Mergers & Acquisitions

🏨 District Hospitality Partners acquired Hilton Washington DC/Rockville Hotel; details undisclosed. The 315-room hotel, adjacent to Twinbrook Metro, Washington Metro Area, will undergo renovations of guestrooms, bathrooms, and corridors. It features a fitness center, business center, restaurant, café, bar, and 40,000 square feet of event space, including a 26-room conference center and a 10,000-square-foot ballroom. Marriott International and Sands China Ltd. are set to open The Luxury Collection in Macao in January 2025. The Londoner Grand will have 2,405 rooms and suites, five dining venues, and interiors by Peter Silling & Associates, located 4.9km from the airport on Cotai Strip. HEI Hotels & Resorts added Beacon Hotel & Corporate Quarters, Washington D.C., featuring 100 rooms (58 with kitchenettes), a restaurant, bar, and over 10,000 square feet of event space, to its portfolio. A multimillion-dollar renovation is planned. Hyatt Hotels will debut Andaz Gold Coast in Australia in mid-2025. Part of The Star Gold Coast development, the hotel will occupy floors 6-21 of a 65-story tower, offering 202 rooms and suites, fitness center, three dining areas, outdoor pool deck with cocktail bar, and beach club with cabanas and dining; designed by DBI Architects with interiors by Hachem.

📌 In a $525 million all-cash deal, Oravel Stays, OYO's parent, will acquire G6 Hospitality from Blackstone Real Estate. OYO, in the US since 2019, operates over 320 hotels across 35 states and plans to add about 250 more in 2024. Motel 6, under G6, generates $1.7 billion in gross room revenues. The transaction is set to close in Q4 2024, with Goldman Sachs & Co. LLC being the lead advisor for Blackstone.

📍 JLL’s Hotels & Hospitality Group secured $153 million for five full-service hotel properties with 1,140 keys in California, Arizona, Colorado, and Georgia. Properties, acquired between 2016-2018 and renovated from 2018-2020, cater to corporate and leisure travel, benefitting from diverse local demand drivers. The deal, arranged for a three-year, floating-rate loan, aims to season cash flow and features cross-country diversification. Mike Huth and Shalin Patel from JLL led the transaction.

🏨 Blackstone sold Motel 6 and Studio 6 to India's Oyo for $525 million, exiting its 12-year ownership since buying from Accor for $1.9 billion in 2012. Motel 6, founded in 1962 in California, has nearly 1,500 properties in the US and Canada. The deal, closing in Q4, aligns with Oyo's plan to add over 250 US hotels in 2024. Oyo, with 43,000+ properties globally, entered the US market in 2019 and currently lists 282 locations on Google. Motel 6 generates $1.7 billion in gross room revenues.

🏦 Peachtree Group acquired AC Hotel by Marriott in Park City, Utah, marking its sixth hotel addition in the year, totaling 789 rooms including three Hilton and three Marriott properties. Peachtree now manages 93 hotels with 11,837 rooms across 26 states. Key acquisitions include a 100-room AC Hotel in Utah, 128-room Residence Inn in Florida, and 180-room Hilton Garden Inn in Colorado. The strategy capitalizes on market dislocation, with expectations for rising transaction activity through 2024 into 2025. Peachtree also launched a restaurant management division and opened a Starbucks at AdventHealth Orlando.

🏡 Gencom, a Miami-based investment firm, entered the New York City market by acquiring the Thompson Central Park for $380 million, including a $230 million loan from Ramsfield Hospitality Finance, Affinius Capital, and AB CarVal. The 587-key hotel, located on Manhattan's Billionaires’ Row, operates under Hyatt as a Thompson Hotels-branded property and features dining venues, meeting space, and a spa. It recently underwent renovation and reopened in 2021, with a fitness center slated to open later this year.

📌 Room00 Group and Dorsa Holding Group acquired TOC Hostels for €20 million, buying 100% of shares from Ignacio Catalán and Salvador Torrens. The acquisition results in Room00 Group having 30 open properties with 2,260 rooms across Spain, Portugal, and Italy, and 20 more in development. TOC Hostels’ projected turnover is €70 million in the first year post-acquisition. Room00 Group, now one of Europe's largest hostel chains, looks to expand in Madrid, Barcelona, Seville, Malaga, Granada, and Valencia, and intends to add a fourth brand to its portfolio.

🏨 Smith Hill Capital and Bain Capital provided a $57 million first mortgage financing for the Embassy Suites by Hilton Nashville Airport, a 305-key property. Located near Nashville International Airport, downtown Nashville, and One Century Place Conference Center, the hotel offers amenities like an airport shuttle, fitness center, and over 6,000 square feet of meeting space. The venture targets hospitality companies across the U.S. despite uncertain market conditions.

🏨 NewcrestImage, a hotel portfolio company founded in 2013, acquired the 15-floor DoubleTree Suites by Hilton Hotel Columbus Downtown in Ohio, featuring 194 all-suite rooms and nearly 7,000 square feet of conference space. The seller and acquisition price were not disclosed. IHG announced its first Regent Residences in the Middle East, due in Dubai by end of 2027, with 63 luxury units and 10 floating homes. Red Roof opened its 700th hotel, the Red Roof PLUS+ Jamaica in N.Y., with an investment over $20 million, and the prototype HomeTowne Studios by Red Roof in Tampa, Fla. Hilton introduced its first Conrad Chongqing in China, marking the 700th Hilton property in Greater China, offering 275 rooms and extensive event space.

📌 Red Roof opened its 700th property in Jamaica, New York with an investment over $20 million. The 86-room Red Roof PLUS+ Jamaica, owned by Steven Mendel, is pet-friendly and close to JFK Airport. Another property, HomeTowne Studios by Red Roof Tampa – Airport, owned by Vijay Patel, is the first to use a new prototype introduced in 2021, offering 124 extended-stay suites. Both openings mark significant milestones for the company, illustrating its commitment to brand elevation and value.