Transactions

Hotel & Motel Management, Nov 1, 2004 by Jeff Higley

Management

Aimbridge Hospitality secured the long-term management contract to operate the Radisson Hotel O'Hare in Rosemont, Ill. The 467-room property is owned by the Multi-Employer Hotel Partners LP fund.

Hawaii-based Castle Resorts & Hotels assumed management of the Kaha Lani Resort on Kauai, bringing the number of Castle-operated resorts on the island to six.

Schaumburg, Ill.-based Hostmark Hospitality Group was selected to manage the 164-room Ramada Inn South Beloit (Ill.) and the 160-unit Comfort Suites & Conference Center in Schiller Park, Ill.

Marshall Management of Salisbury, Md., signed a long-term management contact to operate the Hotel Utica in New York. The 112-room upscale hotel is the eighth management contract signed by Marshall in 2004. Hilton Hotels Corp. opened nine Hampton hotels comprising 923 guestrooms in August and September. New Hampton Inn hotels opened in Lake Havasu City, Ariz. (162 rooms), Clinton, Mo. (65 rooms) and Lehighton, Pa. (78 rooms). New Hampton Inn & Suites hotels opened in Jacksonville-Deerwood Park, Fla. (128 rooms), Bremerton, Wash. (105 rooms), Texarkana, Texas (81 rooms), Houston-Westchase, Texas (82 rooms), Tallahassee, Fla. (122 rooms) and Stamford, Conn. (100 rooms).

Openings

Horseshoe Bay Resort Ltd., which is controlled by Jaffe Group Ltd. of San Antonio and Sarofilm Realty Advisors, opened the 349-room Horseshoe Bay Resort Marriott Hotel in Horseshoe Bay, Texas.

Springfield, Mo.-based John Q. Hammons opened a $15-million Residence Inn by Marriott in North Charleston, S.C. Hammons opened the 150-suite property and John Q. Hammons Hotels manages it.

Kiawah Island Golf Resort opened The Sanctuary at Kiawah Island in South Carolina. The 255-room, $125-million oceanfront resort has 18,000 square feet of meeting space.

Mount Vernon Hotel LLC of Verona, Wis., opened a 60-unit Sleep Inn, Inn & Suites in Mount Vernon, Iowa.

Om Shiv Shakti LLC of Meridian, Idaho, opened a 76-unit Comfort Suites hotel in Meridian.

The 86-unit Salem (Mass.) Waterfront Hotel & Suites, the first new hotel in the city in 50 years, was opened by Rockett Realty of Marblehead, Mass.

The Buccini/Polin Group opened the 91-suite Homewood Suites by Hilton Newark/Wilmington in Delaware. The property is managed by PM Hospitality Strategies, an affiliate of BPG.

Merrillville, Ind.-based White Lodging Services opened a 114-room Courtyard by Marriott hotel in Louisville, Ky. The hotel is the 25th Courtyard by Marriott property in White Lodging's portfolio. AP Hotels of Mississippi acquired the 124-unit Howard Johnson Express Inn in Tupelo, Miss., from Arlington Hospitality for an undisclosed price, Thompson Calhoun Fair advised Arlington on the disposition.

Acquisitions

A.R. Hospitality of Redondo Beach, Calif., purchased a 125-unit Holiday Inn & Suites in Kent, Wash., from Pinnacle Palo Alto LLC, an affiliate of San Diego-based Pinnacle Hotels USA, for an undisclosed sum. Encinitas, Calif.-based West Coast Investment Realty represented the seller, and Inn House Hospitality of Torrance, Calif., represented the buyer.

Dallas-based Ashford Hospitality Trust acquired the 654-room Hyatt Orange County in Anaheim, Calif., from an undisclosed seller for $81 million in cash, inclusive of the seller's commitment to fund a $6-million renovation. Hyatt will continue to manage the property under a long-term management agreement at a fee of 3 percent of gross revenue, Ashford said in a press release.

Fred Cerrone acquired the management arm of Atlanta-based Day Hospitality Group from partner Peyton Day for an undisclosed sum. The purchase includes 14 management contracts held by DHG. Cerrone renamed the company Sivica Hospitality.

Nashville-based Chartwell Hospitality Corp. acquired a 112-room Comfort Inn in Colorado Springs, Colo., and a 105-room Hampton Inn in Searcy, Ark., from AEW Capital Management LP for $7.6 million. Chartwell also purchased the 128-room Hampton Inn in Omaha, Neb., from CNL and Associates for $6.2 million; and the 92-room Fairfield Inn in Southaven, Miss., from an undisclosed seller for $3.6 million. The company plans to spend about $3 million to renovate the properties.

Elite Hospitality of Daytona Beach, Fla., acquired two Wingate Inn properties in Jacksonville, Fla., from an undisclosed seller for an undisclosed sum.

Norwalk, Conn.-based HEI Hospitality purchased the 233-room Renaissance Fort Lauderdale Hotel in Florida from Miami-based LNR for an undisclosed sum. Merritt Hospitality, a wholly owned subsidiary of HEI, will manage the property.

MeriStar Hospitality Corp. acquired an interest in the 705-room Radisson Lexington Hotel in Midtown Manhattan. MeriStar made a $50-million structured investment in the property.

Pacifica Hotel Co. sold a 68-unit Quality Inn & Suites in Hermosa Beach, Calif., to an undisclosed buyer. The purchase price was not disclosed. Pacifica will continue to manage the property.

Membership

The Falor Cos. and Colony Capital LLC acquired the 179-suite Mayfair Hotel from an undisclosed seller for an undisclosed sum. Kimpton Hotels & Restaurants will manage the property, which is being converted to a condominium hotel.