COVID-19 and the hotel industry: Investors bracing for long recovery
Expect a long recovery period for hotels hit hard by the COVID-19 pandemic. Members of The Lodging Industry Investment Council -- a think tank representing…
hospitality
Hilton’s first Tempo property will rise in Louisville
Hilton has started construction of its first Tempo by Hilton property, hosting a ground-breaking ceremony in Louisville, Kentucky’s trendy NuLu neighborhood.
JLL Capital Markets closes $12 million refinancing for Minneapolis hotel
JLL Capital Markets has arranged a $12.3 million refinancing for Moxy Minneapolis Uptown, a 125-room Marriott-branded boutique hotel in the Uptown submarket of Minneapolis.
Wisconsin’s NAI Pfefferle names three new shareholders
Appleton, Wisconsin-based NAI Pfefferle recently named three new shareholders.
CBRE arranges sale of 72-room Baymont Inn & Suites in Galesburg, Illinois
CBRE recently represented Auburn Classic Hotel Group, LLC in the sale of Baymont Inn & Suites, a 72-room hotel in Galesburg, Illinois, to Pat Patel.…
CBRE sells Hampton Inn in downtown Indianapolis
CBRE closed the sale of the 180-room downtown Indianapolis Hampton Inn. Peachtree Hotel Group acquired the property from 105 S. Meridian Inc. A purchase price…
Hilton Garden Inn Kansas City wraps major renovation
The Hilton Garden Inn Kansas City Kansas recently completed a multi-million-dollar hotel transformation project, a project that includes refreshed guestrooms, lobby, meeting space, restaurant, fitness…
Petros PACE closes $5.6 million in financing for Omaha hotel projects
Petros PACE Finance, LLC has closed two Commercial Property Assessed Clean Energy (C-PACE) transactions totaling $5.6 million with MH Hospitality, an Omaha, Nebraska developer, owner…
136-room Marriott opening in downtown St. Louis
A 136-room Fairfield by Marriott hotel opened last week in downtown St. Louis as part of a transformation of the Downtown West area of the…
CBRE report: AirBNB, VRBO rentals will impact hotel markets in 2020
Hotel owners have reason to worry about the continued growth of services such as AirBNB and VRBO. Short-term vacation rentals will remain popular in 2020,…