Vol. 7 No. 296 About   |   Contact   |   Advertise September 11, 2019
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Vision Hospitality to manage Denver area Hyatt House
The 140-room hotel is one of the first opportunity zone developments in Aurora, Colorado
News-1

Ground has been broken for the 140-room Hyatt House Denver/Aurora, which is being developed by Denver-based BMC Investments and will be managed by Chattanooga, Tennessee-based Vision Hospitality Group.

VISION HOSPITALITY GROUP, led by President and CEO Mitch Patel, will manage a new Hyatt House hotel in Aurora, Colorado, that is one of the first opportunity zone projects to break ground in the Denver metro area. The 140-room extended stay hotel, owned by Denver-based BMC Investments, is at the Fitzsimons Medical Campus, part of Fitzsimons Army Medical Center.

The new hotel will be part of a development that also will include 8,000 square feet of retail.

“Hyatt House Denver/Aurora will add a new upscale hotel offering to one of Colorado’s most vibrant cities, providing guests close proximity to Fitzsimmons Medical Campus and Aurora’s thriving business district,” Patel said. Read More...
 
INSIDERS
Insiders Feisal Jaffer is the new global head for Hilton’s luxury LXR Hotels and Resorts brand. Previously he was senior vice president of business development for Capella Hotel Group, part of Pontiac Land Group.

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OPENINGS
openings SpringHill Suites by Marriot Montgomery Downtown is now open in downtown Montgomery, Alabama. The Marriott franchise is owned and managed by Buford-based Ascent Hospitality, under CEO and co-founder Nash Patel.

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NewcrestImage breaks ground on AC Hotel in Phoenix
The project marks the company’s expansion into the western U.S.
News-1
NewcrestImage, the Dallas-based company that opened the first AC Hotel by Marriott in the U.S., has broken ground on a new property under the upscale brand, this one in Phoenix.
NEWCRESTIMAGE HAS BROKEN ground on a 199-room, 13-floor AC Hotel by Marriott in Phoenix. The upscale hotel, scheduled to open in 2021, will be the first for the Dallas-based company in the western U.S.

The Phoenix AC Hotel, a joint venture with Las Vegas-based LaPour Partners, will be in Arizona Center, a million-square-foot mixed use site with shopping, entertainment, dining, and office space. It will include 3,400 square feet of meeting space, including two media salons and a board room.
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Atma Hotel Group acquires two more hotels in Chapel Hill, N.C.
The Courtyard by Marriott and Sheraton hotels bring the company’s portfolio to six
News-3
Atma Hotel Group will completely renovate the 168-room Sheraton Europa in Chapel Hill, North Carolina, right, which it recently acquired along with the Courtyard by Marriott in Chapel Hill.
ATMA HOTEL GROUP, led by founder and CEO Manish Atma, has acquired a Courtyard by Marriott and the Sheraton Europa in the hotel ownership and management company’s home base of Chapel Hill, North Carolina. It will completely renovate the Sheraton.

Atma already owns two Hampton Inn & Suites, a Holiday Inn Express and a Quality Inn in the same city, and it is currently building a 98-room Tru by Hilton there.
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NUMBERS
Numbers
$660 billion  

The amount of revenue the U.S hotel industry contributes to the U.S. economy annually, according to a study from Oxford Economics sponsored by the American Hotel and Lodging Association and the American Hotel and Lodging Educational Foundation. Read More...
PeachState Hospitality refinances hotels with $19 million loans
The Asian American owned company will use equity to finance new developments
News-2
Warner Robins, Georgia-based PeachState Hospitality took at $19 million in loans to refinance its Courtyard by Marriott in Warner Robbins, left, and its TownePlace Suites in Albany, Georgia.
PEACHSTATE HOSPITALITY HAS refinanced two of its Georgia hotels with $19 million in loans to use the equity on the properties for other development projects. The Warner Robins, Georgia-based hotel management and development company, under President Rajiv Bhatia and CEO Danny Patel, arranged the loan with the help of real estate investment banking firm PMZ Realty Capital. Read More...
GRAPHIC OF DAY
Hotel stock index dropped 6.6 percent in August
Graphic
THE BAIRD/STR Hotel Stock Index dropped significantly in August, 6.6 percent to 4,561. Sluggish growth and economic uncertainty dampened investor sentiment and created a “seesaw effect,” experts said. Read More..
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