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Ashford Hospitality Trust Sells $142 Million Portfolio

Ashford Hospitality Trust Sells $142 Million Portfolio

DALLAS—Ashford Hospitality Trust, Inc. announced today that it has entered into a definitive agreement to sell a 5-hotel, 1,396-room portfolio of select-service hotels for $142 million in cash ($102,000 per key) to Noble Investment Group. The portfolio is comprised of ...

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Sessa Sends Letter to Ashford Hospitality Prime Shareholders

Sessa Sends Letter to Ashford Hospitality Prime Shareholders

NEW YORK—Sessa Capital (Master), L.P. (Sessa), owner of 8.2 percent of the outstanding common shares of Ashford Hospitality Prime, Inc. (Ashford Prime or the company) today sent the following letter to Ashford Prime shareholders in response to the company’s termination ...

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Apple Hospitality REIT, Apple REIT Ten to Merge

Apple Hospitality REIT, Apple REIT Ten to Merge

RICHMOND, Va.—Apple Hospitality REIT, Inc. and Apple REIT Ten, Inc. (“Apple Ten”), collectively the “Pro Forma Combined Company,” announced today that the boards of directors of both companies have approved a definitive merger agreement under which the companies will create ...

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Boston Marathon Bumps Hotel Rates

Boston Marathon Bumps Hotel Rates

BOSTON—Distance runners and their accompanying cheerleaders who are looking for a hotel room in Boston for the marathon next Monday might have to spend a lot more than expected. According to a new survey conducted by BostonHotels.org, hotels are increasing ...

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Flexible Models Ease Leisure Companies’ Cuban Market Entry

Flexible Models Ease Leisure Companies’ Cuban Market Entry

NEW YORK—Flexible and less capital-intensive business models should facilitate U.S. leisure companies’, including cruise operators, hotels, and online travel agencies (OTAs), Cuban market entry following renewed U.S./Cuba diplomatic relations, according to Fitch Ratings. Several companies are laying the groundwork for ...

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Stonehill Projects Record Year in Transaction Activity

Stonehill Projects Record Year in Transaction Activity

Stonehill Strategic Capital hit a record high in the first quarter, closing approximately $190 million in hotel financing. That follows a strong 2015, in which the Atlanta-based direct lender executed on 23 transactions. With a substantial number of projects already ...

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