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Ashford Hospitality Trust Proposes to Acquire FelCor

Ashford Hospitality Trust Proposes to Acquire FelCor

DALLAS—Ashford Hospitality Trust, a real estate investment trust focused on investing in the hospitality industry in upper upscale, full-service hotels, announced today that it has submitted a non-binding proposal to acquire FelCor Lodging Trust for a total consideration of $9.27 ...

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Concord to Open Pittsburgh’s First Autograph Hotel

Concord to Open Pittsburgh’s First Autograph Hotel

PITTSBURGH—Concord Hospitality has announced that it plans to open Pittsburgh’s first Autograph Collection Hotel in the heart of the Oakland neighborhood. Construction began on the 167-room property, The Oaklander Hotel, last month. The development team is led by Oakland Fifth ...

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Crowne Plaza Marina Hotel Sells to Shamin Hotels Affiliate

Crowne Plaza Marina Hotel Sells to Shamin Hotels Affiliate

NEWPORT NEWS, Va.—Mumford Company, a full-service hospitality brokerage advisory firm since 1978, announced they represented the affiliates of Sotherly Hotels in the sale of the Crowne Plaza Marina Hotel, Hampton, Va., to Marina Hotel, an affiliate of Shamin Hotels. Shamin ...

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My Place Hotels Opens Second Utah Location

My Place Hotels Opens Second Utah Location

WEST JORDAN, Utah—Only 10 months after My Place made its debut in Utah with the opening of My Place Hotel-West Valley City, the brand has announced that Utah’s second My Place location is now open in West Jordan. The opening ...

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Fairmont Newport Beach Sells for $125 Million

Fairmont Newport Beach Sells for $125 Million

ALISO VIEJO, Calif.—Sunstone Hotel Investors has announced the sale of the 444-room Fairmont Newport Beach for a contractual gross sale price of $125.0 million, or approximately $281,500 per key. The sale price of $125.0 million represents a 16.0x multiple on ...

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Pendry Hotels Opens in San Diego

Pendry Hotels Opens in San Diego

ORANGE COUNTY, Calif.—Pendry Hotels has announced the grand opening of its first hotel in San Diego’s renowned downtown Gaslamp Quarter. A new luxury brand from Montage International, in partnership with The Robert Green Development Company, The Pendry is a refreshing ...

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