This roundup features the latest hotel transactions in the U.S. hotel industry.
Hotel Zoe Fisherman's Wharf
Rooms: 221
Location: San Francisco
Price, Including Debt: $68.5 million
Price Per Room: $309,954
Buyer: An unnamed third party
Seller: Pebblebrook Hotel Trust
Date of Transaction: Nov. 14, 2023
Takeaway: Real estate investment trust Pebblebrook Hotel Trust first purchased the hotel in 2015 for $122 million from Walnut Hill Capital. At the time, the hotel was named Tuscan Fisherman's Wharf, a Best Western Plus Hotel.
Margaritaville Times Square
Rooms: 234
Location: New York City
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: The Arden Group
Seller: Soho Properties Inc.
Date of Transaction: Oct. 16, 2023
Takeaway: Real estate investment firm Arden Group submitted a $1,000 credit bid, without any competing bids, and won the foreclosure auction of the Margaritaville Times Square.
Fairfield Inn & Suites Raynham Middleborough/Plymouth
Rooms: 100
Location: Middleboro, Massachusetts
Price, Including Debt: $9.25 million
Price Per Room: $92,500
Buyer: Jamsan Management
Seller: JNR Management
Date of Transaction: Nov. 1, 2023
Takeaway: According to research from CoStar Group, Bar Harbor Bank & Trust provided Jamsan Management with a $7.4 million loans toward the purchase.
Hilton Boston Park Plaza
Rooms: 1,060
Location: Boston
Price, Including Debt: $370 million
Price Per Room: $350,000
Buyer: Parks Hospitality
Seller: Sunstone Hotel Partnership
Date of Transaction: Oct. 30, 2023
Takeaway: Sunstone sold the Boston Park Plaza to Mexico-based Parks Hospitality. Parks Hospitality rebranded the hotel as the Hilton Boston Park Plaza.
Sun Style Suites Inn
Rooms: 194
Location: Orlando, Florida
Price, Including Debt: $10.33 million
Price Per Room: $53,247
Buyer: The Siegel Group
Seller: Skyway Development Group
Date of Transaction: Oct. 12, 2023
Takeaway: The hotel sold in a 30-day, off-market transaction.
Residence Inn by Marriott Seattle South/Renton
Rooms: 146
Location: Renton, Washington
Price, Including Debt: $55.5 million
Price Per Room: $380,137
Buyer: Apple Hospitality REIT
Seller: MCR Hotels
Date of Transaction: Oct. 17, 2023
Takeaway: The hotel opened in 2019 and is less than one mile from The Boeing Company's Renton production facility.