Hospitality

SWIG EQUITIES TO CONSTRUCT NOBU HOTEL AND RESIDENCES

by admin May 12, 2008

NEW YORK CITY — Swig Equities is set to construct Nobu Hotel and Residences, a new luxury mixed-use development in the financial district in Lower Manhattan, New York City. Located at 45 Broad St., the 62-story glass tower will include 13,000 square feet of retail on the second floor, Nobu restaurant on the third floor, a 128-room Nobu hotel and 77 condominium units on floors 41 through 62. David Rockwell of the Rockwell Group designed the facility. The mixed-use project is set to meet LEED certification upon completion.

May 12, 2008

HAMPTON INN SELLS FOR $7.5 MILLION IN NORTH CAROLINA

by admin May 9, 2008

SANFORD, N.C. — Asheville, N.C.-based Jala Inc. has acquired an 86-room, 42,000-square-foot Hampton Inn in Sanford, from Inn Keeper Inc., for $7.5 million. The three-story hotel features a meeting room, outdoor pool and fitness center. Anthony Falor of Atlanta-based Hodges Ward Elliott was the sole broker and exclusively represented the seller. After renovations, the property will continue its affiliation with the Hampton Inn brand.

May 9, 2008

Hospitality Midwest

HOTEL INDIGO OPENS THIRD CHICAGO LOCATION

by admin May 8, 2008

VERNON HILLS, ILL. — Hotel Indigo has opened its third Chicagoland property at 450 Milwaukee Ave. in the Chicago suburb of Vernon Hills. The 127-room hotel was formerly an Amerisuites Hotel before the owner, FCLC Vernon Hills, undertook a $5 million renovation and conversion of the property. Amenities at the six-story hotel include a restaurant and bar, 24-hour fitness and business centers, an indoor heated pool, 1,100 square feet of flexible meeting space, complimentary wireless Internet and 32-inch flat-panel televisions in each room. Hotel Indigo Chicago – Vernon Hills will be managed by Northbrook, Ill.-based Lane Hospitality under a license agreement with Atlanta-based InterContinental Hotels Group.

May 8, 2008

Hospitality Texas

CORUS CLOSES $165 MILLION LOAN FOR W HOTEL AND RESIDENCES

by admin May 8, 2008

AUSTIN, TEXAS — Corus Bank has closed a $165 million loan to finance the construction of the W Hotel and Residences in Austin. The 37-story condominium and hotel project, which is located at 308 W. Second St., will feature 198 residential condominiums, 252 hotel guest rooms, 60,000 square feet of retail and office space and a live performance venue. Amenities at the W Hotel and Residences include a signature restaurant with an outdoor terrace, an outdoor grill area, a spa and fitness center, two outdoor pools, a courtyard garden with private cabanas, meeting space and concierge services. The borrower, CJUF II Stratus Block 21 LLC, is an affiliate of Stratus Properties and Canyon-Johnson Urban Fund II LP.

May 8, 2008

Hospitality Southeast

CANDLEWOOD SUITES COLUMBIA/FT. JACKSON TO OPEN

by admin May 7, 2008

COLUMBIA, S.C. — Sarasota, Fla.-based American Hotel Development Partners and joint venture partner New York-based Glenmont Capital Management will open the 112-room Candlewood Suites Columbia/Ft. Jackson this month in Columbia. The extended-stay hotel is located near the Interstate 77 and Garners Ferry Road interchange. Amenities include a fitness center and suites featuring fully equipped kitchens and executive desks with two separate phone lines and high-speed internet access.

May 7, 2008

Hospitality Northeast

MICROTEL INN & SUITES OPENS IN BATH

by admin May 7, 2008

BATH, N.Y. — A 67-room Microtel Inn & Suites has opened in Bath at 370 W. Morris St. Located just off I-86 in the Finger Lakes region, the economy hotel is within close proximity to the region’s local wineries and is just 80 miles from the Rochester International Airport. The three-story hotel is owned and operated by Indus Mehta Properties.

May 7, 2008

Hospitality Texas

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

Hospitality Western

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

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