Mergers & Acquisitions - 10 Minutes News for Hoteliers - Page 59

2 min

Peachtree Group Receives USCIS Approval for EB-5 Funded SpringHill Suites by Marriott Development

🏠 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.

2 min

Driftwood Capital Closes $1.2 Billion Hospitality Portfolio Consolidation Across 18 Assets

🏨 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.

Driftwood Capital closes $1.2B portfolio consolidation

🏨 Driftwood Capital finalized a $1.2-billion hotel consolidation, combining 18 hotels with 4,203 rooms across 10 states. Properties include Hilton, Marriott, and Margaritaville brands, with locations in California, Texas, Florida, and more. Financing involved a $330 million senior loan by Wells Fargo and $85 million in preferred equity from ACORE Capital, which manages $19 billion. Notable hotels in the portfolio are Margaritaville Lake Resort with 520 rooms and Marriott San Diego Mission Valley with 353 rooms.

2 min

HREC Arranges Sale of Three Sonesta Hotels in Michigan

🏠 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 expanding its reach in Americas through Royal Holiday Group

🏦 Accor in talks to acquire management of 17 properties across Mexico, Argentina, Puerto Rico, and the U.S., including 3,200 keys. The $79 million deal involves a $130 million renovation over 30 months. Six resorts will join Ennismore's all-inclusive portfolio, with three rebranding as Rixos Hotels. Eleven properties will adopt Swissôtel, Mercure, or ibis Styles branding. Deal closure is anticipated for the second half of the year, pending regulatory approvals.

2 min

Accor and Ennismore Expand Network in the Americas With 17 New Hotels

🏖️ 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.

2 min

Smith Hill Capital and Bain Capital Announce $235 Million Refinancing for Gurney’s Montauk Resort

🏠 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.

Hilton to open a Waldorf Astoria in Turks and Caicos

🏖 Hilton to open Waldorf Astoria Turks and Caicos Dellis Cay in 2028, marking the brand's debut in the Turks and Caicos Islands. The resort and residential development on Dellis Cay will include 175 units—62 hotel guest rooms and suites, plus 113 branded residences, and will be accessible by a 25-minute boat transfer from Providenciales. The residential portion will feature 65 units, including nine six-bedroom ocean villas, eight five-bedroom beachfront villas, and 48 condominium keys. Amenities will include a 13,455-square-foot spa, 1,600-square-foot fitness center, multiple pools, and over 3,000 square feet of event space. Hilton’s current regional pipeline boasts over 130 properties under development in the Caribbean and Latin America.

1 min

The Editory by The Sea Lagos opens in the Algarve

🏖️ The Editory Collection Hotels opened a new five-star property in Lagos, Algarve, with a €63.8 million investment. The Editory by The Sea Lagos, owned by Sonae, features 204 rooms, including two suites, on the Dona Ana Beach shoreline. Amenities include the Coral Restaurant, an Oyster Bar, CRAB_ar, health club, swimming pool, Kids’ Club, and a 120-square-metre meeting space. Launched in 2021 with a €17.5 million investment, The Editory Collection now has 12 hotels in Portugal, aiming for 600 rooms by 2025.

Gurney’s Montauk lands $235M refinancing

🏖️ Smith Hill Capital and Bain Capital completed a $235-million refinancing for Gurney’s Montauk Resort & Seawater Spa. The property, managed by BLDG Management and Metrovest Equities, spans 20 acres with 2,000 feet of beachfront in Montauk, N.Y., featuring 158 keys, five dining venues, 25,000 square feet of meeting/event space, and a 30,000-square-foot spa. JLL arranged the financing, aimed at supporting the resort's position as a luxury destination in a high-demand leisure market.

Input your search keywords and press Enter.