Pebblebrook Hotel Trust (NYSE: PEB) today announced that it has executed a purchase and sale agreement to sell the 618-room, upper upscale, full-service Manhattan NYC in New York, New York for $217.5 million to a third party.
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Scandic takes over operation of the venerable Ambassadeur Hotel and the Globus Hotel with almost 300 rooms
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Through 3rd Quarter 2016, Hotel Brokers International has equaled their sales of 2015 and expect by year end to exceed 2015 totals by as much as 33 percent. The values of the hotels are also up by nearly 45 percent.
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By December 2016, the brand will add two independent hotels to its portfolio in Argentina’s most sought-after regions. Arelauquen Lodge, A Tribute Portfolio Hotel, will be debut in Patagonia, near the world’s end, with vast landscapes of lakes and mountains, while Auberge du Vin, A Tribute Portfolio Hotel, will be located in the heart of Argentina’s wine country, where some of the world’s best vino is produced.
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Choice Hotels International, Inc. (NYSE: CHH) announced it has signed an agreement with franchise partner Villa Developers & Investments, LLC, to develop a new Cambria hotel & suites in San Jose, Calif. The 11-story, 173-room Cambria property will be located at 2850 Stevens Creek Blvd.
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The building is located in the very center of Brașov on the north edge of the ancient and attractive old town, and in proximity to the retail commercial and administrative center. The property with 105 rooms is scheduled to welcome the first guests in spring of 2018.
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The new franchisee, Volunteer Chicken LLC, recently secured the rights to open 10 new restaurants with financial backing provided by American Development Partners (ADP). New markets slated for development include multiple restaurants throughout Nashville, Knoxville, and Chattanooga, TN, with another 10-restaurant deal expected to follow in 2021.
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Concord Hospitality Enterprises Company announced today that it will open a new hotel under the Marriott Autograph Collection brand at the former City Hall site in West Palm Beach, Fla. The 200-room hotel is the cornerstone of a mixed-use project that has received Concept Plan approval from the City of West Palm Beach. It is slated to break ground in 2017.
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The sale price of $50.1 million reflects an 11.6x EBITDA multiple and a 7.4% net operating income capitalization rate.
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CHICAGO (November 3, 2016) – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported third quarter 2016 financial results. Net income attributable to Hyatt was $62 million, or…
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