Supertel Hospitality announced that it had converted $64.6 million of variable rate debt to an average fixed rate of 5.9 percent for the remaining term of 8.8 years.
Mumford Company Closes the Sale of the Hampton Inn of Somerset Pennsylvania Somerset, PA – The Mumford Company is pleased to have once again represented affiliates of Virginia Inn Management in the sale of the Hampton Inn of Somerset, Pennsylvania to Whispering Hospitality, LLC.
The 80-suite extended-stay property in Lubbock, Texas, was acquired by SA Laredo Enterprises from Lion ES Hotels II for an undisclosed price.
In the first quarter of 2008, InterContinental Hotels Group saw a 3.5 percent growth in revenue per available room, increased the number of rooms in its system by more than 5,200, and signed more than 150 hotels into its development pipeline.
Molinaro Koger marketed and structured the sale of the 234-room Sheraton Hotel Iowa City on behalf of Ashford Hospitality Trust for an undisclosed amount to a joint venture of Davidson Hotel Co. and RockBridge Capital, LLC.
One of the hotel industry’s most comprehensive and affordable insurance programs has been introduced to franchisees of Atlanta-based America’s Best Franchising Incorporated.
First quarter 2008 total revenue for Lodgian's 35 continuing operations hotels improved 2.2 percent to $56.0 million, compared to the 2007 same period.
The Four Points by Sheraton Manhattan Chelsea is Marshall's fourth managed hotel in New York under an agreement with The Lam Group.
The 73-room Best Western Smyrna Inn, Smyrna, Del., is owned by Smyrna Hospitality LLC.
The Mumford Co. represented the David Drye Co. in the sale of the Sleep Inn of Concord, N.C., to S D Hospitality Inc. for an undisclosed amount.
Mumford Co. represented the James family in the sale of the Ramada Inn of Louisville, Ky., to Quadrant Hospitality for an undisclosed price.
The Sanford,Fla property was purchased by Apple Hospitality REIT.
Nakheel Hotels has acquired 50% interest in The Fontainebleau Miami Beach for $375 million.
The 126-suite AmeriSuites hotel in Chicago/Schaumburg will undergo a $5 million repositioning and reopen as Hyatt Place Chicago/Schaumburg later this year.
MMolinaro Koger facilitated the marketing and sale of the former Fairfield Inn Virginia Beach Town Center on behalf of Virginia Beach Hotel, LLC. for an undisclosed sum to Accor North America, which will reflag it as a Motel 6.
An extensive refurbishment of the hotel property is planned, which will then operate as a Studio 6 under a long-term license agreement.
The Elkins Park, Pa.-based firm has closed on the sale of 69-room property in Bethel, Conn.
The resort real estate event reported on the industry's dramatic growth.
On April 24, Starwood Hotels & Resorts Worldwide will release its first-quarter financial results prior to market open, followed by a conference call at 10:30 a.m. EDT.
RockBridge Capital announced the closing of a $17.3 million first mortgage investment in the 139-room Hotel Sierra in Branchburg, N.J.
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