MCDONOUGH, GA. — Extended Stay America has opened an Extended Stay Suites hotel in McDonough, roughly 30 miles southeast of Atlanta. Developed by TGC Group, the property totals 84 rooms. Amenities include complimentary WiFi, free breakfast, cable, a fitness room, onsite guest laundry and a lobby. TGC Hospitality Management is the hotel’s property manager.
HOUSTON — A joint venture between Dallas-based NewcrestImage and Phoenix-based Hospitality Capital Partners (HCP) has acquired the 153-room Courtyard by Marriott Houston Hobby Airport. The joint venture acquired the property, which is located just two miles from the airport, as part of a $137.3 million portfolio deal that comprised 16 Marriott-branded hotels totaling 2,155 rooms across nine states. Al Calhoun and Mark Fair of CBRE represented the seller, Massachusetts-based REIT Service Properties Trust, in the portfolio sale.
ATLANTA — Convention, sports and entertainment campus operator Georgia World Congress Center Authority (GWCCA) and Swedish development and construction company Skanska have topped off Signia by Hilton Atlanta, a 976-room, 1.3 million-square-foot hotel project in the city’s downtown area. Scheduled to open in January 2024, the 453-foot hotel will be owned by GWCCA and managed by Hilton Management Services. Upon completion, the property will connect to the Georgia World Congress Center and include three restaurants, three bars, a spa, beauty bar and a fitness center. Signia by Hilton Atlanta will also feature more than 100,000 square feet of meeting space, including a ballroom, outdoor event deck, outdoor event lawn and three boardrooms. Boston-based Drew Co. is the developer of the project, with Skanska and SG Contracting serving as general contractor. Gensler is providing architectural services. In addition to its proximity to Georgia World Congress Center, the hotel will be situated adjacent to CIM Group’s $5 billion Centennial Yards project, State Farm Arena and Mercedes-Benz Stadium.
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.
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.
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 …
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.
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.
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.
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.
