For the trailing twelve months ended March 31, 2023, the hotel’s net operating income was $1.6 million, and its Hotel EBITDA was $2.1 million, with the $63.3 million sales price reflecting a 30.7x EBITDA multiple and a 2.5% net operating income capitalization rate.
Source: New feed
Both signings will be a joint venture between real estate fund manager Frogmore and C1 Capital Partners.
Source: New feed
Accor plans to open three properties in the upcoming project by Rua Al Madinah Holding Company in Madinah, Kingdom of Saudi Arabia. The project includes a 142-key Fairmont hotel and 120 Fairmont branded residences, in addition to a 466-key Swissôtel and a 328-key Novotel.
Source: New feed
The Company expects to commence operations at the Condor Hotel and Trinity on or about July 1, 2023. In total, these new properties will add 214 units to the Company’s portfolio of short-stay hotel rooms.
Source: New feed
Four Seasons Private Residences Las Vegas will be set within the MacDonald Highlands community, a private 11-acre (4.5 hectare) oasis in Henderson, Nevada and minutes from the world-class entertainment, fine dining and upscale shopping of Las Vegas.
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The hotel will be located in the region of Arxan, often referred to as the 'Chinese Alps', in the northeast of Inner Mongolia.
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976‑room hotel overlooking Mercedes‑Benz Stadium will feature six signature food and beverage experiences, spa and beauty bar
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dusitD2 Samyan Bangkok, ASAI Bangkok Sathorn, and ASAI Kyoto Shijo to open within the next month.
Source: New feed
The group has announced 4 projects during Fitcuba, Cuba's international tourism fair held last week. The new Meliá Trinidad Peninsula and Sol Caribe Beach are also due to open this season on the island.
Source: New feed
Sotherly Hotels Inc. (NASDAQ: SOHO) on Friday announced that the Company has executed a $10.0 million secured loan with Citi Real Estate Funding Inc., collateralized by a first mortgage on the DoubleTree by Hilton Laurel in Laurel, Maryland.
Source: New feed