Who’s Buying? Four Acquisitions to Watch

NATIONAL REPORT—Hotel Business is tracking transactions in the industry. The following companies have recently acquired properties: Xenia Hotels & Resorts, Vesta Hospitality, First Hospitality Group (FHG) and Santa Fe Grupo Hotelero.

Xenia Hotels & Resorts Acquires The Ritz-Carlton, Denver
Xenia Hotels & Resorts Inc. has acquired The Ritz-Carlton, Denver, a 202-room luxury hotel located in Denver, for a purchase price of $100.25 million, or approximately $496,000 per key. The acquisition was funded with cash available on the company’s balance sheet.

Vesta Acquires Embassy Suites Jacksonville Baymeadows

Vesta Hospitality has acquired the Embassy Suites Jacksonville Baymeadows in Jacksonville, FL. The 277-suite hotel is now the largest in Vesta’s growing portfolio. The only full-service, all-suite hotel in the city, the property recently underwent a top-to-bottom $15-million renovation and Vesta will make additional investments in select upgrades will manage the property.

FHG Acquires Hampton Inn Pittsburgh/Monroevill
FHG has acquired and will manage the 140-room Hampton Inn Pittsburgh / Monroeville. The hotel will undergo $2.5 million in renovations starting in Q4 2018, including updates to the exterior facade and lobby market, an expanded fitness room and new guest bathrooms.

Santa Fe Grupo Hotelero Acquires Cleviá Grand Leon Hotel
Santa Fe Grupo Hotelero has acquired 50% of the Cleviá Grand Leon hotel. The five-star hotel, which is in its final stages of completion, is located in Leon, Guanajuato and has 140 rooms. Brand alternatives for the 140-room property are currently being evaluated.