Ascott Residence Trust purchased a 224 room hotel near New York’s Times Square in the Singapore-listed REIT’s third New York hospitality acquisition in under two years, according to an announcement today by Ascott Residence Trust Management (ARTML). Ascott REIT is buying the DoubleTree by Hilton Hotel New York, Times Square South for $106 million from a subsidiary of Rhode Island-based hotel investment and management firm Magna Hospitality Group.
NEW WINDSOR — A group that filed an Article 78 lawsuit against the town’s Zoning Board after variances were granted to a hotel project on Union Avenue has filed its own plans to build a hotel on a neighboring site.Windsor Hospitality owner Chet Kanti originally submitted an application with the Town Planning Board in July 2015 to add two hotels to a 6.8-acre site that houses a Days Inn hotel at 915 Union Ave.The project required five zoning variances, which [...]
CHAMP Private Equity is in talks to buy Dixon Hospitality Group, sources told Street Talk on Tuesday. The John Haddock-led firm is understood to be pushing ahead of rival KKR & Co, which approached the pubs group last week.
Airbnb has closed on a more than $1 billion round of funding, a source close to the company told CNBC. The round was confirmed in an SEC filing that dropped on Thursday. It is now worth approximately $31 billion. The company raised roughly an additional $450 million as part of its Series F round, making the round nearly twice as much as it stood last fall. The total amount raised was $1,003,312,065, according to the filing.
Louvre Hotels Group, the second largest in the hospitality industry in Europe, bought a majority stake in Sarovar Hotels in India this January, beating Wyndham Hotel Group in the race.
Gencom has sold the Ritz-Carlton Coconut Grove for $24.63 million, or about $214,000 per room, to Hersha Hospitality Trust. Records show Gencom affiliate Genmag Coconut Grove LLC sold the 115-room hotel, excluding the condo-hotel residences, to HHLP Coconut Grove RC Associates LLC.
The two properties in The Capital Hotel Group have been sold to American firm Warwick Hotels & Resorts for an undisclosed sum.
Verizon Communications, Inc. acquired the 171-room Dolce Basking Ridge hotel at 300 N. Maple Ave. in Basking Ridge, NJ for $29.5 million, or about $173,000 per room, from Broadreach Capital Partners. The hospitality building was delivered in 1995.
U.S. real estate investment trust (REIT) American Realty Capital Hospitality Trust (ARC Hospitality) has agreed to an investment of up to US$400 million from a real estate private equity fund managed by Brookfield Asset Management.
Calera Capital has acquired a majority stake in Carnegie Fabrics, a provider of sustainable textiles and wall-coverings for the corporate, healthcare, hospitality and education building sectors. No financial terms were disclosed. As a result of the transaction, Cliff Goldman, president of Carnegie Fabrics, will retain a “significant” stake in the company.