Rotana, announced today at the Arabian & African Hospitality Investment Conference (AHIC) the signing of a new project with Bin Al Sheikh Holding Group, a well-diversified Qatari business conglomerate. The project includes the management of a 400-key Arjaan Hotel Apartments by Rotana and 103-keys under The Residences by Rotana brand.
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Choice Hotels International, Inc.'s (NYSE: CHH) Ascend Hotel Collection recently added four properties to its portfolio of hotels: Haywood Park Hotel in Downtown Asheville, North Carolina; Elevate Hotel at Sierra Blanca Ruidoso in Ruidoso, New Mexico; The Inn at Leonardtown in Leonardtown, Maryland and The Leo Collection Detroit in Lincoln Park, Michigan.
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The Hotel is situated on two acres of urban core and features hotel rooms, one- and two-bedroom suites, a pool, fitness center, business center, and breakfast area. The acquisition closed on August 31, 2021, at a purchase price of $8.9 million.
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Scheduled to open in 2024, the 275-room Hotel Indigo Bandung Dago Pakar will be located in the Dago neighbourhood, in the northern region of Bandung.
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The New York City location at 7 Times Square and the Washington, D.C., location at 100 M Street SE will be in the heart of the city's historic Navy Yard neighborhood.
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With a muddled investment landscape and strong competition for assets, many investors in the Middle East and Africa remain focused on repositioning, capital expenditures and opportunistic purchases.
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Blackstone (NYSE: BX) today announced that Blackstone Real Estate Partners VII L.P. has reached an agreement to sell The Cosmopolitan of Las Vegas for $5.65 billion.
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Four Corners Property Trust (NYSE:FCPT) announced the acquisition of a Buffalo Wild Wings property, a Wells Fargo property, and a Texas Roadhouse property for $5.1 million from Washington Prime Group.
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The property is located in a strong retail corridor in Ohio and is corporate-operated under a triple net lease with approximately five years of term remaining.
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Pebblebrook Hotel Trust (NYSE: PEB) today announced that it acquired the 369-room oceanfront Margaritaville Hollywood Beach Resort in Hollywood, Florida for $270 million from an affiliate of KSL Capital Partners, LLC. The lifestyle resort will continue to be managed by Davidson Hospitality Group.
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