Ashford Hospitality Trust

Ashford sold two Howard Johnsons on Long Island, NY for $11 million. CB Richard Ellis brokered the deal. The properties — a 110-room hotel in Commack and an 80-unit property in Jerricho — were part of a 21-hotel portfolio Ashford acquired last March.

Hilton San Diego Convention Center

Co-developers Portman Holdings and Phelps Development secured a $348-million construction loan from the San Diego National Bank for the Hilton San Diego Convention Center. Construction of the 1,190-room property begins this year, with opening scheduled for fall 2008.

JER Partners

The equity investment arm of J.E. Roberts Companies acquired a seven-property portfolio of TownePlace Suites from Rocky Mountain Extended Stay LLP for $53 million. Six of the hotels are in the Denver area, and one is in Colorado Springs. Sage Hospitality will continue to manage the properties. HREC Investment Advisors represented the seller.

Lane Hospitality

The Northbrook, IL-based owner and operator recently landed one management contract and bought three hotels. The acquired properties include a 224-room Hilton in Grand Rapids, MI, a 219-room Radisson in Annapolis, MD and a 146-room Courtyard in Durham, NC. The management contract is for the 253-room Crowne Plaza in Bloomington, MN.

Marshall Management

The Maryland-based firm landed five management contracts in the last quarter of 2005. Three of the properties — a Holiday Inn, Hampton Inn and a Best Western — are in North Carolina, while the other two — a Holiday Inn and a Days Inn — are in the Walt Disney World area of Florida.

Molinaro Koger

The global hotel brokerage firm closed on $2.2 billion in hotel transactions and funding in 2005, the busiest year in the firm's 47-year history. Last year, the company opened officies in San Francisco, Shanghai and Beijing.

Ocean Waters

The Florida-based hotel firm bought two Daytona Beach properties in separate transactions. The acquisitions are the 143-room Sea Garden Inn and the 52-room Royal Beach Motel.

Plantation Inn and Golf Resort

Prism Hotels recently purchased the Plantation Inn and Golf Resort in Crystal River, FL and plans to spend $6.9 million in capital improvements to the property. The project includes the addition of 60 guestrooms and 3,000 square feet of meeting space.

The Procaccianti Group

The New England-based firm completed more than $600 million in hotel acquisitions in 2005. The purchases encompassed eight hotels with 2,500 rooms in seven states. The company also promoted Rob Leven from executive vice president of acquisitions to chief investment officer.

RockBridge Capital

The Columbus, OH-based lender recently closed two transactions: an $8.2-million first mortgage to refinance the 123-room Hampton Inn & Suites at Denver Tech Center and a $3-million mezzanine loan to recapitalize a 288-room Hilton in Houston.

Reprints and Licensing
© 2014 Penton Media Inc.

Acceptable Use Policy
blog comments powered by Disqus

Most Recent

More Recent Articles

Career Center

Quick Job Search
Enter Keyword(s):
Enter a City:

Select a State:

Select a Category:
Franchise Fact File Top Brands
Brand Company Basics Top Management Companies
Owners & Operators Industry Consultants
Industry Associations Industry Events
Design Firms Purchasing Companies
Top Ownership Groups

Click here to view all of the Lodging Hospitality Photo Galleries

Accor Best Western
Carlson Rezidor Choice
Hilton Hyatt
IHG La Quinta
Marriott Starwood
Vantage Wyndham

Free Product Information
News and Trends for the Hotel, Motel, and Hospitality Markets.

Lodging Hospitality eReport
Lodging Hospitality electronic newsletters are FREE to requested subscribers.

Lodging Hospitality Resource Center
The Lodging Hospitality Resource Center is the ultimate resource to find products and services to build, equip, and renovate hotels, motels and resorts.

Subscribe / Renew
Visit our subscription center to subscribe or renew your subscription to Lodging Hospitality.

Visit our webinars page to view all our upcoming and on demand webinars.

Visit our White Papers page to view all our current White Papers.