Acquisitions by Noble Investment Group and Bluegreen Vacations
Skift Take
- The stock market experienced a decrease, with the Dow Jones Hotel & Lodging REITs Index down 2.3%.
- There were several hotel acquisitions, renovations, and new developments announced.
- There were also announcements of management changes, upgrades, and technology acquisitions in the hospitality industry.
The DJIA fell 344 points while Nasdaq was down 238, the S&P 500 fell 65 points, and the 10-year treasury yield was down 0.12 to 3.4%. The Dow Jones Hotel & Lodging REITS Index was down 2.3%.
Noble Investment Group announced the acquisition of the Hampton Inn & Suites Charlottesville - At The University, located adjacent to the University of Virginia and the UVA Medical Center. The hotel will undergo a comprehensive upgrade to all hotel guestrooms and suites, public areas, and meeting space.
The Hilton Garden Inn Fort Collins, Colorado announced the completion of a major renovation. The renovation includes all 120 guestrooms and suites, the hotel’s meeting space. Additional renovations include the newly designed porte cochere and entry, redesigned sundry and snack shop, refreshed restaurant, elevator lobbies, public restrooms, corridors, indoor pool and enhanced fitness center.
