Development USA & Canada Press Releases - Hospitality Net

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January 18, 2023

Industry-leading Hospitality Real Estate Company Announces Official Launch Of Third-Party Property Management

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.

Staypineapple Hotels Inc.

January 17, 2023

Sandpiper Lodging Trust Announces Acquisition of 5 Extended Stay Hotel Assets

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.

Sandpiper Hospitality

January 17, 2023

CBRE Arranges Sale of 65-Property Hotel Portfolio worth $514 Million

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.

January 12, 2023

Mission Hill Hospitality Acquires Holiday Inn Steamboat

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.

Mission Hill Hospitality and KSL Capital Partners, LLC

Colorado, United States

January 9, 2023

Delaware North Continues To Grow Its Parks and Resorts Portfolio With Acquisition of Grand Canyon Squire Inn

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.

Delaware North Companies

Grand Canyon, Arizona, United States

January 5, 2023

Arbor Lodging Launches Arlo Residential, a New Vertical Initially Aimed at Converting Properties Into Multifamily Housing Solutions

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.

January 5, 2023

LRE & Companies Unveils Plans for New 13-Acre Mixed-Use Development Project in Rapidly Growing Fernley, NV

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.

LRE & Companies

Fernley, New Brunswick, United States

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January 4, 2023

Everwood Hospitality Partners Completes Acquisition of LaQuinta I Drive/Convention Center Hotel

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.

Everwood Hospitality Partners

Orlando, Florida, United States

December 23, 2022

The St. Joe Company Announces Recent Commercial and Hospitality Transactions

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 St. Joe Company

Florida, United States

December 23, 2022

The Plasencia Group Awarded Top Hospitality Project By The Tampa Bay Business Journal

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.

The Plasencia Group

December 21, 2022

Procaccianti Companies Forms Smith Hill Capital, LLC.

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 Procaccianti Group (TPG)

December 19, 2022

Hotel owners turn their attention to renovations

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.

December 8, 2022

Hospitality Lodging Systems Adds 2 Budgetel & 2 Haven Hotels

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.

Hospitality Lodging Systems (HLS)

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November 23, 2022

Kendra Plummer Receives ISHC’s Lori Raleigh Award for Emerging Excellence in Hospitality Consulting

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.

November 21, 2022

Flynn Properties and Värde Partners Acquire 80% Interest in 89 Select Service and Extended Stay Hotels

Flynn Properties Inc., owner of commercial real estate, luxury resorts and select service hotel properties in America and abroad, in a joint venture with Värde Partners, a leading global alternative investment firm, today announced that it has acquired an 80% joint venture interest in 89 select service and extended stay hotels in a $1.1 billion implied total enterprise value transaction from affiliates of Highgate and Cerberus Capital Management, L.P. (“Cerberus”).

Flynn Properties, Inc.

November 11, 2022

CBRE Webinar Recap Refresh, Remodel & Rebrand: Plan, Execute & Finance Hotel Renovations

"Refresh, Remodel & Rebrand: Plan, Execute & Finance Hotel Renovations" was moderated by head of hotel analytics and data research, Rachel Rothman, and was facilitated by prominent industry leaders Steve Schrope, Ethan Gabany and Olga Lepow. Opening with a detailed accounting of the current hospitality landscape, the presentation takes a deep dive into the hotel business, not shying away from tough questions during an in-depth Q&A session.

November 10, 2022

WoodSpring Suites Announces Agreement with Noble Investment Group to Develop Nine New Hotels

During the third quarter, Choice Hotels International, Inc. (NYSE: CHH) signed an agreement with Noble Investment Group (Noble) to develop nine WoodSpring Suites hotels in Georgia and South Carolina over the next two years, signaling increased institutional interest in the largest economy extended-stay brand in the market.

November 10, 2022

New York City Hotel Development

As Lodging Econometrics (LE) prepares to attend the 2022 Boutique Design New York (BDNY) conference in New York City, LE releases the latest on hotel development for the New York City market. LE also has available hotel development information on any market in the United States or any other market in the world.

Lodging Econometrics

New York, New York, United States

November 9, 2022

California Lodging Investment Conference [CLIC] Opens Nomination Process for 2023 Hotel Development Deal of the Year

Officials of the California Lodging Investment Conference [CLIC], the only hospitality conference focused on the California hotel market, today opened the nomination process for the 2023 Hotel Development Deal of the Year award. The winner will be announced during the upcoming, sixth annual gathering which will take place March 1-2, 2023, at the Westin South Coast Plaza in Costa Mesa, Calif.

California Lodging Investment Conference [CLIC]

California, United States

November 8, 2022

Hotel Renovation Projects in Canada Show Substantial YOY Increase at Q3 Close

According to the recent Hotel Construction Pipeline Report for Canada by Lodging Econometrics (LE), LE analysts report that in the third quarter of 2022 the total construction pipeline in Canada stands at 263 projects/34,825 rooms, up 2% by projects and rooms year-over-year (YOY).

Lodging Econometrics