Hospitality

Autograph-Collection-Hotel-Hall-Park-Frisco

HALL Group Underway on 224-Room Marriott Hotel at Flagship Office Park in Frisco

by Taylor Williams March 29, 2023

FRISCO, TEXAS — HALL Group is underway on construction of a 224-room hotel at HALL Park, the locally based firm’s flagship campus in Frisco that is currently in the midst of a $7 billion redevelopment. The hotel, which will be operated under Marriott’s Autograph Collection family of brands, will feature an outdoor pool, fitness center, restaurant and lounge, 4,000-square-foot ballroom and a patio overlooking Kaleidoscope Park. Construction is expected to be substantially complete by the end of the year.

March 29, 2023

Acquisitions Hospitality Northeast Vermont

Waterton Acquires 54-Room Hotel in Stowe, Vermont, Plans Repositioning

by Taylor Williams March 29, 2023

STOWE, VT. — Chicago-based investment firm Waterton has acquired Town & Country Stowe, a 54-room hotel located near Burlington in upstate Vermont. The site spans 10 acres and is adjacent to Cady Hill Forest. Waterton plans to update the guestrooms and outdoor common areas and add a mix of lofted barn suites and cabins. The seller and sales price were not disclosed. Waterton has tapped Springboard Hospitality to manage the property. f Dave McElroy and Scott Hutchinson of CBRE brokered the deal.

March 29, 2023

Development Hospitality Midwest Missouri Retail Top Stories

Construction to Begin This Summer on $350M Oasis at Lakeport Entertainment District in Osage Beach, Missouri

by Kristin Harlow March 29, 2023

OSAGE BEACH, MO. — SkyView Partners and Tegethoff Development, along with Fred Ross, owner of Big Thunder Marine, are set to begin construction this summer on Oasis at Lakeport in Osage Beach within Missouri’s Lake of the Ozarks. The $350 million family resort and entertainment district will span 25 acres. The development team most recently announced an agreement with Marriott International for the construction of a 400-room, full-service Marriott Hotels property as part of the project. The hotel, to be managed by Texas-based Aimbridge Hospitality, will feature a 26,000-square-foot conference center, full-service spa, outdoor pool, fitness center, pickleball courts and restaurants. The hotel will be located adjacent to a 50,000-square-foot, fully enclosed waterpark to be constructed by OpenAire. American Resort Management will operate the waterpark. Construction of both the hotel and waterpark is slated for completion in 2026. An amusement park and 1,000-space parking garage are scheduled to open in summer 2024. Amusement offerings will include roller coasters, thrill rides and family rides, as well as a 200-foot-tall observation wheel. Oasis at Lakeport is being developed along the Lakeport property acquired by Big Thunder Marine in 2021. Big Thunder Marine is a boat dealer in Lake of the Ozarks. The …

March 29, 2023

Acquisitions California Hospitality Western

Highgate, Flynn Properties Purchase the Huntington Hotel in San Francisco

by Jeff Shaw March 24, 2023

SAN FRANCISCO — Highgate and Flynn Properties have acquired the Huntington Hotel in San Francisco’s Nob Hill neighborhood. The hotel was originally built in 1924. It was the first steel and brick high rise west of the Mississippi. The partners intend to renovate the hotel’s public areas, guest rooms, Big 4 Restaurant and spa. The hotel is scheduled to reopen in 2025.

March 24, 2023

Development Florida Hospitality Southeast

Bask to Develop Eight Extended Stay America Premier Suites Hotels in Florida

by John Nelson March 22, 2023

CHICAGO — Bask Development, a Chicago-based real estate development firm, has entered into an agreement with Charlotte-based hospitality chain Extended Stay America to develop eight hotels in Florida under the Extended Stay America Premier Suites brand. The locations of the hotels weren’t disclosed but Bask says the properties will be located in “major markets.” Bask operates throughout the United States, with 30 hotels under management and an additional six under construction. Extended Stay America Premier Suites comprises both new construction as well as renovated properties with fully equipped kitchens, apartment-style layouts for working and dining, free in-room Wi-Fi, cable TV, onsite guest laundry and an enhanced breakfast offering, along with upgraded design elements including larger TVs, increased storage space and a signature bedding package. Extended Stay America currently has 36 Extended Stay America Premier Suites open and operating throughout the United States.

March 22, 2023

Acquisitions Hospitality Midwest Nebraska

Leisure Real Estate Advisors Arranges Sale of Holiday Inn Express Hotel in Fremont, Nebraska

by Kristin Harlow March 22, 2023

FREMONT, NEB. — Leisure Real Estate Advisors LLC has arranged the sale of the Holiday Inn Express hotel located at 2415 N. Lincoln Ave. in Fremont. The sales price was undisclosed, but the list price was $9.6 million. Built in 2003, the 94-room hotel is situated along the Platte River, about a 30-minute drive to the northwest from downtown Omaha. Brent Jaynes of Leisure Real Estate Advisors represented the seller, Fremont Hotels Inc. Oracle Holdings LLC, an investment group with another hotel holding in the Omaha area, was the buyer. Oracle will continue operating the hotel as a Holiday Inn Express under a new 15-year license agreement with IHG. Noble Hospitality will manage the property on behalf of Oracle.

March 22, 2023

Development Florida Hospitality Loans Seniors Housing Southeast

Capital Funding Group Provides $27.2M Loan for Seniors Housing Conversion Project in South Florida

by John Nelson March 22, 2023

SUNRISE, FLA. — Capital Funding Group has provided a $27.2 million construction loan for the conversion of a partially completed hotel in South Florida to a 191-unit assisted living community. The property is located at 3003 N. University Drive in Sunrise, about 10 miles west of Fort Lauderdale. The borrower, YMP Real Estate Management, will use $7.4 million of the financing to complete the shell construction. YMP will also manage the seniors housing community when it opens. The construction timeline was not disclosed.

March 22, 2023

Development Hospitality Texas

Excel Commercial Real Estate Opens 226-Site RV Park in Kingwood, Texas

by Taylor Williams March 20, 2023

KINGWOOD, TEXAS — Excel Commercial Real Estate has opened Laurel Springs RV Resort, a 226-site development in Kingwood, about 30 miles north of Houston. The property offers both long-term and overnight accommodations. Indoor amenities include a fitness center, arcade, business center, lounge, hospitality kitchen and onsite laundry facilities. The outdoor amenity package comprises a pool, outdoor patio and grilling areas, playground, dog park, putting green and walking trails. Jetstream Communities, an affiliate of CityStreet Residential Partners, will manage the property.

March 20, 2023

Courtyard-by-Marriott-Austin-University-Area

Hospitality Loans Texas

PMZ Realty Capital Arranges $20.7M Acquisition Loan for Downtown Austin Hotel

by Taylor Williams March 17, 2023

AUSTIN, TEXAS — PMZ Realty Capital has arranged a $20.7 million acquisition loan for Courtyard by Marriott Austin-University Area, a nine-story, 198-room hotel located in the state capital’s downtown district. The nonrecourse loan was structured with a floating interest rate. The accommodations consist of 186 guestrooms and 12 suites, and guests have access to a pool, fitness center, business center and 1,342 square feet of meeting and event space. The name of the direct lender and the borrower, a Dallas-based investment firm, were not disclosed.

March 17, 2023

Acquisitions Hospitality Texas

Excel Commercial Real Estate Acquires 114-Site RV Park in Southeast Houston

by Taylor Williams March 17, 2023

HOUSTON — Excel Commercial Real Estate has acquired Eric & Jay’s RV Resort, a 114-site property in southeast Houston. The park sits on a 10-acre site with a stocked lake and offers both back-in and luxury pull-through slips. Amenities include a pool, fitness center, game room, outdoor grilling and dining stations and onsite laundry facilities. The seller and sales price were not disclosed. Jetstream Communities, an affiliate of CityStreet Residential Partners, will manage the property.

March 17, 2023

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