Officials of She Has a Deal (SHaD), a real estate investment platform that creates new pathways to hotel ownership and development for women, today announced that 2022 SHaDPitch Today’s Woman competitor, Amina Gilyard James, acquired the 70-room Quality Inn in the Raleigh neighborhood of Memphis, Tenn.
The Hunter Hotel Investment Conference is pleased to present Fred Cerrone, Founder and Chairman of Hotel Equities, with the 2023 Hunter Conference Award for Excellence and Inspiration. Each year, the award recognizes a hotelier who exemplifies exceptional leadership, citizenship, and innovation. From his start as a desk clerk at the Sheraton Boston hotel more than five decades ago to the founding of Hotel Equities, Cerrone has been a leader that all in the hospitality industry can admire.
Pineapple Hospitality, a Pacific Northwest based real estate holdings company most notably recognized for its ownership and management of the Staypineapple brand of hotels, is announcing the launch of Staypineapple Hotels Inc. as of January 17, 2023. Staypineapple Hotels Inc. will take over the management of all 10 Staypineapple hotels across the United States, as well as open the doors for third-party licensing and property management.
Sandpiper Lodging Trust (SLT) announced today that it completed the acquisition of five operating hotels from affiliates Sandpiper Hospitality III, LLC and Sandpiper Hospitality IV, LLC that operate under the WoodSpring Suites brand. These five properties are located in White Marsh, MD, Greenbelt, MD, Virginia Beach, VA and two in Baton Rouge, LA.
CBRE has arranged the sale of a 65-property, 7,865-key hotel portfolio located across 27 states. Massachusetts-based REIT, Service Properties Trust, sold the portfolio to 21 separate buyers for a total consideration of approximately $514 million.
Heading into a new year, the U.S. commercial real estate industry finds itself in choppy waters amid fears of a recession, rising inflation, and interest rate hikes as market participants await a course correction. Challenges during 2022 including continued supply chain constraints, increasing labor costs and struggles in attracting talent are anticipated to endure through 2023. Combined with international and domestic geopolitical issues and market volatility, many believe during the near term, the U.S will experience a mild to moderate economic recession.
Mission Hill Hospitality, a leading select service and extended stay hotel investor, announced it has acquired the Holiday Inn Steamboat, a 117-key hotel in Steamboat Springs, Colorado. Terms of the deal are undisclosed.
Luxury hotel demand staged a respectable resurgence last year as the dreadful impact of the pandemic continued to fade. Trailing twelve-month RevPAR for luxury hotels in NYC, as of November 2022, has already surpassed its pre-pandemic benchmark from December 2018. This was a welcome improvement for prominent Midtown hotels that had reopened after many months of closure, including the Mandarin Oriental, Ritz-Carlton, The Plaza, St. Regis, The Peninsula, and the Lotte New York Palace.
Global hospitality and entertainment company Delaware North today announced its continued expansion in the parks and lodging sector through the acquisition of the Best Western Premier Grand Canyon Squire Inn.
Consistently on the cutting edge of the lodging industry and now recognizing the growing need for affordable living options throughout the country and beyond, this leading Chicago-based hotel investment and management company announces brand new multifamily venture.
LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, has unveiled plans for Fernley Promenade, a 13-acre mixed-used development project comprising of industrial, retail, and hotel, in Fernley, NV, one of the fastest-growing cities in The Silver State.
Officials of Everwood Hospitality Partners (EHP), a leading hotel owner/operator with a growing portfolio of lifestyle, full- and select-service hotels nationwide, today announced the company has acquired the 184-room LaQuinta I Drive/Convention Center hotel in Orlando, Fla. from Cavalier Florida, LP.
The St. Joe Company (NYSE: JOE) (“St. Joe”) announces that it recently closed on three strategic real estate transactions and provides an update on projects that are scheduled to open in 2023.
The Plasencia Group, a boutique hospitality real estate advisory firm, received the Tampa Bay Business Journal’s Top Hospitality Project award at its annual Best Real Estate Deals event on December 15 at Armature Works in Tampa.
Procaccianti Companies, one of the nation's premier real estate investment and services firms, today announced the hiring of Brendan McCormick, to lead Procaccianti’s private credit platform, Smith Hill Capital, LLC (“Smith Hill”).
The hospitality industry continues to rebound from the decline in travel during the COVID-19 pandemic. Yet, one lingering impact looms. With maintenance and renovation projects mostly deferred over the last two-and-a-half years, guest satisfaction is taking a hit from outdated and inconsistent hotel conditions. The latest J.D. Power North America Hotel Guest Satisfaction Index shows that overall guest satisfaction is down 8 points on a 1,000-point scale, driven in part by dissatisfaction with guest rooms.
Shiji Group has announced that the 200th installation of Shiji's Infrasys Cloud point-of-sale recently went live at Hyatt Regency Orlando International Airport in Orlando, Florida. Shiji and Hyatt originally began working together in 2019 after Hyatt selected Shiji’s Infrasys Cloud product to power systems at food and beverage outlets at select Hyatt properties.
Atlanta-based Hospitality Lodging Systems (HLS) has added two Budgetel Inn & Suites brand properties and two Haven Hotel brand properties to its portfolio. There are now 37 Budgetel hotels with 3,813 rooms operating in 10 states plus China and 12 Haven properties with 698 rooms in nine states.
Airbnb is working with some of the multifamily industry's largest landlords in a bid to boost listings and increase its stake in the apartment business.
The International Society of Hospitality Consultants (ISHC) has named Kendra Plummer as the recipient of the annual Lori Raleigh Award for Emerging Excellence in Hospitality Consulting. Plummer was honored at the ISHC annual conference held in Prague, Chez Republic. As winner, Plummer received a one-year associate membership to the ISHC to further professional relationships and experience all that the Society has to offer through planned events and interacting with top hospitality industry consultants from around the globe.
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