Hotel Industry News - Development

The properties acquired are the Courtyard by Marriott and Residence Inn by Marriott, both in Baton Rouge. The hotels have a total of 229 keys.

Increases the number of contracts between White Lodging and RLJ Lodging Trust to 106.

The Steigenberger Hotel will take up seven storeys of an 18-storey hotel and residential tower, providing 175 guest rooms and suites.

This marks the brand’s first institutional investor, underscoring the confidence developers and Choice Hotels have already expressed for the emerging brand’s performance potential.

International hotel investors have clearly set their eyes on Asia and the Middle East - 770 hotels currently arise between Dubai and Shanghai. For comparison: in Europe 204 new first class and luxury hotels are being developed, in the USA and Canada just 112 hotels.

Choice Hotel's collection of independent hotels opens 30 hotels in 2013

With an initial investment projected at €1.5 billion, Mobilona plans to construct the first of its kind ‘Space Hotel’ on Barcelona Island.

Concord Hospitality Enterprises to Operate Hotel, Oversee $10 Million-Plus Renovation and Relaunch as Wyndham Grand Hotel

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced that it will increase its operating hotel footprint in Latin America by 50 percent during the next five years, opening an average of seven new hotels per year in the region.

Acquired at a trailing 12-month cap rate of 6.2% and trailing 12-month EBITDA yield of 7.0%