Development

David Malmberg Named General Manager at the First JW Marriott in the Carolinas

Cambria has signed several franchise agreements since the beginning of the year, adding to its pipeline in major markets such as Jacksonville and Tampa, Florida; Nashville, Tennessee; and Atlanta, Georgia. The brand also broke ground on three new hotels in Austin, Texas; downtown Minneapolis; and Somerville, Massachusetts.

Hard Rock Cafe on the Las Vegas Strip Remains Open for Business

Eldorado Resorts, Inc. (NASDAQ: ERI) announced yesterday it has signed a letter of intent to enter into a $400 million mortgage with VICI Properties Inc. (NYSE: VICI) that is secured by the recently opened Caesars Forum Convention Center in Las Vegas.

Finalized on February 4, 2020, this is the first acquisition by the Ueberroth Family since they purchased Preferred Hotel Group, Inc. in March 2004, and represents the next step in CEO Lindsey Ueberroth's strategic vision to enhance the company's portfolio in making travel a positive force for people and the planet.

-As part of a new three-way venture, BentallGreenOak (BGO), Flank Management LP (Flank), and Geolo Capital (Geolo) today announced the acquisition of the Hutton Hotel in Nashville, Tenn., in an all-cash purchase for an undisclosed price.

Portfolio of Independent and Hilton-Branded Hotels Located in Fla., Okla., and Texas

The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been a symbol of the U.S.-Cuban detente.

Cross-border real estate investors are taking advantage of changing market conditions

InterContinental Hotels Group (IHG) announced the signing of a franchise agreement with Westmont Hospitality Group and funds managed by Oaktree Capital Management, L.P., for a property in the heart of Rome.