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Video: Marriott's Arne Sorenson on Protea Hotels acquisition—and more   24 Jan, 2014 Video

Arne Sorenson, CEO and president of Marriott International, discusses his hotel's plans for global expansion and creating jobs in the industry. Marriott International and South Africa's Protea Hospitality Holdings for $186 million. More>>

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Chatham/Cerberus JV looking to unload Inkeepers portfolio   24 Jan, 2014

Two-plus years after acquiring the Innkeepers portfolio, its owners, the Chatham Lodging Trust and Cerberus Capital Management joint venture, is now looking to sell it. Eastdil Secured is the advisor for the offering, which totals 51 hotels and 6,487 rooms. More>>

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Ashford Hospitality Prime buys the Sofitel Chicago Water Tower for $153 million   23 Jan, 2014

Ashford Hospitality Prime has entered into an agreement to pay $153 million, or about $369,000 a room, for the 415-room hotel. The sale is expected to close in the first quarter. To purchase the property, Ashford priced an underwritten public offering of 8 million shares of common stock at $16.50...More>>

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Chesapeake adds 3 to management portfolio   23 Jan, 2014

Chesapeake Hospitality has added the InnPlace Hotel Bensalem in Bensalem, Pa., the Comfort Suites BWI inLinthicum Heights, Md., and the Holiday Inn Express Mt. Holly in Westampton, N.J., to its portfolio. The company now manages 27 properties.More>>

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D.C.'s L’Enfant Plaza Hotel sold, to undergo major renovation    23 Jan, 2014

L’Enfant Plaza Hotel in Washington, D.C. has been sold to L’Enfant DC Hotel LLC and is now closed in anticipation of a major renovation. The 372-room hotel was purchased for an undisclosed amount and acquired by the company on December 3rd.More>>

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Marriott buys Protea Hospitality for $186M   22 Jan, 2014

We learned in November that Marriott International was buying Protea Hospitality, Africa's largest hotel chain. But now we know how much they are buying it for and what the deal includes. More>>

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Miami heat: Starwood sells St. Regis Bal Harbour for $213M   22 Jan, 2014

Starwood Hotels and Resorts Worldwide has sold the St. Regis Bal Harbour Resort in Miami to Al Rayyan Tourism Investment Company, a unit of Qatar’s Al Faisal Holding Co., for $213 million. Starwood will continue to manage the 207-room property.More>>

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Guanajuato's Hotel México Plaza Celaya to convert to Wyndham flag    20 Jan, 2014

Mexican real estate investment trust Fibra Inn has acquired the 150-room Hotel México Plaza Celaya, in the state of Guanajuato, and will convert it to the Wyndham Garden brand. The acquisition price was Ps. 139 million (around $11 million), excluding Ps. 8.1 million in expenses for brand name...More>>

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Two deals continue New Orleans' strong transaction activity   16 Jan, 2014

The latest properties to change hands are the Astor Crowne Plaza Hotel and the Royal St. Charles Hotel. The Astor Crowne Plaza was sold to Starwood Capital Group. The 697-room property sold for $77 million. Lowe Enterprises Investors announced it acquired the Royal St. Charles Hotel on behalf of an...More>>

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Aqua Wave Waikiki being acquired by Rockbridge Capital   14 Jan, 2014

Ohio-based Rockbridge Capital is reportedly in contract to acquire the Aqua Wave Waikiki hotel from the current owner, New York-based Ramsfield Hospitality Finance’s CR Wave LLC. The acquisition is expected to close soon. More>>




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