This roundup features the latest hotel transactions in the U.S. hotel industry.
The Lexington Hotel, Autograph Collection
Rooms: 725
Location: New York
Price, Including Debt: $185.3 million
Price Per Room: $255,586
Buyer: N/A
Seller: DiamondRock Hospitality
Date of Transaction: June 30, 2021
Takeaway: DiamondRock plans to redeploy the net proceeds from the sale to acquire high-growth experiential resort and urban lifestyle hotels aligned with its investment strategy.
Hotel Indigo San Diego Gaslamp Quarter
Rooms: 210
Location: San Diego
Price, Including Debt: $149 million, in combination with the Courtyard Washington Capitol Hill Navy Yard in Washington, D.C.
Price Per Room: $360,000 in combination with the D.C. hotel.
Buyer: N/A
Seller: Park Hotels & Resorts
Date of Transaction: June 30, 2021
Takeaway: Proceeds from the sale will be used to fully repay debt currently outstanding on the Park's revolving credit facility and partially repay debt currently outstanding on its one remaining bank term loan.
Courtyard Washington Capitol Hill Navy Yard
Rooms: 204
Location: Washington, D.C.
Price, Including Debt: $149 million, in combination with the Hotel Indigo San Diego Gaslamp Quarter.
Price Per Room: $360,000 in combination with the San Diego hotel.
Buyer: N/A
Seller: Park Hotels & Resorts
Date of Transaction: June 30, 2021
Takeaway: Proceeds from the sale will be used to fully repay debt currently outstanding on the Park's revolving credit facility and partially repay debt currently outstanding on its one remaining bank term loan.
A Frisco, Colorado, Hotel
Rooms: 127
Location: Frisco, Colorado
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Five Senses Hospitality
Seller: N/A
Date of Transaction: June 14, 2021
Takeaway: The hotel is the former Baymont Inn & Suites. The deal is a joint venture with Bedford Lodging, which Five Senses has an exclusive partnership to manage the day-to-day operations of its assets.
A Hilton-branded portfilio
Rooms: N/A
Location: Huntsville, Alabama, and Opelika, Alabama
Price, Including Debt: $56.1 million
Price Per Room: N/A
Buyer: KKR
Seller: PHD Hotels
Date of Transaction: June 18, 2021
Takeaway: The portfolio includes the newly opened Hilton Garden Inn Madison Huntsville Airport and three Home2 Suites by Hilton: Madison Huntsville Airport, Decatur Ingalls Harbor and Opelika Auburn.
Thompson House Resort
Rooms: 110
Location: Windam, New York
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Wylder Hotels
Seller: N/A
Date of Transaction: June 23, 2021
Takeaway: Wylder Hotels plans to reimagine the resort and reopen it in spring 2022.
The Sherburne Inn Nantucket
Rooms: 8
Location: Nantucket, Massachusetts
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: TPG Hotels, Resorts & Marinas
Seller: N/A
Date of Transaction: June 29, 2021
Takeaway: The inn is within walking distance of all popular Nantucket tourist destinations, restaurants, shopping and beaches.