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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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R.D. Olson Opens Burbank SpringHill Suites

R.D. Olson Opens Burbank SpringHill Suites

BURBANK and IRVINE, Calif.—R.D. Olson Development has opened the 170-room SpringHill Suites by Marriott hotel in Burbank, California, adding to the growing list of completed projects for the Irvine, California-based developer. Executives from R.D. Olson Development and Marriott International were ...

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Cambria Southlake DFW North Breaks Ground

Cambria Southlake DFW North Breaks Ground

SOUTHLAKE, Texas—Choice Hotels International, Inc., Fillmore Capital Partners, and developer Fillmore Hospitality announced the groundbreaking of Cambria Southlake DFW North and the grand opening of Kimball Park, the mixed-use development in which the hotel is located. The hotel is situated ...

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Starwood’s Luxury Collection Expands European Portfolio

Starwood’s Luxury Collection Expands European Portfolio

BRUSSELS—Following the announcement of Starwood Hotels & Resorts Worldwide, Inc. investing $300 million in coordination with its owner partners to expand and improve The Luxury Collection portfolio in North America, Starwood’s largest luxury brand has announced that it will expand ...

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