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Fairmont Newport Beach Sells for $125 Million

Fairmont Newport Beach Sells for $125 Million

ALISO VIEJO, Calif.—Sunstone Hotel Investors has announced the sale of the 444-room Fairmont Newport Beach for a contractual gross sale price of $125.0 million, or approximately $281,500 per key. The sale price of $125.0 million represents a 16.0x multiple on ...

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Pendry Hotels Opens in San Diego

Pendry Hotels Opens in San Diego

ORANGE COUNTY, Calif.—Pendry Hotels has announced the grand opening of its first hotel in San Diego’s renowned downtown Gaslamp Quarter. A new luxury brand from Montage International, in partnership with The Robert Green Development Company, The Pendry is a refreshing ...

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Aloft Miami Airport Opens

Aloft Miami Airport Opens

BETHESDA, Md.—Marriott International has announced it has opened an Aloft hotel at Miami International Airport. The brand’s fourth hotel in greater Miami, Aloft Miami Airport is an adaptive re-use project that has transformed the Pan American Bank Building into a ...

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W Hotels to Debut in Prague in 2020

W Hotels to Debut in Prague in 2020

NEW YORK—W Hotels Worldwide, part of Marriott International, has announced it will open W Prague in 2020. Owned by PPH Evropa s.r.o, W Prague marks the brand’s debut into the Czech Republic, and will be located on Wenceslas Square in ...

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R.D. Olson Completes First DKN Hotels Project

R.D. Olson Completes First DKN Hotels Project

IRVINE, Calif.—R.D. Olson Construction, a premier builder of hotel properties in California, has announced it completed construction on Homewood Suites by Hilton Irvine/John Wayne Airport, in close proximity to John Wayne Airport. The ground-up project marks the firm’s first partnership ...

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Analyzing Complimentary Services and Rooms

Analyzing Complimentary Services and Rooms

The offering of complimentary services and amenities by U.S. hotels is on the rise. From 2007 to 2015, hotel expenditures on complimentary food, beverages, in-room media, services, and gifts just within the rooms department increased at a compound annual growth ...

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