NOVI, MICH. — InterContinental Hotel Group is nearing completion of a $10.7 million Staybridge Suites located on the campus of St. John Health at Province Park in Novi. The hotel will feature 108 guest suites, and includes an indoor pool, a sports court, an outdoor courtyard with a barbecue pavilion, a meeting room, a fitness room, complimentary guest laundry and complimentary wireless Internet. To cater to the large number of Japanese-owned companies in the area, the hotel will also offer Japanese newspapers and include Japanese items on the complimentary breakfast buffet. The hotel is expected to be complete this month.
Hospitality
LAS VEGAS — InterContinential Hotels Group (IHG) is developing an Asian-themed Crowne Plaza hotel, which will be located in central Las Vegas. The 386-room hotel will feature guestrooms with the Crowne Plaza Sleep Advantage program, 16,000 square feet of meeting and banquet space, a casino, three restaurants, three lounges, a full-service spa, an outdoor swimming pool, a fitness center, a business center and retail space. The property is owned and managed by Andrew Lai, under a license agreement with a company in the IHG. Completion is scheduled for 2010.
STOCKBRIDGE, GA. — An undisclosed Ga.-based buyer has purchased two hotel properties in Stockbridge, the Sleep Inn and Magnolia Inn, from Atlanta-based Kasandas Properties for $6 million. Steve Kirby and Burton Brooks of the Mumford Company’s Atlanta office arranged the sale. The buyer intends to retain the Sleep Inn franchise and continue to operate the Magnolia Inn as an independent hotel.
NEW YORK CITY — The Lam Group has acquired 49-53 Ann St. in Manhattan, New York City, from Bennedetto and Nessim Tammam for $13.15 million. Jae Choi of GFI Realty Services represented both parties in the transaction. The buyer plans to build a hotel on the vacant property, which formerly held four commercial buildings.
SAN ANTONIO — Marcus & Millichap has completed the sale of Comfort Suites located at 11526 Interstate Hwy. 35 N. in San Antonio. Both the buyer and seller in the transaction were undisclosed. The 57-room hotel was opened in December 2007. Allan Miller marketed the property on behalf of the seller, and Michael Yu of Marcus & Millichap Houston office represented the buyer.
BROWN DEER, WIS. — A 74-suite Candlewood Suites is set to open in the Milwaukee suburb of Brown Deer in the second quarter of this year. The $6 million, 20,000-square-foot hotel will feature wireless Internet access, a fitness center, a business center and complimentary guest laundry. Individual rooms will feature a fully equipped kitchen, a large workspace, an overstuffed recliner, and a VCR or DVD player. The hotel will be the first Candlewood Suites in the Milwaukee area.
AUGUSTA, MAINE — Joe McCann of Optimum Hotel Brokerage has completed the sale of a Motel 6 in Augusta. The 67-room hotel, which is located along Interstate 95, was bought by a New Jersey owner and operator. The hotel will continue to be operated as a Motel 6. McCann represented the seller, Accor North America in the transaction. The sale price was undisclosed.
CHARLOTTE, N.C. — Ed James and George Mumford of The Mumford Company, headquartered in Newport News, Va., represented the David Drye Company in the sale of the MainStay Suites of Charlotte for an undisclosed price. The 77-unit extended stay property was purchased by Raleigh, N.C.-based The Generation Companies and will undergo cosmetic renovations. The hotel will remain affiliated with MainStay Suites.
HOUSTON — The Miami and Houston offices of Holliday Fenoglio Fowler (HFF), a commercial real estate services provider, has closed the sale of and provided financing for the Marriott Houston West Loop located at 1750 West Loop S. in Houston. HFF’s Wally Reidarranged an 80 percent leveraged adjustable-rate loan with First National Bank Southwest for the hotel’s buyer and borrower, RMC National Interests. The loan will go to renovations for the 13-story, 302-room hotel. Patrick Poggi, Dan Carlo, Kim Flores, Jeff Hollinden, Robert Williamson and Barbara Guffey marketed the property on behalf of the seller, The Blackstone Group L.P., in the transaction.
LOUISVILLE, KY — IHG (Intercontinental Hotels Group) will convert the Executive West Hotel near downtown Louisville into a Crowne Plaza. Expected to open late this year, the hotel will offer 588 guest rooms, 50,000 square feet of meeting and banquet space, a fitness center, indoor and outdoor pool, airport and business shuttles and multiple dining outlets. The property is owned by Al J. Schneider Company Hotel Division and is located at 830 Phillips Rd.