Hotel & Motel Management - May 5, 2008 - (Page 34)

34 Transactions H&MM May 5, 2008 | HotelMotel.com www.HotelMotel.com/digital_edition Williamsburg, Va. The George Washington Inn & Conference Center in Williamsburg, Va., joined The Lexington Collection in April. The ﬁve-story hotel offers 247 guestrooms, including 10 suites, and features more than 18,000 square feet of meeting and banquet space. The property will boast a barista bar for coffee and tea, the Rusty Musket Tavern for homestyle comfort foods and the Copper Scroll Restaurant for upscale dining, as well as an indoor swimming pool, a hot tub and a ﬁtness center. Bob Berliner and Neil Freeman own the hotel. another individual. Both loans will be funded from on-going asset sales. On behalf of Broughton Hospitality, Holliday Fenoglio Fowler LP secured $9.9 million in ﬁnancing for The Springs of Palm Springs (Calif.) Hotel and The Orchid Inn in San Simeon, Calif. The Springs of Palm Springs is a 25-room boutique hotel and The Orchid Inn is a 55-room boutique hotel. LEXINGTON COLLECTION ACQUISITIONS On behalf of Hospitality Associates of Shepherdsville, Jones Lang LaSalle Hotels’ select-service division sold the 120-room Days Inn Shepherdsville (Ky.) to Vidhata Hospitality LLC. The Mumford Co. arranged the sale of the Best Western in Wilson, N.C., on behalf of La Sammana Investment LLC to UVAA Hospitality LLC. The 80-room hotel was sold for an undisclosed amount and will remain a Best Western property. Jones Lang LaSalle Hotels’ select-service division sold the Hotel Mead & Conference Center on behalf of NewPage Wisconsin System to WR Hotel Properties. The 157-guestroom property is located in Wisconsin Rapids, Wis. Hotel Equities purchased the 124-room Hampton Inn in Dalton, Ga., from Hospitality Lodging Associates. As part of the acquisition, Hotel Equities entered into a long-term contract to manage the hotel. Noble Investment Group acquired the 295-room Kansas City (Mo.) Marriott—Country Club Plaza. The hotel will undergo an $8.8-million renovation to all guestrooms, meeting space and public areas and will be operated by Noble under a long-term license agreement with Marriott International. Associates Architects worked on the interior and exterior architecture, and Ziegler Cooper is the architect for the master planning. The Lionstone Group, Sansone Group and EQUIS Hospitality Management LLC broke ground on University Village, a new, $150-million mixeduse development in St. Louis. Included in the development are a 243-room Westin Hotel and a 158-room Homewood Suites by Hilton. EQUIS will manage the hotels, as well as another Westin scheduled to launch in St. Louis. BayStar Hotel Group LLC broke ground on the Holiday Inn Express Hotel & Suites—Largo Central Park in Largo, Fla. The $11-million, 95-room hotel will be owned and operated by BayStar Hotel Group. The property is scheduled to open in the ﬁrst quarter of 2009. Beck Co. Hotels began construction on a 92-room Hampton Inn in Harrisonburg, Va. The property, which is slated for a late-summer opening, is owned and managed by Beck Co. & Suites by Carlson opened in Kansas City, Kan. KC Village West LLC owns the hotel. Hampton opened seven properties in January, representing 601 new rooms. The new openings include Hampton Inn hotels in Santa Rosa, N.M.; Columbia, S.C.; and Bismarck, N.D.; and Hampton Inn & Suites properties in Mt. Juliet, Tenn.; Corpus Christi and Lubbock, Texas; and Baton Rouge, La. Five-Star Hotel Management II LP of Fairview, Texas, opened three Hawthorn Suites hotels in Ohio. The properties, located in Dayton, Miamisburg and Columbus, were renovated in décor and received accommodation upgrades. The properties are managed by 7 Seas Hospitality. Beck Co. Hotels opened the 68-room Fairﬁeld Inn & Suites in South Hill, Va., in late December. The property is owned and managed by Beck Co. operated by Akshar Hospitality; Ponca City, Okla., owned and operated by Ash Ponca LLC; Wisconsin Rapids, Wis., owned and operated by Anand Enterprises II LLC; Marysville, Calif., owned and operated by Norcal Hospitality; Junction, Texas, owned and operated by The Luis Rios Hospitality Partnership; and Commerce, Ga., owned and operated by Neelakanth Enterprises. A Hyatt Summerﬁeld Suites property opened in Schaumburg, Ill. The hotel is owned by JHM Hotel and managed by The Bricton Group. MANAGEMENT Interstate Hotels & Resorts signed agreements to manage six hotels: the 218-room Bourbon Orleans in New Orleans, which is owned by MCC Group; the 98room Courtyard by Marriott Westborough (Mass.) and the 121-room Courtyard by Marriott Orange (Conn.), which both are owned by FFC Capital Corp.; the 100-room Regency House Hotel Suites in Pompton Plains, N.J., which is owned by Roger and Mash Sopariwala of Balaji LLC; and the Courtyard by Marriott Gettysburg (Pa.) and the Wyndham Gettysburg Hotel and Conference Center, both owned and developed by The Monahan Group. Hostmark Hospitality Group added the Embassy Suites La Quinta (Calif.) Hotel & Spa to its management portfolio. The property features 262 guest suites and casitas and more than 9,000 square feet of meeting space. FINANCING RockBridge Capital LLC and TMH Hotels closed a jointventure investment to develop a 102-room Hampton Inn & Suites in Wichita, Kan. TMH will manage the hotel upon its opening. Community South Bank provided a $4.2-million loan to ﬁnance the construction and 25-year permanent mortgage of a 75-unit Holiday Inn Express in Crystal River, Fla. The bank also provided bridge ﬁnancing of $1.9 million for the project. Ashford Hospitality Trust acquired a B-note mortgage loan totaling $38 million secured by an interest in the Ritz-Carlton Key Biscayne in Miami. The loan was acquired for $33 million, or a discount to par of 11 percent. The borrower is a partnership between Gencom Group and TCC Cos. Ashford also acquired a mezzanine loan totaling $7 million secured by an interest in the Hotel La Jolla (Calif.). The borrower was a partnership including APMC, Holualua, Cornerstone Communities and OPENINGS In February, Lexington Hotel Associates and IMIC Hotels opened a 97-room, new-construction Wingate by Wyndham hotel in Lexington, S.C. The property is managed by IMIC Hotels and owned by Ben Kelly III, Jim Pagett Jr. and Bert Pooser. A newly constructed 73-room Red Roof Inn opened in Panama City, Fla. JDH Hospitality LLC owns the hotel. A new 117-room Country Inn The Renaissance Boston Waterfront Hotel opened in late February. Marriott International manages the 471-room hotel. Robert DeNiro, Ira Drukier and Richard Born opened the Greenwich Hotel in New York City in April. The eight-ﬂoor, 88room luxury hotel features the Shibui Spa and Ago Ristorante. Newport Beach, Calif.based Broughton Hospitality was awarded management contracts for three Chicago boutique hotels: The Willows Hotel, The Majestic Hotel and City Suites Hotel. Compiled by Emily Hanna, ehanna@questex.com Transactions Want your deal to be listed in transactions? Please include the following items: the property or properties involved; the buyer(s); the seller(s); and the purchase price if applicable. Send releases to Emily Hanna, associate editor at ehanna@questex.com. SEND US YOUR GROUNDBREAKINGS AmREIT and Songy Partners LLC started construction of a 153-room aloft in Houston. JE Dunn Construction Co. is the contractor, Fruchtman Accor North America recently opened eight Motel 6 properties. The property locations are: Las Vegas, owned and operated by Dario Pini LLC; Collinsville, Ill., owned and operated by Tall Brothers; Waukegan, Ill., owned and http://HotelMotel.com http://www.HotelMotel.com/digital_edition

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Hotel & Motel Management - May 5, 2008

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