Login

US Hotel Deals: MCR Buys DoubleTree Suites Minneapolis

Other Transactions Include Hotel Martinique on Broadway; Seven Springs Resort; and More
MCR purchased the DoubleTree Suites by Hilton Minneapolis, shown here. (CoStar)
MCR purchased the DoubleTree Suites by Hilton Minneapolis, shown here. (CoStar)
Hotel News Now
December 21, 2021 | 1:45 P.M.

This roundup features the latest hotel transactions in the U.S. hotel industry.

DoubleTree Suites by Hilton Minneapolis Downtown

Rooms: 229
Location: Minneapolis, Minnesota
Price, Including Debt: $29.8 million
Price Per Room: $129,913
Buyer: MCR
Date of Transaction: Dec. 16, 2021
Takeaway: This is the third property in the Minneapolis metropolitan area over the past 12 months that MCR has purchased.

Seven Springs Mountain Resort

Location: Seven Springs, Pennsylvania
Price, Including Debt: $125 million
Buyer: Vail Resorts
Date of Transaction: Entered into an agreement on Dec. 8, 2021.
Takeaway: The acquisition also includes Hidden Valley Resort and the operations of Laurel Mountain Ski area. The purchase price is subject to certain adjustments.

Peachtree Hotel Group purchased the AC Hotel Miamia Aventura, shown here. (CoStar)

AC Hotel Miami Aventura

Rooms: 233
Location: Aventura, Florida
Buyer: Peachtree Hotel Group
Date of Transaction: Dec. 7, 2021
Takeaway: Peachtree Hospitality Management will operate the hotel.

Aloft Miami Aventura

Rooms: 207
Location: Aventura, California
Buyer: Peachtree Hotel Group
Date of Transaction: Dec. 7, 2021
Takeaway: Peachtree Hospitality Management will operate the hotel.

Pebblebrook Hotel Trust purchased the Estancia La Jolla Hotel in La Jolla, California. (CoStar)

Estancia La Jolla Hotel & Spa

Rooms: 210
Location: La Jolla, California
Price, Including Debt: $108 million
Price Per Room: $514,285
Buyer: Pebblebrook Hotel Trust
Date of Transaction: Dec. 1, 2021
Takeaway: Pebblebrook retained Noble House Hotels & Resorts to manage the hotel.

Hotel Martinique New York on Broadway

Rooms: 531
Location: New York City
Price, Including Debt: $55.5 million
Price Per Room: $104,519
Seller: Herald Hotel Associates
Buyer: Burnett Equities
Date of Transaction: Nov. 23, 2021
Takeaway: The new ownership plans to invest another $55 million to redevelop the hotel.

Return to the Hotel News Now home page

IN THIS ARTICLE