A Look at Recent Hotel Acquisitions

NATIONAL REPORT—Hotel transactions are taking place across the country. Here’s a look at the properties changing hands from coast to coast:

AAM 15 Acquires Two New York Properties
AAM 15 Management LLC has acquired the Courtyard and Residence Inn by Marriott of Yonkers, NY. Located on the Hudson River, Yonkers is the largest city of Westchester county and fourth largest city in the state of New York, also close to Manhattan. The Residence Inn Yonkers has 144 extended-stay guest suites, and although the hotel underwent a refresh in 2017, AAM 15 has a property improvement plan that will update the public space and guestrooms. The Courtyard Yonkers opened in May 2018. The hotel has 154 guestrooms. With a shared car park, the Residence Inn and the Courtyard of Yonkers are located off the Saw Mill River Parkway and I87. The hotels both offer complimentary parking and area shuttle service.

McNeill Hotel Investors Acquires Hyatt Place Bloomington/Normal
McNeill Hotel Investors has acquired the 114-room Hyatt Place Bloomington / Normal, IL. The property is located in uptown Normal, IL, close to Illinois State University, Illinois Wesleyan University and Uptown Station. Additionally, Bloomington is the corporate headquarters for State Farm Insurance, which includes administration, research and training facilities. The acquisition by McNeill Hotel Investors was facilitated by capital secured by McNeill through New York-based Almanac Realty Investors LLC.

OTO Development Enters St. Pete Beach, FL Hotel Market
OTO Development has entered the seaside hotel market in St. Pete Beach by purchasing the Howard Johnson by Wyndham St. Pete Beach FL Resort Hotel. The purchase was finalized on Dec. 5 between the Reagan Family Trust and OTO Development. Preston Reid, previously a senior director with JLL, brokered the sale, along with his team of Wyatt Krapf and Collier Proctor. Reid has since joined Berkadia as managing director. OTO Development will begin a complete renovation of the existing property over the next couple of years, including all 136 guestrooms, all public areas and the pool. The hotel will remain open during the renovation.

Waramaug Acquires Holiday Inn Express & Suites Bonita Springs, FL
Waramaug Hospitality has acquired the Holiday Inn Express & Suites Naples North—Bonita Springs, located in Bonita Springs, FL. The four-story, 105-room property was renovated to the IHG Formula Blue standard in 2016. Waramaug will complete the Formula Blue renovation with lobby and public space upgrades, as well as other amenities in the guestrooms. Twenty/Twenty Worldwide Hospitality will manage the Holiday Inn Express & Suites. The property is located close to the beaches of the Gulf of Mexico, Delnor-Wiggins Pass State Park and the Southwest Florida International Airport (RSW).

Pacifica Hotels Acquires Best Western Seacliff Inn
Pacifica Hotels has acquired the Best Western Seacliff Inn in Aptos, CA. Frank Sr. and Colleen Giuliani, TJ and Shirley Scott and Norman Bei were key partners in the initial development and operation of the Seacliff Inn in the 1980s. More recently, the property has been owned and managed by Frank E. Giuliani, Lori Giuliani; and Kathy Graff at The Bei Scott Company. The 148-room hotel is located near Seacliff State Beach and the Forest of Nisene Marks State Park as well as home to historic Aptos Village.