Hewing Hotel, which opened in 2016, was co-developed by Chicago-based Aparium Hotel Group, which also owns and manages the hotel.
The properties were acquired, in part, through the use of Ashford's Enhanced Return Funding Program.
Upon his departure on Nov. 2, Grismer will be succeeded by Joan Bottarini, currently SVP of finance for the Americas at Hyatt.
McNeill has big plans for expansion into secondary and tertiary markets within the U.S. thanks to a $150-million deal with Almanac Realty Investors.
As Best Western Hotels & Resorts’ members gather for their annual conference, company executives have put a “pair’ on their plates with hopes they’ll bite.
Following its third interest-rate hike last week, the Fed is unlikely to slow down gains. What does that mean for commercial real estate?
Hotel development is continuing at a comfortable pace this year, but the upscale segment continues to attract the attention of brands, developers and travelers.
As a borrower, your goal should be to understand how your lender thinks.
The investment will allow McNeill to double the size of its portfolio through the acquisition, development and management of select-service hotels.
Upon completion, the existing 32-room CopperWynd Resort will reopen as the 177-room Autograph Scottsdale Resort.