Category Archives: Acquisitions

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RLJ Lodging Trust Acquires Hyatt Place D.C. for $68 Million

RLJ Lodging Trust Acquires Hyatt Place D.C. for $68 Million

WASHINGTON, D.C.—Atlanta-based Songy Highroads, LLC sold the 164-room Hyatt Place D.C./Downtown/K Street located in Washington, D.C., to RLJ Lodging Trust for $68 million. At approximately $415,000 per key, the sale sets a high-water mark for select-service hotels in the Washington, ...

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Blackstone Group Acquires 15-Hotel Portfolio for $203 Million

Blackstone Group Acquires 15-Hotel Portfolio for $203 Million

ATLANTA—Hunter Hotel Advisors announced today that it represented Pinnacle Hotel Management (PHM) in the sale of a 15-hotel, select-service portfolio comprised of Marriott- and Hilton-branded hotels for $203 million to the Blackstone Group. Nine of the hotel transactions already have ...

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DiamondRock Hospitality Acquires Key West Sheraton Suites

DiamondRock Hospitality Acquires Key West Sheraton Suites

BETHESDA, Md.—DiamondRock Hospitality Company has announced that it recently acquired the fee simple interest in the 184-suite Sheraton Suites Key West in Key West, Fla., for $94 million (or $511,000 per guest room). The purchase price represents a 12.8 multiple ...

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Deal Roundup: The Latest Sales and Acquisitions

Deal Roundup: The Latest Sales and Acquisitions

On July 10, InterContinental Hotels Group announced it agreed to sell ownership interest in InterContinental Hong Kong to Supreme Key Limited, a consortium of investors advised and managed by Gaw Capital Partners, for $938 million. Supreme Key Limited expects to ...

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Palisades Hospitality Group Buys Colony Palms Hotel

Palisades Hospitality Group Buys Colony Palms Hotel

PALM SPRINGS, Calif.—Palisades Hospitality Group (PHG) and CovoCapital, a boutique real estate investment company based in San Francisco, announced they have purchased the Colony Palms Hotel. PHG will operate the Colony Palms under its hotel subsidiary. Other hotels in this ...

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