Investment to accelerate growth in new and existing markets
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The property is located in Chesterfield, Michigan and is occupied under two separate triple-net leases with new 10-year terms. The site was recently constructed and both the MOD Pizza and Del Taco portions are structurally independent.
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IHG expects the first avid hotels locations to begin construction in early 2018, and the first hotel is anticipated to open in early 2019.
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Global Franchise Group acquires leading pizza franchisor increasing GFG’s system wide sales to almost $1 billion and expanding the company’s footprint to more than 1,500 stores worldwide
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A mix of new regional and national restaurants and entertainment options are slated to open beginning this week and throughout 2018, including rise no 3, B&B Butchers & Restaurant, City Works Eatery & Pour House, Crú Food and Wine Bar, Doc B’s Fresh Kitchen, Fixe, Luna Grill, Malai Kitchen, Mesero, Twigs Bistro and Martini Bar, and entertainment options; AMC Theatres® and Pinstripes.
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Sbarro partners with Horeca Band Group to open at least 300 restaurants in the next 10 years
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New American Comfort Food Restaurant to Open in Union, KY in October
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Chesapeake Lodging Trust (NYSE:CHSP) announced today that it has entered into a management agreement with Hilton (NYSE:HLT) to rebrand its previous 613-room Marriott hotel, located in Denver, Colorado, to the Hilton Denver City Center.
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Apple Hospitality REIT, Inc. (NYSE: APLE) yesterday announced that it has closed on the previously announced acquisition of the newly-constructed, dual-branded Hilton Garden Inn and Home2 Suites by Hilton property in Birmingham, Alabama, with a combined total of 210 rooms, for a purchase price of approximately $38.4 million, or $183,000 per key.
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Mandarin Oriental Hotel Group has announced that it will manage a luxury hotel project in the heart of Beijing, that is expected to open in 2018. Located in a traditional hutong quarter, close to Tiananmen Square, the hotel will provide guests with a rare opportunity to experience luxury living in traditional and authentic Beijing surroundings.
Source: New feed