Investment
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HREC arranges sale of Atlanta's Hotel 400   9 Mar, 2015

The Buyer, Baraka Hospitality Group, LLC, whose principals are Thakor and Romi Patel, is reportedly planning a renovation project and brand affiliation. More>>

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Total U.S. hotel investment passed $30 billion in 2014   9 Mar, 2015

Of the 1,292 hotels that were transacted, 935 reported a selling price into the public domain. The average selling price per room for those hotels was $156,002, up 20.6 percent YOY. More>>

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Building and Land Technology buys Connecticut's Westport Inn for $14.5M   6 Mar, 2015

BLT, a Stamford-based developer, also owns Nyala Farms in Westport. The hotel, which recently underwent a multimillion dollar renovation, has meeting rooms, guestrooms, 6,000 square feet of event space and a spa. More>>

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AEG plans downtown Los Angeles hotel expansion for J.W. Marriott, Ritz-Carlton   6 Mar, 2015

L.A. Live/Staples owner AEG is planning a $500-million expansion of the J.W. Marriott/Ritz-Carlton hotel downtown that will add 755 rooms. Combined, the new project (together with the existing JW Marriott L.A. LIVE and The Ritz-Carlton Los Angeles) will have 1,756 rooms and over 200,000 square feet...More>>

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AJ Capital acquires former Richmond Doubletree; will reopen as Graduate Richmond   6 Mar, 2015

The property will close for a comprehensive renovation and is expected to open as the Graduate Richmond in early 2016. Graduate Hotels is a new hotel collection targeting university-anchored markets across the country. More>>

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Mohegan Sun expansion signals increased investment for East Coast casinos   6 Mar, 2015

The Connecticut casino is set to get a new 400-room hotel by late 2016, and may partner with its rival, Foxwoods, for a satellite property. Beyond Connecticut, Massachusetts has plans to develop three casinos, one of which is slated for Springfield. Rhode Island is investing in improvements in its...More>>

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NH tops market expectations with 76-percent bottom-line improvement   5 Mar, 2015

NH Hotel Group reported bottom-line improvement of 76 percent during year one following the implementation of its business plan. This set of earnings tops the market's expectations in a year marked by investments and the rollout of initiatives designed to transform the group, including the launch...More>>

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Lotte Group to invest $140 million in construction of St. Petersburg hotel   5 Mar, 2015

The Korean Lotte Group, the owner of the famous Lotte Hotels & Resorts hotel group, is set to open a new hotel in St. Petersburg in 2017. Shin Dong Bin, chairman of the board of the company, says the project will provide visitors and residents of St. Petersburg with a top-tier classic luxury hotel....More>>

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The Setai Miami Beach has new owners   5 Mar, 2015

The Setai Miami Beach has announced it has new owners-- Nakash Holdings and the von Furstenberg family. Nakash Holdings is a privately held investment company controlled by the founders of Jordache Enterprises, of designer jeans fame. Financier Alex von Furstenberg and family are partnering with...More>>

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PMZ Realty Capital arranges $10-million non-recourse loan for Hampton Inn & Suites Jacksonville South   5 Mar, 2015

PMZ Realty Capital, a national boutique real estate investment banking firm, has arranged a $10-million non-recourse loan for the Hampton Inn & Suites in Jacksonville, Fla. The loan has a low fixed interest rate for 10 years and the closing was completed within 30 days to pay off the existing loan.More>>




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