Chesapeake Lodging Trust (NYSE:CHSP announced yesterday that it has closed on the sale of the 122-room Hyatt Herald Square New York and the 185-room Hyatt Place New York Midtown South, both located in New York, New York, for an aggregate sale price of $138.0 million, or approximately $450,000 per key.
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The announcement follows approval of the transaction by Chesapeake’s shareholders at a special meeting of Chesapeake shareholders held on September 10, 2019. Based on Park’s closing stock price as of September 17, 2019, the total transaction value is approximately $2.5 billion, inclusive of transaction costs.
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MGE has entered into a multi-year agreement with JC Hospitality to operate the 60,000-square foot gaming space at the soon to be Virgin Hotels Las Vegas, part of Curio Collection by Hilton, contingent on the successful completion of construction and pending MGE's regulatory approval by the Nevada Gaming Commission.
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Banyan Investment Group today announced that the company completed the acquisition of the 101-room Hotel Indigo Tuscaloosa Downtown in Ala.
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Mandarin Oriental Hotel Group has announced that it will manage a luxury hotel in Nanjing, the capital of Jiangsu Province in China, scheduled to open in 2022.
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New 280-room Hilton Phnom Penh will be located in the Cambodian capital’s central business district
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The property is located in Illinois and is leased to Darden Restaurants, Inc. (NYSE:DRI) under a triple-net lease with over 10 years of term remaining.
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Rosebank is located to the north east of Johannesburg, 4.5km from the Sandton area, and is one of the most popular nodes in the economic capital. The area is connected to the OR Tambo International Airport by the Gautrain, one of the most important mass transportation systems in Africa.
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The sale price of $42.0 million reflects a 17.4x EBITDA multiple and a 5.0% net operating income capitalization rate based on the hotel’s operating performance for 2018.
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Inks Deal for 17 Locations Across Idaho, Montana, Washington, Arizona
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