FCPT funded the acquisition with cash on hand. The restaurants are 100% occupied under triple-net leases with 12 years of term remaining, and the transaction closed at a going-in cash cap rate of 6.5%, exclusive of transaction costs. The properties are well-located within their respective communities and have strong rent coverages.
Source: New feed
Complementing its two existing corporate owned WoodSpring Suites hotels in the region, Gold Coast has signed on to build the brand’s recently launched prototype in Naples, Miramar, Tamarac and West Palm Beach.
Source: New feed
CHICAGO (September 19, 2016) – Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has appointed its longtime executive Jim Chu to the newly created position of global head of select…
Source: New feed
Hotel in the Heart of the Sport’s Capital of Texas along I-25 and SH45
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RIU has completed the purchase of the historic Gresham Hotel on O’Connell Street, one of the most famous in Dublin, for €92 million. The hotel occupies a majestic building approaching its 200th anniversary and, thanks to a recent renovation, it offers the best of the Irish capital city’s tradition and history, with modern and up-to-date services.
Source: New feed
Auberge Resorts Collection today announced that the company will manage Solage, a contemporary resort located in the heart of California wine country, following the property’s recent acquisition by a joint venture formed between Flynn Properties and Auberge Resorts Collection.
Source: New feed
G6 Hospitality yesterday announced the signing of three new franchise agreements with Latina Promohoteles, S.A. de C.V., to build three new Hotel 6 properties in the cities of Querétaro, León and Irapuato.
Source: New feed
Chanticleer Holdings, Inc. (NASDAQ: HOTR) today announced that its burger concept, American Burger Co., has signed a lease and expects to open a new location at Prosperity Village Square in Charlotte, North Carolina this coming spring.
Source: New feed
Shinola’s play toward an articulated neo-urbanized lifestyle is about to take residence. Today, the firm revealed it will open a hotel in downtown Detroit.
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Morgans Hotel Group Co. (MHGC) yesterday announced that it has received a letter dated September 13, 2016 from the group identified in Morgans’ proxy materials as ‘Bidder V.’ This letter reconfirms the interest of Bidder V in pursuing an acquisition of the common stock of Morgans for $2.75 per share.
Source: New feed