Deal Report: Six Hotel Acquisition and Financing Announcements

AWH Partners, a privately held real estate investment, development, and management firm, has acquired Topnotch Resort and Spa, a ski lodge at the foot of Mount Mansfield in Stowe, Vermont. Spire Hospitality, AWH’s full-service hospitality management company, is now managing the resort and will immediately implement its repositioning strategy, leveraging Spire’s experience at AWH’s similarly-situated High Peaks Resort in Lake Placid, New York, to drive stronger operating revenues and profit margins.

Sun Hill Properties, the owner and operator of the Hilton Los Angeles/Universal City, has acquired two Colorado hotel properties. Both hotels are part of the Marriott family and predominantly cater to business travelers. The 99-suite TownePlace Suites Denver Southwest is located in Littleton near the Denver Botanic Gardens and the headquarters of Johns Manville. The 84-suite TownePlace Suites in Colorado Springs is near Pikes Peak and the Garden of the Gods Visitor and Nature Center.

HREC Investment Advisors has arranged the sale of the 90-room SpringHill Suites by Marriott Orlando Altamonte Springs/Maitland, located in the Orlando North submarket. The buyer was a first-time hotel buyer seeking stable cash flows in a strong market. Paul Sexton, SVP in the Orlando office, exclusively represented the seller, Driftwood Acquisitions & Development, a privately held investment fund management company, during the transaction.

Kingwood International Resorts has purchased the AAA Four Diamond-rated Reunion Resort, located on 2,300 acres in Central Florida near Walt Disney World theme parks. Specializing in golf-centered clubs and resorts, Atlanta-based Kingwood International currently owns and operates Kingwood Country Club & Golf Resort and Achasta Golf Resort community, both in North Georgia, and the eco-friendly Plantation on Crystal River in Central West Florida.

KDG Capital, a Florida-based real estate private equity firm, has purchased the Snow King Resort in Jackson, Wyoming. BENCHMARK will continue to operate and market the 230-room property, located at the foot of Snow King Mountain in the Grand Teton mountains, just minutes from the center of Jackson Hole, Wyoming. KDG plans to invest $5 million in capital improvements to the property. Snow King Resort Hotel is part of Benchmark’s signature Benchmark Resorts & Hotels brand.

PMZ Realty Capital, a boutique real estate investment banking firm, has secured three hotel loans totaling $25 million for a trio of Hilton hotels: the 112-room Hilton Garden Inn in Flowood, Mississippi; the 70-room Hampton Inn in West Point, Mississippi; and the 90-room Tru by Hilton in McDonough, Georgia.