Hersha Hospitality Trust announced today that the Company has entered into a definitive purchase agreement to acquire the 80-room Bulfinch Hotel in downtown Boston’s West End neighborhood for $18.2 million, or $228,000 per key. The asset’s unique position as a brand and management unencumbered hotel along with its high growth location, allows Hersha an attractive opportunity to reposition the asset to appeal to the highly desirable urban transient and lifestyle oriented traveler. This property complements Hersha’s other independent properties in New York and Washington, similar to the Duane Street Hotel and NU Hotel. The Company plans to invest approximately $2.5 million in the hotel to upgrade guest rooms, improve the food and beverage platform, fitness and business amenities, while adding an additional room.
Commercial Real Estate Developer, The Castlewood Group Singapore, announced they are expanding their renowned lifestyle brand, Nikki Beach, in Asia, commencing with a Hotel, Spa and Beach Club in Phuket in 2013.The Nikki Beach Club plus The Nikki Beach Hotel and Spa in Bang Tao, Phuket will be our first offering to the market and will comprise a 5 star hotel with 151 luxurious suites and a mix of 23 sky villas and exclusive villas all with private pools and gardens. In addition there is a 45 m free form swimming pool, roof top infinity pool with bar and lounge overlooking an external yoga area.
Nearly 30 years after the opening of the first Hyatt hotel in Mexico, Hyatt Hotels Corporation announced that a Hyatt affiliate intends to acquire the 756-room Hotel Nikko Mexico for approximately US$190 million from Japan-Mexico Hotel Investment Co., Ltd. The transaction is scheduled to close in May and, upon closing, the hotel will be rebranded as Hyatt Regency Mexico City. Hyatt will invest approximately US$40 million in a three-year renovation. Hyatt Regency Mexico City’s excellent location will position it as one of Mexico City’s most visible hotels. The hotel is situated in the heart of the upscale Polanco district on Campos Eliseos, where the headquarters of international corporations are located. Hyatt Regency Mexico City will have 734 rooms after combining some of the existing rooms into suites. The hotel’s amenities will include approximately 30,000 square feet of meeting and event space, two signature Japanese restaurants, a three-meal restaurant and lobby bar, a business center, a fitness center, tennis courts, and a pool. This summer the hotel will complete an extensive six-year renovation program that includes the complete refurbishment of all the guestrooms as well as the two Japanese restaurants.
Meliá Hotels International has signed a lease agreement for its second Innside by Meliá property and its fifth hotel overall in Düsseldorf, Germany. The new 134-room Innside Hotel Düsseldorf Hafen is to be developed in the city’s iconic, 17-storey multicoloured Colorium building, which also houses office and retail space. The hotel is expected to open in mid 2013. The landmark building at Speditionstrasse with its 17 levels and 62 metres in height was designed by the British star architect William Allen Alsop for a private investor, and is one of the symbols of the new en vogue quarter, not only because of its extraordinary shape. A façade, comprising more than 2,000 colourful glass panels, was hung in front of it displaying a mixture of full-colour spaces and differentiated four-colour elements. The most spectacular feature is the signal-red technology level on the top floor protruding above the port basin and which is illuminated at night. A trendy Innside Skybar & Lounge has been planned which will not only spoil hotel guests with culinary treats, but also provide fantastic views of the port and the city centre that is only a few minutes away on foot. A total of 134 extremely stylish rooms and suites as well as two state-of-the-art conference rooms spread across floors 5 to 14 and the ground floor. The Colorium’s floors that are not occupied by the hotel contain office rooms as well as the innovation showrooms of a major mobile phone provider or a fashion label and the Dusseldorf branch of a media academy.
Los Angeles-based Viceroy Hotel Group is to make its debut in Europe with a hotel in the city of Istanbul, Turkey. The group has been chosen to operate a five-star urban resort in the city’s Nef Bebeköy Development in an area across ten separate buildings and over 16 acres of land, offering 58 guest accommodations, Viceroy Istanbul will boast spectacular panoramic views of the Bosphorus, the strait that forms part of the boundary between Europe and Asia, and direct access to a tranquil outdoor garden and forest area. The property will offer guests and residence luxury services including a casual and signature restaurant, banquet and meeting facilities, an outdoor art gallery, and a state-of-the-art full service fitness center and spa. We’re guessing that Viceroy’s head designer, Kely Wearstler, will be doing the interiors but this isn’t confirmed. Viceroy already has one other hotel under development in Turkey, the Viceroy Bodrum, which is scheduled to open in 2014.
Northampton Group Inc., an integrated Canadian hotelier, with its development partner Silver Hotel Group, today announced the opening of their newest aloft™ hotel in Vaughan Mills, a retail and commercial development just north of Toronto. The $16 million project was completed in just over one year. Northampton also developed the world’s first ever aloft in Montreal and like this and many other alofts offers the usual re:mix™ lobby, the w xyz™ bar, re:fuel™, and a 24/7 pantry for tasty tidbits. Guest rooms feature every amenity from loft-inspired nine-foot ceilings, platform beds, picture windows, huge bathrooms complete with oversized showers and, and the luxurious Bliss® spa products, and plug-and-play connectivity.
After acquiring Las Vegas’ landmark Sahara Hotel & Casino and then shuttering the property in May 2011, SBE Entertainment Group has with the help of J.P. Morgan Securities LLC pulled together the funding to redevelop the property into what will be called the SLS Las Vegas when it reopens in 2014. The owners obtained US$300 million to redevelop the 1,600-room hotel and will bring in Gensler architects and interior designer Philippe Starck to deliver a product that is approachable and affordable, according to Sam Nazarian, founder and chairman of SBE, which owns the property with Stockbridge Real Estate Funds of San Francisco. Nazarian told Bloomberg that new restaurants and nightclubs, as well as 40,000 square feet of convention space are planned.
A 310-room oceanfront Hard Rock Hotel and Casino will be the latest addition to Aruba’s growing portfolio of luxury accommodation. Scheduled to open in 2014, the 75-million pound hotel will be located right outside Oranjestad, Aruba’s capital, and is set to dramatically change the beach landscape of the island. The brand new property will be built on the ruins of the abandoned Bushiri Hotel, which has not been operating for nearly a decade and whose demolition will be completed by the end of the year. The Aruba Hard Rock Hotel and Casino will cover a total area of 28,619 square metres and will have a maximum height of seven floors.