While the Marriott-Starwood merger may be the most buzzed-about deal this week, the two companies have a long way to go before completing the transaction. In the meantime, here’s a look at some notable hotel sales and acquisitions that have taken place recently:
Hunter Hotel Advisors has announced the sale of the 221-suite Embassy Suites by Hilton Columbus, Ohio. An affiliate of RLJ Lodging Trust sold the hotel for $14.1 million to Frontier Development & Hospitality Group. The buyer plans to completely renovate the hotel to match Hilton’s new prototype.
Crimson Hotels has acquired London’s Regency Hotel for more than $100 million, and has reached an agreement to convert the space into a DoubleTree by Hilton. DoubleTree by Hilton London – Kensington will be Crimson Hotels’ fourth hotel under the brand. Prior to opening under its new name, the property will undergo a renovation to create a new lobby and refurbished lounge.
Marcus & Millichap has announced the sale of Hotel Tucson City Center InnSuites for more than $9.6 million. The buyer of the 267-room property is a private investor from Texas.
The Marcus Corporation has completed the sale of the Hotel Phillips in Kansas City, Mo., to Arbor Lodging Partners. Terms of the transaction were not disclosed. The Marcus Corporation owned and managed the 217-room hotel for 14 years.
Songy Highroads has purchased Hyatt Fairfax in Virginia. The 14-story hotel will soon undergo a $14 million renovation to convert it into a Hyatt Regency.
Carey Watermark Investors 2 has purchased Embassy Suites by Hilton Denver-Downtown/Convention Center. Carey Watermark intends to complete a full guestroom soft goods renovation of the 403-suite property in winter 2016.
Xenia Hotels & Resorts has sold the 656-room Hyatt Regency Orange County for $137 million. SCG America, the U.S. arm of Shanghai Construction Group, purchased the property.
American Hotel Income Properties REIT has completed the acquisition of a 70-room hotel in Fort Scott, Kan., for more than $3.3 million. The Fort Scott Property will be managed by TR Lodging Enterprises.
Moody National REIT II has acquired the Marriott Residence Inn Austin-University Area hotel for $25.5 million. The 112-room property opened in 2014.
American Realty Capital Hospitality Trust has completed its purchase of two hotels for a purchase price of $48.6 million from affiliates of Noble Investment Group. The two hotels are the 127-room Hyatt Place Chicago/Schaumburg, Ill., and the 204-room Hilton Garden Inn Monterey, Calif.
