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Lightstone Value Plus REITs Buy Four Arkansas Hotels

Lightstone Value Plus REITs Buy Four Arkansas Hotels

NEW YORK—Lightstone Value Plus Real Estate Investment Trust (LVPR) and Lightstone Value Plus Real Estate Investment Trust II (LVPR II) announced the acquisition of four Marriott and Starwood hotels in Arkansas for $29.1 million. LVPR acquired the Marriott Fairfield Inn ...

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Residence Inn Takes Over Warehouse in Boston

Residence Inn Takes Over Warehouse in Boston

BOSTON—A new 120-suite Residence Inn by Marriott opened this week in downtown Boston’s Seaport District, transforming a six-story historic 1900s building into a modern-day hotel. The structure was once likely used for sugar and molasses warehousing. The Residence Inn Boston ...

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Ritz-Carlton Heading Back to Bali in 2014

Ritz-Carlton Heading Back to Bali in 2014

HONG KONG—The Ritz-Carlton Hotel Company is set to make a return to the island of Bali in 2014. The Ritz-Carlton, Bali is owned by PT Oriental Indah Bali Hotel Company and designed by architects and designers, Burega Farnell. It will ...

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Eden Roc Miami Beach Appoints New Management

Eden Roc Miami Beach Appoints New Management

MIAMI—Hotel investment group Eden Roc LLLP, the owner of the Eden Roc Hotel in Miami, Fla., announced that Destination Hotels and Resorts will assume management of the luxury property beginning July 11. The 21-floor, 631-room hotel, formerly known as the ...

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Ashford Hospitality Trust Launches Spin-Off REIT

DALLAS—Ashford Hospitality Trust announced that the company’s Board of Directors approved a plan to spin-off an 80 percent ownership interest in an eight-hotel portfolio, totaling 3,146 rooms. Ashford Prime is expected to qualify as a real estate investment trust (REIT) ...

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