Today's Hotel Development News Today's Hotel Development News from Hotel News Resource en-us Hotel News Resource Radisson Blu Hotel Du 2 Février Lomé to Open Q4 2015 in Togo The 5-star Radisson Blu will offer 320 rooms and apartments, five food & drink outlets, meeting space of 3,600m2 including two auditoriums, an outdoor swimming pool and terrace, a business center, a business class lounge, a 375m2 gym & spa area, tennis courts and a casino. Fri, 27 Feb 2015 13:51:00 EST Encore Hospitality, LLC Acquires Two Hotels in McAllen, Texas and Tampa, Florida Encore Hospitality, LLC, a subsidiary of Encore Enterprises, Inc., has purchased a Residence Inn hotel in McAllen, Texas and a Hampton Inn hotel in the Westshore business district of Tampa, Florida. Both properties were previously owned by Encore Hospitality and sold in 2007. Fri, 27 Feb 2015 13:42:20 EST Starwood Capital Group and Melia JV Acquire Spanish Resorts Portfolio at €176 Million Starwood Capital Group and Spanish hotel operator Melia Hotels International announced yesterday that they have established a joint venture that has agreed to acquire a collection of hotels across key resort locations in Spain. Fri, 27 Feb 2015 12:00:33 EST Hotel Brokers International Elects 2015-16 Board of Directors The members of Hotel Brokers International, the real estate industry’s oldest, most experienced network of hotel brokerage specialists, have elected their 2015-16 Board of Directors. The HBI board of directors is comprised of eleven officers/directors elected from the general membership during the organization’s 56th Annual Meeting held recently in Las Vegas. Fri, 27 Feb 2015 09:49:00 EST Radisson Blu Hotel, Yerevan to Open 2016 in the Republic of Armenia Carlson Rezidor and Golden Palace Hotel LLC jointly announce the Radisson Blu Hotel, Yerevan. The upper-upscale hotel is scheduled to open in early 2016. With this signing Carlson Rezidor adds a new country to its growing portfolio in Russia/CIS & Baltics. Thu, 26 Feb 2015 12:15:30 EST 240-room Residence Inn San Diego Downtown-Gaslamp Quarter Sold for $90 Million Chatham Lodging Trust (NYSE:CLDT) today announced that it has completed the previously announced acquisition of the 240-room Residence Inn San Diego Downtown-Gaslamp Quarter for $90 million, or approximately $375,000 per room. Thu, 26 Feb 2015 11:44:49 EST New Hyatt Place Hotel Hotel to Be Located in the Former U.S. Post Office and Custom House Building in Saint Paul, Minn Hyatt Hotels Corporation (NYSE: H), Nelson Development and Exeter Group LLC today announced plans for a 149-room, five-story Hyatt Place hotel to be located in the former U.S. Post Office and Custom House building in Saint Paul, Minn. Thu, 26 Feb 2015 11:26:02 EST Shorebreak Hotel in Huntington Beach, CA, Sold for $58.5 Million DiamondRock Hospitality Company (NYSE: DRH) announced today that it recently acquired the Shorebreak Hotel in Huntington Beach, CA, for a purchase price of $58.5 million. The purchase price represents a 12.8 multiple on 2015 forecasted Hotel earnings before interest, taxes, depreciation and amortization (EBITDA). Wed, 25 Feb 2015 17:58:56 EST Value Place Breaks Ground on New Hotel in San Angelo, Texas Value Place has partnered with Pure Strike Development LP and CAMTOD Group to build the first Value Place hotel in San Angelo, TX. The property, which will be located at 4013 W Houston-Harte Expressway, broke ground on February 2nd. The San Angelo property will be the 39th Value Place hotel in Texas. Wed, 25 Feb 2015 16:48:25 EST New Embassy Suites St. Augustine Beach - Oceanfront to Open in 2017 Hilton Worldwide has signed an agreement with Key International to build a new Embassy Suites, an upscale, all-suite offering, in St. Augustine Beach, Florida. Tue, 24 Feb 2015 13:10:10 EST Courtyard by Marriott Chapel Hill Sold to Noble Investment Group Noble Investment Group today announced the acquisition of the Courtyard by Marriott Chapel Hill. Located in the heart of the renowned triangle area and immediately adjacent to the University of North Carolina at Chapel Hill and UNC Health Care, the property will undergo a number of enhancements throughout the hotel. Tue, 24 Feb 2015 12:05:31 EST Starwood to Open Aloft and Element Hotels 2018 in Dubai Scheduled to open in 2018, Aloft Dubai Raffa and Element Dubai Raffa will bolster Starwood’s presence in Dubai – the city with the second largest concentration of hotels for the company after New York City. With the debut of both brands in 2018, Dubai will soon be home to all nine of Starwood’s brands. Tue, 24 Feb 2015 12:01:22 EST RLJ Lodging Trust Sells 24 Hotels for a Total $240 Million RLJ Lodging Trust (NYSE:RLJ) today announced that the Company has sold a total of 24 hotels for approximately $240 million. The sale price represents approximately a 7.9% capitalization rate on the hotels’ 2014 net operating income, including planned capital expenditures. Tue, 24 Feb 2015 11:12:34 EST HVS Opens New Portland, Oregon Office Led by Seattle native Kasia Russell, MAI, the HVS Portland consulting and valuation team provides single-asset and portfolio hotel appraisals, market and project-feasibility studies, franchise evaluations, and advisory expertise on large-scale, mixed-use and public-private developments. Tue, 24 Feb 2015 10:54:24 EST Choice Hotels International Opens 478 Hotels Worldwide in 2014 Choice Hotels International, Inc. (NYSE: CHH) announced outstanding system growth with the opening of 478 domestic and international properties in 2014. The outlook for future growth is also robust based on the 566 new domestic franchise agreements signed by the company last year. Mon, 23 Feb 2015 10:41:31 EST G6 Hospitality Breaks Ground On First Estudio 6 Hotel in Mexico G6 Hospitality, known for its economy lodging brands, Motel 6 and Studio 6 in the U.S. and Canada, has broken ground to develop its property located in Salamanca, Guanajuato. This will be the first Estudio 6 property in Mexico. Mon, 23 Feb 2015 10:35:04 EST Marriott Sells Miami Beach EDITION for $230 Million Marriott International, Inc. (NASDAQ: MAR) today announced it has sold The Miami Beach EDITION hotel for cash proceeds of $230 million. Today's sale is the second in a series of three anticipated sales of Marriott-owned EDITION hotels to companies ultimately owned by the Abu Dhabi Investment Authority (ADIA). Thu, 19 Feb 2015 11:25:43 EST Kerzner International to Develop Two New One&Only Resorts on the Pacific Coast of Mexico Kerzner International Holdings Limited has entered into an agreement with BK Partners, a private equity fund focused on tourism and land development, to develop and operate two new One&Only resorts on the Pacific Coast of Mexico. Thu, 19 Feb 2015 10:30:41 EST Hilton Worldwide Acquires the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek Hilton Worldwide has acquired the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek from a consortium including affiliates of GEM Realty Capital, Farallon Capital Management and Blackstone. The closing follows an announcement last week that Hilton Worldwide signed agreements to acquire the two hotels. Wed, 18 Feb 2015 16:54:02 EST HVS Report - Demand, Development, and Branding of University Hotels - By Michael E. Brophy (PDF Download) On- and off-campus hotels in a university market have to negotiate a collection of demand generators that are active at different times, and in different segments, throughout the year. We break down what developers and hoteliers should know. Wed, 18 Feb 2015 16:29:35 EST