Scandic and property owner Pandox have agreed to extend the leases for 15 hotels in the Nordic region, of which 12 are in Sweden, two in Finland and one in Norway. In addition, the agreement for the Marina Congress Center in Helsinki has been extended. The agreement includes a total of 3,598 hotel rooms.
Source: New feed
The property is located in Florida and is operated by Darden Restaurants. The transaction was priced at a 4.5% cap rate on current rent, exclusive of transaction costs, and will result in a gain to FCPT.
Source: New feed
Cambria Hotels, a brand franchised by Choice Hotels International, Inc. (NYSE: CHH), officially started construction on the Cambria Hotel Lake Placid – Lakeside Resort in Lake Placid, New York on June 9, 2022. Expected to open in fall 2023, the new 185-room Cambria will be the brand's fourth hotel in New York.
Source: New feed
The historic building will undergo full refurbishment to re-open as a 100-key Mövenpick hotel in 2025
Source: New feed
PMZ Realty Capital LLC announced today that it secured $30M in debt and equity for the Beachview Club Hotel, a Tapestry Collection by Hilton property located in Jekyll Island, Georgia. The proceeds will be used to recapitalize and expand the current footprint.
Source: New feed
CHICAGO (June 9, 2022) – Hyatt Hotels Corporation (NYSE: H) announced today the opening of Hyatt Place Fort Worth/Alliance Town Center, expanding the Hyatt Place brand’s footprint globally in…
Source: New feed
DSH Hotel Advisors announced that Dennis S. Hopper, CCIM, Managing Principal and Randy Taylor, Vice President Investments, arranged the sale of the Red Roof Inn in North Fort Myers, FL for $5,500,000 on June 1, 2022.
Source: New feed
Hilton (NYSE: HLT) has today announced plans to open one of the world’s largest Hampton by Hilton hotels in Vienna. Following a franchise agreement with established partner Primestar Hospitality GmbH, with whom Hilton has a number of franchise agreements in Germany, the new development is scheduled to open in Autumn 2024.
Source: New feed
Franchisee John Cassity will bring Fuzzy’s Taco Shop to Grand Junction, CO and St. George, UT with expansion throughout Utah to follow
Source: New feed
Investors, who are optimistic about the rehabilitation of Israel's incoming tourism industry, are seeking to establish and convert existing buildings to hotels and expand existing buildings or restore them to their original purpose.
Source: New feed