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Apple REIT merger creates 188-hotel REIT

Apple REIT merger creates 188-hotel REIT

Three Richmond-based real estate investment trust companies (REITs) are being merged into one, creating one of the largest REITs in the U.S. with 188 hotels and 23,490 rooms across the country. The deal to merge Apple REIT Seven Inc., Apple ...

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R.D. Olson to Reposition LAX Office Building

R.D. Olson to Reposition LAX Office Building

IRVINE, Calif.—R.D. Olson Construction is commencing construction on a $44.5 million hotel project, the Residence Inn by Marriott at Los Angeles International Airport (LAX) in Los Angeles, Calif. The general contractor was chosen by new owners, SVI LAX to convert ...

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Year-End Results Show Positive Industry Uptick

Year-End Results Show Positive Industry Uptick

End-of-the-year earnings statements released by major hotel companies show that the industry ended 2013 on a positive note, with gains in RevPAR, occupancy, and ADR. Although some companies saw a drop in fourth-quarter revenues, year-end results for the majority remained ...

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Marriott Opens 317 Room Hotel in Shanghai

Marriott Opens 317 Room Hotel in Shanghai

SHANGHAI—Marriott International continues its expansion in China with the opening of the 317-room Shanghai Marriott Hotel Parkview, bringing the total number of properties in China under the flagship Marriott Hotels brand to 15. Marriott International manages the Shanghai Marriott Hotel ...

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