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Average Selling Price Per Room on the Rise

Average Selling Price Per Room on the Rise

The competition for properties in certain markets is heating up among buyers, as REITs and private equity groups with similar strategic objectives compete for large, high-end hotels in the central business districts of major cities—key areas that have experienced a ...

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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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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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Marcus and Millichap Closes 11 Hotel Transactions in July

Marcus and Millichap Closes 11 Hotel Transactions in July

CHICAGO—Marcus and Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, closed 11 hotel transactions in the month of July totaling more than $59 million. This represented a 29 percent increase in transaction volume and a ...

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