HNR Development Update Issue: July, 14 2023 | Read Online
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Weekly Development Update
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Hotel Transaction Virginia
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JLLs Hotels & Hospitality group led sales efforts for properties near major universities in Alabama and Virginia Read more
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In the latest of HVSs series of webinars, 425 attendees heard a topical discussion from a line-up of expert speakers on the current status of debt finance within the Hotel sector. Read more
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Hotel Transaction Mexico Yucatán
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Transat A.T. Inc. entered into a sale and purchase agreement for its land property located in Puerto Morelos, Mexico, for US$38 million to Finest Resorts, a luxury resort group, part of The Excellence Collection. Read more
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Radisson Hotel Group Development Update
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Radisson Hotel Group has had a strong H1 2023 with strategic growth across the portfolio being delivered in APAC and in EMEA with milestone openings and signings. Read more
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Wyndham Hotels & Resorts and Roadchef, one of the UKs leading motorway service area operators, today announced the upcoming opening of Super 8 by Wyndham Chester East, the brands first entry in the UK. Read more
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IHG Hotels & Resort has announced the signing of a management agreement with T&K Construction Private Limited for its first Holiday Inn hotel in Bhutan. Read more
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Hotel Development Bangkok
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IHG Hotels & Resorts announced the signing of Holiday Inn Express & Suites Bangkok Asok with new partner A.P.K Real Estate Co., Ltd. Read more
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Sonder Holdings Inc. (NASDAQ: SOND) continues to expand in Europe, adding 5 new properties to its existing portfolio of 54 properties across key travel destinations in EMEA. Read more
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Hotel Transaction Adelaide
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Salter Brothers, one of the regions most active hotel investors, has exchanged contracts to acquire the multi-award winning Sofitel Adelaide Hotel for approximately $154,000,000. Read more
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Melbournes award-winning Quincy Hotel, on the iconic Flinders Lane, has been listed for sale by international hotel owner InterGlobe Enterprises. Read more
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Hotel Transaction Florida
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DSH Hotel Advisors represented the seller, Gardenia Inn Inc., and the buyer, Brahmas Lakeland LLC. Read more
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CBRE Hotels Institutional Group presents the Hilton Garden Inn Denver Tech Center, a premier select service, significant value add, fee simple, 180 key offering located in the heart of Denvers premier economic trading center for local, national, and international business. Read more
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U.S. Hotel Transaction Trends
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In a review of hotel transactions for the first six months of the year, hotel industry experts say that the cost of capital and sellers holding out for a higher price while would-be buyers seek a better deal are slowing the pace, but there's potential for a turnaround. Read more
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Hotel Development Germany
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The Steigenberger Hotels & Resorts brand is expanding its portfolio: LFPI Hospitality Group and Deutsche Hospitality have signed a franchise agreement for a hotel in Bielefeld. Read more
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Hong Kongs Far East Consortium is moving to sell two of Australias most prestigious hotels - The Ritz-Carlton, Melbourne and The Ritz-Carlton, Perth - amid strong demand for trophy luxury hotel investment opportunities in Australia. Read more
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The hotel will be part of the larger Bankside Yards development, which serves to reconnect the space between the Tate Modern and Blackfriars Station and is centred around the historic railway arches that run through the heart of the site. Read more
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CBRE Hotels presenst the opportunity to acquire the fee-simple interest in the under construction 158-room Hampton Inn in Orland Park, IL. Read more
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Hotlel Development Turks & Caicos
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Inspired by the sea and designed to redefine luxury in the Caribbean, The Loren at Turtle Cove will open in 2026 with six private beachfront villas, 25 condominium units and 33-guest suites. Read more
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Hotel Transaction Maryland
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District Hospitality Partners, a privately held hospitality investment group that owns properties nationwide, announced today the acquisition of the Westin Annapolis. Read more
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Hotel Transaction California
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Equinox Hospitality has acquired the Four Points by Sheraton San Rafael Marin County for $38 million. This acquisition marks Equinox's fifth successful addition to its hotel portfolio in the past year. Read more
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Clarion Pointe Development Update
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Clarion Pointe, a midscale select-service brand founded in 2018 and franchised by Choice Hotels International, Inc. (NYSE: CHH), is continuing its expansion with 60 hotels open and more than 50 hotels in the pipeline. Read more
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Set to open in 2026, the 85-room hotel will take a prime beachfront location in the picturesque town of Chania and all guest rooms will feature a private pool. Read more
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Hotel Development Pakistan
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Hilton (NYSE: HLT) has announced the signing of Hilton Garden Inn in Hyderabad. Set to open in 2027, Hilton Garden Inn Hyderabad North was signed with real estate development company Gohar Paradise and will bring the first Hilton Garden Inn brand hotel to Sindh, Pakistan. Read more
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