Today's Hotel Development News Today's Hotel Development News from Hotel News Resource en-us Hotel News Resource Accor Announces Sale & Franchise-Back of Seven Hotels in the United Kingdom and Ireland for €38 Million The transactions were carried out with two partners: Starboard Hotels Ltd. for a portfolio of five ibis hotels (Birmingham Bordesley Circus, Leicester City, London Gatwick Airport, Plymouth and Sheffield City) and a joint venture between Cannock Investments Ltd and Hetherley Capital Partners for the ibis Coventry Centre and the ibis Dublin West in Ireland. Thu, 21 May 2015 15:23:11 EST New Conrad Chicago Announced for Spring 2016 Conrad Hotels & Resorts, Geller Investment Co., LLC, and Wanxiang America Real Estate Group today announced plans to open a new Conrad Chicago, expected to begin hosting global travelers in spring 2016. Thu, 21 May 2015 13:46:17 EST Varro Launches RealShares Online Real Estate Investment Platform, Opens Hotel-Focused Fund Accredited Investors Gain Access to High-Potential, Hotel Investment Opportunities; Benefit from Owner-Operator Format; Join Investor Fund Family with Eight Quarters Exceeding Projections & Excess of $1.75 Million Returned Wed, 20 May 2015 19:19:31 EST El Rancho Motel, Moses Lake, Washington Sold by Crystal Investment Property, LLC Joseph Kennedy, Crystal Investment Property, arranged the sale of the El Rancho Motel, Moses Lake, Washington. The 1940s built motel, which sold for 3.94x gross room revenue and a 12% cap rate on actual 2014 financials, was under contract within 12 days of going on the market. Wed, 20 May 2015 19:10:44 EST Hotel Indigo Announced for Downtown Los Angeles IHG (InterContinental Hotels Group) and Greenland USA announce the signing of the first Hotel Indigo hotel in the city of Los Angeles, California. The 350-room, 18-story Hotel Indigo Downtown Los Angeles will be the flagship hotel at Metropolis, a more than $1 billion mixed-use development. Wed, 20 May 2015 10:57:43 EST Ashford Trust Announces Acquisition Of 9-Hotel Portfolio For $224 Million 9-hotel portfolio consists of 8 select-service hotels and 1 full-service hotel with 1,251 total rooms - Purchase price equates to an estimated forward 12-month cap rate of 7.5% and an estimated forward 12-month EBITDA multiple of 11.6x Tue, 19 May 2015 19:20:32 EST M&R Hotel Management to Operate Holiday Inn Near Times Square M&R Hotel Management today announced it will manage the new 271-room Holiday Inn New York – Times Square South, scheduled to open this year at 585 Eighth Ave., between 38th and 39th streets. Tue, 19 May 2015 13:38:59 EST Wyndham Hotel Group to Manage New Dolce Conference Hotel Near Cincinnati Wyndham Hotel Group today announced it has entered into an agreement to brand and manage a new-construction hotel and conference center less than 10 miles from downtown Cincinnati, Ohio, under its Dolce Hotels and Resorts® flag. Tue, 19 May 2015 11:35:21 EST Starwood Capital Group Acquires Portfolio Of Fifty U.S. Economy Extended-Stay Hotels This deal, which was completed by a controlled affiliate of Starwood Capital Group, consists of 6,106 rooms primarily in the Southeast, including desirable markets in North Carolina, Florida, Texas, Georgia and Alabama. With this acquisition, InTown Suites will become the largest owner of economy extended-stay hotels in the United States, with one hundred and eighty nine owned locations and 24,154 suites. Tue, 19 May 2015 10:47:00 EST The Ritz-Carlton Philadelphia Acquired by Carey Watermark Investors in Joint Venture Carey Watermark Investors Incorporated (CWI 1) announced that it has acquired a majority interest in the 299-room Ritz-Carlton Philadelphia (The Ritz-Carlton) in a joint venture with Philadelphia Hospitality Partners, L.P., the owner of the property. Tue, 19 May 2015 10:32:42 EST TRYP by Wyndham Brand Enters the Philippines A minimum of eight hotels to enter the market within 10 years under new agreement Tue, 19 May 2015 10:29:53 EST Hollywood Roosevelt Returns to Independently Managed Hotel The iconic boutique hotel has recently undergone a $25 million room renovation, led by internationally renowned design firm Yabu Pushelberg. Tue, 19 May 2015 10:25:49 EST W Los Angeles – West Beverly Hills Unveils $25 Million Renovation Drawing inspiration from the iconic bungalows of Beverly Hills, W Los Angeles – West Beverly Hills has unveiled 297 newly re-imagined suites, including an Extreme WOW suite (the W brand’s take on the Presidential Suite) that comes equipped with an intimate, state-of-the-art screening room. Tue, 19 May 2015 09:43:35 EST Aloft Greenville Downtown at ONE Greenville Celebrates Topping Out Last week, Brasfield & Gorrie celebrated the topping out of the Aloft Greenville Downtown at ONE Greenville. The project team has placed the final concrete beam at the top of the new structure. Mon, 18 May 2015 08:31:00 EST Mecca Soon to Host the World's Largest Hotel - USATODAY At almost 686,000 square feet, the $3.5-billion Abraj Kudai will be home to 10,000 rooms, 70 restaurants, a shopping mall, 'royal floors,' prayer halls, and a convention center, all spread among 12 separate towers topped with helipads. Mon, 18 May 2015 07:34:34 EST Carlson Rezidor Hotel Group Plans to Triple Its Number of Hotels in China over the Next Four Years Carlson Rezidor Hotel Group currently operates the Radisson Blu and Park Plaza brands in China, in key cities such as Beijing and Shanghai, as well as secondary cities including Chongqing, Kashgar, Liuzhou, Tianjin and Wuxi with 14 hotels currently in operation and 28 hotels in development. The company is also working to seize opportunities in emerging cities including Dalian, Nanjing and Sanya, Shenzhen, Xiamen and Xi’an. Thu, 14 May 2015 10:48:45 EST Holiday Inn Reynosa Industrial Poniente Hotel Sold for Ps. 103.6 Million Fibra Inn announced yesterday its decision to exercise its call option to purchase Holiday Inn Reynosa Industrial Poniente hotel in the State of Tamaulipas. Thu, 14 May 2015 09:41:05 EST Embassy Suites Charlotte Sold for $32 Million SREE Hotels, LLC today announced the acquisition of the 274-suite Embassy Suites Charlotte. SREE Hotels plans an eight million dollar renovation to upgrade the interior and exterior, including all guest suites, the meeting/banquet space, lobby and atrium, as well as integrating a new F & B Outlet into the atrium area. Thu, 14 May 2015 09:37:32 EST Hampton Inn by Hilton Hermosillo Hotel Sold for Ps. 175.0 Million Libra Inn announced yesterday its decision to exercise its call option to purchase the Hampton Inn by Hilton Hermosillo hotel in the State of Sonora. Thu, 14 May 2015 08:15:25 EST Four Seasons Austin Hotel Sold for $197.0 Million Strategic Hotels & Resorts, Inc. (NYSE: BEE), today announced that the Company closed on the acquisition of the Four Seasons Austin hotel for $197.0 million. Wed, 13 May 2015 18:12:24 EST