Aparium Hotel Group is spearheading a nearly $48 million project to renovate the Des Moines property into a luxury boutique hotel.
The United States has the largest travel and tourism economy, contributing nearly $1.6 trillion to gross domestic product in 2018.
Uncertainty quickly is becoming the industry’s favorite word, but one expert believes the current strong state of the industry could persist.
Panelists at the first day of the International Hotel Investment Forum in Berlin discussed the latest trends in global money movement.
The company reported positive growth in terms of net income, RevPAR and pipeline growth during its fourth-quarter and 2018 earnings call.
The 10-year capital will be used, in part, to fund a product improvement plan that will renovate the property.
Interest rates, consumer confidence and secondary markets are on CBRE analysts’ minds this year.
The loans will be used to refinance the Hilton Garden Inn in Flowood, Miss.; the Hampton Inn in West Point, Miss.; and the Tru by Hilton in McDonough, Ga.
The 10-year, interest-only, nonrecourse loan was originated on behalf of Finvarb Group.
The company reportedly plans use the money to invest in development throughout Spain and around the Mediterranean.