Lodging Daily News

NEWPORT NEWS, Virginia—Mumford Company announced it completed the sale of the Tru by Hilton Rockwall Dallas, located in Rockwall, Texas. “It was our pleasure to have once again had the opportunity to represent McNeill family interests in the sale of the Tru by Hilton,” said David Mumford, senior principal, Mumford Company. “For over 30 years, across many transactions as both sellers and buyers, we have enjoyed working with Mr. McNeill, his family, and investor groups

HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index grew 8.2 percent in July to a level of 6,074. “Hotels stocks outperformed again in July with the global hotel brands leading the way higher,” said Michael Bellisario, senior hotel research analyst and director at Baird. “For the last few months, broader stock market momentum and investors’ risk-on appetite have bolstered the hotel stocks’ performance; additionally, continued international strength and recovering cross-border travel have benefitted the global

PLANO, Texas—Aimbridge Hospitality named Tiffany Cooper and Niall Kelly to its global growth leadership team, led by Aimbridge’s Chief Global Growth Officer Allison Reid. Cooper joins as chief development officer—Americas and Caribbean, and Kelly assumes the role of head of development—EMEA. “I am delighted to welcome Tiffany and Niall to our global growth leadership team as we continue to evolve and strengthen strategies that directly support portfolio expansion and drive margin improvements for Aimbridge, our

NEW YORK—PMZ Realty Capital LLC announced that it arranged leasehold acquisition financing for the Holiday Inn Charleston-Riverview located in Charleston, South Carolina. A regional bank provided the $13.5 million acquisition loan for the property. “PMZ evaluates every single deal to determine what type of lender to approach for the project,” said Michael Sonnabend, co-CEO, PMZ Realty Capital. “Having done over ten deals with this sponsor and having a relationship with the regional bank allowed us

DALLAS—Commercial real estate lending slowed in the second quarter of 2023 as market uncertainty weighed on available debt capital, according to the latest research from CBRE. The CBRE Lending Momentum Index, which tracks the pace of CBRE-originated commercial loan closings in the United States, declined by 5.4 percent from Q1 2023 and 52.2 percent when compared with the strong loan volume of a year earlier. The index closed Q2 2023 at a value of 193.