The transaction was priced at a 5.75% cap rate on rent today, exclusive of transaction costs. The sale is the result of an unsolicited offer from a local buyer, Lineberry Properties, Inc.
Source: New feed
IHG Hotels & Resort has signed an an agreement with Immohold Hospitality, to introduce the InterContinental Hotels and Resorts brand in Rabat.
Source: New feed
Signs nine franchise agreements to develop 23 new restaurants
Source: New feed
Pebblebrook Hotel Trust (NYSE: PEB) today announced that it had executed a contract to sell the 416-room Sir Francis Drake in San Francisco, CA to a third party, which the Company expects will generate $157.6 million of proceeds after customary closing costs.
Source: New feed
Deutsche Hospitality and Huazhu are planning a further hotel project in China in the form of a new Steigenberger Hotel in Kunming, a location which is nicknamed the 'City of Eternal Spring' because of its temperate climate. The Steigenberger Hotel in Kunming is planned and will be operated by Huazhu, the shareholder of Deutsche Hospitality.
Source: New feed
Haidilao announced today that it will be ready to open its new Frisco location at the beginning of March 2021. The 7,103 SF restaurant is located at 9244 Prestmont Place inside the new Frisco Oasis Development – east of Preston Road, across from the 99 Ranch Market complex – a shopping center already filled with popular Asian retail and eateries.
Source: New feed
Franchisees and Corporate Leadership Align to Maximize Growth and Market Share in Years Ahead.
Source: New feed
This spring, the first opening is Virgin Hotels Las Vegas, followed by Virgin Hotels New Orleans this summer and Virgin Hotels New York City this fall. Virgin Hotels Edinburgh and Miami are planned for 2022 and beyond, with numerous hotel management signings announced before year-end.
Source: New feed
Riko's Pizza announces the addition of a new franchisee in Jupiter, Florida. The newest franchisee, Mike Christie, grew up in Fairfield County, Connecticut where the original Riko's Pizza was born.
Source: New feed
CHICAGO (February 1, 2021) – Hyatt Hotels Corporation (NYSE: H) announced today the opening of Hyatt Regency Ningbo Hangzhou Bay in Ningbo, China. Beside the Hangzhou Bay Bridge, which is the…
Source: New feed