Skip to content

Search

Latest Stories

Stonebridge Cos. acquires five-property portfolio nationwide

The U.S. portfolio includes select-service, extended-stay, and full-service hotels

Stonebridge Cos. acquires five-property portfolio nationwide

STONEBRIDGE COS. JUST acquired five properties, totaling a 1,200-key portfolio across the U.S. in late November. The Denver-based hotel operator plans to execute capital improvements at each property, with three having undergone recent renovations.

With a current nationwide portfolio of more than 14,000 rooms, the company is actively pursuing additional expansion opportunities, Stonebridge said in a statement.


“Our completion of this transaction was notably fulfilling given the size of the portfolio, the multiple moving parts, and the speed with which we finalized the deal,” said Navin Dimond, CEO and founder of Stonebridge. “We look forward to continuing our strategic growth with the acquisition of these properties across the U.S.”

With this transaction, Stonebridge reenters the greater Phoenix market via the acquisition of Embassy Suites in Flagstaff, Arizona, Stonebridge said. Moreover, the company enters the North Carolina and Georgia markets through the purchase of Marriott Research Triangle Park in Durham, North Carolina, and W Downtown in Atlanta.

The remainder of the portfolio includes properties in established Stonebridge markets, demonstrating the company's expansion efforts, the statement added. These properties consist of the Embassy Suites in Walnut Creek, California, and a full-service Marriott in Bridgewater, New Jersey.

“It's significant to expand in existing markets and grow in new markets with these cash-flowing hotels within the Hilton and Marriott families," said Steve Kakaty, chief investment officer of Stonebridge. "We're adding these properties, which offer both renovation and operational upside, to our portfolio."

Founded in 1991 by Dimond, Stonebridge diverse portfolio includes select-service, extended-stay and full-service hotels in markets throughout the U.S.

In July, Stonebridge received the Hilton 2022 Americas Development Award for adapting The Slate Denver, Tapestry Collection by Hilton. The hotel, located in downtown Denver, has 251 rooms and was converted from the former Emily Griffith Opportunity School building.

More for you

Trump’s One Big Beautiful Bill Act Pass Senate in 51–50 Vote

Trump’s “Big, Beautiful Bill” passes Senate

Summary:

  • U.S. Senate narrowly passes “One, Big, Beautiful Bill Act.”
  • AAHOA thanks lawmakers, cites tax certainty and flexibility for small business owners.
  • Bill faces tougher path in House amid divisions within Trump’s party.

THE U.S. SENATE on Tuesday narrowly passed President Donald Trump’s flagship legislation, the ‘One Big Beautiful Bill Act’ (H.R. 1), which includes tax breaks and spending cuts the administration says will benefit U.S. citizens. AAHOA backed its final passage in both chambers of Congress, although concerns remain about the inclusion of a remittance tax that could impact Indian Americans.

Keep ReadingShow less
Red Roof partners with FreedomPay to streamline payments in 700+ U.S. hotels
Photo credit: Red Roof

Red Roof taps FreedomPay for 700+ hotels

Summary:

  • Red Roof is contracting with FreedomPay to provide payments across its 700+ U.S. hotels.
  • The company will gain an integrated solution, improved service, cost savings and efficiency.
  • The company is investing in people and technology to advance the brand, president Zack Gharib told Asian Hospitality.

RED ROOF IS contracting with FreedomPay to provide payments across its portfolio of more than 700 hotels in the U.S. The company will receive an integrated payment solution, upgraded service, cost savings and operational efficiency, according to a statement.

Keep ReadingShow less
Gen Z Shifts Hotel Shopping: Tech, Experiences & Values

Survey: Gen Z redefines hotel shopping

Summary:

  • Younger consumers are redefining hotel discovery through platform-hopping and peer input, according to SOCi.
  • Fragmented search and discovery are reshaping how trust is built.
  • About one-third of consumers aged 18–34 report less brand loyalty than a year ago.

GEN Z IS RESHAPING hotel shopping through multiple platforms, peer input and real-time research, according to SOCi, a marketing platform for multi-location businesses. Unlike previous generations who relied on a single search engine or map app, the younger consumer moves through a series of smaller decisions - starting on TikTok, checking Reddit or Yelp and ending with a Google Maps search.

Keep ReadingShow less
Hotel Tech Advances; Outpaces Operational Readiness

Report: Tech outpaces readiness in hotels

  • A gap is growing between technological potential and operational readiness, with many hotel teams still early in AI use.
  • Distribution teams are evolving with limited resources and uneven investment in talent and automation.
  • The report outlines how commercial teams in hospitality are managing transformation.

THERE IS A widening gap between technological potential and operational readiness, with many hotel staff still early in using AI effectively, according to “The State of Distribution 2025” report. Despite the availability of technology, training, systems and workflows remain in development.

The second edition of the industry benchmark report—published by NYU SPS Jonathan M. Tisch Center of Hospitality and its Hospitality Innovation Hub, in collaboration with RateGain Travel Technologies and HEDNA—noted that as traveler expectations rise, aligning people, processes and platforms is becoming a driver of performance.

Keep ReadingShow less
Peachtree Group's Residence Inn by Marriott under construction in downtown San Antonio, topping out milestone reached, June 2025

Peachtree tops out San Antonio Residence Inn

Peachtree Hotel to Open in Summer 2026 with 117 Extended-Stay Rooms

PEACHTREE GROUP HELD a “topping out” for its Residence Inn by Marriott in downtown San Antonio, Texas, marking completion of the structural phase of the 10-story, 117-room hotel. The property, co-developed with Austin-based Merritt Development Group, is scheduled to open in summer 2026.

The extended-stay hotel will be owned by Peachtree and managed by its hospitality management division, the company said in a statement.

Keep ReadingShow less