This Week’s Deal Report

The latest hotel acquisition, reflagging, and financing announcements | April 24, 2019 Edition

MCR Acquires Hilton Garden Inn Near Las Vegas

MCR has acquired the 139-room Hilton Garden Inn Las Vegas/Henderson. Located less than 15 minutes from McCarran International Airport, the hotel is a brief drive from the Las Vegas Strip in the desert metropolis of Henderson, which offers upscale shopping, dining, and recreation options. The 139-room hotel offers free WiFi; a 24-hour business center; a hot tub and heated outdoor pool; an onsite restaurant, Rachel’s Kitchen, serving breakfast, lunch, and dinner; The Pavilion Pantry, a 24-hour convenience store; 1,300 square feet of meeting and event space; a 24-hour fitness center; and on-site laundry service.

HHM Acquires DoubleTree by Hilton Atlanta Airport

Philadelphia-based HHM has completed its acquisition of the DoubleTree by Hilton Atlanta Airport, a 220-guestroom property with 4,500 square feet of updated meeting space, multiple food and beverage outlets, and a fitness center and swimming pool. In addition to airport demand, the hotel is a few miles from Downtown Atlanta’s fast-growing business and travel scene as well as Georgia International Convention Center, Delta World Headquarters, and Porsche’s North American Headquarters. The hotel was recently renovated.

MSD Partners, L.P. To Acquire Boca Raton Resort & Club

MSD Partners, L.P. has entered into a definitive agreement to acquire the Boca Raton Resort & Club from an affiliate of Blackstone. The resort destination and private club was built in 1926 and today has 1,047 rooms across 337 acres. Its amenities include two 18-hole golf courses, a 50,000-square-foot spa, seven swimming pools, 30 tennis courts, a full-service 32-slip marina, 13 restaurants and bars, and 200,000 square feet of meeting space. The property was the beneficiary of more than $300 million in investment under Blackstone’s stewardship. Hilton will continue to manage the property under the Waldorf Astoria Hotels & Resorts brand.

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Chartres Lodging Secures Financing for Dr. Wilkinson’s Hot Springs Resort

RobertDouglas advised The Chartres Lodging Group in securing acquisition and redevelopment financing for its purchase of Dr. Wilkinson’s Hot Springs Resort in Downtown Calistoga, California. Chartres Lodging is a San Francisco-based hotel investment company with expertise in executing value-add hotel transformations. The floating-rate financing was provided by a leading alternative credit manager focused on high-quality, floating-rate debt.

Ogunquit River Inn Joins Ascend Hotel Collection

The newly renovated Ogunquit River Inn is the latest hotel to join the Ascend Hotel Collection by Choice Hotels International, a portfolio of boutique and historic hotels and resorts that reflect their surrounding community. Located just outside of Portland, Maine, the waterfront town of Ogunquit is home to the Rachel Carson Wildlife Preserve. The Ogunquit River Inn’s central location provides access to local beaches and downtown dining, shopping, and entertainment, such as Marginal Way, Kittery Outlet Mall, Wonder Mountain Fun Park, and more.