Marriott Launches Global Home Rental Concept

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Marriott International has revealed Homes & Villas by Marriott International, a home rental initiative with 2,000 premium and luxury homes located in more than 100 destinations throughout the United States, Europe, the Caribbean and Latin America. Starting next week when the offering launches, members of Marriott Bonvoy can earn and redeem points at these highly curated homes, providing more choice of accommodations that suit a range of travel needs around the world.

Click here to read the full article by HotelBusiness.

Airbnb and RXR Realty Partner for New NYC Locations

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RXR Realty and Airbnb have partnered to convert portions of NYC commercial properties into a new category of urban lodging, made available exclusively through the Airbnb platform. Guests will be supported by a digitally­ enabled, dedicated concierge service ­­staffed by local and knowledgeable “hosts” ­­ who will provide guests with a personalized experience that allows them to access and navigate the city like a local New Yorker.

Click here to read the full article by HotelBusiness.

Strong 2019 Sales Activity in Hotel Sector

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Low interest rates and high demand are driving an increase in hotel sales volume across the U.S. and both buyers and sellers are being lured to the market.

“We’ve seen additional product come to market over the last six weeks,” says Steve P. Michels, managing director of global hospitality in the New York City office of real estate services firm Cushman & Wakefield.

A key factor is that hotel properties continue to generate good income for investors. The average revenue per available room (revPAR) is expected to increase by 2.3 percent in 2019, according to a Cushman & Wakefield forecast.

Click here to read the full article by National Real Estate Investor.

Moxy Downtown Minneapolis Attracts Restaurant

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Pearl and the Thief, a restaurant led by “Top Chef” contestant Justin Sutherland, will open in late Summer 2019 in the Moxy Downtown Minneapolis hotel and Ironclad residential project being developed in the Downtown East neighborhood by Graves Hospitality.

The $100 million project includes a 14-story, 172-unit apartment building and an eight-story, 139-room Marriott Moxy hotel with ground floor retail and 411 parking stalls.

Click here to view an article featured in The Business Journal.

Madison Area Hotel Market Sees Continued Growth

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Hotel Indigo pushes the Madison market past 10,000 beds for the first time – and more are on the horizon. The 5-story boutique Hotel Indigo, owned by the joint venture group Klueter Master Tenant LLC and managed by Great Lakes under a license agreement with InterContinental Hotels Group, opened April 11th and pays homage to the history of the area as well as Madison as a whole.

Click here to read the full articled featured in the Wisconsin State Journal.

Arbor Lodging Acquires Hotel Portfolio for $135 Million

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Chicago-based Arbor Lodging Partners has completed the $135 million acquisition of six hotels from Summit Hotel Properties. The portfolio includes: Hampton Inn Santa Barbara/Goleta, Hampton Inn Boston/Norwood, Hampton Inn & Suites Minneapolis/Bloomington, Hyatt Place Dallas/Arlington, Springhill Suites Minneapolis/Bloomington, and Residence Inn Salt Lake City Downtown hotels.

Click here to read a recent article published by Lodging.

Fargo-Moorhead Area Hotel Market Conditions Improving

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According to a recent article by INFORUM, hotel revenues in the Fargo-Moorhead area rose to nearly $101 million in 2018, up 2.7 percent from the nearly $98.1 million recorded in 2017.

Hotel occupancy rates in the Fargo-Moorhead area are holding their own as well, despite the addition of hundreds of hotel rooms over the last few years, many built to serve anticipated demand tied to the construction of Sanford Hospital along Interstate 94.

Click here to view full article.

New Hilton Completed in Rochester

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Construction of a new upscale hotel located at the corner of South Broadway and East Center Street in downtown Rochester, Minnesota, was completed this spring. The 264-room luxury hotel is being managed by Avra Hospitality.

Click here to read the full article featured in RE Journals.

Sheraton Milwaukee Brookfield Under New Management

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The 389-room Sheraton Milwaukee Brookfield is under new management after its owner gave the hotel to a lender to avoid possible foreclosure.  GF Management of Philadelphia is managing the hotel’s operations on behalf of the lender.

Click here to view a recent article that appeared in The Business Journal.