RobertDouglas announced today that it arranged in excess of $50 million of joint venture equity and senior financing for the acquisition by Haberhill LLC of the 917-key Renaissance Grand St. Louis. The $33 million, five-year, floating rate financing was provided by Deutsche Bank, and will be used to acquire and substantially renovate the hotel.
RobertDouglas announced today that it advised Canyon-Johnson Urban Fund III Centurion ICON LLC, a joint venture between Canyon Capital Realty Advisors (Canyon Realty) and Earvin "Magic" Johnson, in the $22 million financing of the Hotel ICON in Houston, Texas. Canyon acquired the Hotel ICON, which is an exclusive member of Marriott's Autograph Collection, in early 2011.
M&R Hotel Management today announced the opening of the Holiday Inn New York – JFK Airport, a new, 201-room, full-service hotel at the intersection of Brookville and Rockaway boulevards in Jamaica, N.Y., just east of John F. Kennedy International Airport.
obertDouglas announced today that it advised Chicago-based Lodging Capital Partners, LLC and Lubert-Adler Management Co., a Philadelphia-based investment firm, on the $22,600,000 acquisition financing of the Embassy Suites Memphis. The financing was provided by a national life insurance company.
The advice of "Carpe Diem" has never rung more true in the world of hotel investors. It is time to seize the day on financing rates, as the wind down of the Federal Reserve's quantitative easing program (QE3) and rising Treasury rates are signalling an increase in interest rates for hotel owners. The spectre of rising interest rates is resulting in an increase in borrowing on hotel assets, which is expected to continue for the next 36 to 48 months.
Lodging Econometrics (LE), the lodging industry's leading global partner for real estate intelligence, introduces a new array of cutting-edge programs and analytical products for companies looking to accelerate growth. Renowned as a leading provider of lodging expertise, global real estate intelligence, and up-to-date real estate data trends and analytics, the privately-owned firm has also launched a new website that combines dynamic analytical tools, industry support services, and customized business development programs to help the industry's leading companies create strategic advantage by accelerating their growth and outpacing competitors.
A 15-floor, 307-room Value Hotel WorldwideSM will be the largest and first upscale hotel to be built in the newly created city of Sejong, South Korea. The new construction hotel is expected to open in May next year and is the first Value Hotel Worldwide in South Korea.
Investment banking services firm RobertDouglas is pleased to announce that it has added two senior investment bankers, Stephen O'Connor and Chris Ropko, to its new Los Angeles office in Century City. O'Connor and Ropko will play a key role in originating, underwriting and executing lodging transactions from coast to coast.
RobertDouglas announced today that it advised New Enchantment LLC and their managers, The Enchantment Group, in the recently-completed financing of the Enchantment Resort and Mii Amo Spa. The financing was completed with MassMutual Life through its real estate affiliate, Cornerstone Real Estate.
The Lexington Inn flag is now flying at the former Best Western in Hammond, LA, conveniently located just a short distance between New Orleans and Baton Rouge. Following the Lexington Inn standards, the 60-room hotel has an exercise room and business center, and offers guests a complimentary, full breakfast each morning.
Robert Stiles and Douglas Hercher, former partners at Sonnenblick Goldman and among the leaders of the lodging group at Cushman & Wakefield, have established investment banking services firm RobertDouglas, specializing in the sale, finance and equity capitalization of hotel, resort and gaming properties. Hercher and Stiles bring deep resumes to the new business, having arranged or advised on more than $50 billion in hotel capital market transactions and developments throughout North America and Asia during the past two decades.
Brown Nester Hospitality Services, Inc. is proud to announce their most recent transaction – the sale of the Comfort Inn Millennium located in Greenville, SC. Brown Nester represented both the buyer and the seller in the transaction of the property, which is conveniently located off of Interstate 85, just a few miles from the Greenville-Spartanburg International Airport and the Millennium Campus business park.
Brown Nester Hospitality Services – "The Most Trusted Name in Hotel Brokerage" – today announced that real estate development industry veteran Gary Rito will become president of Brown Nester Florida LLC, further expanding the company"s comprehensive collection of services.
No one would ever imagine, that London could not offer a sufficient number of hotel rooms or premium hotel properties. The UK capital still is the melting-pot of the British Empire and talking point in respect to its numerous hotel projects. According to TOPHOTELPROJECTS, the leading information service for international hotel construction and development projects, 20 new four and five star rated hotels with more than 4,200 rooms have opened their doors during the past year. Over the next three years further 37 new top hotels with more than 8,800 rooms will be inaugurated. Among them the 195-room Shangri-La in the new skyscraper "The Shard" (TOPHOTELPROJECTS Nr. 616), expected to open up in spring 2013.
Listing the most present hotel brands worldwide Best Western the unchallenged front runner: with more than 4,100 hotels and 308,000 rooms under the identically named umbrella brand the hotel chain is worldwide the number one - ahead of hotel brands such as Holiday Inn, Marriott, Comfort Inns & Comfort Suites, Hilton and Holiday Inn Express.
The upscale Four star, 100 large rooms, 12-story, 71,250-square-feet building is a unique property in a prime midtown location. The property was managed by Vincci Hotel Management prior to the acquisition.
At Accor, Europe's leading hotel chain, Ibis is the considered the „super brand" and with more than 900 a global success story. But also the international development of its premium brand Sofitel is going on by big steps. Currently there are 19 new luxury hotels with a total of 6.500 rooms under construction or planning, the majority in China and the United Arab Emirates. The largest hotel project is the 582-room Sofitel Dubai Sheikh Zayed Road (TOPHOTELPROJECTS Nr. 6205). The opening is scheduled for summer next year.
Fairmont is considered to be among the ten most famous hotel groups of the world, says the international hotel critic Heinz Horrmann. Fairmont's top brand Raffles Hotels International (FRHI) is present in Germany with the more than one hundred years old Four Seasons Grand Hotel in Hamburg as well as the recently entirely renovated Savoy Hotel London. Now the FRHI push their worldwide expansion. And another 26 luxury hotels are currently in the process of planning or under construction – the largest of them currently arises currently in Dubai: The Fairmont Kingdom of Sheba (TOPHOTELPROJECTS Nr. 5737) will have 500 hotel rooms, 50 Heritage Place Homes and 400 residences.
The La Quinta, located at 3040 King Avenue West in Billings, MT, is now flying the Lexington Inn & Suites flag. The Lexington Collection® of hotels, inns, and suites is part of Vantage Hospitality Group, Inc., the 10th largest hotel company in the world and also the parent company of Americas Best Value Inn®. With over 1,000 hotels throughout North America and China in just 11 years, Vantage is the fastest-growing hotel company in the history of the lodging industry.
With a resort-like ambience, the Wyndham Kingston Jamaica is an oasis in the heart of Kingston's financial and diplomatic district. An 18-story high rise with more than 16,000 square feet of event space rises amid 7.5 acres of manicured lawns, lush night-it gardens and cascading waterfalls. Inside are 303 rooms suitable for business travelers or vacationers, with amenities that include a 24-hour fitness center and six food and beverage outlets.