Mergers & Acquisitions

🏨 Aligned Hospitality Management acquired The Kennedy Hotel in Tucson, Arizona, growing its local portfolio to six properties. The Kennedy Hotel, part of the SureStay Collection by Best Western, offers 98 rooms with a nostalgic roadside motel vibe and resort amenities. Area attractions include the University of Arizona and Pima Air & Space Museum. Aligned, with over 40 years of experience, is led by founder and CEO Bryan Tubaugh, who emphasizes the company's commitment to strategic expansion in Tucson.

🏨 Woodvale Opportunity Fund I acquired Southaven Marriott Portfolio for $25 million, including Courtyard Memphis Southaven (85 keys) and Residence Inn Southaven (78 keys), as well as Fairfield Inn & Suites Buford for $11 million, totaling 94 suites. Located in Mississippi and a suburb of Atlanta, respectively, these hotels built in 2007 and 2006 offer amenities for business and leisure with access to local attractions. JLL Capital Markets facilitated the deal with strong expected returns for investors.

🏨 Peachtree Group acquired the 90-room Home2 Suites by Hilton St. Augustine I-95, their sixth Delaware Statutory Trust (DST) hospitality investment, in the Jacksonville, Fla. area. In 2023, they closed their third DST investment following the Residence Inn Tampa Wesley Chapel DST in November. Peachtree's six DST acquisitions represent roughly $175 million in debt-free real estate transactions, targeting high-growth markets with a focus on recognized hotel brands and value-add opportunities for 1031 exchange investors.

🛫 Zurich Insurance Group acquired AIG’s personal travel insurance and assistance business for $600 million with an additional potential earn-out payment, positioning itself as a major global travel insurer. The deal involves AIG’s Travel Guard and combines it with Zurich's Cover-More Group, now operating under Zurich Cover-More brand. New HQ in the US, David Fike as CEO, and the acquisition expands Zurich's global market share in a sector worth $20 billion in gross written premiums, serving over 20 million customers annually and partnering with over 200 distributors. Zurich's SST ratio was affected by 5 percentage points.

📌 NexGen Hotels acquired Fairfield Inn & Suites by Marriott Fort Lauderdale Northwest, a 120-room hotel in Tamarac, Florida, managed by AD1 Global. Located 12 miles from Fort Lauderdale International Airport, amenities include a complimentary breakfast buffet, outdoor pool, 24-hour fitness center, and WiFi. Rooms feature microwaves, mini-refrigerators, Keurig coffeemakers, and 55" TVs. The hotel caters to business and leisure travelers and is close to local attractions and facilities.

💰 PM Hotel Group and Sightline Hospitality announced a strategic merger aimed at expanding PM's Modus by PM Hotel Group through Sightline's experiential travel expertise. The merger will maintain the PM Hotel Group name. The combined entity results from a shared history and values, focusing on performance and opportunity for high performers. The merger brings 22 new properties to PM's portfolio, reaching a total of 85 with expansion in the West Coast mountain regions and the first Hawaiian property. Distinctive brands like RESET and evo Hotels, targeting Millennials and Gen Z, will now be part of the portfolio, reflecting the demographic shift in travelers towards younger generations seeking experiential travel.

🏨 NexGen Hotels, based in Itasca, IL, acquires Fairfield Inn & Suites by Marriott Fort Lauderdale Northwest, located in Tamarac, FL with 120 keys. Managed by Hollywood, FL-based AD1 Global, the hotel is near Colony Golf Course, 12 miles from Fort Lauderdale International Airport, and close to various amenities. The hotel suits both business and leisure travelers, offering amenities like complimentary breakfast and free Wi-Fi. NexGen, founded in 2007, manages a portfolio across the Midwest, Florida, and California.

📌 Driftwood Hospitality Management opened Delta Hotels by Marriott in West Palm Beach, Florida, targeting regional hospitality and economic growth. The launch featured a ribbon-cutting event with COO Bryan Postema, Sagar Desai, Mayor Keith James, and CEO Milton Segarra. Previously a Holiday Inn, the revamped hotel offers a Florida Fusion menu at The Dive Bar, over 8,200 sq ft of meeting space, and proximity to transportation hubs like Palm Beach International Airport and Interstate 95.

🏡 Blackstone Real Estate acquired Grand Hyatt Athens from Henderson Park and Hines for €235 million. The hotel, initially the Ledra Marriott, was purchased in June 2017 and underwent renovations, expanding from 315 to 548 rooms. The hotel now offers 4,400 square meters of conference space and features a rooftop restaurant with Acropolis views. This marks Blackstone's 10th hotel in Greece, where it has invested over €750 million in its portfolio. The sale was advised by JLL and Eastdil Secured.

🏦 Mohari Hospitality acquired Venice's iconic Bauer Hotel, partnering with Omnam Investment Group. The Bauer, located in the San Marco district on the Grand Canal, will be restored; Rosewood Hotels & Resorts will operate it. Mohari reportedly offered €309 million, outbidding LVMH's founder. The hotel was previously owned by Signa. Mohari's portfolio includes recent acquisitions in Paris and Madrid. Advisers included Kryalos SGR, DLA Piper, Deloitte, Eastdil Secured, CBRE, and Cushman & Wakefield.