This roundup features the latest hotel transactions in the U.S. hotel industry.
Jekyll Island Club Resort
Rooms: 200
Location: Jekyll Island, Georgia
Price, Including Debt: $94 million
Price Per Room: $470,000
Buyer: Pebblebrook Hotel Trust
Seller: N/A
Date of Transaction: July 22, 2021
Takeaway: Noble House Hotels & Resorts will manage the hotel.
Villa Florence San Francisco on Union Square
Rooms: 189
Location: San Francisco
Price, Including Debt: $87.5 million
Price Per Room: $462,962
Buyer: N/A
Seller: Pebblebrook Hotel Trust
Date of Transaction: Third quarter of 2021
Takeaway: Pebblebrook executed the contract to sell in July 2021. The sale is expected to be complete in the third quarter of 2021.
Residence Inn by Marriott Steamboat Springs
Rooms: 110
Location: Steamboat Springs, Colorado
Price, Including Debt: $33 million
Price Per Room: $300,000
Buyer: Summit Hotel Properties
Seller: N/A
Date of Transaction: July 12, 2021
Takeaway: The acquisition was complete through Summit's joint venture with GIC.
Danfords Hotel, Marina & Spa
Rooms: 92
Location: Port Jefferson, New York
Price, Including Debt: $19,548,919
Price Per Room: $227,313
Buyer: TPG Hotels, Resorts & Marinas
Seller: The Crest Group
Date of Transaction: July 15, 2021
Takeaway: This property will undergo a full renovation.
Island Resort Fort Walton Beach
Rooms: 331
Location: Fort Walton Beach, Florida
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Rockbridge
Seller: N/A
Date of Transaction: July 12, 2021
Takeaway: Aimbridge Hospitality will manage the resort.
Hotel Indigo Houston at the Galleria
Rooms: 131
Location: Houston, Texas
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Driftwood Capital
Seller: N/A
Date of Transaction: July 7, 2021
Takeaway: The property was acquired through Driftwood's acquisition GP fund, which targets deals in the $30 million to $150 million range.
Sherburne Inn
Rooms: 8
Location: Nantucket, Massachusetts
Price, Including Debt: $2.9 million
Price Per Room: $362,500
Buyer: TPG Hotels, Resorts & Marinas
Seller: N/A
Date of Transaction: June 28, 2021
Takeaway: TPG has other properties in Nantucket.
DoubleTree by Hilton Hotel Anaheim — Orange County
Rooms: 461
Location: Orange, California
Price, Including Debt: $51.4 million
Price Per Room: $111,511
Buyer: AWH Partners and funds managed by a subsidiary of Apollo Global Management.
Seller: N/A
Date of Transaction: June 29, 2021
Takeaway: Spire Hospitality has taken over management of the property from Hilton.