The MGM Grand Conference Center is adding 250,000 square feet for a total of more than 850,000 square feet.
Source: New feed

JLL’s Hotels & Hospitality Group announced that the firm arranged the sale of the Pacific Edge Hotel on behalf of a joint venture owned by certain affiliated entities of Westport Capital Partners, LLC. Highgate, in a joint venture with Morgan Stanley Real Estate Investing, purchased the 109-key property for $57.5 million.
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Located steps away from five miles of sandy beach, the relaxing Kohea Kai Resort Maui is a 26-room boutique hotel featuring soothing ocean views, outdoor pool and hot tub, open-air rooftop lanai, and serene spacious suites.
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Adults-only premium properties being renovated, renamed TRS Hotels
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Six Senses Hotels Resorts Spas announced the latest addition to their portfolio, Six Senses Ibiza. Set to open in 2020, the resort is tucked away on the peaceful northern tip of Ibiza in the crystalline Cala Xarraca Bay.
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Hilton (NYSE: HLT) has signed a franchise agreement with Castlebridge Hotels Birmingham Airport Limited, a wholly owned subsidiary of Wylam Investments, to open a Hilton Garden Inn hotel at Birmingham Airport.
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Several ultra-luxury hotel brands are bidding to take over the management contract of the current Trump International Hotel & Tower in Toronto, including a reflagging of the property, according to Reuters.
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Jamba, Inc. (NASDAQ:JMBA), announced today, current franchisee, SuSu Hospitality Group, LLC, has acquired 13 Company-owned stores and signed a 10-unit development agreement, to nearly double Jamba’s footprint in the Chicago market.
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La Quinta Holdings Inc. (NYSE: LQ) announced the completion of an extensive renovation to the La Quinta Inn & Suites – Chicago Downtown located at One South Franklin in the heart of Chicago’s financial and theatre district, nearby many of the city’s top attractions. The 239-room hotel now has a completely new interior.
Source: New feed

The sale price of $118.0 million reflects a 25.2x EBITDA multiple and a 3.3% net operating income capitalization rate.
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