This roundup features the latest hotel transactions in the U.S. hotel industry.
Hilton Dallas/Plano Granite Park Hotel
Rooms: 299
Location: Dallas
Price, Including Debt: $86 million
Price Per Room: $287,625
Buyer: Driftwood Capital
Seller: Granite Properties
Date of Transaction: June 20, 2023
Takeaway: Driftwood plans to renovate the hotel's guest rooms and meeting space. Driftwood Capital's affiliate Driftwood Hospitality Management has assumed management of the hotel.
Four Points by Sheraton San Rafael Marin County
Rooms: 235
Location: San Rafael, California
Price, Including Debt: $38 million
Price Per Room: $161,702
Buyer: Equinox Hospitality
Seller: Steven Hartunian
Date of Transaction: May 23, 2023
Takeaway: Equinox will renovate and reposition the hotel as a Tribute by Marriott.
AC Hotel Clearwater Beach
Rooms: 144
Location: Clearwater Beach, Florida
Price, Including Debt: $58.3 million
Price Per Room: $404,861
Buyer: Mission Hill Hospitality
Seller: Norwich Partners
Date of Transaction: June 28, 2023
Takeaway: The hotel opened in June 2022 and is one of Clearwater Beach's newest hotels. It was part of a two-hotel portfolio deal.
Courtyard Clearwater Beach
Rooms: 139
Location: Clearwater Beach, Florida
Price, Including Debt: $55.4 million
Price Per Room: $398,561
Buyer: Mission Hill Hospitality
Seller: Norwich Partners
Date of Transaction: June 30
Takeaway: The hotel opened in December 2021. It was part of a two-hotel portfolio deal.
Courtyard by Marriott Cleveland University Circle
Rooms: 154
Location: Cleveland, Ohio
Price, Including Debt: $31 million
Price Per Room: $201,299
Buyer: Apple Hospitality REIT
Seller: Snavely Development Company
Date of Transaction: July 5, 2023
Takeaway: The hotel was newly renovated.