TRANSACTIONS

* Golf grab: Donald Trump acquired Scotland's Turnberry golf resort for a reported $63 million. The resort was sold by Leisurecorp, a subsidiary of the Dubai government, and had been up for sale since the onset of the global financial crisis. Leisurecorp first bought the resort and its accompanying hotel from Starwood Hotels & Resorts Worldwide for $87.5 million in 2008.

* LaQuinta sale: Marcus & Millichap sold a four-property portfolio of La Quinta Inns for $11 million. Two of the hotels are located in St. Louis, Mo., one is in Tallahassee, Fla., and one is in Knoxville, Tenn. All but one were rebranded immediately at sale, and the fourth will be rebranded in two to three months.

* Reit buy: American Realty Capital Hospitality Trust entered into an agreement to acquire the Equity Inns lodging portfolio for an expected $1.925 billion from funds indirectly owned by Goldman Sachs. The portfolio consists of 126 hotels totaling 14,934 rooms across 35 U.S. states, and encompasses brands such as Hampton Inn, Residence Inn, Hyatt Place and Holiday Inn.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

* Pakistan stake: The government of Islamabad, Pakistan, is expecting to get a minimum of $700 million in net proceeds from the sale of Roosevelt Hotel New York and Hotel Scribe Paris, owned by Pakistan International Airlines. The money raised by selling both the assets will be used to clear PIA’s debt, which currently stands at approximately $2 billion.

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