Redhill Hospitality has acquired the freehold going concern interest in Tenterfield’s Best Western Henry Parkes Motel, highlighting the continued investor interest in quality motels in strategic locations.
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The hotel will be a part of the new center that measures 270,000 square meter along with parking spaces, restaurants, and a filling station amongst others.
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The property is located in a strong retail corridor in Florida and is under a triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.
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Weekly Hotel Industry Asia Pacific News Roundup from HVS
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The 243-key Radisson Resort & Spa Hua Hin will soon become the Group's 6th property in Thailand when it opens in February 2023. The resort is nestled directly on Thailand's golden gulf coast, a 2.5 hours' drive from Bangkok, offering 243 rooms and suites, all with balconies overlooking stunning views of the sea.
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Extended Stay America celebrated the groundbreaking of the Extended Stay America Premier Suites Duncan property located in Duncan, South Carolina. The franchised property is being developed and managed by VMV Capital and is located off I-85 in Spartanburg County between Greenville and Spartanburg.
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Through this alliance, Iberostar will retain 100% ownership, preserving its autonomy and values. Up to 70 hotels (24.3k rooms) will be added to IHG’s system under the Iberostar Beachfront Resorts brand, which will become the 18th brand for IHG.
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The INNSiDE Noto and INNSiDE Cala Rossa make it 4 hotel projects for the company in Sicily
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CHICAGO (November 21, 2022) — Hyatt Hotels Corporation (NYSE: H) announced today the official opening of EPISODE Hsinchu, marking the first hotel within the JdV by Hyatt portfolio in Taiwan and…
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The hotel is set to be part of the first tower in the $1.7 billion La Pelago project – a lifestyle resort and destination within the Budds Beach precinct.
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