CHEROKEE, N.C. — Turner Construction Co. has been tapped to build the 500,000-square-foot Harrah’s Cherokee Hotel Tower III, a 21-story extension to the casino. The property is located on Casino Drive in Cherokee. The $120 million tower will include 68 hotel suites and 454 rooms. Completion is slated for December 2010.
NEW YORK CITY — Peter Berk and Michael Sonnabend, formerly affiliated with AFC Realty Capital, recently formed PM Realty Capital and its subsidiary PM Hotel Finance Group. The firm, which is headquartered at 845 Third Ave. in Manhattan, New York City, will offer real estate investment banking services on a nationwide basis. Together, the duo brings a combined 40 years of experience to the marketplace. Berk, who will spearhead the firm’s hotel practice, has financed more than $5 billion of hotels representing more than 20,000 rooms in his career.
PUEBLO, COLO. — Randy Lee of Mumford Co.’s Dallas office represented Motel 6 and Accor Hospitality in the sale of the Motel 6 property in Pueblo. The buyer, Rocky Mountain Lodging, plans to re-brand the hotel to an alternative franchise. The acquisition price was not disclosed.
KISSIMMEE, FLA. — Supertel Hospitality has sold the 116-room Masters Inn Orlando/Kissimmee Main Gate to Reliance Industries for an undisclosed amount. The buyers are planning to turn the property, which is located at 2945 Entry Point Blvd. in Kissimmee, into a Quality Inn & Suites. Steve Kirby, Burton Brooks and David Holcombe of Mumford Co.’s Atlanta office and David Mumford of the firm’s Newport News, Va., office represented the seller. Mumford Co. also represented the buyer.
HOUSTON — Clinton Investments has broken ground for a new Holiday Inn, located in Houston’s Westway Park mixed-use development. The five-story hotel will contain 122 rooms. It is the second hotel in the state to be built to Holiday Inn’s new design concept, a contemporary design that caters to the Baby Boomer demographic. The hotel will feature a full-service restaurant, a business center, a fitness center, meeting facilities, a pool and an activity area. The hotel is situated adjacent to Carolyn Wolff Park, a 3-acre urban arboretum. Construction of the hotel is scheduled for a spring 2010 completion. Westway Park is a 150-acre development located at the intersection of Sam Houston Tollway and Clay Road. It is owned by Wolff Companies.
WILMINGTON, N.C. — The Generation Companies has broken ground on the 118-room Homewood Suites/Wilmington-Mayfaire extended-stay hotel at 6732 Swan Mill Rd. in Wilmington. Unit amenities include high-speed Internet and a full kitchen. The property also features an executive business center, a fitness facility and a pool. Delivery is expected next spring.
WASHINGTON, PA. — Concord Hospitality Enterprises has secured a $10.8 million loan to construct a new Courtyard by Marriott in the Pittsburgh suburb of Washington. The Courtyard by Marriott – Meadow Lands will be located at the interchange of Interstate 79 and Racetrack Rd. near Tanger Outlets. It will contain 124 rooms and is scheduled to open in fall 2010. The lender was S&T Bank. The bank also provided Concord with a $13.4 million loan late last year for the construction of a Courtyard by Marriott in Settlers Ridge, Pa. S&T ha financed eight of Concord’s 10 Pittsburgh-area properties.
ORANGE CITY, IOWA — Mumford Co. has brokered the sale of a Super 8 Motel located in Orange City. Constructed in 1999, the motel contains 34 rooms and is situated at 819 Lincoln Place. Lance Potter of Mumford’s Chicago office represented the seller, MW Hart. The buyer and the acquisition price were not disclosed.
SAN ANTONIO — San Antonio-based K Partners Hospitality Group has held the grand opening for the new Courtyard by Marriott Sea World/Westover Hills, located in San Antonio. The 179-room hotel is situated within the 1,270-acre, master-planned Westover Hills development. It is an official Sea World-approved hotel, which offers vacation packages and shuttle services for the nearby San Antonio Sea World. Hotel amenities include a restaurant, complimentary high-speed Internet access, 10,000 square feet of meeting space, an indoor/outdoor swimming pool with a swim-up bar and a whirlpool, a fitness center, a business center and a lobby lounge with an outdoor veranda.
SUGAR LAND, TEXAS — Planned Community Developers has announced that a new Hyatt Place hotel will be coming to Lake Pointe Town Center, the company’s urban-style, mixed-use development located at the intersection of highways 6 and 59 in Sugar Land. The 135,000-square-foot hotel will be constructed on 3.7 acres along Brooks Lake and will contain 214 rooms. The Hyatt Place project will be developed by a joint venture between Chicago-based Hyatt Hotels & Resorts and Dallas-based Woodbine Development Corp. Upon completion, it will be the second Hyatt Place in the greater Houston area. The construction timetable was not released.