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SLS South Beach sold for $125M to investors from Guernsey   10 Jun, 2015

The 140-room SLS Hotel South Beach has been sold for $125 million, or $892,857 per room, to investors from the island of Guernsey. The hotel was sold by sbe Entertainment Group and CIM Group to GoldenPeaks Capital Real Estate, an international real estate industry management company.More>>

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Hersha Hospitality Trust acquires D.C.'s St. Gregory Hotel    9 Jun, 2015

Hersha Hospitality Trust has entered into a purchase agreement for the 155-room St. Gregory Hotel & Suites in Washington, D.C., for $57 million, or around $367,000 per key, showing the strength and pricing non-branded hotels can command.More>>

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Amid transformation, Starwood sticks to old formula   9 Jun, 2015

The asset-light approach is a strategy most hotel companies today are onboard with: selling owned real estate and concentrating on generating revenue through franchising and management fees. It's a tactic Starwood knows well and continues to thrive on as it looks to make good on completing $800...More>>

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ARC Hospitality in buying mode, acquires Summit portfolio   8 Jun, 2015

American Realty Capital Hospitality Trust has agreed to acquire a portfolio of 26 hotels for a purchase price of $351.4 million from REIT Summit Hotel Properties. The portfolio consists of 25 branded select-service and extended-stay hotels and one full-service hotel. It totals 2,793 rooms in 11...More>>

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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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