Ohio Wyndham rebrands as Magnuson Hotel Sharonville
Magnuson Hotels, the world's largest independent hotel group, announced today the complete rebranding of the Magnuson Hotel Sharonville.
Supplier News
AM:PM launches new online database of hotel closures
AM:PM Hotels, a leading provider of market intelligence on the hotel sector in the UK & Ireland, has launched a new online database of hotel closures. The AM:PM Hotel Database now incorporates details of more than 22,500 hotels with over 1 million rooms covering the past, present and future of hotel supply in the UK & Ireland. This includes over 6,000 hotel closures, the majority of which were independent and 2/3-star on closing.
CBRE Hotels Acquires PKF Consulting
"The acquisition of PKF Consulting USA, LLC, a leading advisory, consulting and research firm specializing in the lodging industry, significantly strengthens CBRE's objective of becoming the top global intermediary in hospitality services.
RobertDouglas Advises Haberhill LLC on the Joint Venture Equity and Senior Financing for the Acquisition of the Renaissance Grand in St. Louis, Missouri
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 Advises Canyon on the $22 Million Financing of the Hotel ICON in Houston, Texas
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.
Newly Constructed, 201-Room Holiday Inn Hotel Opens at JFK Airport
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.
RobertDouglas Advises Lodging Capital Partners, LLC & Lupert Adler Management Co. with the Acquisition Financing of the Embassy Suites Memphis
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.
Jones Lang LaSalle Expands Hotel Investment Banking Platform in Response to Increased Hotel Financing Activity
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 Announces New Strategic Consulting Programs
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.
Value Hotel Worldwide to be First Upscale Hotel in the Newly Built South Korean City of Sejong
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.
RobertDouglas Adds Two Senior Investment Bankers to Los Angeles Office
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 Advises in Financing of Sedona’s Renowned Enchantment Resort and Mii Amo Spa
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.
Former Best Western is now a Lexington Inn
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.
RobertDouglas: Newly formed hospitality focused investment banking services platform
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 Represents Buyer and Seller in Comfort Inn Millennium Sale
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 Expands Resources Coast to Coast with Real Estate Development Expert Gary Rito
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.
London’s hotel market is booming
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.
Best Western: Strongest Hotel Brand In The World Expands Further
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.
Domain Properties Sells The Avalon Hotel NYC
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.
19 new luxury hotels by Accor’s premium brand Sofitel
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.