Hotel & Motel Management - October 1, 2007 - (Page 34)

34 Transactions Continued from page 33 Marriott International opened two new Residence Inn hotels: a 106-suite property in Mishawaka, Ind., owned and managed by White Lodging Services of Merrillville, Ind.; and a 97-suite hotel in Middletown, R.I., which is owned and managed by First Bristol Corporation of Fall River, Mass. Interstate Hotels & Resorts formed a joint venture H&MM October 1, 2007 | HotelMotel.com www.HotelMotel.com/digital_edition partnership with Indianapolisbased Premier Properties USA to build three hotels: a 114-room Hyatt Place at The Marquis in Williamsburg, Va.; a 136room aloft at The Metropolis in Plainﬁeld, Ind.; and a 136-room aloft at The Venu in Indianapolis. Interstate will invest 15 percent equity interest in the joint venture and will manage all three properties when they open. Starwood Hotels Resorts Worldwide, Inc. announced the opening of The Westin Lombard Yorktown Center, an upscale hotel located outside of Chicago in Lombard, Ill. Operated by a wholly owned subsidiary of Starwood Hotels Resorts Worldwide, The Westin Lombard Yorktown Center is the 150th Westin hotel to open worldwide. the city of Fort Lauderdale. The Hawthorn Suites Weston features 128 one-bedroom suites on six ﬂoors. The historic Hotel Cass will open its doors as the Hotel Cass Mag Mile Chicago after an extensive $16-million redevelopment turned it into a 175-room boutique property. Hampton recently announced the opening of a new property, the 96-room and suites Hampton Inn and Suites in Herndon, Va. FINANCING Carlton Advisory Services closed $350 million of senior and mezzanine ﬁnancing for the construction of the Trump SoHo, a 46-story, 400-key, New York luxury condo-hotel on behalf of Bayrock/Sapir Organization LLC. The property will include a restaurant, spa and more than 12,000 square feet of meeting space. Premier Capital Associates LLC arranged and closed a $4.2-million reﬁnancing transaction for a 60-unit Quality Inn & Suites in Sequim, Wash. Specialty Finance Group closed a $51-million construction/mini perm loan with Impact Properties for Impact’s Westin Tampa Bay resort project. The 225-room property is slated to open in December 2008. Sonnenblick-Eichner Company arranged $212.5 million in construction ﬁnancing for the new St. Regis Resort & Residences Deer Crest in Deer Valley, Utah. The non-recourse construction loan was provided by a syndicate of three domestic and international money center banks and ﬁnancial institutions. Neptune Hospitality Advisors arranged senior ﬁnancing for the 301-room Sheraton Studio City in Orlando, Fla. Neptune arranged the $24.7-million, ﬁveyear ﬁxed-rate loan, with 12months interest-only, through an international investment bank. A Hawthorn Suites hotel has opened in Weston, Fla., near Compiled by Jason Freed, jfreed@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. CIRCLE NO. 148 SEND US YOUR Send releases to Jason Freed, associate editor at jfreed@questex.com. http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://www.HunterHotels.net http://www.HunterHotels.net http://www.HunterHotels.net http://www.HunterHotels.net

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - October 1, 2007

Hotel & Motel Management - October 1, 2007 Contents Independents Rely on Guest Feedback Models Showcase Aloft, Element Brands Trainers Emphasize Communication, Cooperation Perspective At Your Risk Satisfaction Trends Sales Clinic Energy Star Update HotelWorld Update Trends & Stats Dressing Walls in 'Green' Music Programming Provides a Sound Solution Remote Check-In/Out for Leisure Travelers Q&A: Western U.S. Pipeline Softgoods - Beds and Bedding Transactions A Cause Célèbre Awards People on the Move Events Cleaning and Maintenance Solutions Marketplace Ad/Editorial Index Classifieds Checking Out

Hotel & Motel Management - October 1, 2007

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