This roundup features the latest hotel transactions in the U.S. hotel industry.
Kimpton Hotel Vintage Seattle Downtown
Rooms: 125
Location: Seattle
Price, Including Debt: $33.7 million
Price Per Room: $269,600
Buyer: Pacifica Hotels
Seller: Pebblebrook Hotel Trust
Date of Transaction: May 31, 2023
Takeaway: Pacifica plans to renovate the hotel and refresh all 125 guestrooms as well as the restaurant and lobby. The hotel will remain Kimpton operated.
Presidents' Quarters Inn
Rooms: 19
Location: Savannah, Georgia
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Procaccianti Companies
Seller: Kim King Associates
Date of Transaction: June 1, 2023
Takeaway: Procaccianti Companies plans to reposition the hotel as Sabal House Savannah. Once complete, the hotel will comprise of 20 luxury rooms and suites from the original 150-year-old historic inn combined with 42 additional rooms from a new construction building connected through an outside courtyard that will link the two properties. The hotel will be managed by TPG Hotels & Resorts.
Senza Hotel
Rooms: 48
Location: Napa Valley, California
Price, Including Debt: $38 million
Price Per Room: $791,667
Buyer: Cienda Partners and Pendant Capital
Seller: Hall Group
Date of Transaction: May 30, 2023
Takeaway: New ownership is considering was to activate and renovate the common areas of the hotel as well as expand its food-and-beverage offerings.
SpringHill Suites by Marriott Galveston Island
Rooms: 74
Location: Galveston, Texas
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: PWZ Capital Group
Seller: Omkar Group Galveston
Date of Transaction: June 12, 2023
Takeaway: The hotel is near many tourism and leisure attractions, including beaches, Port of Galveston Cruise Terminal, Pleasure Pier, Moody Gardens, Galveston Island Convention Center and Schlitterbahn Galveston Island Waterpark. Price of the sale was not disclosed.