Mergers & Acquisitions

🏠 Dubai Holding has acquired the five-star Jumeirah Mallorca in Spain. The clifftop resort, located above Port de Sóller, boasts 121 rooms, LEED Platinum certification, and amenities like four F&B venues, a spa, and fitness center. With this purchase, Dubai Holding's portfolio grows to 34 hotels, including five Jumeirah properties in Europe. They plan further investment to make it a flagship Mediterranean destination.

🏠 Noble Investment Group announced the acquisition of a 14-property portfolio on October 23, 2023, in Atlanta, Georgia. The properties, all WoodSpring Suites, are located in high-growth U.S. markets. This move aligns with Noble's Branded Long-Term Accommodations strategy. Noble has invested over $6 billion in real estate, supporting job creation for three decades. The firm focuses on institutional capital deployment to generate long-term income and value.

🏠 Cronheim Hotel Capital (CHC) secures $40MM+ for constructing Nittany Residence Club, a 70-unit luxury condominium-hotel near Penn State's main campus. Located in State College, it's the borough's first condo-hotel allowing owners rental income. Strong pre-sales reported due to limited hotel supply. Scholar Hotels will manage operations. The project offers amenities like 24/7 security and fitness center. Spearheaded by Penn State alumni, it combines residential and hospitality elements.

🏨 The Cricklade House Hotel and Spa in Wiltshire is on sale for £3.5m. Purico Group, the main shareholder since 2018, invested £1.5m in upgrades. The property features 45 guest rooms, the Fritillary Spa, and extensive leisure facilities like tennis and golf courses. It also offers event spaces for up to 120 guests. Situated on 29 acres, the sale is managed by Christie and Co, providing a unique investment opportunity.

🏨 HEI Hotels & Resorts has acquired four Marriott-branded properties in Lake Buena Vista, Orlando, Florida, adding 1,590 rooms to its portfolio. The portfolio includes the 490-room Sheraton Orlando Lake Buena Vista Resort and three hotels in the Marriott Orlando Village complex with 1,100 rooms. The Sheraton is undergoing renovations. These hotels, close to major theme parks, offer extensive amenities. HEI, based in Norwalk, Connecticut, manages approximately 100 upscale hotels across the U.S.

🏨 Noble Investment Group has acquired 14 WoodSpring Suites hotels in high-growth markets, following a previous acquisition of 16 similar hotels in May. This strategic move is part of Noble's focus on Branded Long-Term Accommodations, enhancing its presence in the extended-stay segment. The portfolio was bought below replacement cost through an off-market process, requiring minimal capital investment. This transaction aligns with Noble's strategy of scaling operations through disciplined underwriting and direct acquisitions.

🏨 Hunter Advisors sold the Courtyard and Residence Inn Knoxville Cedar Bluff hotels in Knoxville, Tennessee. Situated off I-75 and I-40, these 78-key, three-story Marriott hotels are near key regional attractions and over 200 restaurants. The Courtyard offers a Bistro and meeting space, while the Residence Inn caters to extended stays with in-room kitchenettes. Tim Osborne, senior VP, noted Cedar Bluff’s strong performance, attracting investor interest due to location and market strength.

🏠 ATLANTA, Georgia—Noble Investment Group announced the acquisition of 14 WoodSpring Suites properties, part of their branded long-term accommodations strategy. These properties are located in diverse U.S. markets and represent a core component of Noble’s BLTA growth pipeline. The acquisition reflects Noble's focus on high-quality assets through off-market sourcing, aiming for durable income and long-term value. Dustin Fisher, principal at Noble, highlighted the minimal near-term capital requirements and strong operating foundation of these assets.