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Blackstone Buys Strategic Hotels for $6 Billion

Blackstone Buys Strategic Hotels for $6 Billion

CHICAGO—Strategic Hotels & Resorts, Inc. has announced that it has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII L.P., under which Blackstone will acquire all outstanding shares of common stock of Strategic Hotels & Resorts, ...

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Le Méridien Batumi Opening in 2018

Le Méridien Batumi Opening in 2018

STAMFORD, Conn.—Starwood Hotels & Resorts Worldwide, Inc., in partnership with Red-Co Ltd, today announced that its Paris-born Le Méridien brand will open in Batumi, the brand’s first location in the Republic of Georgia. Scheduled to open in 2018, the 110-room ...

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AC Hotel to Make Portland Debut

AC Hotel to Make Portland Debut

PORTLAND, Ore.—McWhinney and Sage Hospitality, along with Mortenson Development and Mortenson Construction, have partnered to develop and build the 13-story AC Hotel by Marriott in downtown Portland, on the corner of SW Third Avenue and Taylor Street, planned to open ...

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DoubleTree by Hilton Opens in Historic Decatur

DoubleTree by Hilton Opens in Historic Decatur

DECATUR, Ala. & MCLEAN, Va.—Hilton Worldwide and DoubleTree by Hilton have announced the opening of the DoubleTree by Hilton Decatur Riverfront, a five-story, 165-room hotel located in historic downtown Decatur, 14 miles from Huntsville International Airport. Formerly a Garden Plaza ...

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Deal Roundup: The Latest Sales and Acquisitions

Deal Roundup: The Latest Sales and Acquisitions

Xenia Hotels & Resorts, the Orlando-based lodging arm for Inland American Real Estate Investment Trust, announced on Aug. 11 that it has agreed to acquire the Hotel Commonwealth in Boston’s Kenmore Square neighborhood for $136 million. The transaction is expected ...

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