Midas Hospitality plans to raise $12 million for the new project through an Opportunity Zone fund.
The Toronto Stock Exchange-listed REIT will spend $318 million to take the outstanding equity interests of the Maryland-based Condor.
Ritesh Agarwal, the company's 25-year-old founder and CEO, has signed a $2 billion primary and secondary management investment round.
The hotel investment properties chief sees emerging trends on the horizon as investment patterns shift.
The new appointments come as Access Point Financial plans to significantly expand its portfolio of financial programs.
The 168-room SpringHill Suites by Marriott will be located 5 miles outside of Boston and include an oceanfront restaurant and meeting space.
The deal will give Fosun control of the U.K. company’s tour operations and a minority stake in its airline, but should not affect its hotels.
To support these expansion goals, the company has brought on two new executives and tasked them with raising and investing $250 million in equity.
SpringHill Suites, TownePlace Suites, Home2 Suites and Embassy Suites have opened hotels across the United States during the past few weeks.
Blackstone Group has acquired three Marriott-branded hotels near Fort Lauderdale, Fla., from an affiliate of RLJ Lodging Trust for $43.2 million.