INTERNATIONAL REPORT—Banyan Investment Group, Waramaug Hospitality and Rockbridge are among those purchasing hotel properties. Here’s a look:
Banyan Investment Group Acquires Three in WI
Banyan Investment Group has completed the acquisition of a three-hotel portfolio of Marriott- and Hilton-branded hotels located in Madison, WI, for approximately $50 million. Additionally, the company will operate the portfolio, comprising the 127-Room Courtyard by Marriott Madison East, 130-Room Fairfield Inn & Suites Madison East and 115-Room Hampton Inn Madison East Towne Mall Area.
Waramaug Acquires Embassy Suites by Hilton Dallas
Waramaug Hospitality has acquired the Embassy Suites by Hilton Dallas Park Central Area located in Dallas. The 279-suite hotel has two-room suites with separate living and sleeping areas, free WiFi, fitness and business center, indoor pool and approximately 7,800 sq. ft. of flexible meeting space. The company is planning a comprehensive renovation of the property. Interstate Hotels & Resorts will manage the property.
Rockbridge Acquires Hilton in Downtown Knoxville
Rockbridge has acquired the 320-room Hilton Knoxville Hotel in downtown Knoxville, TN. PM Hotel Group will manage the property. The hotel includes the Marble City Kitchen restaurant, the Firefly outdoor bar and lounge, Starbucks, more than 14,500 sq. ft. of meeting space, including a 7,000 sq. ft. ballroom, 24-hour fitness center and pool. A renovation is planned which will touch many aspects of the property, including guestrooms and suites, lobby areas, and exterior.
Hoteles City Express Acquires City Express Chihuahua Hotel
Hoteles City Express, S.A.B. of C.V. has acquired the City Express Chihuahua hotel and removed the City Express Junior Chihuahua hotel from its inventory. Through the purchase agreement signed on May 22, Hoteles City Express agreed to acquire the Hotel City Express Chihuahua from Deutsche Bank México, S.A., Institución de Banca Múltiple, División Fiduciaria F/1616. The hotel, which was operated by Gestor de Activos Prisma, SAPI de CV under a franchise agreement, will now be operated by Operadora de Hoteles City Express to optimize its performance. In addition, Hoteles City Express will remove the City Express Junior Chihuahua hotel from its inventory, which was also operated under a pure franchise agreement. The latter is due to the sale of the property to a third party.