DALLAS — Dallas-based Ashford Hospitality Trust has procured $145 million in non-recourse financing for the refinancing of five of its hotel properties. The portfolio totals 1,460 rooms and includes four Hilton hotels in California, Virginia, Florida and Oregon, and a Hilton hotel located in California. The financing package carries a 6-year term and includes a first mortgage provided by Prudential and a mezzanine loan provided by Wheelock Street. The loan was arranged by Hodges Ward Elliott. Proceeds will be used to retire a $75 million loan maturing next year and a $65.2 million loan maturing in 2011. The loan also provides $4 million for capital improvements to be completed over the next 2 years. Two Hilton-branded hotels located in New York and Michigan that were formerly included in the portfolio are now unencumbered.
LAS VEGAS — Vdara Hotel & Spa has opened at CityCenter on the Las Vegas Strip. Located directly adjacent to ARIA Resort & Casino and physically connected to Bellagio, the all-suite hotel and spa, the first to open at CityCenter, is designed for those who enjoy the excitement of Las Vegas but prefer an exclusive, non-gaming, smoke-free environment.
NOGALES, ARIZ. — The 65-room Best Western Sonora Inn and Suites has opened at 750 W. Shell Rd. in Nogales. Owned by Tom Bhakta, the brand-new, non-smoking hotel offers amenities such as an outdoor heated swimming pool, a hot tub, a fitness center and a guest laundry facility. Located near the Mexico border, Best Western Sonora Inn and Suites will celebrate its grand opening today.
CLEARWATER, FLA. — Pure Water Hotel Group has opened the 146-room Best Western Clearwater Grand Hotel and Suites in Clearwater. The hotel is located at 20967 U.S. Highway 19. Features include an outdoor heated pool, fitness and business centers, 6,000 square feet of meeting space and the Bayside Bar and Grill.
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.