HOSPITALITY NEWS

GlobeSt

• newVICI Properties Acquiring Detroit's Greektown Casino-Hotel for $1B
  VICI is acquiring a market-leading property, and leasing it out at an effective 7.9% cap rate to Penn National Gaming.       
  - 6 hours ago 14 Nov 18, 2:41pm -
• Bank of America Leads $648M National Hotel Portfolio Refi
  The national portfolio owned by New York City-based MCR and BLT of Stamford, CT, encompasses 5,958-guestrooms at 53 Marriott and Hilton select service and extended stay hotels located in 15 states and 31 markets.       
  - 1 day ago 13 Nov 18, 1:56pm -
• Making An Offer They Can't Refuse
  HFF announces the sale of Home2 Suites near extensive medical facilities at the University of Florida, one of the largest colleges in the US.       
  - 1 day ago 13 Nov 18, 10:04am -
• Hilton, FHG Officially Celebrate First Tri-Branded Property
  GlobeSt.com joins Hilton to celebrate the one-of-a-kind addition to downtown Chicago's South Loop and Motor Row District lodging offerings.       
  - 2 days ago 12 Nov 18, 10:00am -
• Developers Are Now Becoming Lenders
  Several sectors, such as multifamily, are more risky, and some developers believe in some cases that lending to others is the safe position.       
  - 5 days ago 9 Nov 18, 1:27pm -
• Avison Young Continues European Expansion with GVA Buy
  Toronto-based Avison Young will combine GVA with Avison Young's existing U.K. operations. The transaction is expected to close during the first quarter of 2019. London-based GVA has 1,500 employees in 15 offices in the U.K., Ireland and Poland.   …
  - 6 days ago 8 Nov 18, 1:18pm -
• Hilton Continues to Expand Multi-Brand Footprint
  GlobeSt.com visits the new tri-branded Hilton Garden Inn, Hampton Inn and Home2 Suites by Hilton Chicago McCormick Place and learns that Hilton has another 225 hotels in the global pipeline that will be part of multi-brand complexes.       
  - 6 days ago 8 Nov 18, 10:00am -
• Seattle Set to Crack 300,000 Downtown Jobs
  Downtown is home to the largest share of that growth, and this continued investment shows a high level of confidence in the metro and contributes to a strong economy.       
  - 6 days ago 8 Nov 18, 9:00am -
• Saltzman Out, Barrack in at Colony Capital
  Barrack has reassumed the position he had when he founded Colony as a private company in 1991, and held until 2014 when Colony merged into Colony Financial, Inc.       
  - 7 days ago 7 Nov 18, 2:54pm -
• First Sandman Signature Hotel Opens in Plano
  The opening of the new four-star hotel signifies the latest in a host of openings for the fast-growing Vancouver-based full-service hospitality firm, which is actively growing its footprint in Canada, the UK, and the US.       
  - 7 days ago 7 Nov 18, 1:13pm -
• Expect Rates to Drive San Diego RevPAR Growth Next Year
  With hotel occupancy rates hitting 80%, RevPAR growth next year will likely be fueled by rate gains.       
  - 7 days ago 7 Nov 18, 9:00am -
• National Development Completes First Phase of Transformative East Market Project
  The $400 million first phase of project has reimagined an ageing and underutilized section along Market Street into a dynamic full block of leading stores and popular restaurants.       
  - 8 days ago 6 Nov 18, 9:00am -
• Development Brisk Across Multiple Sectors in Lower Manhattan
  Hotel room inventory in Lower Manhattan is expected to increase 27% in the next few years and if all projects in the pipeline move on to development, the hotel inventory in Lower Manhattan will reach 9,019 rooms in 45 hotels by 2020.       
  - 9 days ago 6 Nov 18, 5:23am -
• Racing to Acquire 1500 Hotel Rooms
  A South Florida-based development company cites scare land and other reasons for acquiring a hotel in a smaller market.       
  - 9 days ago 5 Nov 18, 11:36am -
• Storied Alabama Hotel Ravaged by Hurricane Ivan Reopens
  Originally established in 1974, the property served as a hub of community activity and premier tourism destination for 30 years before being irreparably damaged by Hurricane Ivan.       
  - 12 days ago 2 Nov 18, 2:17pm -
• Kimco Opens Dania Pointe Project at 93% Leased
  The REIT states that the 330,000-square-foot first phase of the 102-acre mixed-use development opens today at 93% leased. Some of its major tenants include: TJ Maxx, Hobby Lobby, Ulta, Lucky's Market, BrandsMart, Five Below, Starbucks and YouFit Heal…
  - 13 days ago 1 Nov 18, 1:32pm -