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New York Palace buy indicative of capital inflows outside China   4 Jun, 2015

Chinese money isn't the only capital making waves in the U.S. hotel market. South Korea has joined the party—and then some. outh Korea's Lotte Group is positioned to acquire the New York Palace Hotel, in midtown Manhattan's, for $805 million, or around $885,000 per key. Here are the details.More>>

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After sale, Jacksonville Wyndham now a Lexington by Vantage   4 Jun, 2015

The Wyndham Jacksonville Riverwalk Hotel has been acquired by Vantage Hospitality Group, which reportedly paid $9 million for the 323-room hotel earlier this week and changed its name to Lexington Hotel & Conference Center — Jacksonville Riverwalk.More>>

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ARC Hospitality to acquire $92.5M portfolio from Wheelock    4 Jun, 2015

American Realty Capital Hospitality Trust has entered into an agreement to acquire a portfolio of five hotels totaling 565 rooms for a purchase price of $92.5 million from affiliates of Wheelock Real Estate Fund, sponsored by private equity firm Wheelock Street Capital. The hotels are in the...More>>

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Rocco Forte expands into Asia; will open Shanghai hotel in 2018   3 Jun, 2015

Rocco Forte Hotels will partner with Longhua International to be part of the Longhua International Aviation Service Centre, a new urban complex in Shanghai’s Xuhui Riverside area known as West Bund. Rocco Forte Hotels will be the exclusive luxury international hotel provider to the project.More>>

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Outrigger buys, rebrands Thailand beach resort   3 Jun, 2015

The AKARYN Koh Samui Resort and Spa has been rebranded as the Outrigger Koh Samui Beach Resort. The deal closed on May 29 for an undisclosed sum. The resort remains fully open for business as an Outrigger Resort. Outrigger plans to make enhancements to the property's public areas, arrival...More>>

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South Korean group buys New York's Palace Hotel   2 Jun, 2015

The owner of the storied New York Palace Hotel, Northwood Investors, plans to sell the property to South Korean conglomerate the Lotte Group for $850 million. Northwood bought the 55-story hotel, which was originally built in 1982 by Leona Helmsley, for just $400 million from the Sultan of Brunei...More>>

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Wyndham, Corinthian sign Wingate development deal   1 Jun, 2015

Wyndham Hotel Group has entered into an agreement with Corinthian Development Company to develop more than 15 new-construction Wingate by Wyndham properties in key markets throughout the U.S. and Canada over the next two years.More>>

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Assila Investments signs MOU for debut Saudi Arabia Shangri-La   29 May, 2015

Slated to open in early 2018, the Shangri-La in Jeddah will be the brand's first in Saudi Arabia.More>>

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Venture bets big on full-service with DoubleTree in Orlando buy   28 May, 2015

AWH Partners, a real estate investment, development and management firm, in partnership with Building and Land Technology, a real estate private equity, development and property management firm, made the off-market acquisition of the 1,004-room DoubleTree by Hilton Orlando at Sea World. More>>

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U.S. Q1 hotel transactions reach 320   27 May, 2015

There were 320 reported hotel sales in the first quarter of 2015, according to Lodging Econometrics. This represents an 85-percent increase compared to the 173 hotel transactions with a recorded selling price that occurred in the first quarter of 2014. More>>




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