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Crowne Plaza Marina Hotel Sells to Shamin Hotels Affiliate

Crowne Plaza Marina Hotel Sells to Shamin Hotels Affiliate

NEWPORT NEWS, Va.—Mumford Company, a full-service hospitality brokerage advisory firm since 1978, announced they represented the affiliates of Sotherly Hotels in the sale of the Crowne Plaza Marina Hotel, Hampton, Va., to Marina Hotel, an affiliate of Shamin Hotels. Shamin ...

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Crowdfunding Offers Alternative Means of Financing

Crowdfunding Offers Alternative Means of Financing

What goes up must come down. Many experts are saying that the hotel industry has reached the peak of the current cycle. While most industry benchmarks—occupancy, ADR, and RevPAR—are still on the higher end of recent memory, others are starting ...

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My Place Hotels Opens Second Utah Location

My Place Hotels Opens Second Utah Location

WEST JORDAN, Utah—Only 10 months after My Place made its debut in Utah with the opening of My Place Hotel-West Valley City, the brand has announced that Utah’s second My Place location is now open in West Jordan. The opening ...

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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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