ummit Hotel Properties, Inc. (NYSE: INN) and Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced that the companies have executed a definitive agreement for an affiliate of Summit to acquire an 812-guestroom, five-hotel portfolio from Xenia for a total purchase price of $163 million, or approximately $201,000 per key.
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Expansion includes an adult-only all-suite tower that will feature an additional 159 suites, a lush new saltwater pool, two new restaurant concepts with global cuisine, a luxurious hotel spa, salon, and fitness center
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US Foods announced on Friday that it has agreed to acquire F. Christiana, a broadline distributor of food and food-related products concentrating on the important center-of-the-plate categories as well as dairy and dry goods.
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Marriott International Embarks on Global Independent Hotel Expansion as More Consumers and Owners Seek Unique Experiences Powered by Marriott
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John Fareed Hospitality Consulting LLC and Hotel & Club Associates of Virginia have merged to form hospitality advisory firm Fareed & Cummings LLC, according to principals John Fareed and Michael Cummings. The new company has joined Horwath HTL, the world’s largest and most experienced hospitality-consulting brand with forty-five offices in thirty-nine countries.
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Locations in Andover and Burlington coming soon
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Choice Hotels International, Inc. (NYSE: CHH has signed an agreement with franchise partner Stratus Development Partners, LLC of Newport Beach, CA, to develop a new Cambria Hotel in Napa, California. The four-story, 90-room Cambria property will be located at 320 Soscol Avenue and the main thoroughfare into downtown Napa, the Silverado Trail and Napa Valley.
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Built in 1910, the Oregon Pioneer Building – originally named The Railway Express Building – was the city’s iconic first concrete building, which became known as Project Cinderella when it was revived in 1962, serving as a catalyst to restore historic buildings in downtown.
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Exterior finishes for the 330-room hotel are now visible and the interior will soon follow after the construction project’s official topping out celebration was held today.
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Interstate Hotels & Resorts announces the launch of the Asia Investment Group, becoming the leading Asia practice team with dedicated resources to deliver exceptional hotel management services to Asian owners seeking to invest in hotels in the U.S and Europe.
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