Amerihost Inn, Stockbridge, GA
Atlanta-based Thompson Calhoun Fair advised Arlington Hospitality on its sale of an AmeriHost Inn in Stockbridge, GA to Bhanu Hospitality. The 60-room property is in the Eagles Landing development.
Ashford Hospitality Trust
A group of owners that includes affiliates of Fisher Brothers, the Gordon Getty Trust and George Soros completed its sale of 21 hotels with 4,094 rooms for $250 million to Ashford Hospitality Trust. The portfolio includes 13 core properties across five brands and one independent. Remington Lodging & Hospitality will manage these hotels, while Ashford contemplates alternatives for the remaining properties it considers to be non-core.
Hilton Mission Valley, San Diego
HEI Hospitality last month completed its purchase of the 351-room Hilton Mission Valley in San Diego from the property's original developer, Mission Valley Associates. Colliers International Hotels arranged the sale. HEI plans to spend $9 million in the next year to upgrade the property.
Interstate Hotels & Resorts
A partnership consisting of a private investment fund managed by Goldman Sachs and affiliates of Highgate Holdings chose Interstate Hotels & Resorts to manage the 22-property portfolio of upscale hotels it recently purchased. The partnership will spend $75 million on upgrades to the hotels. The portfolio of 5,895 rooms includes 14 Wyndhams, two Hiltons, three Doubletrees, a Radisson and two independents.
Princeville Associates, a joint venture led by resort developer Jeffrey Stone, purchased the Princeville Resort on the island of Kauai. Sellers were Suntory Ltd., Mitsui and Co. Ltd. and Nippon Shinpan Co. Ltd. No purchase price was released. The acquisition includes 9,000 acres of land, a 252-room hotel, two golf courses, tennis club, health club and spa, shopping center, an airport and other holdings.
Kimpton Hotel & Restaurant Group sold three Hotel Monacos to Prudential Financial for a reported $103 million. The properties are in Chicago, Denver and Salt Lake City. Jones Lang LaSalle brokered the deal.
Radisson Hotel, Largo, MD
A joint venture between AMC Delancey and Paramount Hotel Group purchased the Doubletree Club Hotel in Largo, MD. The 184-room property will undergo a renovation and become a Radisson by mid-September.
Sanderling Resort and Spa
North Carolina-based Turnpike Properties chose Boykin Management Co. to run the 88-room Sanderling Resort and Spa in Duck, NC. The site has an IACC-certified conference center.
The Summit Group
Sioux Falls, SD-based The Summit Group recently purchased four hotels — two Courtyards by Marriott, a Fairfield Inn and a Hampton Inn & Suites. The company paid $27.7 million, or $64,871 per room, for the portfolio.
Mantra LLC sold 2.1 acres of land in Anaheim, CA to timeshare company Trendwest Resorts, which plans a 14-story, 255-unit vacation resort on the site. Colliers International Hotels arranged the deal.
GMAC Commercial Mortgage Corp. provided $32 million in floating-rate refinancing for the 290-room Waterfront Hilton in Huntington Beach, CA.
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