Topic - Hotel Portfolio Transaction

Mantra Group today announced it has entered into an agreement with the Deague Group to acquire the Australian-owned Art Series Hotel Group for approximately $52.5 million (excluding transaction costs), subject to customary completion conditions. continue reading →

StayWell operates a total of 30 hotels, including those under development, in Australia, India and five other countries. continue reading →

Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced the completion of the 5-hotel, 812-guestroom portfolio sale to an affiliate of Summit Hotel Properties (NYSE: INN) for a total purchase price of $163 million, or approximately $201,000 per key. continue reading →

ummit Hotel Properties, Inc. (NYSE: INN) and Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced that the companies have executed a definitive agreement for an affiliate of Summit to acquire an 812-guestroom, five-hotel portfolio from Xenia for a total purchase price of $163 million, or approximately $201,000 per key. continue reading →

American Hotel Income Properties REIT LP (TSX:HOT.UN)(OTCQX:AHOTF) announced today that it has agreed to acquire through its subsidiaries a geographically targeted portfolio of 18 premium branded Marriott and Hilton hotels containing 2,187 guestrooms and located in Maryland, New Jersey, New York, Connecticut and Pennsylvania for approximately US$407.4 million, including brand-mandated property improvement plans. continue reading →

The seven hotels in the Summit Portfolio consist of 651 keys and were acquired for an aggregate purchase price of $66.8 million. All the properties in the portfolio have long term franchise agreements with one of the following brands: Marriott International (Courtyard, Residence Inn and Fairfield Inn), Hilton Hotels (Homewood Suites) or IHG (Staybridge Suites). continue reading →

American Hotel Income Properties REIT LP (TSX: HOT.UN) (OTCQX: AHOTF) announced today the completion of its previously announced strategic acquisition of three Embassy Suites by Hilton hotels located in proximity to Columbus, Cleveland and Cincinnati, Ohio for an aggregate purchase price of approximately US$124 million. continue reading →

The Acquisition Properties comprise 529 total guest rooms and were acquired for approximately US$109,000 per guest room, exclusive of the cost of the PIPs, which is below management's estimate of replacement cost. continue reading →

AccorHotels announced that it has successfully reached agreement with a wholly-owned subsidiary of the Abu Dhabi Investment Authority to restructure a portfolio of 31 hotels (4,097 rooms) in Australia. continue reading →

American Hotel Income Properties REIT LP (TSX: HOT.UN) (OTCQX: AHOTF) announced today that it has agreed to acquire through its subsidiaries the previously announced strategic portfolio of three Embassy Suites by Hilton branded hotels totaling 782 guestrooms located in proximity to Columbus, Cleveland and Cincinnati, Ohio continue reading →