ON THE BLOCK

The 268-room Radisson Hotel Duluth Harborview in Duluth, Minn., was sold to Kaeding Management by Trinity Hotel Investors for $8.2 million. A 20-year franchise contract extension ensures the Radisson flag. The new owner plans a guestroom update.Pictured: The 268-room Radisson Hotel Duluth Harborview in Duluth, Minn., was sold to Kaeding Management by Trinity Hotel Investors for $8.2 million. A 20-year franchise contract extension ensures the Radisson flag. The new owner plans a guestroom update.

* FelCor sells: FelCor Lodging Trust has agreed to sell the 208-room Doubletree Suites Hotel Charlotte-SouthPark for $37 million to an undisclosed purchaser. The company is currently negotiating contracts or has agreed to sell four other hotels for aggregate proceeds of approximately $80 million to repay outstanding debt.

* Property and parking: SoTHERLY Hotels acquired the 326-room Georgian Terrace Hotel in Atlanta’s Midtown business district, along with an adjacent 698-space parking structure, for $61 million. The hotel will be managed by Chesapeake Hospitality.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


* Utah hotel: RLJ Lodging Trust sold the 150-room Hilton Garden Inn St. George in Utah for approximately $15.7 million. The disposition of these assets comes as part of RLJ Lodging’s capital recycling program. The company plans to redeploy the sale proceeds in opportunistic moves that are aimed at enhancing the company’s presence in higher-growth markets.

* Japan transaction: Ascendas Hospitality Trust agreed to buy the Osaka Namba Washington Hotel Plaza in Osaka, Japan, for $90 million. The hotel will continue to be leased to Washington Hotel K.K. until December 31, 2015, under a fixed-term building lease agreement, for a fixed rent of $6.4 million yen per year.

* Chinese investment: Chinese investor Wang Jianlin acquired the Edificio Espana in Madrid for $358.6 million. The hotel was acquired from Grupo Santander, and Wang’s Dalian Wanda real estate company is planning to convert the building into a luxury hotel and shopping center.

* Waikiki Ambassador: Chicago-based private equity group Walton Street Capital acquired the Ambassador Hotel Waikiki for $71.5 million. The seller of the 298-room hotel was Ambassador Hotel Inc., part of the group that owns the Waikiki Business Plaza.

* Designer purchase: Fashion designer Tommy Hilfiger purchased the Raleigh Hotel in Miami’s South Beach. A limited-liability company called The Raleigh Group, linked to New York-based Hilfiger Hospitality Group, paid $56.5 million for the 105-room, eight-story Art Deco hotel on Collins Avenue.

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