Magna-Managed Fund Sells Four Hotels for Nearly $500 Million
A fund managed by Magna Hospitality has sold a portfolio of four hotels for a total of $489.8 million. Plus, more hotel deal news.
Magna Hospitality Group
Mexico Is Poised for a Boom in All-Inclusive Resorts
Mexico’s Posadas plans to add more than 1,300 all-inclusive rooms by the end of 2025. Plus, other hotel deals and development news.
Ace Hotel Brand Is Close to Being Sold
Bloomberg reported that Japan’s Seibu Holdings is close to signing a deal to acquire the eight-property Ace hotel brand. Will it sell for about $85 million? Read about that and other hotel development deals and news.
Canadian Hotel Performance Soars as Global Brands Expand Presence
Canada hotels gain 5.3% RevPAR in May; multiple hotel deals, acquisitions, renovations & new openings across North America and Europe.
Pebblebrook Sues San Francisco Over Hotel Valuations
Pebblebrook has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018.
Sternlicht Revives the Starwood Brand
Barry Sternlicht is set to revive the Starwood brand through his current hotel management company, SH Hotels & Resorts, rebranding it as Starwood from February.