NATIONAL REPORT—Hotel acquisitions are heating up across the country as the industry forecast remains positive. RLH Corporation completed its takeover of Knights Inn and there’s more.
RLH Corp. Closes Acquisition of the Knights Inn
RLH Corporation has closed its acquisition of the Knights Inn brand from Wyndham Hotel Group LLC, a subsidiary of Wyndham Worldwide.
The company acquired approximately 350 economy segment franchise contracts across North America and a pipeline of additional contracts. The acquisition is another step in RLH Corporation’s transformation into an asset-light franchised hotel company. The company expects the transaction will be immediately accretive to the company’s earnings and cash flow.
MCR Buys Hilton Garden Inn in Ohio
The 84-room Hilton Garden Inn Cincinnati Northeast is located in the northeast Cincinnati business corridor off Interstate 275 and near major corporations including International Paper, Siemens, Tata Consultancy Services, Hershey, Nestle and Kellogg’s. Also proximate is the Oasis Golf and Conference Center, the 70-mile Loveland Bike Trail and Kings Island amusement park.
Among the highlights:
- Guestrooms with Garden Sleep System beds and ergonomic workstations
- Free WiFi
- A fully equipped fitness center with an indoor pool
- Two meeting rooms that can host up to 80 people
- A 24-hour business center with free copying services
- The Garden Grille and Bar, which offers room service and the Pavilion Lounge cocktail bar
- A 24-hour convenience store
Scarlett Hotel Group Buys Marriott Fairfield Inn & Suites Downtown Omaha in Nebraska
Scarlett Hotel Group’s third property, the 113-room, four-story Fairfield Inn & Suites Downtown Omaha recently completed a renovation, including upgrades to all public spaces, as well as a completely revamped lobby and guestrooms.
“We seek to aggressively grow through all phases of the real estate cycle and have access to substantial capital for the right deals. We are ‘market-unistic’ and seek primary locations in secondary markets or secondary locations in primary markets,” said Zio Pekovic, SHG principal. “To date, we have acquired $55-million worth of hospitality estate and will continue on that trajectory for 2018.”