Keyword: Pebblebrook Hotel Trust
Pebblebrook Hotel Trust will convert the Paradise Point Resort & Spa to the Margaritaville Island Resort San Diego after a $35 million renovation.
Pebblebrook Hotel Trust plans on selling the 137-room Kimpton Rouge Hotel in Washington, D.C. in the third quarter of 2019.
Pebblebrook Hotel Trust has agreed to sell the 132-room Hotel Amarano Burbank, while two Washington, D.C., hotels will undergo renovations.
Paramount Hotel Group, Aqua-Aston Hospitality, Access Hotels & Resorts and Benchmark Resorts & Hotels all have picked up new properties.
The 174-room boutique hotel, managed by Sage Hospitality, is a member of Pebblebrook Hotel Trust’s Unofficial Z Collection.
A 130-percent spike in portfolio acquisitions helped to drive hotel deal volume to $34 billion last year, according to JLL.
2018 saw some major deals totaling $18.3 billion and approximately 51,100 hotel rooms with an average sale price per room of $357,000, according to LWHA.
The Americas Lodging Investment Summit honored the executives and companies responsible for the most influential hotel industry deals in 2018.
These are the first two sales from the Maryland-based real estate investment trust following its $5.2 billion merger with LaSalle Hotel Properties in November.
The loan will provide funding for the proposed merger, as well as financing to pay off outstanding debt owed by LaSalle, as well as other transaction closing costs.