MHI Hospitality Corporation announced that the Company has completed the acquisition of the 172-room former Radisson Hotel in Hampton, Virginia for approximately $7.75 million, or $45,000 per room. The Company has also entered into a 10-year franchise agreement with InterContinental Hotels Group (IHG) [(LON: IHG) (NYSE: IHG - News; ADRs)] through its franchising entity, Holiday [...]
The competitive hotel market of Seattle, Washington welcomes 360 Hotel Group, renamed from Northgate Hotels as part of a re-branding effort and value focus. The 360 Hotel Group portfolio includes three hotels and a restaurant in North Seattle, providing value to customers by delivering a unique, comfortable, and convenient experience. 360 Hotel group has launched [...]
The city’s receipt of only one proposal from a developer interested in building a new downtown hotel raises some concern, but it should not condemn the project. The single proposal makes it more critical for city officials to ensure it is sound and the developer’s performance record is reliable.
The hotel is a key piece of [...]
The average hotel market up-cycle lasts 6.7 years according to the results of a study conducted by Hotel Investment Strategies LLC, a lodging investment advisory firm based in New York.
The Principal of the firm, Mr. Ross Woods, said that the study of 50 full-service hotel markets over the past twenty years revealed that the up-cycle [...]
LaSalle Hotel Properties announced it will report financial results for the fourth quarter 2006 and its outlook for 2007 on Thursday, February 22, 2007 after the market closes. The company will conduct its quarterly conference call on Friday, February 23, 2007, at 10:00 AM ET.
To participate in the conference call, please follow the steps listed [...]
Investment firm W. P. Carey & Co. LLC announced that it will provide approximately $49 million in funding for the construction and development of a 255-room Hilton hotel in Bloomington, Minnesota. The funding will be made on behalf of W. P. Carey’s affiliated income generating real estate fund, Corporate Property Associates 16 - Global [...]
Hersha Hospitality Trust, owner of nationally franchised premium full service and limited service hotels, announced that it will announce fourth quarter and year end 2006 financial results on Wednesday, February 28, 2007 after the close of market trading. The Company will host a conference to discuss its financial results on Thursday, March 1, 2007 at [...]
Supertel Hospitality, Inc., a self-administered real estate investment trust, announced that its operating partnership has entered into a definitive agreement to purchase seven hotels from Musselman Hotels II, LLC. The hotels are located in Ashland, KY (Days Inn); Brooks, KY (Comfort Inn); Cave City, KY (Quality Inn); Glasgow, KY (Comfort Inn); Glasgow, KY (Days Inn); [...]
International budget hotel chain Microtel will soon start its biggest project in the country after clinching a deal with a local developer.
Benedicto-led Enrison Land Inc. (ELI) will soon begin construction of a 150-room mid-rise Microtel resort hotel on a 5,000-square meter property located between two major resort hotels in Mactan Island.
Grand Benedicto and ELI signed [...]
In the shadow of the busiest airport in the world, College Park, Ga., soon will have two new hotels, a five-story class-A office building and 40,000 square feet of retail in a two-phase, multi-million deal with Atlanta-based Grove Street Partners.
The more than $200 million development is part of a master plan the College Park City [...]
Ashford Hospitality Trust, Inc. :
Acquisition Highlights:
* Comprised of 24 full-service, upper-upscale hotels and 27 premium select-service hotels in 31 markets across 18 states, the District of Columbia and Canada
* Significantly diversifies Ashford’s asset portfolio in terms of geography, brand and management company mix
* [...]
Ashford Hospitality Trust Inc., a real estate investment trust focused on hotel properties and mortgages, said Friday it is purchasing a 51-hotel portfolio from CNL Hotels & Resorts Inc. for $2.4 billion in cash.
The deal is in connection with Morgan Stanley Real Estate’s acquisition of CNL for about $3.13 billion, or $20.50 per share in [...]
