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Development

Press Release

Highline Hospitality Partners acquires Hilton Garden Inn Arlington Courthouse Plaza

Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners, has acquired the Hilton Garden Inn Courthouse Plaza Arlington Courthouse Plaza. The 193-room, premium select-service hotel marks HHP’s 12th property and its first venture into the Washington DC metro area.Situated in Arlington’s Rosslyn-Ballston corridor, the hotel is ideally situated in Northern Virginia’s stable and growing demand generators, including the Pentagon, Amazon’s HQ2 and the burgeoning defense and tech corporate sectors. The hotel is also conveniently located within walking distance of the Court House stop on the DC Metro,

Highline Hospitality Partners
Arlington, Virginia, United States
Press Release

Valencia Hotel Group Secures Largest Equity Raise to Date, Acquiring Cavalry Court and The George in College Station, Texas

Valencia Hotel Group is thrilled to announce a major achievement in its growth trajectory with the successful completion of its largest equity raise to date. This landmark investment facilitates the acquisition of Cavalry Court and The George, two premier boutique hotel properties located in the heart of College Station, Texas.

Valencia Hotel Collection (VHC)
College Station, Texas, United States
Opinion Article

Jacksonville, FL Supports a Robust Hotel Development Pipeline Despite Economic Uncertainty

While many U.S. markets have experienced a slowdown in hotel development amid rising construction costs, increasing financing costs, and general uncertainty, the greater Jacksonville market area has continued to support a robust hotel development pipeline. Factors contributing to this growth include ongoing infrastructure projects in the market, such as the JAXPORT dredging project and Interstate 295 expansion; the ongoing work of the Jacksonville Downtown Investment Authority (DIA) to broaden the city’s appeal as an international business destination; and the availability of land suitable for development.Thus, contrary to other large U.S. markets, Jacksonville did not experience a slowdown of new supply in the post-pandemic period, with over 9% of Duval County’s roughly 20,000 guestrooms being added from January 2021 through June 2024. The following properties represent some of the market’s most noteworthy additions during that period:

Hannah McManus
By Hannah McManus, Project Manager, Tampa, HVS
Jacksonville, Florida, United States
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Tambourine
Press Release

2024 U.S. Hotel Investor Intentions Survey

A few months ago CBRE Hotels conducted a survey of executives whose primary responsibility is investing in U.S. hotels. Survey participants were asked to describe their U.S. hotel investment preferences for 2024 by geography, chain-scale, and type of hotel. In addition, they were asked about the factors that influenced their priorities.

CBRE Hotels
United States
Press Release

Plamondon Hospitality Partners Expands Their Award-Winning Hospitality Services With Newest Property Purchase

Plamondon Hospitality Partners, headquartered in Frederick, Maryland, is excited to announce their purchase of the Holiday Inn Express & Suites Johnstown in Johnstown, Pennsylvania. The acquisition of the Holiday Inn Express & Suites marks the beginning of Plamondon’s transition into the region’s market.

Plamondon Hospitality Partners
Johnstown, Pennsylvania, United States
Ad Guide
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Mews
Press Release

Everhome Suites Expands Presence in the Northeast with Three New Groundbreakings in New Hampshire, New Jersey, and New York

Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, continues to expand its Everhome Suites brand with recent groundbreakings in Portsmouth, New Hampshire; Rochester, New York; and Somerset, New Jersey, developed in collaboration with Highside Companies. The extended stay demand fundamentals make these locations an ideal fit for the Everhome Suites midscale brand, catering to both business and leisure travelers. Within the category, Choice has nearly 480 hotels open and more than 400 properties in the pipeline across its four extended stay brands, as of the first quarter of 2024.

Choice
United States
Press Release

Marriott International Announces Three Conversions to Bring Iconic Luxury Properties in the United States into the Marriott Bonvoy Portfolio

Marriott International, Inc. [Nasdaq: MAR] announces plans to convert three iconic luxury properties in the U.S. to brands within the Marriott Bonvoy portfolio. Located in some of the most sought-after destinations in the country, The Resort at Pelican Hill, Turtle Bay Resort, and a luxury Midtown hotel in New York City are all expected to join Marriott Bonvoy’s luxury brands this summer.

Marriott
United States
Press Release

Wall of U.S. hotel debt maturities to catalyze transactions

$5.8 billion of U.S. hotel single-asset securitized loans, including CMBS and CRE CLOs are coming due for maturity in 2024. Despite the U.S. hotel industry demonstrating strong RevPAR performance, there are multiple headwinds that could impede the refinancing of these securitized loans and compel owners to transact instead. These headwinds include the lagging profitability of U.S. hotels, persistently high interest rates, and historically high costs of property insurance.

JLL
United States