This roundup features the latest hotel transactions in the U.S. hotel industry.
Fairfield Inn Boston Woburn/Burlington and Fairfield Inn Portsmouth Seacoast
Rooms: 126; 102
Location: Woburn, Massachusetts; Portsmouth, New Hampshire
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Jamsan Management
Seller: A Joint venture between Contrarian Capital Management and Waramaug Hospitality.
Date of Transaction: Aug. 25, 2022
Takeaway: Price of the portfolio sales was not disclosed. JLL Hotels & Hospitality marketed the property on behalf of the seller.
Hotel Spero
Rooms: 236
Location: San Francisco
Price, Including Debt: $71 million
Price Per Room: $300,847
Buyer: An unnamed third party
Seller: Fairwood Capital
Date of Transaction: Aug. 25, 2022
Takeaway: For the trailing 12 months ended June 30, 2022, Hotel Spero's net operating loss was ($1.6) million
Hotel Melby
Rooms: 180
Location: Melbourne, Florida
Price, Including Debt: $59 million
Price Per Room: $327,778
Buyer: N Melby
Seller: A joint venture between Opterra Capital, Willow Street Capital, Duke Hospitality and the LCP Group.
Date of Transaction: Aug. 18, 2022
Takeaway: CBRE Hotels represented the seller.
Holiday Inn Express and Suites Port Charlotte
Rooms: 68
Location: Port Charlotte, Florida
Price, Including Debt: $6.4 million
Price Per Room: $93,382
Buyer: Stanan Inc
Seller: Lexmi Patel of Port Charlotte LLC
Date of Transaction: Aug. 15, 2022
Takeaway: The hotel completed a renovation in 2019.
Waldorf Astoria Park City
Rooms: 160
Location: Park City, Utah
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Wolfgramm Capital
Seller: Dml Hotel Company
Date of Transaction: Aug. 5, 2022
Takeaway: The property was purchased off-market in an all-cash deal. The purchase price was not disclosed.
Wingate by Wyndham Great Falls
Rooms: 62
Location: Great Falls, Montana
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Krystal LLC
Seller: JKR LLC
Date of Transaction: July 28, 2022
Takeaway: Crystal Investment Property represented the seller. The sale price was not disclosed.