This roundup features the latest hotel transactions in the U.S. hotel industry.
Embassy Suites Chicago Downtown
Rooms: 368
Location: Chicago
Price, Including Debt: $65.4 million
Price Per Room: $177,641
Buyer: Magna Hospitality
Seller: Sunstone Hotel Investors
Date of Transaction: March 16, 2022
Takeaway: This was a part of a two-hotel portfolio sale.
Hilton Garden Inn Chicago Downtown/Magnificent Mile
Rooms: 361
Location: Chicago
Price, Including Debt: $64 million
Price Per Room: $177,641
Buyer: Magna Hospitality
Seller: Sunstone Hotel Investors
Date of Transaction: March 16
Takeaway: This was a part of a two-hotel portfolio sale.
Kimpton Hotel Monaco Baltimore Inner Harbor
Rooms: 202
Location: Baltimore, Maryland
Price, Including Debt: $18.4 million
Price Per Room: $91,584
Buyer: Douglas Development
Seller: An affiliate of Stonehill Strategic Capital
Date of Transaction: March 9, 2022
Takeaway: Douglas Development plans on completing $6.5 million in renovations. Kimpton will continue to operate the brand flag and TPG Hotels and Resorts will be the new management company.
Hilton Garden Inn Destin Miramar Beach
Rooms: 111
Location: Miramar Beach, Florida
Price, Including Debt: $31 million
Price Per Room: $279,279
Buyer: Chatham Lodging Trust
Seller: Miramar Beach Lodging LLC
Date of Transaction: March 8, 2022
Takeaway: The hotel will be managed by Island Hospitality.
Artisan Hotel Boutique
Rooms: 64
Location: Las Vegas, Nevada
Price, Including Debt: $11.9 million
Price Per Room: $185,937
Buyer: Pro Hospitality Group
Seller: The Siegel Group
Date of Transaction:
Takeaway: The Siegel Group first acquired the hotel in 2009, then renovated, rebranded and repositioned it.
WoodSpring Suites Orlando Clarcona - Maitland
Rooms: 105
Location: Orlando
Price, Including Debt: $6.5 million
Price Per Room: $61,905
Buyer: Sandpiper Hospitality
Seller: Hotel Management Services
Date of Transaction: Feb, 28, 2022
Takeaway: This was a part of a two-hotel portfolio sale.
WoodSpring Suites Orlando Clermont - Minneola
Rooms: 121
Location: Orlando; Clermont
Price, Including Debt: $8.5 million
Price Per Room: $70,248
Buyer: Sandpiper Lodging Trust
Seller: Hotel Management Services
Date of Transaction: Feb. 28, 2022
Takeaway: This was a part of a two-hotel portfolio sale.