Unveils LEGO Model of New Nashville Hotel
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Development deal inked to bring two new Dickey’s locations to Amarillo and one in Dumas
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DiamondRock Hospitality Company (NYSE: DRH) announced today that it completed the sale of the 169-room Hilton Garden Inn Chelsea / New York City for $65 million to an affiliate of a China-based entity. The sale price represents a 13.5x multiple on the Hotel’s adjusted earnings before interest, taxes, depreciation and amortization.
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The L-shaped, 21-story building being developed by Atlanta-based North Point Hospitality will contain an AC Hotels by Marriott that will occupy 209 rooms in one wing and a combined SpringHill Suites by Marriott and Residence Inn by Marriott in the adjoining wing with 125 rooms and 136 rooms, respectively.
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Desroches Island Developments Limited and Four Seasons Hotels and Resorts today announced that Four Seasons will manage the only resort offering on the remote tropical island of Desroches in the Seychelles. After undergoing extensive renovations, the existing property will re-open in 2017 as Four Seasons Resort Seychelles at Desroches Island.
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From the Africa Hotel Investment Forum in Togo, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced that it will introduce its Four Points by Sheraton brand in Tanzania with the signing of Four Points By Sheraton Arusha and Four Points by Sheraton Dar es Salaam.
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The recently renovated hotel includes 510 guestrooms and is located in downtown San Jose, CA, one of Silicon Valley’s strongest lodging markets. The acquisition price was $154 million ($302,000 per key) and has been financed with $88 million of senior debt.
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Closes Out First Wave of Franchise Commitments Since Opening California for Franchise Sales in January of 2013
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Cantina restaurant with a distinctly Vegas experience to open on Harmon Corner on Las Vegas Strip
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The hotel’s exterior façade, 839 guestrooms and suites, and public areas including a 280,000-gallon lobby aquarium will be re-conceptualized, and a destination pool deck with two new pools will be added. Two new restaurants by celebrity chef Masaharu Morimoto will be created exclusively for the hotel.
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