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Strategic Hotels and Resorts Completes Exit from Europe

Strategic Hotels and Resorts Completes Exit from Europe

CHICAGO—Strategic Hotels and Resorts Inc. has announced the closing of the sale of the Marriott London Grosvenor Square hotel and the acquisition of the remaining 50 percent ownership interest in the Fairmont Scottsdale Princess. Combined with the previously completed sale ...

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Hyatt to Introduce Two New Brands to China

Hyatt to Introduce Two New Brands to China

CHICAGO—As the first Hyatt Place hotel in China prepares to open in May, Hyatt Hotels Corporation announced several new Hyatt Place and Hyatt House projects that will introduce these two Hyatt brands to China. “With the introduction of the Hyatt ...

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RLJ Lodging Trust Sells Additional Hotel for $14.1 Million

RLJ Lodging Trust Sells Additional Hotel for $14.1 Million

BETHESDA, Md.—RLJ Lodging Trust has sold an additional non-strategic hotel, the 182-room Hilton Mystic in Mystic, Conn., for approximately $14.1 million or $77,200 per key. The sale price represents approximately a 7.4 percent capitalization rate on the hotel’s projected 2014 ...

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U.S. Construction Pipeline Finally Gains Some Traction

U.S. Construction Pipeline Finally Gains Some Traction

After being locked in a bottoming formation for nine quarters, the U.S. construction pipeline increased in 2013 to 3,020 projects with 382,958 rooms. This represents a year-over-year (YOY) increase of 10 percent by projects and 12 percent by rooms and ...

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The Verb Hotel to Launch in Fenway Location

The Verb Hotel to Launch in Fenway Location

BOSTON—The Verb, opening summer 2014, sees the dynamic reimagining of a classic mid-century motel, which will reconnect it with the rich musical and artistic roots of Boston’s Fenway neighborhood. Building on the legacy that began when the Fenway Motor Hotel ...

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