NATIONAL REPORT—Hotels are in the works in San Francisco; Seattle; Orlando, FL; and San Diego. Here’s more on the recent developments:
Kimpton Hotels & Restaurants Expands Portfolio in San Francisco
Kimpton Hotels & Restaurants will have a new property in San Francisco, a 248-room hotel in Fisherman’s Wharf. When it opens this summer, the Kimpton Alton Hotel will join two other Kimpton San Francisco hotels.
The luxury boutique hotel rooms will have views of the Pacific Ocean, Alcatraz and the Golden Gate Bridge. Kimpton’s Global SVP of Design Ave Bradley will spearhead the creative vision for the project, in partnership with interior designer Kara Mann and Arcsine Architects.
Lotte Hotel Seattle Set to Open in June
Lotte Hotels & Resorts is set to open Lotte Hotel Seattle, its 31st branch in the world and only its second in the U.S., this coming June. Lotte Hotel Seattle will be located in the F5 Tower in downtown Seattle, close to the Tacoma International Airport. The 44-story hotel will have 189 guestrooms (including 31 suites). French designer Philippe Starck is in charge of the interior design.
HSF Closes Loan to Finance Construction of Four Hotels in Florida
Dallas-based Hall Structured Finance (HSF) has closed a new first lien construction loan totaling $140 million to finance the construction of four new hotels containing 997 rooms at Flamingo Crossings Town Center, located at the western entrance of Walt Disney World Resort in Orlando, FL. The four hotels will include a 223-room Residence Inn by Marriott, a 273-room Fairfield Inn by Marriott, a 229-room Homewood Suites by Hilton and a 272-room Home2 Suites by Hilton.
All four hotels are being developed simultaneously by real estate developer Doradus Partners within its hospitality fund and are expected to be completed in fourth quarter 2020. Flamingo Crossings Town Center is a new development that includes hotels, retail, dining and housing for students participating in Disney Internships and College Programs.
Pebblebrook and Margaritaville Reveal Upcoming West Coast Resort
Pebblebrook Hotel Trust and Margaritaville Enterprises LLC have revealed the global lifestyle brand’s second West Coast resort, The Margaritaville Hotel San Diego Gaslamp Quarter. The property is expected to open in 2021 in downtown San Diego.The resort will be close to Petco Park and the San Diego Convention Center.
The site of the property is currently home to Solamar Hotel. Following renovations and a full conversion of the existing hotel, estimated at approximately $20 million, the Margaritaville Hotel San Diego Gaslamp Quarter will come to life. Pebblebrook acquired the Solamar Hotel in 2018 and will assist with the transition along with the resort’s current management company, Davidson Hotels & Resorts. Davidson Hotels & Resorts will operate the property as Solamar Hotel until the hotel is reflagged and will continue to manage the property following the completion of the renovation and rebranding program.