SAN MARCOS, TEXAS — The grand opening has been held for the Embassy Suites San Marcos – Hotel, Spa & Conference Center, a $50 million hotel and spa located in San Marcos. The 10-story hotel features 283 suites, and the adjacent conference center totals more than 80,000 square feet. The conference center is owned by the city of San Marcos and managed by John Q. Hammons Hotels & Resorts. The hotel and spa is privately owned by John Q. Hammons and managed by his Springfield, Mo.-based hospitality company.
MINNEAPOLIS — The New Jersey and Minneapolis offices of NorthMarq Capital have arranged an $11.65 million loan for the construction of a hotel, which will be located in Minneapolis. A local hotelier has plans to build a 124-room extended-stay hotel representing one of the Hilton family brands. NorthMarq has secured 70 percent loan-to-cost financing for the client. Additional terms of the loan were not disclosed.
HOLTSVILLE, N.Y. — Construction has been completed for The Crowne Plaza Long Island-MacArthur Airport, located at 1730 N. Ocean Ave. in Holtsville. The hotel underwent an approximately $7 million renovation that converted it from a Radisson-branded hotel. The Crown Plaza features 188 rooms, 5,500 square feet of flexible meeting space, including a 3,000-square-foot ballroom, and a YOGI’S Grill & Sports Bar restaurant. The hotel is owned by Holtsville Hospitality and managed by Om Hospitality, under a license agreement with Atlanta-based InterContinental Hotels Group.
PLYMOUTH MEETING, PA. — RockBridge has secured $11.7 million in first-mortgage financing for a 150-suite Hyatt Summerfield Suites located in Plymouth Meeting. The all-suite, extended stay hotel features rooms with fully equipped kitchens, walk-in closets and dedicated work space. The owner-operator of the property, Wichita, Kan.-based LodgeWorks, plans to complete a $1.3 million renovation to the property in the future. The lender, as well as the terms of the loan, were undisclosed.
BEVERLY HILLS, CALIF. — Newmark Realty Capital Inc. has arranged $30 million in permanent financing for the fee interest in the Beverly Hills Four Seasons Hotel. The hotel, which is located at 300 S. Doheny Dr., offers 285 rooms. George Mitsanas and Monique Monzon of Newmark Realty Capital arranged the financing. Specific terms of the transaction were not disclosed.
CHEVY CHASE, MD. — Grosvenor has begun a $35 million renovation of a 214-unit Holiday Inn hotel, located at 5520 Wisconsin Ave. in Chevy Chase. The property will be rebranded as a Courtyard by Marriott. The project also calls for adding 1,500 square feet of retail space to the adjacent Chevy Chase Plaza and will be complete by spring. Renovations include expanding the hotel’s capacity to 226 rooms and pursuing a Silver LEED rating. Low-flow shower heads and toilets, energy-efficient windows and a reflective roof are some of the planned environmental features. Grosvenor bought the 112,500-square-foot Holiday Inn and the 40,000-square-foot Chevy Chase Plaza in 2004. Tenants at the plaza include Saks Jandel, Brooks Brothers, Sylene’s and Bank of America.
DETROIT — After undergoing a $90 million restoration, the Doubletree Guest Suites Fort Shelby/Detroit Downtown has opened at the intersection of Lafayette Boulevard and First Street in Detroit. The site formerly housed the Hotel Fort Shelby, which first opened in 1917, and is on the National Register of Historic Places. Hilton Hotels Corp. will manage the Doubletree Guest Suites, which is owned by MCP Development. The 203-room facility is one of the only all-suite hotels in downtown Detroit. Additionally, the property features 21,000 square feet of conference and event space that was designed to achieve certification by the International Association of Conference Centers. Amenities of the conference and event component include hard-surface meeting tables, ergonomic conference seating, built-in audio/video and computer networking systems, and a comprehensive business center. Renovations also included the addition of the Finn & Porter restaurant, the Finn & Porter Sushi Bar, the Finn & Porter Round Bar lounge and a Bearclaw Coffee shop.
BLOOMINGTON, IND. — After undergoing $12 million in renovations, the Crowne Plaza Bloomington is expected to open this month. The 118-room hotel, which was converted from a Radisson, is located at 1710 N. Kinser Pike in Bloomington. Amenities at the four-story property include a fitness center, outdoor pool, full service restaurant, and 2,700 square feet of meeting space for business functions and special events. The facility is owned by Kinser Group, and is managed by Tristar Hotels Group, under a license agreement with a company in the InterContinental Hotels Group.
OKEMOS, MICH. — Staybridge Suites Lansing-Okemos has opened less than 1 mile from Michigan State University at 3553 Meridian Crossings Dr. in Okemos. The three-story property features 95 guest rooms, including 53 studios, 30 one-bedrooms and 12 two-bedrooms. Amenities at the all-suite hotel include an indoor pool with whirlpool, 24-hour guest laundry and workout facilities, and a boardroom for business meetings. The hotel is owned by Peninsula Hotel Group, and is managed by American Hospitality Management under a license agreement with a company in the InterContinental Hotels Group. The cost of completion for the project was $8.2 million.
NEW YORK CITY —A $55 million construction loan has been secured for a new upscale hotel currently under construction at the corner of Lexington Avenue and 48th Street in Midtown Manhattan, New York City. The 25-story tower will feature 116 guest suites. Hotel amenities will include a library lounge, a wine bar and café, an executive boardroom and a fitness center with in-room spa services. The project will also include 3,800 square feet of retail space fronting Lexington Avenue, which will be located on the ground and first floors of the building. Completion is scheduled for 2010. The loan was arranged by locally based Cushman & Wakefield Sonnenblick Goldman. The project is being developed by executives from Hersha Hospitality Trust. Upon completion, the hotel will be managed by Hersha Hospitality Management LP. Terms of the financing were not disclosed.