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Carey Watermark Acquires Courtyard Times Square West

Carey Watermark Acquires Courtyard Times Square West

NEW YORK—Carey Watermark Investors Incorporated, a non-traded real estate investment trust focused on investing in lodging properties, announced that it has acquired the Courtyard Times Square West, a 224-room select-service hotel in Midtown Manhattan. CWI’s total investment in the property ...

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Recovery Accelerates with Strong Growth in Group Demand

Recovery Accelerates with Strong Growth in Group Demand

NEW YORK—An updated lodging forecast released by PwC US anticipates lodging recovery will enter a new phase, with continued strengthening in group demand and rebounding economic momentum supporting a solid 6.5 percent RevPAR growth in 2014. Despite a weak first ...

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Northstar and Chatham to Acquire Innkeepers Portfolio

Northstar and Chatham to Acquire Innkeepers Portfolio

PALM BEACH, Fla.–Cerberus Capital Management and Chatham Lodging Trust reached an agreement to sell their Innkeepers joint venture for $1.3 billion. Northstar Realty will acquire Cerberus Capital Management’s 89.7 percent interest in the joint venture, and Chatham will retain its ...

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Hersha Hospitality Trust Closes Sale of Hotel 373

Hersha Hospitality Trust Closes Sale of Hotel 373

PHILADELPHIA—Hersha Hospitality Trust announced that the company has closed on the previously-announced sale of Hotel 373 in midtown Manhattan for $37 million, or approximately $529,000 per key. “The successful closing of the sale of Hotel 373 at attractive pricing highlights ...

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