This roundup features the latest hotel transactions in the U.S. hotel industry.
Avid Memphis Southaven, Mississippi
Rooms: 92
Location: Southaven, Mississippi
Price, Including Debt: $12 million
Price Per Room: $130,434
Buyer: Legendary Capital
Date of Transaction: Oct. 18, 2021
Takeaway: This was an all-cash transaction.
Quality Inn & Suites Franklin, Virginia
Rooms: 77
Location: Franklin, Virginia
Price: N/A
Price Per Room: N/A
Seller: Shreeji, Inc.
Buyer: Maa Khodiyar, LLC
Date of Transaction: Oct. 18, 2021
Takeaway: CAS Hotel Advisors represented the seller.
Homewood Suites Vancouver-Portland
Rooms: 104
Location: Vancouver, Washington
Price: $19.5 million
Price Per Room: $187,212
Seller: Rockbridge
Date of Transaction: Oct. 14, 2021
Takeaway: JLL's Hotels and Hospitality Group closed the sale of the hotel alongside the Homewood Suites Portland Airport.
Homewood Suites Portland Airport
Rooms: 105
Location: Portland, Oregon
Price: $22.7 million
Price Per Room: $216,190
Seller: Rockbridge
Date of Transaction: Oct. 14, 2021
Takeaway: JLL's Hotels and Hospitality Group closed the sale of the hotel alongside the Homewood suites Vancouver-Portland.
Rodeway Inn Holdredge
Rooms: 40
Location: Holdrege, Nebraska
Buyer: Morpho Hotels and Resorts USA LLC
Date of Transaction: Oct. 4, 2021
Takeaway: India-based hospitality firm Morpho Hotels and Resorts India Pvt. Ltd., in partnership with Upjeet Singh Sahota, founded Morpho Hotels and Resorts USA LLC based in New York.
Charleston Place
Rooms: 433
Location: Chareslton, South Carolina
Buyer: Beemok Capital
Date of Transaction: Oct. 1, 2021
Takeaway: Beemok Capital is the family office of local billionaire businessman Ben Navarro. Beemok Hospitality Group will revitalize the hotel and its surrounding complex.
Hyatt Place Amarillo
Rooms: 91
Location: Amarillo, Texas
Buyer: An affiliate of KAMP Hotels, LLC
Seller: NewcrestImage
Date of Transaction: Sept. 30, 2021
Takeaway: The hotel opened in December 2019.
Fort Lauderdale Beach Hotel Portfolio
Rooms: 154
Location: Fort Lauderdale, Florida
Price: $27.3 million
Price Per Room: $177,000
Date of Transaction: Sept. 30, 2021
Takeaway: Lee & Associates South Florida represented the sellers. The portfolio consists of turn-key independent hotels throughout six buildings and one vacant lot.
Sheraton Old San Juan
Rooms: 240
Location: Old San Juan, Puerto Rico
Buyer: Driftwood Capital
Date of Transaction: Sept. 28, 2021
Takeaway: Driftwood Captial intends to convert the hotel into a Tribute by Marriott. It will be managed by Driftwood Capital's sister company Driftwood Hospitality Management.
Hyatt Regency Lake Tahoe Resort, Spa and Casino
Rooms: 422
Location: Incline Village, Nevada
Price: $345 million
Price Per Room: $817,535
Buyer: Lawrence Investments LLC
Date of Transaction: Sept. 3, 2021
Takeaway: Larry Ellison, co-founder of computer technology corporation Oracle, formed Lawrence Investments.