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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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Global Uncertainty Causes Lag in Business Travel

Global Uncertainty Causes Lag in Business Travel

ALEXANDRIA, Va.—U.S. business travel will continue to grow only moderately in 2016 as global uncertainty looms. This is one of the key findings from the GBTA BTI Outlook—United States 2016 Q1, a report by the GBTA Foundation, the education and ...

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Marcus & Millichap Sells $30 Million Portfolio

Marcus & Millichap Sells $30 Million Portfolio

FARGO, N.D.—Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of a two-property hospitality property portfolio in Fargo. The assets are a Holiday Inn and a Holiday ...

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