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Arriba Capital closes $52.5M construction loan for Houston hotel

Hotel Business

Arriba Capital recently closed a $52.5 million ground-up construction loan for a Holiday Inn Express and Staybridge Suites dual-brand property in the central business district (CBD) of Houston. The post Arriba Capital closes $52.5M construction loan for Houston hotel appeared first on hotelbusiness.com.

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JLL closes $55M sale of six Hyatt Place hotels

Hotel Business

JLL ’s Hotels & Hospitality Group has closed the $55-million sale of six Hyatt Place-branded select-service hotels totaling 754-keys across the Southeast, Texas and Kansas. Each hotel was constructed between 1995 and 1997 and features 126 guestrooms, except for the hotel in Georgia which has 124 rooms.

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Quest opens new-build hotel in billion-dollar Sutherland Shire precinct

Hotel Management

Located within Woolooware Bay Town Centre – a precinct that includes a shopping centre, waterfront parklands, a shared pedestrian/cycle path, outdoor fitness zones and children’s playground – Quest Woolooware Bay is close to the ocean, golf courses and PointsBet Stadium.

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Driftwood Capital secures $60.5M for Missouri Margaritaville

Hotel Business

To accommodate strong demand and position the resort for future growth, we recently completed the construction of 26 additional guestrooms. The resort features comprehensive leisure amenities including its marina, golf course, indoor waterpark, spa, seven dining outlets and more than 75,000 sq. of indoor meeting space.

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Apple Hospitality REIT acquires Las Vegas SpringHill Suites

Hotel Business

The property is located near the gaming, dining and entertainment venues of the Las Vegas Strip, as well as Allegiant Stadium, T-Mobile Arena, MGM Grand Garden Arena and Las Vegas Ballpark. million with an expected 260 rooms, which Apple Hospitality anticipates acquiring in mid-2024 following completion of construction.

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First new-build Sonesta ES Suites planned for Florida

Hotel Business

Sonesta International Hotels Corporation has revealed plans for the construction of a new Sonesta ES Suites in Port Charlotte, FL. The new property, expected to open in spring 2025, marks the first Sonesta ES Suites brand project developed from the ground up. “We

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Exclusive: strong start for WA’s first Courtyard by Marriott hotel as healthcare precinct drives occupancies

Hotel Management

In the hotel’s first week, even without a heavy marketing campaign, occupancy was circa 60% with one night over the weekend hitting 80% occupancy due to compression on the CBD, thanks to the hotel’s close proximity, Hunt shared. Government infrastructure is taking a lot of subcontractors and a lot of fuel out of the construction industry.

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