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Hersha Closes on Joint Venture with Cindat

Hersha Closes on Joint Venture with Cindat

PHILADELPHIA—Hersha Hospitality Trust, owner of upscale hotels in urban gateway markets, announced the company has closed on the joint venture for seven of the company’s premium limited service hotels in Manhattan with Cindat Capital Management Limited, a China-based investment management ...

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New Spring Reservation Demand Weakens

New Spring Reservation Demand Weakens

NEW YORK—New reservation commitments added over the last month are down -7.1 percent, according to new data from TravelClick’s April 2016 North American Hospitality Review (NAHR). These numbers highlight hotels’ continued fragmented performance during this season. However, there remains some ...

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Marcus & Millichap Arranges 225-Room Marriott Sale

Marcus & Millichap Arranges 225-Room Marriott Sale

DENVER, Colo.—Marcus & Millichap has arranged the sale of three Marriott Fairfield Inn & Suites hotels in the Denver area. The portfolio contains a total of 225 rooms. “The hotels are all located in stable submarkets within the Denver metropolitan ...

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Oxford Capital Sells $315 Million LondonHouse Chicago

Oxford Capital Sells $315 Million LondonHouse Chicago

CHICAGO—An Oxford Capital Group-led venture with Angelo, Gordon today announces the $315 million sale and 25 year lease-management back of LondonHouse Chicago, at the corner of North Michigan Avenue and Wacker Drive, to Germany’s Union Investment Real Estate. Scheduled to ...

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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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