Deal follows investment giant’s recent retail portfolio acquisition in SoHo
Deal follows investment giant’s recent retail portfolio acquisition in SoHo
Blackstone, billed as the world’s largest commercial property owner, is buying Kimpton Hotel Eventi in Manhattan for $175 million in the NoMad neighborhood in Manhattan.
City's hospitality sector keeps struggling from the effects of the pandemic
A historic hotel on San Francisco’s iconic Nob Hill has become the latest hospitality property in the city to face foreclosure after its owner was sued by lender Deutsche Bank AG.
Half of properties under construction fall in a single submarket
Seattle’s hotel pipeline mirrors the national average, with roughly 1,300 rooms underway across seven properties, or 2.5% of the existing room supply totaling 51,000. An additional...
Experts weigh pursuit of single-hotel transactions versus larger portfolio deals
MADRID — Hotel investors in Europe are itching to deploy their capital after years of waiting during the pandemic years and through a period of high interest rates.
As India’s hotel-sector booms, IHCL surpasses 1 trillion Indian rupee market capitalization
Indian Hotels Company Limited, part of the Tata Group and operating such hotel brands as Taj Hotels, has seen notable growth in the last half-decade.
Owned by a farmers’ investment group, FBD also has hotels in Spain
Naas, Ireland-based FBD Hotels & Resorts, a division of farmer-owned investment company Farmer Business Developments PLC, has acquired the 202-room Grand Hotel, Malahide, for €55 m...
Mid-century modern style retained at renovated City Center hotel in Long Beach
The rooms were cramped and parking was tight, but architect Richard Kassab was under orders from his developer client to make no structural changes to a classic Southern California...
Average room rates remain stable, except for very high-end hotel chains
The devastating Los Angeles wildfires caused widespread destruction and forced many residents out of their homes. Area hotels welcomed those who were displaced by the fires and eva...
Three transactions made up 25% of the total sales volume
Roughly $338 million across 29 hotels changed hands in Denver last year, achieving a comparable sales volume to the prior year. This compares to the 10-year market average of about...
LA wildfires so far have had limited impact on city’s hotel market
U.S. hotel revenue per available room hit the skids in the week ending Jan. 11, falling 13.2% year over year after a 14.9% gain in the prior week. Declines were seen in both occupa...
For the second year in a row, that dollar amount outpaced office origination
More hotel commercial mortgage-backed security loans were originated last year than in the prior two years combined. The 2024 total of around $20 billion indicates a healthy indust...
Craig Smith talks about path forward with new ownership
The conversion of more than $1.1 billion of debt into equity ownership for a group of its lenders gives Aimbridge Hospitality the space it needs to do its job, CEO Craig Smith said...
Whitebridge Hospitality execs say 2025 could be another 'bonkers' year
LONDON — Labour Party budget challenges and global socioeconomic uncertainties prevail, but hoteliers in the United Kingdom and Europe have optimism in 2025 thanks to forward momen...
Fewer than 10 hotels traded, with not a single transaction exceeding $30 million
Roughly $115 million of hotel properties were sold in Las Vegas last year, a decrease of 90% compared to the prior year. This was the lowest volume recorded in the city since 2014,...
Nonprofit media outlet to relocate to One Arts Plaza in Dallas Arts District
A 64-year-old public broadcasting station serving up PBS and NPR programming in North Texas is preparing to move into temporary space in downtown Dallas to make way for a new mixed...
Length of stay, ability to drive rates more diminished compared to non-pandemic inaugurations
Occupancy on the books at Washington, D.C.-area hotels is strong in the immediate days leading up to Inauguration Day on Jan. 20, but the demand pickup is coming later than usual, ...
Branded condominium project in Palm Beach Gardens to open early next year
The Ritz-Carlton Residences in Palm Beach has topped off, adding to the growing list of branded condominiums popping up throughout South Florida.
Delinquency rate of commercial mortgage-backed securities ended 2024 at 5.7%
Delinquency rates for commercial mortgage-backed security loans for hotels did not move much in 2024, continuing a trend that points to a healthy industry.
Deal will convert more than $1.1 billion of debt into equity with an additional $100 million in new capital
Aimbridge Hospitality, the world's largest third-party hotel management company, has reached a new deal with its first lien lenders. They will become Aimbridge's majority owners as...
Company execs confident of commercial levers and improving market share
Despite a new regulatory environment in its native United Kingdom, Whitbread PLC executives are confident in the resiliency of the Premier Inn brand both at home and abroad in Germ...