This roundup features the latest hotel transactions in the U.S. hotel industry.
Residence Inn by Marriott Lakewood, Colorado
Rooms: 102
Location: Lakewood, Colorado
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Five Senses Hospitality
Seller: N/A
Date of Transaction: June 1, 2021
Takeaway: The acquisition is a joint venture with Bedford Lodging, a Dallas-based hotel development company that Five Senses Hospitality has an exclusive partnership to managed the day-to-day operations of its properties. The seller was represented by Hodges Ward Elliott.
Courtyard by Marriott Lakewood, Colorado
Rooms: 90
Location: Lakewood, Colorado
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Five Senses Hospitality
Seller: N/A
Date of Transaction: June 1, 2021
Takeaway: The hotel is adjacent to the Residence Inn that Five Senses acquired.
Best Western Plus Regency Park
Rooms: 63
Location: Walker, Louisiana
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: N/A
Seller: Mumford Company
Date of Transaction: May 20, 2021
Takeaway: The hotel was sold at asking price and closed in less than 90 days. It is one of three in a portfolio sale.
Sleep Inn & Suites Evergreen, Alabama
Rooms: 56
Location: Evergreen, Alabama
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: N/A
Seller: Mumford Company
Date of Transaction: May 20, 2021
Takeaway: The deal closed in less than 100 days. It is part of the three-hotel portfolio sale.
Holiday Inn Express & Suites Jackson — Flowood, Mississippi
Rooms: 100
Location: Flowood, Mississippi
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: N/A
Seller: Mumford Company
Date of Transaction: May 20, 2021
Takeaway: This part of the three-hotel portfolio sale and needed extensive cooperation between the buyer and seller for the assumption of the existing commercial mortgage-backed securities debt and associated escrow funds, according to the news release.
Bethany Beach Ocean Suites Residence Inn
Rooms: 112
Location: Bethany Beach, Delaware
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: EOS Acquisitions, LLC
Seller: Boardwalk Group LLC and Bethany Beach Ocean Inn, LLC
Date of Transaction: May 20, 2021
Takeaway: Savills represented the sellers.
Holiday Inn Express Bethany Beach
Rooms: 100
Location: Bethany Beach, Delaware
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: EOS Acquisitions, LLC
Seller: Boardwalk Group LLC and Bethany Beach Ocean Inn, LLC
Date of Transaction: May 20, 2021
Takeaway: Savills represented the sellers.
Five Former Hawthorne-Branded Suites Hotels
Rooms: 430
Location: N/A
Price, Including Debt: $22.3 million
Price Per Room: $51,860
Buyer: N/A
Seller: Service Properties Trust
Date of Transaction: May 21, 2020
Takeaway: The proceeds from the sale will be used for general business purposes.
Hyatt Regency Fairfax
Rooms: 316
Location: Fairfax, Virginia
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Driftwood Capital
Seller: N/A
Date of Transaction: May 14, 2021
Takeaway: The hotel will be managed by Driftwood Capital's sister company, Driftwood Hospitality Management. It will be rebranded as a full-service Hilton hotel.
MGM Springfield
Rooms: N/A
Location: Springfield, Massachusetts
Price, Including Debt: $400 million
Price Per Room: N/A
Buyer: MGM Growth Properties
Seller: MGM Resorts International
Date of Transaction: May 11, 2021
Takeaway: MGM Resorts will lease the property from MGP. The sale is expected to close in the fourth quarter of 2021.