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CHARLOTTE-BASED MAYA HOTELS has acquired two Hampton Inn hotels in North Carolina and South Carolina. The two Hampton Inns boast a total of 210 guest rooms and are Maya Hotels' second and third acquisitions over the last six months, the company said in a statement. The hotels are the 100-room Hampton Inn & Suites Charlotte-Arrowood Road in Charlotte, North Carolina, and the 110-room Hampton Inn Columbia Northeast-Fort Jackson in Columbia, South Carolina. Maya Hotels, led by JD Deva as CEO, acquired the hotels on March 11. The Charlotte property is near Carowinds Amusement Park and Charlotte Douglas International Airport. The Columbia hotel is near U.S. Army Fort Jackson the University of South Carolina and downtown Columbia. Amenities at each hotel include outdoor pools, fitness centers, meeting spaces, and business centers. "We are excited to acquire these two top-branded assets at a discount to replacement cost," said Krishna Deva, vice president of Maya Hotels. "Charlotte and Columbia have historically been top markets for us, and we are thrilled to grow our presence in these two cities with such a strong brand affiliation." The acquired hotels complement Maya Hotels' existing footprint and will increase the current operating synergies the company has across North Carolina and South Carolina regions. The hotels will be renovated and managed by Maya Hotels. "We are so happy to continue growing our relationships with the Charlotte and Columbia communities, as well as with Hilton. We are also thankful to each of our investors and banking partners," said Deva. "The success of this transaction is a testament to our track record in the hospitality industry and our ability to adapt quickly in a rapidly changing lending environment. We look forward to bringing out the full potential of each of these properties with our hands-on management approach and the completion of major renovations at each property."

NEXGEN HOTELS RECENTLY acquired The Maritime Hotel Fort Lauderdale Airport & Cruiseport in Fort Lauderdale, Florida. The 150-room hotel will be renovated and rebranded as the Moor Hotel at Marina Bay, a Tribute Portfolio Hotel, with completion expected by the third quarter of 2025, NexGen said in a statement. Itasca, Illinois-based NexGen is led by Chris and Ron Patel as principals. This is their second acquisition this year, following the 137-room Hotel Versey in Chicago, Illinois, in May. "NexGen Hotels is always striving to bring top-tier properties into our portfolio, and with this acquisition and conversion, it's a testament to our focus on obtaining diversified brands for our investors," said Chris Patel. "The Moor Hotel at Marina Bay, a Tribute Portfolio Hotel, represents a new standard for design and hospitality in the Fort Lauderdale area."

CHOICE HOTELS INTERNATIONAL has completed its acquisition of Radisson Hotels Americas for $675 million. The transaction includes Radisson's franchise business, operations and intellectual property. The merger, which was announced in June, will add Radisson's nine brands to Choice, bringing it to 624 hotels. "With the close of this transaction, Choice Hotels International has added approximately 67,000 rooms, expanding its presence in the higher revenue upper upscale and upscale full-service segments, and bolstering its core upper-midscale hospitality segment, particularly in the West Coast and Midwest of the U.S.," the company said in a statement. As part of the transaction, which covers properties in Canada, Latin America and the Caribbean as well as the U.S., Choice will independently own and control the brands in the Americas and will work with Radisson to drive the growth, continuity and success of the brands, according to a joint press release from the companies. Choice's board of directors unanimously approved the transaction, and it was expected to close in the second half of 2022. It was funded by cash on hand and revolver borrowings and includes 10 Radisson Blu hotels, 130 Radisson hotels, 9 Radisson Individuals, 1 Park Plaza hotel, 4 Radisson RED hotels, 453 Country Inn & Suites by Radisson and 17 Park Inn by Radisson hotels, as well as the recently launched Radisson Inn & Suites and Radisson Collection brands.

SSN HOTELS, A Delaware-based hotel management and ownership company, recently acquired its 31st property, the Residence Inn Atlantic City Airport/Egg Harbor Township in New Jersey. A full renovation of the property, set to begin at year's end, will focus on upgrading guest amenities, SSN Hotels said in a statement. SSN Hotels is led by co-founders Peter Bhai as CEO and Pinky Bhai and president. "We are excited to expand our presence in the Atlantic City area and look forward to transforming this property into a premier destination for business and leisure travelers alike," said Peter Bhai. "This renovation will allow us to offer an even more exceptional stay for our guests while continuing to grow our portfolio." SSN currently operates 31 hotels across five states-New Jersey, Pennsylvania, Virginia, Delaware, and Florida-with seven more in development, according to its website. It owns and manages properties under brands from Hilton Hotels & Resorts, Marriott International, IHG Hotels & Resorts, Red Roof and Wyndham Hotels & Resorts.

MHG HOTELS, LED by President and CEO Sanjay Patel, recently acquired Homewood Suites Bloomington in Bloomington, Indiana. The property, near Indiana University, is the company's second acquisition in two weeks. Previously, the company purchased the Hampton Inn Boca Raton in Florida, expanding its presence in South Florida. "This acquisition reinforces our commitment to expanding our footprint in key markets," said Patel. "We are excited about the opportunities this property presents in Bloomington, especially given our strong presence in the area with existing hotels, apartment communities, and another project underway." MHG Hotels, based in Indianapolis and Boca Raton, specializes in development, construction, and management, with a portfolio that includes franchises with Marriott, Hilton, and Choice Hotels.

Giri Bar Harbor Kebo Inc. and Giri Peabody 57 LLC, doing business as Giri Hotel Management led by Ash Sangani, recently acquired Hampton Inn and Homewood Suites Boston Peabody hotels in Peabody, Massachusetts, respectively. The two properties offer a total of 205 rooms. The hotels are within a 10-mile radius of Salem and 13 miles south of Boston. The properties are near the headquarters of Analogic Corp., Neurological, Lahey Medical, North Shore Medical, and Boston Children's Hospital Peabody. "With the acquisition of these two hotels, we're thrilled to announce the expansion of our portfolio to include eight Hilton-branded hotels," said Sagar Malavia, GHM's partner. "Situated along Route 1, these locations offer prime positioning for an exceptional guest experience for short- and long-term guests. We're dedicated to fostering a welcoming, family atmosphere for our new hotel team members and look forward to fostering excellent relationships with the community for mutual economic success."

NEXGEN HOTELS RECENTLY acquired the 137-room Hotel Versey in Chicago, Illinois. The boutique property will be managed by Genuine Hospitality Group of St. Louis. The acquisition marks the first for NexGen in 2024, under the leadership of Chris Patel as president. In November and December, the company acquired around three hotels within a few weeks. "The Hotel Versey has been on our radar for a long time as it is steeped in rich hospitality tradition that dates back to the 1920s," said Patel. "We hope to continue on with this tradition with this completely one-of-a-kind hotel." The hotel is located near 1920s Diversey Arms building, a Northside Chicago landmark that once served as the home of jazz musician Bix Beiderbecke. Additionally, it is close to Wrigley Field, Lake Michigan, Lincoln Park Zoo, DePaul University, and the Peggy Notebaert Nature Museum.

PEACHTREE GROUP LAUNCHED its fifth hotel property structured as a Delaware Statutory Trust with the acquisition of the 128-key Residence Inn Tampa Wesley Chapel in Wesley Chapel, Florida. This follows the purchase of its Home2 Suites by Hilton Atlanta Sugarloaf DST in August. Peachtree's DST acquisitions allow 1031 exchange investors to reinvest proceeds from the sale of appreciated real estate, defer taxes and maintain exposure to the growing hotel sector. "The hotel's prime location in the Wiregrass Ranch master-planned community, combined with its proximity to the Wiregrass Ranch Sports Campus, makes it a valuable addition to our growing portfolio of DST properties," said Tim Witt, Peachtree's president of 1031 exchange and DST products. "With activities and tournaments at the 98,000-square-foot sports complex boosting weekend business for the hotel and Pasco County's investment in expanding the facility, we anticipate strong demand from both leisure and business travelers. Further supporting our off-market acquisition is the fact that it was recently appraised for nearly $900,000 above our purchase price."

HOS Management, led by President Kris Patel, recently acquired Residence Inn Savannah Midtown in Georgia. The 66-key hotel is near City Market, Oglethorpe Mall, Candler Hospital, historic downtown Savannah, River Street, SCAD, and Memorial Health University Medical Center. The property also provides easy access to the beaches of Tybee Island, St. Simons, and Jekyll Island. "We had a great experience working with Hunter Hotel Advisors, especially Mayank Patel and his team, on this acquisition," said Patel. "The Residence Inn Savannah Midtown is the perfect Marriott addition to our portfolio." HOS Management, based in Savannah, Georgia, is a family-operated hotel development and management company with properties under brands like Marriott International, Hilton, IHG Hotels and Resorts, and Wyndham. Founded by brothers Anil and Kirit Patel, the company began with the acquisition of the Benton Motel, their first independent motel, in 1985.

NEWCRESTIMAGE RECENTLY FINALIZED its purchase of the LaQuinta Inn & Suites Los Angeles International Airport in Los Angeles, the final part of the company's acquisition of four LaQuinta-branded hotels in a joint venture between Highgate and Cerberus. The company closed on the other three hotels in the deal in August. The 281-room, 10-floor hotel, which will be managed by Highgate Hotels, along with the other hotels in the deal, will add 696 rooms to NewcrestImage's portfolio. The other hotels are the LaQuinta Inn & Suites Irving DFW North in Irving, Texas; LaQuinta Inn & Suites Anaheim in Anaheim, California; and LaQuinta Inn Phoenix North in Phoenix. "These four hotels symbolize our company's strategy of investing in properties and in markets that are well-positioned for long-term growth and prosperity," said Mehul Patel, managing partner and CEO of NewcrestImage.

PEACHTREE GROUP RECENTLY acquired the AC Hotel Park City in Utah, its sixth hotel acquisition this year, bringing the total to 789 rooms. The company is predicting more growth over the next two years. Peachtree is led by Greg Friedman, CEO and managing principal; Jatin Desai, CFO and managing principal; and Mitul Patel, principal. "Our team has successfully acquired a number of hotel properties at below-market prices, taking advantage of the current slowdown in transactions," said Friedman. "While the market is slower than usual due to high interest rates, tighter lending conditions, economic and geopolitical uncertainty, we continue to remain active, capitalizing on unique opportunities that arise in this environment while employing multiple strategies that allow us to capitalize on the current market dislocation. By staying patient and strategic, we've been able to secure valuable assets while others take a more cautious approach." Peachtree's portfolio includes three Hilton and three Marriott hotels, all managed by Peachtree's hospitality division, which oversees 93 hotels across 27 brands, totaling 11,837 rooms in 26 states.

EVERWOOD HOSPITALITY PARTNERS has completed the acquisition of the 184-room LaQuinta I Drive/Convention Center hotel in Orlando, Florida, from Cavalier Florida, LP, the company said. Real estate capital advisory, Cronheim Hotel Capital, helped secure the loan for the acquisition and subsequent renovation of the property which includes upgrades to public and private spaces. The loan, from a Florida-based bank, which provided five-year fixed rate financing with two years of interest only, represented 65 percent of the all-in cost, according to Everwood. The hotel is next door to ICON Park and offers multiple dining and entertainment options. The property is one mile from the Orange County Convention Center and the city's many amusement parks and entertainment venues. Amenities include an outdoor pool and a fitness center. "With its proximity to many of Orlando's top attractions, the LaQuinta is an ideal addition to Everwood's expanding hotel portfolio," said Amit Patel, Everwood's managing principal and chief operating officer. "We continue to seek hotels in prime markets with barriers to new entry and multiple demand generators that help protect against occasional market fluctuations. Following the implementation of our proprietary management and marketing systems, LaQuinta I Drive will become the segment leader for leisure and business travelers in Orlando."

MHG Hotels LLC recently acquired the Hampton Inn Boca Raton in Boca Raton, Florida. The hotel, near Florida Atlantic University and adjacent to Lifetime Athletic Club, features an outdoor pool among other amenities. MHG Hotels is led by President and CEO Sanjay Patel. "This acquisition is a testament to our commitment to growth and excellence in the hospitality industry," said Patel. "As part of our strategic expansion, we are thrilled to increase our presence in South Florida. This vibrant region offers tremendous opportunities, and we are dedicated to leveraging them to achieve our growth objectives. We are excited about the opportunities this property presents and are confident in our ability to enhance the guest experience." MHG Hotels, headquartered in Indianapolis and Boca Raton, specializes in development, construction and management services. Their diversified portfolio includes franchise affiliations with Marriott International, Hilton Worldwide, and Choice Hotels International.

NEXGEN HOTELS RECENTLY acquired Holiday Inn St. Petersburg West in St. Petersburg, Florida. The 129-room hotel will be managed by St Louis-based Genuine Hospitality Group. The property, which is located minutes away from downtown St. Petersburg, is close to Tropicana Field, the Dali Museum, Morean Arts Center, Duke Energy Center for the Arts - Mahaffey Theater, and Al Lang Stadium, NexGen said in a statement. The hotel is also near the University of South Florida - St. Petersburg Campus, St. Petersburg College and Stetson University. "We are excited to expand our portfolio and enter the St. Petersburg area," says Chris Patel, president of Itasca, Illinois-based NexGen. "This acquisition provides NexGen Hotels with an excellent opportunity to establish a significant presence in the robust St. Petersburg hotel market."

NEWCRESTIMAGE AND HOSPITALITY Capital Partners have acquired 11 hotels in seven states with a total of 1,551 rooms in a joint venture. Al Calhoun and Mark Fair at CBRE in Atlanta handled the transaction. The properties are 10 Courtyards and one Residence Inn in Georgia, Massachusetts, New York, Oklahoma, Pennsylvania, Texas and Virginia, according to NewcrestImage. Dallas-based NewcrestImage owns more than 70 hotels across the country with almost 8,000 rooms. Since its founding in 2013, the company has completed more than $3 billion in transactions involving almost 275 hotels with almost 30,000 hotel rooms in 130 communities across the country. "Our company has a strong appetite for solid investment opportunities," said Mehul Patel, NewcrestImage managing partner and CEO. "These properties and markets offer attractive potential for both profits and appreciation value." HCP and its principals Keith Mishkin and Primo Parmar have owned nearly 50 hotels in the western U.S., including The Saguaro Scottsdale in that Arizona city's historic Old Town area. Other projects include 25 golf courses through their associated company, Parks Legacy Project.

NEWCRESTIMAGE IS EXPANDING its portfolio of luxury full-service properties with the addition of The Beeman Hotel in Dallas, which has 296 guestrooms and suites across nine floors. Coury Hospitality will manage the property, NewcrestImage said in a statement. NewcrestImage is led by Mehul Patel, managing partner and CEO. The Beeman Hotel, fully renovated in 2021, features a heated indoor pool, a 24-hour fitness center, 12,000 square feet of flexible conference space, a lounge with video games, and the Seely Mill restaurant, the statement said. The property is adjacent to Southern Methodist University (SMU) and the George W. Bush Presidential Library, and is less than six miles from the Kay Bailey Hutchison Convention Center, the 20,000-seat American Airlines Center, Love Field and NorthPark Center. "The Beeman is a very high-quality property that offers tremendous upside potential to help drive our ambitious growth goals," said Patel. "To further and fully optimize this hotel's value and profits, we intend to rebrand in the high-end upscale category."

NEWCRESTIMAGE RECENTLY ACQUIRED the TownePlace Suites by Marriott Dallas Las Colinas in Irving, Texas. It is the most recent acquisition for the Dallas-based investment firm led by Mehul Patel as managing partner and CEO, and the company plans to fully renovate the property, which opened in 1998 and was last renovated in 2014. The 3-floor, 135-suite property offers three types of guestroom: studio, one-bedroom, and two bedroom, according to NewcrestImage. It is near two major airports, Dallas Fort Worth International Airport and Love Field, and two major convention centers, the Irving Convention Center and the Gaylord Texan Convention Center. Amenities at the hotel include a fitness center and an outdoor pool. "This extended-stay property is in the heart of a high-traffic corridor that's a popular destination for both corporate and leisure travelers," Patel said. The acquisition of the TownePlace Suites is important to Marriott, said Loren Nalewanski, the company's vice president franchising for the Element, Residence Inn, Fairfield, TownePlace and SpringHill Suites brands. "Our industry is built on strong partnerships between brands and owners," Nalewanski said. "This acquisition enhances the long, valued, and successful partnership between Marriott and NewcrestImage, which has owned and operated 30 Marriott-branded properties since 2013."

COMMERCIAL REAL ESTATE direct lender Stonehill recently originated a $79.8 million, three-year, floating-rate bridge loan for New York-based Churchwick Partners for the acquisition of a 12-property, extended-stay hotel portfolio. The deal was premised on the strong performance by extended-stay hotels even during the pandemic. Stonehill is an affiliate of Peachtree Hotel Group, led by Jatin Desai and Mitul Patel as managing principals. The deal includes 1,432 rooms in nine states, mostly Sonesta Hotels brands. "Our sponsors benefit from experienced real estate lenders able to originate and close complex transactions," said Nick Baer, Stonehill's vice president for business development. "With funding options from traditional lenders limited for hotels and other commercial real estate properties, we are pleased to provide Churchwick Partners with the lending solution, financial capacity and hospitality expertise to close this transaction in a challenging capital market environment."

STARWOOD CAPITAL GROUP, a US-based private equity firm, recently purchased10 Radisson Blu Edwardian properties in London, totaling 2,053 rooms, from Edwardian Hotels London, a U.K. hospitality group with Jasminder Singh as chairman. The financial details of the deal remain undisclosed, but a Bloomberg report estimated the transaction at around $1 billion (£800 million). Edwardian Group will continue to manage the portfolio during a transitional period, the company said in a statement. Edwardian Hotels London will retain operational control and continue managing The Londoner Leicester Square, launched in September 2021, along with its two Radisson Collection hotels-The May Fair in Mayfair and The Edwardian Manchester in Manchester. Jasminder Singh is chairman of Edwardian Group. "Following the successful launch of The Londoner and a period of strong trading across the portfolio, this sale represents an opportunity to refocus the group and position it for its next chapter," said Inderneel Singh, CEO of Edwardian Group and son of Jasminder Singh. "Our three landmark properties - The Londoner, The May Fair Hotel, and The Edwardian Manchester - are perfect showcases of our vision for the future, and we remain committed to investing in and delivering distinctive experiences for guests in high-end, purpose-built, city-centre hotels."

REAL ESTATE INVESTMENT competition She Has a Deal 2022 SHaDPitch Today's Woman competitor Amina Gilyard James recently acquired the Quality Inn in the Raleigh neighborhood of Memphis, Tennessee. James said the competition prepared her company for the acquisition. The 70-room hotel is near downtown Memphis, Beale Street and AutoZone Park, home of the Triple-A Memphis Redbirds and the Memphis International Airport, according to SHaD. Amenities in the property include a business center and indoor heated pool and hot tub. James' firm Duke Ventures plans to invest $500,000 to refresh the property with new paint, FF&E and additional cosmetic improvements. "The SHaDPitch competition and its curriculum provide an invaluable inside look at the hotel industry," James said. "It provided a roadmap and extensive network that gave me foundational knowledge of the hotel acquisition and ownership space. SHaD prepared my company, Duke Ventures LLC, to make the smartest investment possible. We're proud of the deal we made and optimistic about what the future holds for this property and our investors."