Crystal Investment Property Facilitates the Sale of Cannery Pier Hotel – Astoria, OR
Bringing Together the Principals in the Sale of This Historic Luxury Waterfront Hotel
Development
DoubleTree by Hilton Toyama to Open in 2022
Hilton (NYSE: HLT) today announced that the company entered into a management agreement with Ikeda Hotel Management Co., Ltd. to open DoubleTree by Hilton Toyama in 2022. This is the first property for Hilton in the Hokuriku region, located in northwest Japan.
The Clan Hotel Singapore to Open Q2 2020
Far East Hospitality today held a press conference at ITB Asia 2019, where Mr Arthur Kiong, Chief Executive Officer, Far East Hospitality, introduced upcoming modern luxury hotel – The Clan Hotel Singapore.
Marriott International Purchases W New York – Union Square for $206 Million
Marriott International, Inc. (NASDAQ: MAR) today announced that it has purchased the 270-room W New York – Union Square in the heart of Manhattan’s dynamic Union Square neighborhood. The company paid $206 million for W New York – Union Square, with plans for a significant renovation.
Radisson Hotel Group Announces First Radisson-Branded Hotel in Russia
Radisson Hotel Group announced the signing of the first Radisson-branded hotel in Russia. Set to arrive in the Urals region of the country, the newly built Radisson Hotel Perm will have 150 rooms and is due to open in late 2021.
Choice Hotels Expands Presence in Japan with More Than 30 New Hotels Expected to Open by 2033
Choice Hotels International, Inc. (NYSE: CHH) has signed a 10-year extension of its existing master franchising agreement with Choice Hotels Japan and expects to open more than 30 new Comfort hotels in the market by 2033.
MGM Resorts International Sells Circus Circus Las Vegas For $825 Million
MGM Resorts International (NYSE:MGM) today announced that it has entered into a definitive agreement to sell Circus Circus Las Vegas for $825 million to an affiliate of Treasure Island owner Phil Ruffin. For the 12 months ending June 30, 2019, the property reported Adjusted Property EBITDA of $62 million.
Wyndham Garden to Make Australian Debut in Brisbane
The 120-room Wyndham Garden Suites Spring Hill Brisbane, scheduled to open in September 2021
Bellagio Sold to Blackstone for $4.25 Billion
MGM Resorts International (NYSE: MGM) announced that it has entered into a definitive agreement to form a joint venture with Blackstone Real Estate Income Trust that values the real estate of Bellagio at $4.25 billion, which represents a purchase price multiple of 17.3x rent.
IHG Announces First Hotel Signing in Guam
IHG has made its foray into Micronesia following the signing of an agreement with owner Tan Holdings to take on management of Fiesta Resort Guam. The hotel will join the IHG system from today and will rebrand as Crowne Plaza Resort Guam in early 2021, following an extensive, multi-million dollar refurbishment.