Weekly Hotel Industry Asia Pacific News Roundup from from HVS
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HVS Asia Pacific Hospitality Newsletter – Week Ending 10 June 2022
June 13, 2022
Choice Hotels Acquires Radisson Hotel Group Americas for $675 Million
June 13, 2022
Transaction adds nine brands, 624 hotels and over 68,000 rooms to Choice Hotels portfolio
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The Siegel Group Acquires Four Hotels in Chattanooga, Cleveland and Knoxville, TN with a Fifth in Acworth, GA
June 13, 2022
The Siegel Group announced today that it had acquired a portfolio of five extended-stay properties previously operated under the Hamilton Inn Extended-Stay brand for $29 million.
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Scandic and Pandox Extend Lease Agreements with Unchanged Terms for 15 Hotels
June 10, 2022
Scandic and property owner Pandox have agreed to extend the leases for 15 hotels in the Nordic region, of which 12 are in Sweden, two in Finland and one in Norway. In addition, the agreement for the Marina Congress Center in Helsinki has been extended. The agreement includes a total of 3,598 hotel rooms.
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FCPT Announces Disposition of an Olive Garden Restaurant Property for $6.3 Million
June 10, 2022
The property is located in Florida and is operated by Darden Restaurants. The transaction was priced at a 4.5% cap rate on current rent, exclusive of transaction costs, and will result in a gain to FCPT.
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Cambria Hotels Breaks Ground on a New 185 Room Hotel In Lake Placid, New York
June 10, 2022
Cambria Hotels, a brand franchised by Choice Hotels International, Inc. (NYSE: CHH), officially started construction on the Cambria Hotel Lake Placid – Lakeside Resort in Lake Placid, New York on June 9, 2022. Expected to open in fall 2023, the new 185-room Cambria will be the brand's fourth hotel in New York.
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Kasada Acquires the Umubano Hotel in Kigali, Rwanda
June 9, 2022
The historic building will undergo full refurbishment to re-open as a 100-key Mövenpick hotel in 2025
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Beachview Club Hotel in Jekyll Island, Georgia Refinanced
June 9, 2022
PMZ Realty Capital LLC announced today that it secured $30M in debt and equity for the Beachview Club Hotel, a Tapestry Collection by Hilton property located in Jekyll Island, Georgia. The proceeds will be used to recapitalize and expand the current footprint.
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Hyatt Place Fort Worth/Alliance Town Center Announces Opening
June 9, 2022
CHICAGO (June 9, 2022) – Hyatt Hotels Corporation (NYSE: H) announced today the opening of Hyatt Place Fort Worth/Alliance Town Center, expanding the Hyatt Place brand’s footprint globally in…
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71 Room Waterfront Hotel in Fort Myers, Florida Sold for $5,500,000
June 8, 2022
DSH Hotel Advisors announced that Dennis S. Hopper, CCIM, Managing Principal and Randy Taylor, Vice President Investments, arranged the sale of the Red Roof Inn in North Fort Myers, FL for $5,500,000 on June 1, 2022.
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