Skip to content

Search

Latest Stories

Mahaveer buys Detroit Lakes, MN, AmericInn

Marcus & Millichap brokered the property for the buyer

Mahaveer Acquires AmericInn in Detroit Lakes, Minnesota

Mahaveer LLC recently acquired the 46-key AmericInn by Wyndham Detroit Lakes in Detroit Lakes, Minnesota.

Photo credit: Wyndham Hotels & Resorts

Summary:

  • Mahaveer acquired the 46-key AmericInn by Wyndham in Detroit Lakes, Minnesota.
  • The seller is Thief River Falls, Minnesota–based Cwikla Hospitality LLC.
  • The hotel, built in 1995 sits on a 3-acre site on U.S. Highway 10.

MAHAVEER LLC, ACQUIRED the 46-key AmericInn by Wyndham Detroit Lakes in Detroit Lakes, Minnesota, from Cwikla Hospitality LLC for an undisclosed price. Marcus & Millichap brokered the property for the buyer.


The hotel, built in 1995, sits on a 3-acre site, Marcus & Millichap said in a statement. It has an indoor pool, meeting room and business center.

Mahaveer is based in Albany, New York.

“After previous marketing efforts by the seller did not result in a sale, we were able to leverage the Marcus & Millichap platform to connect with qualified buyers and renew interest in the property, ultimately bringing the deal to a successful close,” said Brock Banken, Marcus & Millichap investment specialist. “The new ownership plans to renovate guest rooms, common areas and the exterior, and take a hands-on approach to operations to improve performance. With Detroit Lakes’ status as a year-round destination and its strong seasonal demand, the market is well-positioned for continued growth.”

Northstar Hotels Management acquired the 78-key Residence Inn and 81-key Courtyard near Jacksonville, Florida.

More for you

Hideaway Inns Mt. Sunapee

Hideaway Inn opens in Mt. Sunapee, NH

Summary:

  • Hideaway Inns opened the 56-room Hideaway Inn Mt. Sunapee in New Hampshire.
  • The hotel is managed by Revival Hotels.
  • Both companies are led by founder and CEO Saxton Sharad.

Hideaway Inn Mt. Sunapee is now open in Mt. Sunapee, New Hampshire. The 55-room hotel was developed by Hideaway Inns and is managed by Revival Hotels, both led by founder and CEO Saxton Sharad.

Keep ReadingShow less
Exterior view of Novotel London West in Hammersmith acquired by Arora Group

UK’s Arora, Deva buy Novotel London West

Summary:

  • Arora Group and Deva Capital acquired Novotel London West in Hammersmith.
  • The deal expands Arora’s London portfolio, including the InterContinental London – The O2.
  • In July, the group also acquired Bloc Hotels, a short-stay operator.

UK-BASED ARORA GROUP and Deva Capital recently acquired the 630-room Novotel London West in Hammersmith. It is Arora’s second London deal, taking its portfolio to more than 20 hotels and 8,000 rooms.

Keep ReadingShow less
The Boxer Boston hotel sold by Hersha Hotels to Eurostars Hotels for $23.6 million
Photo Credit: The Boxer Boston

Hersha sells ‘Boxer Boston’ to Eurostars

Summary:

  • 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.

Keep ReadingShow less
Sun Capital Hotels acquisition
Photo credit: Hyatt Hotels Corp.

Sun acquires Albuquerque, N.M., Hyatt Place

Summary:

  • 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.

Keep ReadingShow less
Extended Stay America Premier Suites Jacksonville Airport hotel

ESA Premier Suites opens in Jacksonville, FL

Summary:

  • 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.

Keep ReadingShow less