Tuesday , 24 October 2017
Breaking News

Category Archives: Hospitality

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 »

Hotel Planned for Westchase Area of Houston

HOUSTON –  A prominent site in the Westchase District of west Houston, where a number of energy firms have been expanding, has been purchased for hotel construction. Hans Lindberg has purchased 2.3 acres of land located at the northwest corner of Westpark and Beltway 8 from Serena Holdings LLC  for the construction of  four-story, 121-room TownePlace Suites by Marriott.  Mark Davis of Davis ... Read More »

Historic St. Anthony Hotel of San Antonio Sold

SAN ANTONIO – The St. Anthony Hotel, a 352-room, historic hotel in San Antonio, has been purchased by San Antonio-based BC Lynd, which will spend $24 million to renovate the 103-year-old property. The St. Anthony Hotel is located at 300 East Travis Street at the intersection of Navarro Street in downtown San Antonio.  The 10-story property offers 22 meeting rooms ... Read More »

Houston Proposing Hotels and Expansion to Convention Complex

By Ralph Bivins HOUSTON – A major expansion to Houston’s downtown convention center district calls for the construction of three new hotels, a new wing to the George R. Brown Convention Center and other new development, according to a report in the Houston Chronicle. Houston First, an organization supported hotel tax and tourism revenue, is promoting the plan. Houston First could support ... Read More »

Hotel Zaza Refinances $50 Million

HOUSTON – HFF has arranged a $50 million refinancing for Hotel Zaza, a 315-room luxury hotel in Houston’s Museum District. HFF worked on behalf of the owners of Hotel Zaza to secure the 10-year, fixed-rate loan through Goldman Sachs Commercial Mortgage Capital, LP.  Hotel Zaza is located at 5701 Main Street adjacent to the renowned Texas Medical Center and Rice ... Read More »

NBA Star David Robinson’s Admiral Fund Buys Stake in Houston Hotel

HOUSTON – The Admiral Capital Real Estate Fund LP  announced the acquisition of a preferred equity interest in the Hilton Garden Inn Houston Energy Corridor in west Houston. The investment marks Admiral’s first in the hotel sector and third acquisition of the fund. The 190 room hotel is situated in the heart of the Energy Corridor and caters to the ... Read More »

Wells REIT Buys Houston Office Building

HOUSTON – Wells Core Office Income REIT has acquired the Westway II building in west Houston.  Westway II is a 242,374 square foot Class-A office building in the Westway Business Park directly adjacent to the Sam Houston Parkway. The building, completed in 2009, has LEED-silver certified status.    The property is 100 percent leased to four tenants, with the lead tenant, ... Read More »

Eagle Ford Shale Drilling Prompts Mixed-Use Project

KENEDY, Texas – The Eagle Ford shale gas exploration play south of San Antonio has prompted Abrego Development to start Kenedy Station, a 166-acre mixed-use project. The drilling boom in the vast Eagle Ford Shale area has created a shortage of housing and retail services for thousands of workers that have come to South Texas to work in the energy ... Read More »

New Convention Hotels for Austin

Two convention hotel proposals are being floated in Austin. Manchester Financial of San Diego has proposed to build a 1,035-room hotel at the northeast corner of Red River and Cesar Chavez streets, on a block owned by local developers Perry Lorenz and Robert Knight. A few blocks away, on Congress Avenue, White Lodging Services has proposed a 1,003-room Marriott Marquis. Read More »

Scroll To Top