Hotels / Motels / Cruise Lines
Pebblebrook Hotel Trust:Says it has acquired the Radisson Hotel Fisherman's Wharf and Retail for $132.0 million.Says the 355-room hotel, which includes approximately 44,000 square feet of street retail space, is located in the heart of Fisherman's Wharf in San Francisco, CA.Says property will be managed by Davidson Hotels & Resorts.
Chatham Lodging Trust:Says it has acquired the 160-room SpringHill Suites by Marriott Savannah Downtown/Historic District for $39.8 million, plus customary acquisition and closing costs.Says it funded the purchase with available cash and borrowings on its secured revolving credit facility.
Intercontinental Hotels Group PLC:Says it has acquired a new asset in Brooklyn, N.Y., that the company will develop as a new hotel under its EVEN Hotels brand.
Grupo Mexicano de Desarrollo SAB gives details on tender offer to acquire 42.26 pct stake in GMD Resorts SAB
Grupo Mexicano de Desarrollo SAB (GMD):Says it has presented a tender offer to acquire up to 59,144,822 shares of GMD Resorts SAB (GMDR), representing a 42.26249159 percent stake.Says together with 80,801,546 shares that GMD agreed to acquire from the shareholders of GMDR under the previous agreements of sale, simultaneously and on the same terms and conditions as presented in the tender offer, will represent 100% of GMDR’s shares.Says the exchange ratio will be one GMD share for each 2.09 GMDR shares.Says the price for GMDR share based on exchange ratio is 5.15 Mexican pesos.Says the subscription price for GMD share is 10.77 Mexican pesos.Says the offer period is from Nov. 13 to Dec. 11.
DiamondRock Hospitality Co announced that it has completed the sale of the Torrance Marriott South Bay. The Company sold the 487-room Torrance Marriott South Bay, to an unaffiliated third party for proceeds of approximately $76 million, including credit for the hotel's replacement reserve.
American Hotel Income Properties REIT LP Announces Closing Of Hotel Portfolio Acquisition, November 2013 Cash Distribution And Signing Of Long Term Railway Contract At Property In Jefferson City
American Hotel Income Properties REIT LP announced the closing of its previously announced acquisition (the Acquisition) of a portfolio of four hotel properties (the Acquisition Properties) located in metropolitan Pittsburgh, Pennsylvania for a total purchase price of approximately USD57.3 million (before customary closing and post-closing acquisition adjustments and the funding of a USD6.0 million restricted cash reserve for brand mandated property improvement plans (the PIPs) related to the Acquisition Properties). AHIP announced the cash distribution of CAD0.075 per Unit for the period of November 1, 2013 to November 30, 2013, which is equivalent to CAD0.90 per Unit on an annualized basis. The distribution will be paid on December 16, 2013 to unitholders of record at the close of business on November 29, 2013. AHIP further announced the signing of a long-term contract with a national rail company for its previously purchased 77 room hotel in Jefferson City, Missouri. Renovations to bring the property up to Oak Tree Inn standards are expected to be completed by January 2014, at which time the rail contract, guaranteeing the majority of guestrooms, will commence.
OUE Ltd announced that it has through its indirect wholly owned subsidiary company, Clovis Singapore Pte. Ltd. (formerly known as LOC Korea Investment Pte.Ltd.), acquired on November 15, 2013 the issued and paid up capital of the Clovis Properties Corp.
SoTHERLY Hotels Inc announced that the Company has acquired the entity which owns the Crowne Plaza Houston Downtown Hotel (the "Hotel") for $30.65 million in cash and 32,929 units of limited partnership interests in Sotherly Hotels LP, plus an additional cash amount for the Hotel's working capital as of the closing date. The 259-room, upscale, full-service hotel is located in downtown Houston, Texas. The property will be managed by Chesapeake Hospitality.
Reuters reported that Indian Hotels Company Ltd will not pursue its $1.2 billion bid to acquire Orient-Express Hotels Ltd, it said. The Company said the board had decided not to pursue the offer after taking into account all factors, including the current economic environment and other opportunities and priorities.