Hospitality

MK STRUCTURES SALE OF RESIDENCE INN

by admin May 7, 2008

LUBBOCK, TEXAS — Vienna, Va.-based Molinaro Koger (MK) has facilitated the sale of a Residence Inn by Marriott in Lubbock. Lion ES Hotels II LLC sold the 80-suite, extended-stay property to SA Laredo Enterprises Inc., which has obtained a long-term franchise agreement with Marriott International to continue operating the hotel as a Residence Inn. Greenbelt, Md.-based Baywood Hotels has assumed management of the hotel. Andy Kern of MK’s headquarters office represented the seller in the transaction.

May 7, 2008

HERT DEVELOPMENT CO. TAKES 59-ROOM BEST WESTERN HOTEL

by admin May 7, 2008

MONTROSE, CALIF. — Glenwood Springs, Colo.-based Hert Development Co. has purchased the Best Western Red Arrow Motor Inn, which is located at 1702 E. Main St. in Montrose. The 59-room hotel sold for $2.75 million. Christian Child and Mike Francis of Marcus & Millichap’s Salt Lake City office represented the seller, Indiantown, Fla.-based MJGJ LLC, in the transaction.

May 7, 2008

Hospitality Southeast

WEST VIRGINIA HOLIDAY INN CHANGES HANDS

by admin May 5, 2008

BLUEFIELD, W.VA. — Stafford Hospitality has acquired Holiday Inn Bluefield, a 120-room property in Bluefield, from Equity Inns. The property is located near Interstate 77 and features a swimming pool, fitness center, sauna, restaurant/lounge and 3,500 square feet of meeting space. Ros Mallory of Jones Lang LaSalle represented the seller.

May 5, 2008

Hospitality Southeast

THE MANSION AT PEACHTREE OPENS FOR BUSINESS

by admin May 5, 2008

ATLANTA — Dallas-based Rosewood Hotels & Resorts has opened The Mansion at Peachtree, a 42-story, hotel and condominium tower in Atlanta’s Buckhead District. The property features 127 hotel rooms and 45 residential units. Two fine dining restaurants, NEO and Craft Atlanta, will open this month and in September, respectively. The Mansion was designed by architect Robert A. M. Stern.

May 5, 2008

Hospitality Midwest

NYLO HOTEL COMING TO CORBIN PARK

by admin May 5, 2008

OVERLAND PARK, KAN. — Atlanta-based NYLO Hotels LLC has announced plans for a 160-room NYLO Hotel in Overland Park. Located within the 96-acre Corbin Park mixed-use development at the corner of 135th Street and Metcalf Avenue, the hotel will feature loft-style rooms with ceiling heights exceeding 10 feet. Hotel amenities will include a business center, a gym, a clothing boutique, and a 24-hour restaurant and bar. Groundbreaking is expected to occur soon, with completion in mid-2009. The NYLO Hotel will serve as one of the anchors of Corbin Park. It is the company’s fifth hotel and first in the Midwest.

May 5, 2008

Hospitality Texas

K PARTNERS BREAKS GROUND ON TWO HOTELS

by admin May 1, 2008

MANSFIELD, TEXAS — San Antonio-based K Partners Hospitality Group has broken ground on two hotels in the heart of Mansfield. The 83-room Fairfield Inn & Suites will feature an indoor pool, a whirlpool, a boardroom and a fitness center. The 88-room Hampton Inn & Suites will offer an outdoor pool and spa, 1,500 square feet of meeting space with a boardroom, and a fitness center.

May 1, 2008

Hospitality Texas

NYLO HOTELS BEGINS CONSTRUCTION ON 200-ROOM HOTEL

by admin May 1, 2008

IRVING, TEXAS — NYLO Hotels LLC recently broke ground on its third property, a 200-room hotel in Irving’s Las Colinas mixed-use community. NYLO Las Colinas will be an upscale, loft-style hotel featuring a 3,000-square-foot ballroom; an outdoor courtyard; a full-service restaurant; a high-energy bar; meeting space; a business center; a high-tech gym; a game room; a library; and a boutique shop. ORIX Real Estate Capital of Chicago provided financing, and Key Construction Texas LLC is the general contractor.

May 1, 2008

Hospitality Southeast

JACKSONVILLE AIRPORT MICROTEL PROTOTYPE OPENS

by admin April 30, 2008

JACKSONVILLE, FLA. — The Jacksonville Airport Microtel, a 77-room, three-story property owned by JAX Lodging and principals Gregory and Kim Spatz of Pompano Beach, Fla., has opened at 13200 International Airport Blvd. The hotel features Microtel’s new prototype design and includes single, double and suite accommodations. Amenities include a fitness center, business center, swimming pool and meeting room. The general contractor was United States Construction Corp., and the property will be managed by SKY Hospitality of Palm Harbor, Fla.

April 30, 2008

Hospitality Southeast

HAMPTON MARINA HOTEL CHANGES HANDS

by admin April 30, 2008

HAMPTON, VA. — Hampton Hotel Associates, an affiliate of MHI Hospitality, has purchased Hampton Marina Hotel, a nine-story, 172-unit property in downtown Hampton, from the Hampton Economic Development Corp. David Mumford of The Mumford Company’s Newport News, Va., office was the sole broker and exclusively represented the seller. The new owner plans to invest more than $5 million to reposition the property as a Crowne Plaza.

April 30, 2008

Hospitality Midwest

MOLINARO KOGER FACILITATES 234-ROOM HOTEL SALE

by admin April 30, 2008

IOWA CITY, IOWA — The Chicago office of Molinaro Koger (MK) has facilitated the sale of a 234-room Sheraton Hotel located adjacent to the University of Iowa in Iowa City. The hotel features more than 26,000 square feet of flexible meeting space, two restaurants with combined seating for 520, a full-service business center, a locally managed fitness center, an indoor swimming pool and a whirlpool. John Jameson of MK represented the seller, Ashford Hospitality Trust. The hotel was acquired by a joint venture involving Davidson Hotel Co. and Rockbridge Capital. It will remain a Sheraton and will be managed by Davidson. The purchase marks the sixth university-related hotel acquired by Davidson.

April 30, 2008

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