Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
Baywood Hotels, based in Columbia, Maryland and led by President Al Patel, acquired the 124-room Hyatt Place Miami Airport-West/Doral in Miami.
The hotel is near Miami International Airport, South Beach, UPS, FedEx, Boeing, and the upcoming Oasis of Doral.
Hunter Hotel Advisors, led by Robert Taylor and Sophia Pittaluga, brokered the sale.
BAYWOOD HOTELS RECENTLY acquired the 124-room Hyatt Place Miami Airport-West/Doral in Miami. Hunter Hotel Advisors, led by Executive Vice President Robert Taylor and Senior Vice President Sophia Pittaluga, brokered the sale, Hunter said in a statement.
“We are excited to execute this deal on behalf of our client,” said Pittaluga. “The asset benefits from airport, leisure and corporate demand, with Baywood positioned in a submarket seeing continued business and residential growth.”
The hotel is near Miami International Airport, Miami International Mall, Trump National Doral’s Blue Monster Golf Course, South Beach, Wynwood, Dolphin Mall, and Marlins Park. Corporate offices including UPS, FedEx, and Boeing contribute to demand, along with the upcoming Oasis of Doral development. The hotel includes 1,127 square feet of meeting space in two rooms, a fitness center, business center and outdoor pool.
Columbia, Maryland-based Baywood, founded in 1975 by Nick Patel with a single motel in Laurel, is now led by President Al Patel.
Nexgen Management, led by CEO Paul Uppal, acquired the four-story, 139-room Hampton Inn & Suites El Paso-Airport in El Paso, Texas.
Hersha Hotels & Resorts sold The Boxer Boston to Eurostars Hotels.
The company acquired the property in 2012 for $12.6 million.
The property now sold for $23.6 million.
HERSHA HOTELS & RESORTS sold The Boxer Boston, an 80-room hotel in Boston’s West End, to Eurostars Hotels, part of Spain’s Grupo Hotusa. The company, which reportedly acquired the property in 2012 for $12.6 million, received $23.6 million for it.
The seven-story hotel, built in 1904, is near TD Garden, the Charles River Esplanade, One Congress, North Station and Massachusetts General Hospital, said JLL Hotels & Hospitality, which brokered the sale. It also has a fitness center.
Hersha Hotels & Resorts is part of the Hersha Group, founded in 1984 by Hasu Shah. Jay Shah serves as senior advisor and his brother Neil Shah is president and CEO.
JLL Managing Director Alan Suzuki, Senior Director Matthew Enright and Associate Emily Zhang represented the seller.
"The Boxer’s prime location at the crossroads of Boston's West End, North End and Downtown districts, combined with its strong cash flow and its unencumbered status regarding brand and management, made this an exceptionally attractive investment," said Suzuki. "Boston continues to demonstrate resilient lodging fundamentals driven by its diverse demand generators, including world-class educational institutions, medical facilities, corporate presence and convention and leisure attractions."
The property will become the Spanish hotel chain Eurostars’ fifth U.S. hotel, supporting the group’s North American expansion, the statement said.
Amancio López Seijas, president of Grupo Hotusa and Eurostars Hotels Co., said the addition of Eurostars’ The Boxer strengthens the company’s presence in key locations and promotes urban tourism.
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Sun acquired the Hyatt Place Albuquerque/Uptown in New Mexico.
The hotel has 1,127 square feet of meeting space, a fitness center and an outdoor pool.
The 126-key, six-story hotel is near ABQ Uptown and Coronado Center.
SUN CAPITAL HOTELS recently acquired the 126-key six-story Hyatt Place Albuquerque/Uptown in Albuquerque, New Mexico, from an institutional owner. Hunter Hotel Advisors brokered the transaction and terms were not disclosed.
The hotel is near ABQ Uptown and Coronado Center, which together total more than 1.4 million square feet of retail space, Sun said in a statement. Demand drivers include EXPO New Mexico, Tingley Coliseum, the University of New Mexico and the city’s convention, cultural and sports facilities. The hotel has 1,127 square feet of meeting space, a business center, a 24-hour fitness center and an outdoor pool.
“This hotel marks our seventh property in Albuquerque and twelfth overall in our portfolio,” said Kholwadwala. “It’s a great asset right in our front yard, in a high barrier-to-entry submarket. My father started out in Albuquerque in 1981 with a small 23-room motel, so this acquisition carries personal meaning as well. Sun Capital Hotels has seven additional hotels in its pipeline and continues to grow through both new builds and acquisitions.”
Brian Embree, vice president in Hunter’s Los Angeles office, facilitated the transaction, the statement said.
Embree said the Hyatt Place is a top-performing hotel in one of Albuquerque’s strongest districts.
“The property is positioned to capture strong demand from retail, entertainment, university and convention activity, as well as Albuquerque’s thriving film industry,” he said.
TMGOC Ventures, Willow Street Capital open ESA Premier Suites – Jacksonville Airport.
The hotel is near UF Health North Hospital and Jacksonville North VA Clinic.
Amenities include a fitness room.
Extended Stay America Premier Suites – Jacksonville Airport is now open in Jacksonville, Florida. The four-story, 124-room hotel was developed by franchisee TMGOC Ventures, led by cofounder and managing partner Sunju Patel and Willow Street Capital.
“This is an exciting addition to our portfolio, especially as Jacksonville continues to show strength across medical, logistics and aviation sectors,” said Patel. “We see the airport submarket evolving rapidly and our decision to bring a purpose-built Extended Stay America Premier Suites to this location reflects our long-term belief in its growth trajectory. We’re proud to introduce a product that supports the needs of both extended-stay guests and the local community.”
Mark Williams, ESA’s managing director for franchise development, said ESA is expanding its Premier Suites footprint and bringing an extended-stay property to Jacksonville.
"This location reflects our commitment to providing exceptional value and comfort for guests who need a reliable place to stay for longer periods, while supporting our franchise partners in strong-performing markets,” he said.
"TMGOC remains focused on developing institutional-quality assets in markets with potential for sustained growth,” said Glenn Alba, TMGOC Ventures' co-founder and managing partner. “The Extended Stay America Premier Suites brand offers value for today’s traveler and we are bringing a property that expands hospitality options in Jacksonville’s Northside.”
In August, Northstar Hotels Management, led by founders Salim Premji, Sapna Premji and Jigar Amin, acquired the 78-room Residence Inn and 81-room Courtyard near Jacksonville International Airport.
Vision recently opened a Hilton dual-brand property in Cleveland, TN.
It is the company’s 44th hotel and 26th in the state.
It recently opened the $60 million Embassy Suites in Chattanooga, TN.
Hilton Worldwide Holdings' dual-brand Home2 Suites and Tru by Hilton are now open in Cleveland, Tennessee. The combined 140-key, five-story property is owned by Vision Hotel Group Inc., led by Founder and CEO Mitch Patel.
It is the company’s 44th hotel and its 26th owned and operated in the state, Vision said in a statement.
“We are excited to officially open this dual-brand property in Cleveland, Tennessee,” said Patel. “This project marks a significant milestone in our continued growth and highlights our strong partnership with Hilton. It also reflects our ongoing commitment to investing in communities that are important to us.”
Vision broke ground on the dual-brand property in May 2024 and completed it on schedule, as announced at the ceremony. The hotel includes 800 square feet of meeting space, an outdoor pool, and public areas for business and leisure guests.
In August, Vision and CBL & Associates opened the 139-room Element Wilmington in Wilmington, North Carolina. The company also opened the $60 million Embassy Suites by Hilton Chattanooga Downtown in Chattanooga, Tennessee.
Spark acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey.
Hunter Hotel Advisors facilitated the transaction with DC Hospitality Group affiliates.
The 2020-built hotel is near William Paterson University and less than 20 miles from Manhattan.
SPARK GHC RECENTLY acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey, from affiliates of DC Hospitality Group. Hunter Hotel Advisors facilitated the deal for an undisclosed amount.
The 2020-built hotel is less than 20 miles from Manhattan in a commercial corridor with major employers including Driscoll Foods, FedEx Group, Advanced Biotech, St. Joseph’s Wayne Hospital, and the Passaic County Administration, Hunter said in a statement. William Paterson University, Willowbrook Mall, and MetLife Stadium are also nearby.
It features an on-site fitness center, business center and indoor pool.
“The Home2 Suites by Hilton Wayne represents the type of asset we target,” said Patel. “Its proximity to major corporate demand generators, higher education institutions, and retail and entertainment venues supports strong performance.”
Hunter’s senior vice presidents, David Perrin and Spencer Davidson, brokered the transaction.
Patel said this is their second transaction with Hunter and praised the process and partnership.
“We look forward to building on the hotel’s recent performance and continuing to deliver guest experiences in the Greater New York City community,” he said.
Northstar Hotels Management recently acquired a 78-key Residence Inn and an 81-key Courtyard near the Jacksonville, Florida, airport.