The restaurants are occupied under a triple-net lease with approximately 18 years of remaining term, and the transaction closed at a going-in cash cap rate of 6.6%, exclusive of transaction costs. The properties are above average performers in well-trafficked retail corridors, and the tenant is a growing and profitable franchisee.
Source: New feed

Hollywood actor Brad Pitt is planning to build a new resort with a luxury hotel, villas, a golf course, shops and restaurants in the small resort town of Zablace, just outside Sibenik of the central Dalmatian region, local media report.
Source: New feed

Formerly the InterContinental Tampa, the hotel is currently renovating all of its guestsrooms, suites, corridors and lobby, with plans to complete by November 2016.
Source: New feed

H.I.G. Capital, LLC announced today that it has agreed to sell the 378 bedroom DoubleTree by Hilton Hotel London – Docklands Riverside in London to a Chinese investor group. Terms were not disclosed.
Source: New feed

New Dickey’s locations are slated to open in Traverse City and Kent County
Source: New feed

Best Western Hotels & Resorts celebrated its second Vīb groundbreaking yesterday in Springfield, Missouri. Ron Pohl, Senior Vice President, Brand Management for Best Western Hotels & Resorts, and Terry Porter, Chairman, Board of Directors, gathered with Springfield Mayor, Robert Stephens and Elliott Lodging’s Gordon Elliott for Thursday’s ceremony.
Source: New feed

Ashford Hospitality Trust, Inc. (NYSE: AHT) announced yesterday that it has completed the sale of the 124-room Hampton Inn & Suites in Gainesville, FL for approximately $27 million in cash ($218,000 per key) to Key International.
Source: New feed

Founder of Primavera Dr. Fred Hu to Become Yum China’s Non-Executive Chairman – Spinoff on Track to Be Completed October 31, 2016
Source: New feed

FelCor Lodging Trust Incorporated (NYSE: FCH) yesterday announced that it has sold the 383-room Holiday Inn Nashville Airport to an affiliate of Memphis-based Fairwood Capital, LLC for gross proceeds of $31.6 million.
Source: New feed

Carey Watermark Investors 2 Incorporated (CWI 2) announced that it has acquired the Renaissance Atlanta Midtown Hotel. The 21-story, full-service property includes 304 guestrooms and is located in the diverse and growing Midtown submarket of Atlanta, Georgia.
Source: New feed