ELIZABETH, N.J. — Following a $10 million renovation and conversion, the grand reopening has been held for the Crowne Plaza Newark Airport, located at 901 Spring St. in Elizabeth. Formerly a Four Points by Sheraton, the 11-story hotel features 260 rooms. Amenities include indoor and outdoor swimming pools, a fitness center, a business center, 6,000 square feet of meeting space and complimentary shuttle service to nearby Newark Liberty International Airport. The hotel is owned and managed by Newark Four Port LLC under an exclusive license agreement with InterContinental Hotels Group.
MILWAUKEE — Site preparation work has begun on a $27 million Aloft Hotel, which will be located along the Milwaukee River within the Park East Corridor of Milwaukee. The five-story hotel, which is a member of the Starwood Hotels & Resorts Worldwide Inc. brand, will feature 160 rooms and is slated for completion in November 2009. Using $1 million in Tax Incremental Financing, the city of Milwaukee, in conjunction with Milwaukee River Hotel LLC, is developing a Riverwalk segment, dockwall, public plaza and street improvements as part of the project. More than $800 million in development is already underway or has been completed within the Park East Corridor.
TAMPA, FLA. —Tampa-based BayStar Hotel Group will develop a 168-room Hotel Indigo in the downtown Tampa community of Channelside. Hotel amenities include a heated swimming pool, 2,700 square feet of meeting space and a casual gourmet restaurant. The property is owned by Seaboard Hotel Associates, a joint venture between BayStar and St. Petersburg, Fla.-based Ballast Point Group. Groundbreaking is set for the first quarter of next year, and delivery of the $29 million project is expected in 2010. This is the second Hotel Indigo slated for Tampa; Baystar is also redeveloping downtown Tampa’s Heritage Hotel into a Hotel Indigo, which will deliver in 2009.
MIAMI — The newly constructed 124-room Hilton Suites by Hilton Miami — Airport West has opened its doors at 3590 N.W. 74th Ave. in Miami. Owned and managed by Boca Raton, Fla.-based Economos Properties, the new hotel features a swimming pool, 888 square feet of meeting space, an executive business center and a 24-hour pantry.
NEW YORK CITY — Gemini Real Estate Advisors has acquired the Wyndham Garden Chelsea Hotel, located at 37 W. 24th St. in the Chelsea neighborhood of Manhattan, New York City. The 124-room, select-service hotel is situated within the city’s Flatiron District, in close proximity to Madison Square Park, Union Square Park, the Flatiron Building and the Metropolitan Life Building. The seller, as well as the sale price, were not disclosed.
WINDSOR, CALIF. — Basin Street Hospitality, a division of Basin Street Properties, has completed the development of a Hampton Inn & Suites in Windsor. The 116-room hotel offers high-speed wireless Internet access, a swimming pool, a hot tub, a PreCor Fitness Center and more than 1,200 square feet of meeting room space. The company is also developing a 102-room Hampton Inn & Suites in Suisun City, Calif.
HUNTSVILLE, ALA. —Blackburn Development/YRG Hotel Group will break ground in January on the 150-room Springhill Suites hotel in Huntsville. Each unit includes a microwave and a mini-fridge, and the property features a conference area, a pool and a fitness center. Forum Architecture & Interior Design serves as the interior designer of the hotel. Delivery is expected in January 2010.
LANCASTER, PA. — Marcus & Millichap has completed the sale of a 78-unit Country Inn & Suites located in Lancaster. Jeff Rake and Gordon Allred of Marcus & Millichap represented both undisclosed parties in the transaction. The acquisition price was not disclosed, but the property traded at a 9 percent cap rate. The property is located in the heart of Pennsylvania Dutch Country, and enjoys an 85 percent repeat visitor rate among business travelers, as well as close proximity to the area’s major tourist attractions.
MIAMI — With an eye toward building a 250-room Embassy Suites, HP Hotels has purchased 22,700 square feet of commercial land from an assemblage of three owners for $6.26 million. Brickell Station Associates, 1000 Brickell Ltd. and Metro Brickell Villas Ltd. banded together to sell the land, located at 1001 S.W. 1st Ave. in Miami. Louis Gallo of The Allen Morris Company and Max Puyanic of Commodore Realty brokered the transaction.
PUEBLO, COLO. — Brothers Hospitality Development has completed the disposition of Hampton Inn & Suites in Pueblo. Apple Nine Hospitality Ownership Inc. acquired the property for an undisclosed price. The hotel is located along Interstate 25 on the south side of Pueblo. Larry Kaplan and Mark Darrington of HREC Investment Advisors’ Denver office brokered the transaction.