Thursday , 21 August 2014
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Category Archives: Hospitality

The RNR Hotel Report

COMPILED BY RealtyNewsReport.com HOUSTON – Songy HighRoads will build a second Hyatt-branded hotel to a new development across the street from the Galleria. Songy and the Carlyle Group are under construction with a 325-room Hyatt Regency at the northwest corner of Sage Road and West Alabama Street. In addition, a 157-room Hyatt Place will be built adjacent to the Hyatt ... Read More »

REIT Buys Boutique Ashton Hotel in Downtown Ft. Worth

FORT WORTH – CBRE Hotels announced the sale of The Ashton Hotel, a 39-unit historic boutique hotel in downtown Fort Worth. Ashton Hotel Partners sold the property to Ashford Hospitality Trust, a Dallas-based hotel REIT, which plans additional renovations. The REIT owns a nearby Hilton property. The Ashton Hotel, 610 Main, first opened in 1890 (two-story) and 1915 (six-story). Following ... Read More »

New Hilton Brand “Curio” Awarded to new Sahara in Las Vegas and Sam Houston Hotel in Houston

HOUSTON – The Sam Houston Hotel in downtown Houston and a major redevelopment of the Sahara hotel on The Strip in Las Vegas will be the first properties to carry the new Curio flag by Hilton Worldwide, the hotel company announced Monday. Hilton described Curio thusly in a news release: “Curio – A Collection by Hilton (curiocollection.com) is a global ... Read More »

Borlenghi Expanding Granduca Hotel Brand to Austin, Then Other Markets

AUSTIN — The Granduca hotel brand is expanding to Austin – and perhaps to other cities – as Houston developer Giorgio Borlenghi has broken ground on the Hotel Granduca Austin, an Italian-styled luxury hotel. The Austin hotel is the first step in what could be a national expansion of the luxury brand, says Borlenghi, the Italian born developer who has ... Read More »

GreenStreet: New Hotel to be Developed in Downtown Houston

HOUSTON – A new upscale hotel, developed in partnership with the Valencia Group, will be built to create new momentum at the GreenStreet mixed-use development in downtown Houston, according the project’s new owners, Midway Cos. and an investment group led by basketball legend Magic Johnson. GreenStreet, a 570,000-sf project covering four blocks east of Main Street, was formerly the Houston ... Read More »

Hotel to be Built Next to New Exxon Mobil Campus in Houston

HOUSTON – The gigantic new Exxon Mobil campus, scheduled to open its first office building next month, continues to generate activity on the north side of Houston. The latest: Woodbine Development and InterMountain Management (IMM) announced they have purchased 3.25 acres in Springwoods Village to develop an extended-stay hotel. The new hotel, a 128-room Residence Inn, is scheduled to open ... Read More »

Crowne Plaza Hotel in Downtown Houston Sold to Hotel REIT

HOUSTON – The 259-room Crowne Plaza Houston Downtown Hotel, 1700 Smith Street, has been sold for $30.7 million in cash, plus other consideration, according to the buyer, Southerly Hotels Inc. The hotel is expected to have 72 percent occupancy rate in 2013, with an average daily rate of $134.50, room revenue per available room (“RevPAR”) of approximately $96.80. The hotel, ... Read More »

Bill Gates Investment Arm Buying Four Seasons Hotel in Downtown Houston

Microsoft chairman Bill Gates’ investment firm, Cascade Investments, is buying the Four Seasons Hotel in downtown Houston considered one of the finest hotels in Texas. Located at 1300 Lamar Street, near Discovery Green park, the luxury hotel features 404 rooms and suites and 64 rental apartments. Gates’ Cascade Investments is buying the Four Seasons from Maritz, Wolff & Co. which has ... Read More »

First Building Opens in 66-acre Hughes Landing in The Woodlands

HOUSTON – One Hughes Landing, the first office building in Hughes Landing, a 66-acre, mixed-use development situated on 200-acre Lake Woodlands has opened in The Woodlands, north of Houston. Hughes Landing will feature up to 11 office buildings; shopping, dining and entertainment; a specialty grocer; an upscale hotel; a fitness center and up to 800 multi-family units. One Hughes Landing ... Read More »

Hotel REIT Buys Old Humble Oil Building in Houston

HOUSTON – RLJ Lodging Trust acquired the historic Humble Oil Building complex in downtown Houston for $79.5 million  or  $151,000 per room for what will become three Marriott related hotels. The Humble Oil Building is a three-tower complex that occupies an entire city block at 1212 Main Street. The complex consists of an 82-unit apartment tower that will be converted ... Read More »

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