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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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HHM Acquires Sheraton Miami Airport Conference Hotel

HHM Acquires Sheraton Miami Airport Conference Hotel

MIAMI—Philadelphia based HHM has completed its acquisition of the Sheraton Miami Airport Hotel and Executive Meeting Center, which features 405 rooms, 17,000 square feet of updated meeting space, an 1,800-square-foot fitness facility, plus multiple food and beverage outlets. The 405-room ...

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Narsi Properties Acquires North Carolina Homewood Suites

Narsi Properties Acquires North Carolina Homewood Suites

DURHAM/CHAPEL HILL, N.C.—Narsi Properties, a hotel owner/developer/operator based in North Carolina, has announced the acquisition of the 96-suite Homewood Suites by Hilton Durham-Chapel Hill/I-40 for an undisclosed sum. The hotel is in the midst of a major renovation to upgrade ...

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