The Beachcomber Beach Resort and Hotel and The Grand Plaza Beach Hotel & Beach Resort were acquired at a reported purchase price of $100 million. The partnership will commit an additional $24 million for major renovations to upgrade and rebrand the two properties. continue reading →
Apple Hospitality REIT, Inc. (NYSE: APLE) yesterday announced that it acquired the 127-room Hyatt Place Jacksonville Airport for a purchase price of approximately $15.4 million, or $121,000 per key. continue reading →
Rockbridge and Hospitality Ventures Management Group (HVMG), today announced the acquisition of the 159-room Sheraton Jacksonville Hotel in Fla., in a joint venture for an undisclosed sum. HVMG also will operate the hotel and oversee a planned $1.25 million property upgrade. continue reading →
Driftwood Acquisitions and Development (DAD) today announced its purchase of the 290-room Crowne Plaza Melbourne Oceanfront in Melbourne, Florida. The hotel recently completed a full renovation that addressed areas impacted by Hurricane Irma. The hotel will be managed by Driftwood Hospitality Management (DHM). continue reading →
The Purchaser, New Jersey-based National Realty Investment Advisors LLC, and Co Developer US Construction Inc. will soon close the hotel as they work on a redevelopment plan for the prized oceanfront site. continue reading →
RLJ Lodging Trust (NYSE: RLJ) today announced that the Company has sold the 362-room Vinoy Renaissance St. Petersburg Resort & Golf Club for total consideration of $188.5 million, consisting of the contractual sales price of $185.0 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key. continue reading →
Noble Investment Group yesterday announced the acquisition of the Residence Inn by Marriott Tampa Downtown. The newly renovated, all-suite hotel is prominently located in the central business and financial district of the Tampa Bay area. continue reading →
KSL Capital Partners, LLC (KSL) announced that an affiliate of KSL has acquired the Margaritaville Hollywood Beach Resort, the oceanfront resort and entertainment destination located on the Hollywood Beach Broadwalk in Hollywood, Florida. continue reading →