Investment
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Sam Zell to sell Chicago Waldorf Astoria to former Strategic head   12 Jun, 2015

A venture led by Laurence Geller is set to acquire the Waldorf Astoria in Chicago from Sam Zell for $113 million, or $600,000 per key for the 188-room hotel. The purchase price would reportedly be the highest per-room price ever paid for a Chicago hotel, since Zell originally acquired the property,...More>>

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East Coast Realty Ventures sells Miami's Clinton Hotel for $28.5 million   12 Jun, 2015

The Commercial division for national real estate firm Douglas Elliman, lead in the South Florida market by David Restainer as Douglas Elliman Commercial Florida, was named exclusive broker to market the historic Art Deco property in 2014.More>>

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WHI sells Holiday Inn in Joplin, MO   12 Jun, 2015

The property was sold to Conor Acquisitions Group at an undisclosed price and will be converted to a DoubleTree Hotel after completion of the planned $6 million renovation during the next twelve months. More>>

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Rotana aims to open 11 hotels worldwide in six months   12 Jun, 2015

The company is expected to expand its portfolio across six different markets including the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Africa, and entering Turkey for the first time.More>>

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Nazarian's SBE spinning off real estate development arm   11 Jun, 2015

Sam Nazarian has spun off the real estate development arm of his company SBE, allowing the company to at once manage hotels and build projects for outside investors. The new subsidiary, Dakota Development, will reportedly still develop projects for SBE, while also doing planning, development and...More>>

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Melia set to expand into Myanmar with Yangon hotel   11 Jun, 2015

Meliá Hotels International has entered Myanmar with the signing of Meliá Yangon, furthering the group’s presence in Southeast Asia. The new-build 400-room hotel will be situated in downtown Yangon next to Inya Lake, with close access to Yangon International Airport. The project will be...More>>

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Europe's KKR, Algonquin make two buys in Antwerp   11 Jun, 2015

Global investment firm KKR has announced the purchase of the Radisson Blu Astrid Hotel and the Park Inn Hotel in Antwerp, Belgium, in a joint venture with Algonquin, an independent hotel group with offices throughout Europe. Both the 247-room Radisson Blu and the 59-room Park Inn are situated on...More>>

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Investor interest in Thailand remains healthy   10 Jun, 2015

A number of openings and transactions bolster the idea that investment in Thailand's hotel industry is a good bet right now. Lower capital values than in more developed markets such as Singapore or Hong Kong, relatively higher yield returns and the long-term prospects of Thailand's tourism industry...More>>

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Manhattan's far west side gets a jolt from Tishman Speyer   10 Jun, 2015

One of the largest property owners of Manhattan real estate is set to expand. Tishman Speyer, owner of Rockefeller Center and the Chrysler Building is taking its game to the far west side of the city. The company is reportedly buying a large tract of land across the street from the Javits Center...More>>

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Owners of Chicago's Palmer House seeking half-a-billion dollars   10 Jun, 2015

More than half-a-billion dollars is what it will take to own Chicago's Palmer House Hilton. At least that is what the owner of the city's second-largest hotel, Thor Equities, is seeking—specifically $575 million. The hotel has 1,639 rooms and is being marketed Eastdil Secured.More>>




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