Ashford Hospitality Trust
Dallas-based Ashford paid $465 million in cash for a portfolio of 30 select-service Marriott branded and managed hotels. The group includes seven TownePlace Suites, 13 Residence Inns, six Courtyards by Marriott and four SpringHill Suites.
CNL Hotels & Resorts
Pyramid Hotel Opportunity Venture will purchase five hotels from CNL for $109 million, or $113,424 per room. The portfolio includes the Doubletree Hotel San Diego/Del Mar; Hotel Rex, San Francisco; Hilton San Francisco Fisherman's Wharf; Beverly Heritage, Milpitas, CA; and a Holiday Inn in Columbia, SC.
Strategic Hotel Capital paid about $155 million, or $224,000 per room for the 692-room Fairmont Chicago. Seller was an affiliate of The Swig Co.
Four Seasons Toronto
A company owned by Saudi Prince Alwaleed and his family purchased the 380-room Four Seasons Hotel Toronto from Maritz, Wolf & Co. Sonnenblick-Goldman Co. advised Maritz, Wolf on the transaction.
Hampton Inn Hilton Head
Winston Hotels, Inc. sold its 125-room Hampton Inn in Hilton Head, SC for $4.4 million in cash. The buyer was not identified.
Hilton Charlotte Center City
San Francisco-based Stanford Hotels Corp. purchased the 400-room Hilton Charlotte Center City for $56 million. Stanford plans to spend an additional $10 million to renovate the property.
Atlanta-based Lodgian, Inc. recently sold two hotels for a combined $17.8 million to two undisclosed buyers. The properties are the 397-room Holiday Inn Select in Niagara Falls, NY and the 390-room Holiday Inn St. Louis Airport.
Taj Hotels Resorts and Palaces has succeeded Four Seasons as lessee and operator of the legendary Pierre Hotel in New York City. The 77-year-old property, which includes 201 hotel rooms and 80 residential apartments, also became a member of The Leading Hotels of the World.
Colony Capital paid about $1 billion for the hotel interests of Raffles Holdings Limited. The deal includes 15 Raffles Hotels & Resorts and 26 Swissotel Hotels & Resorts in 35 destinations. Colony says it will keep the current flags and look for opportunities to selectively grow the brands through franchising.
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