Keyword: Candlewood Suites
KJ Properties sold the portfolio to a private, Texas-based real estate and investment firm.
A third of the company’s more than 5,600 hotels and nearly 843,000 guestrooms already is adopting the change.
The 10-year capital will be used, in part, to fund a product improvement plan that will renovate the property.
The property, which opened on Fort Drum in upstate New York, was constructed using cross-laminated timber.
Plastic straws have already been removed from nearly 1,000 hotels in IHG's Europe, Middle East, Asia & Africa region.
The loans are for the refinancing of the Candlewood Suites Boise-Meridian in Boise, Idaho, and the Country Inn & Suites by Radisson in Buford, Ga.
Cross-laminated timber and insulating concrete form construction are making it easier to build hotels and less expensive to run them.
The new owner is planning a renovation of the 97-suite hotel, which was built in 2009, to bring it up to current Candlewood brand standards.
Encouraging mobile usage in hospitality can lead to more positive guest satisfaction scores, with a few caveats.
This 221-room, new-build hotel marks the 16th IHG hotel in the province of Quebec.