Suchad Chiaranussati, managing director of SC Capital Partners Group, spends some $1 billion a year snapping up hotel assets. But ask him where he would put his money next, and what’s his answer? Pet hotels.
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Year-to-date, the group has added 33 hotels and more than 6,400 rooms to its pipeline, and 14 new hotels with almost 2,700 rooms to operations.
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Claiming his personal brand is worth billions, real estate mogul and Republican presidential nominee Donald Trump has put his name on everything over the years, from hotels to neckties. That’s about to change with Trump’s new line of lifestyle hotels, which will not bear the Trump name.
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The two properties are an Olive Garden restaurant in Pembroke Pines, Florida and a Bahama Breeze restaurant in Tampa, Florida. The restaurants are occupied under individual triple-net leases with approximately 14 years of weighted average term remaining. The sale is the result of an unsolicited offer at a cash cap rate of 4.75%, exclusive of transaction costs.
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Basketball Hall-of-Famer to also Serve as Brand’s Global Spokesperson
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Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality net leased restaurant properties, is pleased to announce the acquisition of a Dairy Queen restaurant in Tulsa, Oklahoma for $2.6 million.
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Hilton Worldwide Holdings Inc. (NYSE: HLT), HNA Group and Blackstone (NYSE: BX) announced today that HNA will acquire an approximate 25 percent equity interest in Hilton from affiliates of Blackstone, establishing a long-term strategic investment in Hilton and Hilton’s planned spin-offs of Park Hotels & Resorts and Hilton Grand Vacations.
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Developed by Epelboim Development Group, the $33 million, 190-room EVEN Hotel Miami Airport is the brand’s first signing in the southeastern United States.
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Miami Grill has further solidified its expansion into the global marketplace with the recent formation of Miami Grill International, Inc., and the appointment of International entrepreneur, Stephen Austin Saldanha as its Chairman and Chief Executive Officer.
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Atelier de Hoteles’ business plan involves the opening of five thousand rooms within the 20 hotels to be built in the most important cities and leisure destinations in Mexico.
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