Overcash Demmitt Architects Predicts Continued Growth in this Area
A joint venture among funds managed by the Real Estate Group of Ares Management, L.P. (NYSE:ARES), SMW Hospitality LLC, and Trinity Real Estate Investments LLC, today announced the sale of The Ritz-Carlton, Kapalua in Maui, Hawaii, to Blackstone Real Estate Partners, an affiliate of Blackstone Group (NYSE:BX).
Hilton evaluated the emerging lifestyle hostel model globally to understand the opportunity to enhance the shared room concept. But, extensive research showed that travelers who stay in hostels, in fact, do not like rooming with strangers and often book just with their friends or family.
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).