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Three Orlando Properties Sold for $40.9 Million

Three Orlando Properties Sold for $40.9 Million

ORLANDO, Fla.–Marcus & Millichap, a commercial real estate investment services firm, has announced the sale of a three-property hospitality repositioning and redevelopment opportunity in Orlando, Florida. The three properties, located in Orlando’s International Drive submarket, sold for a total of ...

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Embassy Suites Pittsburgh Airport Sold for $25 Million

Embassy Suites Pittsburgh Airport Sold for $25 Million

CORAOPOLIS, Pa.—Commercial real estate investment services firm Marcus & Millichap recently announced the sale of the 223-room Embassy Suites Pittsburgh Airport in Coraopolis, Pennsylvania. The property sold for $25 million, which equates to $112,108 per room. Jerry Swon and Daniel ...

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Mumford Company Closes Seven Transactions

Mumford Company Closes Seven Transactions

Newport News, Va.—Mumford Company, a full-service hospitality brokerage advisory firm, announced it has closed seven transactions involving properties across the United States in the last few weeks. The hotels—located from Montana to Virginia—all sold in individual transactions and represent a ...

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Ashford Prime Rebrands as Braemar Hotels & Resorts

Ashford Prime Rebrands as Braemar Hotels & Resorts

DALLAS—Ashford Hospitality Prime, Inc. today announced that it will change its name to Braemar Hotels & Resorts, Inc., trading under the New York Stock Exchange ticker symbol BHR, effective before the market opens on April 24, 2018. The REIT says that ...

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The Forces at Play in the Select-Service Refresh Cycle

The Forces at Play in the Select-Service Refresh Cycle

With the lowest unemployment rate in 17 years, corporate tax cuts on the horizon, and a reported 313,000 new jobs in February, U.S. businesses are poised to enjoy continued economic growth. This economic trajectory began after the 2008 financial crisis ...

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