Morgans Hotel Group Co. (MHGC) yesterday announced that it has received a letter dated September 13, 2016 from the group identified in Morgans’ proxy materials as ‘Bidder V.’ This letter reconfirms the interest of Bidder V in pursuing an acquisition of the common stock of Morgans for $2.75 per share.
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The restaurants are 100% occupied under new triple-net leases with terms of 20 years, and the transaction closed at a going-in cash cap rate consistent with previously announced transactions. KBP Foods, a 360 unit franchisee, has committed to renovate the properties in the next few years.
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Signs franchise development agreements with industry veterans to expand presence in Georgia, Texas and Virginia
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If you own or operate a hotel for any significant length of time, you will likely have to replace some of your building’s core MEP and HVAC equipment. This article outlines project management strategies for successful building equipment projects.
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Hyatt Hotels Corporation (NYSE: H) today announced three hotels are transitioning to the Hyatt Centric brand from the Hyatt brand, accelerating the Hyatt Centric brand’s growth. The three hotels include Hyatt Centric French Quarter New Orleans, Hyatt Centric Times Square New York and Hyatt Centric Key West Resort & Spa.
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Hickory Street Capital has announced plans for Hotel Zachary, a new boutique, lifestyle hotel located in the heart of Chicago’s Lakeview neighborhood. Situated at the corner of Clark and Addison Streets adjacent to the landmark historic Wrigley Field, Hotel Zachary will be a community gathering place that taps into the distinctive character of Wrigleyville.
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CHICAGO (September 14, 2016) – Hyatt Hotels Corporation (NYSE: H) today announced three hotels are transitioning to the Hyatt Centric brand from the Hyatt brand, accelerating the Hyatt Centric…
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Acquisition Adds Approximately 1,000 Franchise Hotel Agreements Nationwide – Combined Company to Operate or Franchise over 73,000 rooms
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WoodSpring Hotels has entered into an agreement with West77 Partners to develop up to 25 hotels throughout the greater San Francisco area.
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he 350,000- square- foot property features a 17-story hotel tower, making it the tallest building in Anne Arundel County, with 310 guest rooms, an event center, meeting spaces, new dining options, and a day spa/salon.
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