Paris buy: Hong-Kong based Kai Yuan Holdings purchased the Paris Marriott Hotel Champs-Elysees for $438 million, or around $2.3 million per key. JLL’s Hotels & Hospitality Group acted as the advisor of the transaction for the seller. The 192-room hotel is known as the only hotel located on the Avenue des Champs-Elysées.
Ireland properties: The Dublin-based Dalata Hotel Group bought the Clayton Hotel in Galway and Whytes Hotel in Co Wexford, Ireland, for $40.41 million in an all-cash deal. Dalata managed the two hotels since 2009. They were put on the market in August as part of Ulster Bank’s Project Nadal.
Kingsway Hall: Shiva Hotels has purchased The Kingsway Hall Hotel, in London’s Covent Garden, for $154 million. Another $24 million will go toward an extensive renovation. Shiva has over 2,000 rooms in London either operational or under development.
Golf resort: Carey Watermark Investors acquired the Sawgrass Marriott Golf Resort & Spa, in Ponte Vedra Beach, Fla., from an affiliate of Goldman Sachs and Petra Capital Management. The resort underwent an $20.3-million renovation in early 2014, which included the lobby, all meeting and event spaces, food and beverage outlets, all villa guestrooms, tower suites and enhancements to the Cabana Beach Club.
Miami acquisition: The One Bal Harbour hotel in Miami has been sold to Lionstone Development. The common area property plus 51 units of the hotel were sold for $13.4 million to the condominium association at a bankruptcy auction. Ritz-Carlton will reportedly manage the hotel. The condo hotel has been tied up by litigation since developer WCI Communities filed Chapter 11 in 2008.
Rome hotel: Starwood Hotels & Resorts sold the St. Regis, Rome to subsidiaries of Constellation Hotels Holding Limited for approximately $150.7 million. Starwood will continue to operate the hotel under the St. Regis brand flag as part of a new long-term management agreement. The St. Regis, Rome was originally opened as the Grand Hotel in 1896. Following a $35-million refurbishment completed in 2000, The St. Regis, Rome became the first St. Regis hotel to open in Europe.