Hotel Development News
January, 4 2017
Perspectives on the New York City Lodging Market
HVS Report - Perspectives on the New York City Lodging Market - By Anne Lloyd-Jones
There is no doubt that New York City is down, but it is important to understand the market fundamentals behind the current trends; specifically, what is going wrong, what is going right, and when the trends will be reversed. Read More
Hotel Development U.K.
Historic Cheltenham Park Hotel to Convert to Doubletree by Hilton
Cheltenham Park Hotel
Following an extensive £4.5m refurbishment the hotel will trade as DoubleTree by Hilton Cheltenham in March 2017. Situated in Charlton Kings, the property will become the first hotel in the Hilton portfolio of brands to open in Cheltenham. Read more
Hotel Transaction Oregon
Trollers Lodge, Depoe Bay, Oregon Sold by Crystal Investment Property, LLC
Joseph P. Kennedy, president of Crystal Investment Property, exclusively represented the Seller in the sale of the Trollers Lodge located in Depoe Bay, Oregon. The new owner is planning capital improvements including renovation of the owners’ quarters and possibly construction of additional rooms. Read more
Hotel Development California
Miramonte Indian Wells Resort & Spa Joins Curio Collection
Miramonte Indian Wells Resort & Spa Joins Curio Collection
Opened in 1960 as the Erawan Garden, the resort operates one of the nation’s most acclaimed spas and treatment facilities. Approaching an extensive multi-million dollar renovation, the 12,000-square-foot Well Spa will offer award-winning services in an intimate environment, and features 13 treatment rooms, seasonal offerings and a courtyard with two private salt water pools. Read more
Hotel Transaction Manhattan
Pebblebrook Hotel Trust Completes Sale of the Manhattan NYC Hotel for $217.5 Million
Pebblebrook Hotel Trust Sells Manhattan NYC Hotel for $217.5 million
The sale price of $217.5 million reflects a 19.9x EBITDA multiple and a 4.1% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel’s 2016 projected operating performance. Read more
Hotel Portfolio Transaction
AccorHotels Restructures Major Lease Portfolio in Australia
AccorHotels announced that it has successfully reached agreement with a wholly-owned subsidiary of the Abu Dhabi Investment Authority to restructure a portfolio of 31 hotels (4,097 rooms) in Australia. Read more
Hotel Development Puerto Rico
El San Juan Hotel in Puerto Rico Joins Curio Collection
After Multi-Million-Dollar Renovation El San Juan Hotel is Set to Open in February 2017 Read more
Rotana Hotels Development Update
Rotana to Add 4,360 More Keys To UAE by 2020
Rotana Hotels to Add 4,360 More Keys To UAE by 2020
2 new Rotana properties - including 6 five-star hotels - to open in Dubai, Abu Dhabi and Ras Al Khaimah within the next four years - USD 1.7 billion estimated total value of new hotels under its management Read more
Hotel Development Texas
Miraval Group to Develop Its First Destination Wellness Resort in Texas
Miraval Group today announced it has acquired the 220-acre Travaasa Austin Resort in the Hill Country of Texas, which it will redevelop and expand into a 120-room destination wellness resort, its first in Texas and the South. Read more

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In Brief...

Asia Pacific Economic Outlook
JLL Presents Asia Pacific Real Estate Investment Outlook For 2017

Hotel Development Kansas
98 Room TRU Hotel by Hilton Announced for Wichita, KS

Hotel Transaction San Francisco
Ritz-Carlton San Francisco Hotel Sold to Carey Watermark Investors

Condo Hotels
In 2017, You’re Likely to Get Hotel Services With Your Condo - Mansion Global

Hotel Development Australia
New $Aud440 Million Luxury Hotel Announced for Surfers Paradise, Queensland, Australia

Hotel Transaction Czech Republic
Hilton Prague Old Town Hotel Sold

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