The complex will include office space, housing and leisure facilities as well as a 92-room Premier Inn.

Slated to open in 2023, the Jabal Omar Hyatt Centric Makkah Hotel and Residences will have 196 guestrooms and suites, as well as 200 residences.

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 Maxx by Steigenberger Vienna, Steigenberger Hotel Herrenhof and the IntercityHotel Wien will be joined by Jaz in the City Vienna in early summer 2020. 

Due to open in Q1 2021 as a conversion of the Grand Hotel Ritz, the Radisson Blu GHR Rome will have 297 rooms.

ALG is looking to grow its European portfolio to 35 hotels and 10,000 rooms across the continent by 2021.

Portfolio transactions made up 56 percent of of the region's deals at £630 million, while the remaining 44 percent were for individual deals.

The Americas Lodging Investment Summit honored the executives and companies responsible for the most influential hotel industry deals in 2018.