 | Newswire
Miami hotel transactions expected to hit $750 million in 2013 23 May, 2013
Jones Lang LaSalle expects investors to spend $750 million on hotels this year, which would be a 12 percent increase over last year's total. The first quarter's transaction activity outpaced 2012 by nearly five percent. JLL attributes the increase to several factors, including the metro area's...More>>
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 | Newswire
Great Wolf Resorts buying Holiday Inn in Mass., to rebrand 23 May, 2013
Great Wolf Resorts is acquiring the Holiday Inn in Futchburg, Mass., along with the Coco Key Water Resort and convention center, and intends to expand the hotel's water park and convert the exposition center into additional hotel rooms and family recreation and entertainment space, according to the...More>>
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 | Newswire
Investor buys troubled Crowne Plaza Hotel in Colorado Springs 23 May, 2013
A company headed by Texas investor John Bushman has purchased the financially troubled Crowne Plaza Hotel for $14 million, with plans to switch it to his MCM Hotels chain and begin a major renovation, denverpost.com reports. The 500-room hotel will become the Hotel Elegante Conference and Event...More>>
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 | Newswire
Temple Hotels acquires Alberta Holiday Inn Express for $15M 23 May, 2013
Temple Hotels, a real estate investment trust concentrating on Canadian hotel assets, has agreed to acquire the Holiday Inn Express Hotel & Suites in Sherwood Park, Alberta for $15.15 million. The four-storey 90-room hotel opened in 2004 and is located at the corner of Broadmoor Boulevard and...More>>
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 | Newswire
Chicago's Palmer House goes on sale, owner expects big payout 23 May, 2013
Chicago's second-largest hotel is being put up for sale, reports Crain's Chicago Business. And it's going to cost a tidy sum to acquire. Thor Equities, the owner of the historic 1,639-room Palmer House Hilton, is asking for as much as $500 million, $270 million more than it bought it for nearly...More>>
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 | Newswire
Holiday Inn Express Guadalajara purchased by Mexican REIT 22 May, 2013
Fibra Inn, a Mexican real estate investment trust, has completed the acquisition of the Holiday Inn Express Guadalajara UAG hotel for a sum of around $15 million. It was an all-cash transaction. The hotel is part of the purchase of five additional properties. The 100-room hotel is expected to add...More>>
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 | Newswire
Red Carnation Hotels acquires Ireland's Ashford Castle for €20 million 22 May, 2013
The castle hotel was sold on behalf of receiver Ernst & Young Ltd. through broker Savills Plc (SVS). In October, when the hotel was put up for sale, the asking price was €25 million, and Red Carnation acquired the property for €20 million. Irish developer Gerry Barrett paid €50 million for...More>>
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 | Newswire
While EU hurts, hotel transactions soar 22 May, 2013
According to Jones Lang LaSalle, hotel deals soared in the first quarter, with sales volume reaching $5 billion for the Europe, Middle East and Africa region, up 45 percent from last year, The Wall Street Journal reports. While volume is expected to slow in the second half of the year, the total...More>>
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 | Newswire
CBRE acquires San Jose Marriott for $83 million 21 May, 2013
The Mercury News reports that CBRE Global Investors has paid $83 million for the 506-room San Jose Marriott Hotel. The 28-story hotel is located on South Market Street and West San Carlos streets next to the city's convention center, now undergoing a major expansion and renovation. The property was...More>>
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 | Newswire
Ashford Hospitality acquires Key West's Pier House for $90M 8 May, 2013
Ashford Hospitality Trust has acquired the 142-room Pier House Resort and Caribbean Spa in Key West, Fla., for $90 million in cash, or $634,000 per key. The acquisition is expected to close within the next 15 days. Ashford intends to replace the property manager with Remington Lodging, which...More>>
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