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Interstate and White Lodging Close Management Acquisition Deal

Interstate and White Lodging Close Management Acquisition Deal

ARLINGTON, Va.—Interstate Hotels & Resorts has closed a deal—first announced in December 2017—to acquire the management agreements for 82 premium-branded, select- and full-service hotels, plus one restaurant, from White Lodging. The deal is effective January 24, 2018. “A transaction of ...

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Terrapin Investments Buys Two Glenwood Springs Hotels

Terrapin Investments Buys Two Glenwood Springs Hotels

Denver, Colo.—HREC Investment Advisors has arranged the sale of the 65-guestroom Holiday Inn Express and the 70-room Hampton Inn, both located in Glenwood Springs, Colo. Terrapin Investments and Management Corp bought the properties and will also manage the hotels. Both hotels ...

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Wyndham to Buy La Quinta for $1.95 Billion

Wyndham to Buy La Quinta for $1.95 Billion

PARSIPPANY, N.J. and IRVING, Texas—Wyndham Worldwide Corporation and La Quinta Holdings Inc. announced today that they have entered into a definitive agreement under which Wyndham Worldwide will acquire La Quinta’s hotel franchise and hotel management businesses for $1.95 billion in ...

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Rockbridge Acquires Marriott in Palm Beach Gardens, Florida

Rockbridge Acquires Marriott in Palm Beach Gardens, Florida

COLUMBUS, OHIO—Rockbridge has acquired the Marriott in Palm Beach Gardens, Fla., in a joint venture with Pinnacle Hotel Management, which will manage the hotel. The property will undergo an extensive renovation that is scheduled for the third quarter of 2018. The ...

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HREC Arranges Sale of Marriott SpringHill Suites Las Cruces

HREC Arranges Sale of Marriott SpringHill Suites Las Cruces

Denver, Colo. and San Diego, Calif.–HREC Investment Advisors has arranged the sale of the 101-suites Marriott SpringHill Suites Las Cruces in New Mexico. The buyer is a California-based investor who owns and operates a hotel portfolio throughout the Southwest under major ...

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