Today's Hotel Development News Today's Hotel Development News from Hotel News Resource en-us Hotel News Resource Xenia Hotels & Resorts Completes $163 Million 5-Hotel Portfolio Sale to Summit Hotel Properties 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. Thu, 22 Jun 2017 12:13:28 EST ANA InterContinental Beppu Resort & Spa Announced for 2019 The city of Beppu, on the southern Japanese island of Kyushu, has long been a favourite with locals as an onsen retreat. Today, the city will enjoy a boost as an international spa resort destination with the announcement of the execution of a hotel management agreement for the ANA InterContinental Beppu Resort & Spa between IHG ANA Hotels Group Japan LLC and GHS K.K. Thu, 22 Jun 2017 11:36:10 EST The Siegel Group Purchases Regency Hotel in Dallas Out of Bankruptcy for $5 Million This acquisition increases the number of Siegel Suites and Siegel Suites Select properties throughout the southwestern United States to 40 and marks the introduction of The Siegel Group’s flexible-stay and extended-stay brands to the Texas market. Thu, 22 Jun 2017 11:14:24 EST IHG to Launch New Midscale Hotel Brand Price point about $10-15 less than IHG's Holiday Inn Express brand Wed, 21 Jun 2017 11:11:15 EST Loews Hotels & Co and KC Hotel Developers LLC Partner on New Kansas City Convention Center Hotel Loews Kansas City Convention Center Hotel to Open in Early 2020, Construction Set to Begin Fall 2017 Wed, 21 Jun 2017 11:07:24 EST MGM Grand Breaks Ground on $130 Million Conference Center and Stay Well Meetings Expansion The MGM Grand Conference Center is adding 250,000 square feet for a total of more than 850,000 square feet. Wed, 21 Jun 2017 11:04:14 EST The Pacific Edge Hotel in Laguna Beach Sold for $57.5 Million JLL's Hotels & Hospitality Group announced that the firm arranged the sale of the Pacific Edge Hotel on behalf of a joint venture owned by certain affiliated entities of Westport Capital Partners, LLC. Highgate, in a joint venture with Morgan Stanley Real Estate Investing, purchased the 109-key property for $57.5 million. Wed, 21 Jun 2017 10:58:18 EST Kohea Kai Resort Maui In Hawaii Joins Ascend Hotel Collection Located steps away from five miles of sandy beach, the relaxing Kohea Kai Resort Maui is a 26-room boutique hotel featuring soothing ocean views, outdoor pool and hot tub, open-air rooftop lanai, and serene spacious suites. Wed, 21 Jun 2017 10:54:19 EST Palladium Hotels & Resorts Rebranding the Royal Suites Portfolio of Hotels Adults-only premium properties being renovated, renamed TRS Hotels Wed, 21 Jun 2017 10:44:29 EST Six Senses Ibiza Resort Announced for 2020 Six Senses Hotels Resorts Spas announced the latest addition to their portfolio, Six Senses Ibiza. Set to open in 2020, the resort is tucked away on the peaceful northern tip of Ibiza in the crystalline Cala Xarraca Bay. Wed, 21 Jun 2017 10:29:51 EST 178 Room Hilton Garden Inn Hotel Announced for Birmingham Airport Hilton (NYSE: HLT) has signed a franchise agreement with Castlebridge Hotels Birmingham Airport Limited, a wholly owned subsidiary of Wylam Investments, to open a Hilton Garden Inn hotel at Birmingham Airport. Wed, 21 Jun 2017 10:25:01 EST Industry Giants Bidding to Rebrand Trump's Toronto Hotel - TravelPulse Several ultra-luxury hotel brands are bidding to take over the management contract of the current Trump International Hotel & Tower in Toronto, including a reflagging of the property, according to Reuters. Wed, 21 Jun 2017 10:09:29 EST La Quinta Inn & Suites Chicago Downtown Completes Major Renovation Program La Quinta Holdings Inc. (NYSE: LQ) announced the completion of an extensive renovation to the La Quinta Inn & Suites – Chicago Downtown located at One South Franklin in the heart of Chicago's financial and theatre district, nearby many of the city's top attractions. The 239-room hotel now has a completely new interior. Wed, 21 Jun 2017 08:39:18 EST Dumont NYC Hotel Sold for $118.0 Million The sale price of $118.0 million reflects a 25.2x EBITDA multiple and a 3.3% net operating income capitalization rate. Wed, 21 Jun 2017 08:30:45 EST Crescent Hotels & Resorts to Manage Westin San Jose Hotel Crescent Hotels & Resorts has been selected to manage the AAA 4 Diamond Westin San Jose, once known as San Jose's 'Million Dollar Hotel.' Tue, 20 Jun 2017 15:30:11 EST Ashford Prime Lists the Marriott Plano Legacy for Sale Announces Agreement to Convert Courtyard Philadelphia to Marriott's Autograph Collection Tue, 20 Jun 2017 13:08:13 EST The LOOK Hotel in Brooklyn, NY Joins Ascend Hotel Collection The sleekly designed 81-room boutique hotel is situated by the Brooklyn waterfront. The property features newly renovated, modern guest rooms that showcase residential inspired finishes and details, including oversized work desks, comfy task chairs and triple-sheet bedding Mon, 19 Jun 2017 16:50:11 EST Ashford Prime Announces Extension Of Ground Lease At Hilton La Jolla Torrey Pines The lease, which currently expires in 2043, will be extended by 24 years and will now expire in 2067. Through this agreement, the Company was also able to secure options to further extend the ground lease by either 10 or 20 additional years depending on the amount of capital expenditures invested in the Hotel during the term. Mon, 19 Jun 2017 16:10:41 EST Pullman Tokyo Tamachi Hotel to Open Fall 2018 The hotel is directly connected to the JR Tamachi Station east exit and a three-minute walk from the Toei Subway Mita Line. From the hotel to the Haneda International Airport is about 30 mins by public transport and just one stop from JR Shinagawa station to Osaka and Kyoto via bullet train. Mon, 19 Jun 2017 15:31:28 EST First Finish Begins Major Renovation of Sheraton Steamboat Resort Guest rooms will be converted to timeshare villas for Vistana Signature Properties Mon, 19 Jun 2017 12:06:54 EST