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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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Westin Sydney sold for $445.3 million   26 May, 2015

A joint venture between Singaporean developer Far East Land and the Hong Kong-listed Sino Land Co. purchased the 416-room property, which includes a significant amount of retail space. Seller GIC purchased the hotel for $160 million in 2002.More>>

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Ulster Bank to sell Irish hotels portfolio   26 May, 2015

Ulster Bank has agreed to the sale of its Project Coney portfolio to Sankaty Advisers, a U.S.-based affiliate of investment group Bain Capital. The portfolio comprises loans relating to 36 hotels and other commercial assets. It is not clear how much Sankaty paid, reports The Irish Times, but the...More>>

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Vancouver group acquires Fairmont Vancouver for $180M   26 May, 2015

Vancouver’s Fairmont Hotel has been acquired by West Vancouver-based Larco Enterprises for $180 million. The transaction of the 1939-built hotel pushes Larco’s hotel portfolio to 13 hotels, including eight in Ontario, four in Metro Vancouver and one in Las Vegas.More>>

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Starboard buys five ibis hotels from Accor   26 May, 2015

Hotel developer and operator Starboard Hotels has purchased five ibis hotels in the UK from HotelInvest parent company Accor, as part of a roughly $35-million portfolio sale of seven properties. The five hotels, in Gatwick, Plymouth, Birmingham Bordesley Circus, Sheffield and Leicester, total 469...More>>

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​Banyan Investment Group, Investra Investments purchase Albany Hampton   22 May, 2015

The property will undergo a multi-million dollar renovation during the next few months that are reportedly expected to meet or exceed the architectural and design standards specified by Hilton Worldwide. More>>




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