undertaken by architectural firm Stonehill & Taylor, features a prominent presidential theme. The hotel's primary color scheme is purple to signify the combination of Democratic blue and Republican red. The lobby contains décor from the Lincoln and Jeffersonian eras, and each guest room contains artwork depicting past presidents and first ladies. Owned by Hampshire Hotels, the 15-story Best Western President Hotel contains 334 rooms and 44 suites. It features two on-site restaurants, a lobby cocktail lounge, a 24-hour fitness center, a business center and conference facilities.
LOS ANGELES — Investment Real Estate Associates (IREA) brokered the $35 million sale of a 208-room landmark hotel located where Sunset Boulevard meets the 405 freeway in the Brentwood area of Los Angeles. IREA’s Yubin Tao represented the seller, a private party, while the firm’s Clark Everitt, William Everitt and James Bekker represented the buyer, also a private party. The hotel property was built in 1973 and completely renovated in 2006.
MIAMI BEACH, FLA. — A group of South American-based investors has purchased the 104-unit Raleigh Hotel South Beach Miami from a private seller for an undisclosed amount. The property, which was built in 1940, is located on Collins Avenue in Miami Beach. Amenities include a lobby coffee shop, a martini bar and a poolside restaurant. Ali Baheri of Molinaro Koger brokered the transaction.
CAMP HILL, PA. — Camp Hill-based Campbell Commercial Real Estate has brokered the sale of 2.11 acres of land on Arthur Avenue in the Lower Allen Township of Camp Hill. The buyer, Little Rock, Ark.-based Motel Sleepers, plans to construct a 70-room hotel and restaurant on the site. The hotel will be for private industry use only but the restaurant, a 24-hour diner, will be open to the public. Construction will begin immediately and is expected to take 6 months. The seller in the land transaction was United Methodist Home for Children.
ALTAMONTE SPRINGS, FLA. — An undisclosed Georgia-based party has sold a 210-room Hampton Inn to a Tennessee-based investment group for $10 million. The property, which was built in 1993 and renovated in 2006, is located at 151 N. Douglas Ave. in Altamonte Springs. Douglas Dial of Marcus & Millichap’s Orlando, Fla., office and Jonathan Ruprai of the firm’s Denver office represented the seller. Jaimin Patel of the firm’s Tampa, Fla., office represented the buyer.
LINCOLN, NEB. — North Liberty, Iowa-based Kinseth Hospitality Corp. (KHC) and Omaha, Neb.-based Dial Realty Corp. have developed Hampton Inn & Suites – Northeast I-80, an 82-unit hotel located at the intersection of Interstate 80 and North 27th Street in Lincoln. The hotel features high-speed wireless Internet access, flat screen televisions, the Husker Meeting Room, the Lincoln Boardroom, an indoor pool, a fitness center and a business center. Additionally, KHC and Village Gardens Development Co. have opened a 91-unit Residence Inn, which is located at the intersection of Pine Lake Road and South 56th Street in Lincoln. Situated within The Marketplace at Village Gardens, the three-story hotel features The Gatehouse, which houses the hotel’s front desk; Hearth Room and The Market, a 24-hour self-service food and beverage area.
SAN ANTONIO — Two new Marriott-branded hotels have opened at The RIM, an 800-acre master-planned community located in San Antonio. The first hotel is the 131-suite Residence Inn San Antonio Northwest, which is located at 5707 Rim Pass Dr. The hotel features studio, one- and two-bedroom suites with fully equipped kitchens. Amenities include an outdoor swimming pool, an exercise room, a social room, a restaurant and 500 square feet of meeting space. The second hotel is the 124-room Courtyard San Antonio Northwest, which is located at 5731 Rim Pass Dr. The hotel features Courtyard's newly redesigned lobby and guest rooms. Amenities include 1,200 square feet of meeting space, an outdoor swimming pool with a whirlpool, a fitness center and a business center. Both hotels are owned and operated by Raleigh, North Carolina-based Concord Hospitality Enterprises.
CONROE, TEXAS — Houston-based Arch-Con Construction has completed a new Hampton Inn & Suites located in Conroe. The 105-room, 64,994-square-foot hotel is situated at 2242 Stoneside Rd. Hotel amenities include an outdoor swimming pool, a fitness center and a business center.
BATON ROUGE, LA. — Milton J. Womack Inc. has started work on the 48,000-square-foot Hotel Indigo Downtown Baton Rouge Riverfront, a 93-room renovation of the historic Hotel King. The $25 million property will be located at the intersection of Convention and Lafayette streets in Baton Rouge. Funding for the project was secured through Historic Tax Credits, private equity sources and New Market Tax Credits. Coleman Partners Architects designed the building, which will deliver late next year.
BLOOMINGTON, MINN. — Holiday Inn Bloomington Airport I-35, which is managed by North Liberty, Iowa-based Kinseth Hospitality Cos., is currently undergoing the Holiday Inn brand relaunch. The renovated the hotel now features improved signage, new outdoor lighting, landscaping, a redesigned lobby and reception desk, high-speed Internet access, an indoor pool, a whirlpool and Green Mill Restaurant & Bar. The guest rooms feature signature comfort bedding, four-function showerheads, granite vanities and 100 percent ultra soft cotton linens. The hotel is located at 1201 W. 94th St. in Bloomington.