Mergers & Acquisitions

🏨 Marriott International is acquiring lifestyle hotel brand citizenM for $355 million, closing expected in 2025 pending US regulatory approval. The deal may include additional earn-out payments up to $110 million based on future brand growth, commencing from the fourth year post-closing. CitizenM's current portfolio boasts 36 hotels with 8,544 rooms, plus three under construction set to open by mid-2026. Forecasted stabilized fees for the portfolio are roughly $30 million annually.

🏨 Coury Hospitality expands its Vin Hotel Collection with the flagship Hotel Vin in Grapevine, Texas adding 120 guest rooms and 26 suites by late 2025, totaling 240 rooms, and introducing Hotel Vin Pinnacle Hills in Rogers, Arkansas, opening in summer 2026. The $72 million+ Hotel Vin Pinnacle Hills will feature 125 rooms, a rooftop bar, over 10,000 square feet of event space, and amenities such as marble bathrooms and designer toiletries.

📌 KHP Capital Partners closed on $300 million for its sixth real estate fund, with three investments made to date: 240-room hotel conversion in Charlotte, North Carolina, a lifestyle hotel in Seattle, Washington, and the Hotel Viking in Newport, Rhode Island as of April 17. The fund aims for 8-10 projects, translating to ~$1 billion in buying power. Over 10 years, KHP's equity under management reached $1 billion, owning 16 hotels with two additional hotel credit investments. Rowe, Depatie, and Long founded KHP in 2015.

🏠 Peachtree Group received I-956F approval from USCIS for the SpringHill Suites by Marriott construction in Bryce Canyon, Utah. They provided $16.95 million in construction financing for the 127-room hotel, expected to complete by mid-2025, 10 minutes from the national park. This is the firm's third hotel development with I-956F approval after Boone, North Carolina, and Palmdale, California projects. Peachtree's EB-5 program, launched in 2023, offers foreign investors green cards for $800,000 investments creating at least 10 full-time jobs.

🏨 Driftwood Capital closed a $1.2 billion consolidation of 18 Hilton, Marriott, and Margaritaville-branded hotels across 10 states, totaling 4,203 keys. Wells Fargo led the financing with a $330 million securitized senior loan and ACORE Capital provided $85 million in preferred equity. The portfolio, which has seen nearly $370 million in renovations and development, includes the 520-key Margaritaville Lake Resort Lake of the Ozarks, the 353-key Marriott San Diego Mission Valley, and other key properties in high-growth markets such as California, Texas, and Florida. The transactions form part of Driftwood's strategy for building high-quality hotel portfolios and represent over $2 billion in recent recapitalizations.

🏠 HREC Investment Advisors orchestrated the sale of three Sonesta hotels in Michigan: the 94-room Sonesta Simply Suites Detroit – Novi, the 122-room Sonesta Select Detroit – Novi, and the 148-room Sonesta Select Detroit – Auburn Hills. The unknown Michigan-based hotel owner/operator acquired the properties represented by HREC, who acted on behalf of Service Properties Trust (SVC), owning over 206 hotels with more than 35,000 guest rooms as of December 31, 2024. The hotels offer proximity to local attractions, businesses, and healthcare facilities, enhancing their value to both business and leisure travelers.

🏖️ Accor in exclusive negotiations to acquire 17 management agreements, totaling 3,200 keys, with Royal Holiday Group for $79 million, funding a $130M renovation within 30 months. Six resorts in Mexico to be managed by Ennismore and eleven in Mexico, Argentina, Puerto Rico, USA by Accor PM&E Americas. Rixos Hotels to debut in the Americas post-renovation, with three properties in Cancun, Cozumel, Puerto Vallarta. The deal, fostering regional growth and brand presence, especially in Mexico, is expected to close in the second semester of the year.

🏠 Smith Hill Capital and Bain Capital completed a $235 million refinancing for Gurney’s Montauk Resort & Seawater Spa in Montauk, New York. The 158-key oceanfront property includes 109 guestrooms, 35 suites, 8 cottages, 6 residences, 5 dining venues, a 30,000 square foot spa with 4 pools, a 20-treatment room facility, a salon, a fitness center, and 25,000 square feet of meeting space. JLL represented the sponsors in the financing of this 20-acre luxury resort.