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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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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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Irish property developer may block Abu Dhabi bid for London Hotels   2 Mar, 2015

A €2-billion offer by The Abu Dhabi Investment Authority (which is chaired by the emirate's ruler, Sheikh Khalifa bin Zayed Al Nahyan) for a group of London hotels cannot go ahead without the permission of Irish property developer Paddy McKillen.More>>

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DiamondRock picks up Shorebreak in Calif., for $58.5M   26 Feb, 2015

DiamondRock Hospitality Company has recently acquired the Shorebreak Hotel in Huntington Beach, Calif., for a purchase price of $58.5 million. The purchase price represents a 12.8 multiple on 2015 forecasted Hotel earnings before interest, taxes, depreciation and amortization (EBITDA).More>>

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Chatham Lodging Trust completes acquisition of San Diego Residence Inn   26 Feb, 2015

REIT Chatham Lodging Trust has completed the previously announced acquisition of the 240-room Residence Inn San Diego Downtown-Gaslamp Quarter for $90 million, or approximately $375,000 per room. The hotel opened in 2009 and is within walking distance to the Petco Park and the Westfield Horton...More>>

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As rules loosen, Asian investment in European hotels surges   26 Feb, 2015

What became apparent in the latter part of 2014 and the beginning of this year in the U.S. is now spreading to Europe. Specifically, the surge of Asian investment in European hotels, which CBRE says will reach some US$22.7 billion in 2015, fuelled by the easing of domestic controls governing...More>>




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