A trio of hotel acquisitions

A trio of hotel acquisitionsHotel Business | Hotel Business

Two hotels have changed hands in the U.S., while a property has just been sold oversees.

DSH Hotel Advisors reveals sale of Clearwater, FL Hotel
DSH Hotel Advisors, a national hotel brokerage and advisory firm headquartered in Tampa, FL—specialized solely in hotels—has revealed that Dennis Hopper, CCIM, managing principal and Randy Taylor, senior investment associate at the firm arranged the sale of the Magnuson Hotel Clearwater on Sept. 27 for an undisclosed price. Hopper and Taylor represented the seller, Horwood Hotel Works LP. The property had a list price of $6.3MM at the time of sale.

DSH Hotel Advisors was retained as the exclusive broker to market for sale the Magnuson Hotel Clearwater, a 118-room limited-service hotel located directly off US-19, close to Clearwater Beach. The firm generated approximately 30 offers on the property—allowing the seller to choose from a multitude of buyers, while achieving a healthy sales price. The sale added to an already lengthy list of hotels that DSH Hotel Advisors has sold in Florida.

Triton Hospitality Group acquires Minneapolis’ Marquette Hotel
Triton Hospitality Group (Triton) has acquired The Marquette Hotel, a Curio Collection by Hilton, located in downtown Minneapolis. The Southern California boutique investment firm has earmarked an additional $4 million for guest-related enhancements and property improvements and has appointed Evolution Hospitality as manager in its first step in maximizing the four-diamond hotel’s full potential.

The Marquette Hotel, located at 710 S Marquette Ave., has a position within one of the most heavily trafficked blocks of the Minneapolis Business District, located close to Nicollet, the city’s 12-block pedestrian thoroughfare of retail, entertainment and office space, and in close proximity to many of the city’s prominent attractions including U.S. Bank Stadium, Target Field and Target Center. It is housed in the IDS Center, a landmark 1.8-million sq. ft. Phillip Johnson-designed mixed-use, development. Built in 1970, in 2017 the hotel underwent a full guestroom and public area renovation and rebranding as a member of Hilton’s Curio Collection, which included a full-scale transformation of all 281 guestrooms and suites, lobby and public spaces, food and beverage outlets and meeting space.

As one of the city’s premier corporate and group hotels, the AAA four-diamond property features 25,800 sq. ft. of high-tech event space across 19 rooms including Windows on Minnesota, a venue situated on the 50th floor of the IDS Center, consistently in high demand as the host location for many of the city’s most upscale events. Additional features and amenities include some of the largest guestrooms in the Minneapolis market, two signature dining outlets—The Jolliet House Social Club and The Marquette Lounge and direct access to the Minneapolis Skyway.

Triton plans to invest approximately $ 4 million of additional capital into the property on projects that include a reimagination of the hotels’ food and beverage outlets, the addition of two state-of-the-art Topgolf Swing Suites, aesthetic enhancements to Windows on Minnesota, a transformed fitness center and an all new, energy-efficient, guestroom HVAC system.

AJ Capital Partners acquires Slieve Donard Resort & Spa in Northern Ireland
Adventurous Journeys (AJ) Capital Partners has acquired Slieve Donard Resort & Spa in Newcastle, County Down in Northern Ireland. The property has been acquired from Hastings Hotels who has operated the property since 1972. Positioned adjacent to the world-renowned Royal County Down Golf Club, the 181-key hotel will be the first Marine & Lawn Hotels & Resorts property in Northern Ireland and the fourth hotel in the collection. Slieve Donard Resort & Spa will join Marine & Lawn properties launched this summer, including Rusacks St Andrews in St Andrews, Scotland; Marine North Berwick in North Berwick, Scotland; and Marine Troon in Troon, Scotland.

The property offers four food and beverage venues, 11 meeting and conference rooms, a ballroom and a two-floor spa, which includes a swimming pool, vitality pool, fitness studio, steam room, relaxation room and 14 treatment rooms. Slieve Donard is located 30 miles south of Belfast and 90 miles north of Dublin. Regarded as one of the most iconic hotels in Northern Ireland, it has served as host to several prominent golf events, including The British Amateur Championship, The Curtis Cup, The Walker Cup and, most recently, the Dubai Duty Free Irish Open.

The hotel will continue to operate in its current form through summer 2022, including the annual Santa’s Polar Express Christmas experience. Renovations to the property will begin in October 2022 and culminate in the spring of 2023. Upon reopening, the reimagined Slieve Donard will offer decor inspired by the narratives of the destination’s rich past, including updated guestrooms and renovated food and beverage and meeting and event spaces.

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