Hospitality

RENOVATIONS UNDERWAY FOR SUSTAINABLE HOLIDAY INN

by admin June 13, 2008

GAITHERSBURG, MD. — Construction is underway on the $9 million renovation of the Holiday Inn Gaithersburg, which is located at 2 Montgomery Ave. The exterior renovation, which includes a complete upgrade of the façade, is 50 percent complete. Interior renovations include high-tech amenities in each of the 300 guestrooms, a revitalization of the main ballroom and an expanded business center. Environmentally sound improvements at the facility include low-flow toilets and showerheads, recycling containers in every guestroom, and environmentally friendly paint. During construction, the hotel will remain open for business.

June 13, 2008

JOINT VENTURE ACQUIRES 194-ROOM HYATT REGENCY SUITES

by admin June 13, 2008

PALM SPRINGS, CALIF. — RockBridge Partners, an affiliate of RockBridge Capital LLC, and Davidson Hotel Company have acquired Hyatt Regency Suites in Palm Springs from PSH Holdings Inc. for an undisclosed price. Located at 285 N. Palm Canyon Dr., the property features 194 one-bedroom suites, private balconies, mountain/desert views, high-speed Internet access, a full-service dining room, a putting green, a pool, a spa and 9,200 square feet of flexible meeting space. An $18.5 million renovation is planned for the property. The renovation, which will begin summer 2009, will upgrade virtually every aspect of the property. Davidson, who holds a minority interest in the joint venture, will coordinate the renovation and manage the hotel. Newport Beach, Calif.-based Maxim Hotel Brokers advised both parties in the transaction.

June 13, 2008

Hospitality Southeast

MOLINARO KOGER BROKERS FOUR-DIAMOND HYATT HOTEL SALE

by admin June 12, 2008

HERNDON, VA. — On behalf of Dallas-based Ashford Hospitality Trust, Molinaro Koger has arranged the sale of the Hyatt Hotel Washington Dulles International Airport located in Herndon Virginia. The 316 all-suite facility was acquired by Annapolis, Md.-based Thayer Lodging Group. With a Four-Diamond rating, the hotel will retain the Hyatt brand and continue to be managed under a long-term agreement with Global Hyatt Corporation. Amenities at the facility, which is located less than 2 miles from Washington Dulles International Airport, include an indoor pool, a high-energy fitness center and 10 meeting rooms with 7,250 square feet of meeting space. The price of the acquisition was not disclosed.

June 12, 2008

Hospitality Texas

IHG OPENS HOLIDAY INN

by admin June 12, 2008

ARLINGTON, TEXAS — Atlanta-based InterContinental Hotels Group (IHG) will hold the grand opening this month for the 147-room Holiday Inn Arlington-Northeast, located at 1311 Wet and Wild Way in Arlington. The 102,000-square-foot hotel will feature The Sporting News Grill, marking the sports bar and restaurant’s second location to open inside a Holiday Inn. The hotel will feature complimentary high-speed Internet access, outside patios, a media room with a 62-inch LCD hi-definition television, complimentary airport shuttle service and 2,400 square feet of meeting space. It was designed by Fort Lauderdale, Fla.-based Zspace. The hotel is owned and operated by Newcrestt Management under a license agreement with IHG.

June 12, 2008

Hospitality Southeast

JONES LANG LASALLE HOTELS BROKERS $24.8 MILLION SALE

by admin June 11, 2008

MIAMI BEACH, FLA. — On behalf of Oaktree Capital, Jones Lang LaSalle Hotels has brokered the $24.8 million sale of the Breakwater Edison Hotel in Miami Beach to Nakesh. LaSalle was retained by the appointed bankruptcy trustee for the hotel, Barry Mukamal of Rachlin LLP. The property, which combines two buildings that can accommodate 94 guestrooms, is undergoing significant redevelopment.

June 11, 2008

Hospitality Midwest

ROCKBRIDGE CAPITAL PROVIDES $10.1M FOR HOTEL ACQUISITION

by admin June 11, 2008

WICHITA, KAN. — RockBridge Capital has provided $10.1 million in first-mortgage financing to A.G. Holdings for the development of a 102-room SpringHill Suites in Witchita. The all-suite hotel, which will be located adjacent to the Plazzio lifestyle center, will be developed, owned and operated by A.G. Holdings.

June 11, 2008

Hospitality Midwest

THE MUMFORD COMPANY ARRANGES $1.43 MILLION INN SALE

by admin June 11, 2008

MADISON, IND. — The Mumford Company has represented BAC Hotel Management in the approximately $1.43 million sale of the Country Hearth Inn of Madison. The inn was acquired by the Virginia-based multi-unit owner/operator, Lighthouse Lodging LLC. David Mumford and Ed James of Mumford’s Newport News, Va., headquarters and Tom Sommer of the firm’s Chicago office arranged the sale. The property will undergo renovations before continuing to operate as a Country Hearth Inn.

June 11, 2008

Hospitality Texas

LALANI TO DEVELOP TWO HILTON HOTELS

by admin June 11, 2008

WACO AND WICHITA FALLS, TEXAS — Wichita Falls-based Lalani Hospitality Group I is developing two Hilton hotels in Texas. The first is an 88-room Homewood Suites by Hilton located in the 150-acre Legends Crossing mixed-use development in Waco. Groundbreaking is set to occur in the third quarter. The second hotel is an 88-room Hilton Garden Inn located in Wichita Falls, adjacent to a Homewood Suites developed by Lalani in 2005. Construction will begin in the second quarter of 2009. Lalani Lodging, an affiliate of Lalani Hospitality Group I, will manage both properties.

June 11, 2008

Hospitality Midwest

HOTEL INDIGO PROJECT ANNOUNCED FOR HISTORIC BREUER TOWER

by admin June 10, 2008

CLEVELAND — InterContinental Hotels Group has announced plans to build a new Hotel Indigo in the historic Breuer Tower, which is located at the intersection of Euclid Avenue and East Ninth Street in downtown Cleveland. Construction is expected to begin this fall on the adaptive reuse of the mid-century landmark building and completion for the LEED-certified project is slated for spring 2010. The 12 lower levels of the facility will be redeveloped into the hotel and the upper floors will be reserved for residential space. The owner, The K&D Group, is facilitating a $200 million redevelopment of the area. Hotel Indigo will feature a casual gourmet restaurant, wireless high-speed Internet access throughout the hotel, and 3,000 square feet of meeting space for business functions or special events.

June 10, 2008

Hospitality Southeast

RODEWAY INN TRADES HANDS IN ROANOKE, VA.

by admin June 9, 2008

ROANOKE, VA. — Star City Lodging has acquired Rodeway Inn at an undisclosed price from Mountain Valley Associates. The buyer, a regional, multi-unit owner and operator, plans to renovate the property. It will remain in the Choice Hotels brand family. David Mumford and Ed James of the Mumford Company structured the sale.

June 9, 2008

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