Summer transactions heat up
As the hospitality industry completes its climb out from the COVID-19 pandemic, hotels across North America are changing hands, including a property in downtown Minneapolis and vacation resorts in Mexico.
MCR purchases and opens The Chambers Hotel in Minneapolis
MCR has acquired 60-room The Chambers Hotel in downtown Minneapolis’ historic theater district.
MCR rebranded the hotel, formerly a Le Meridien, as an independent property complete with a new logo and website. The logo, which has a simple, modern C, is a nod to the hotel’s name and the building’s shape. Throughout the hotel, design features incorporate double Cs in celebration of its home in the Twin Cities.
Built in 1908, The Chambers Hotel is now open after being closed for nearly a year. The property’s art-infused guestrooms and suites have walk-in rain showers, deep soaking tubs and views of downtown.
The Chambers has more than 12,500 sq. ft. of event space—including a courtyard with a fire pit overlooking Hennepin Avenue. The 3,000-sq.ft. rooftop lounge has floor-to-ceiling windows and a terrace overlooking Hennepin Avenue.
Playa Hotels & Resorts completes sale of Capri Hotel
Playa Hotels & Resorts NV has completed the sale of the Capri Hotel for a total consideration of $55 million in cash. In conjunction with the closing of the transaction, the new owner has signed a franchise agreement with Hyatt Hotels to rebrand the resort as the Hyatt Zilara Riviera Maya following renovations.
The transaction increased the company’s liquidity by approximately $48.8 million, reflecting the $55 million consideration net of customary closing costs. Proceeds from the sale of the resort will be utilized for general business purposes and reducing the company’s outstanding debt.
St. Regis Punta Mita beachfront hotel in Mexico sold
JLL Hotels & Hospitality has closed the sale of the beachfront St. Regis Punta Mita Resort, located in Punta de Mita, Nayarit, Mexico.
JLL represented the seller to complete the sale to a joint venture owned by Vertex Real Estate Investors, through its Fund II, and Grupo MRP, through its Fund V.
The resort opened in 2008 and consists of a total of 120 keys, including 31 suites. The hotel also has six food and beverage outlets, 7,806 sq. ft. of indoor and terrace meeting and conference space, an indoor/outdoor spa totaling 14,235 sq. ft., a 2,863-sq.ft. fitness center, three infinity pools with hot tubs, a children’s club, and more than 1,600 sq. ft. of boutique and retail space. It also offers access to a Championship 18-hole Jack Nicklaus Signature Golf Course, a private beach and tennis center containing five courts.
The JLL Hotels & Hospitality team representing the seller was led by Managing Director Gregory Rumpel and SVP Carolina Lacerda.
Hilton-branded portfolio sold
Hunter Hotel Advisors has advised on the sale of four Hilton-branded hotels. Three of the properties are located within the Huntsville, AL, MSA and the fourth hotel is in Opelika, AL, off of I-85 near Auburn University.
The portfolio comprises the newly opened Hilton Garden Inn Madison Huntsville Airport and three Home2 Suites by Hilton: Madison Huntsville Airport, Decatur Ingalls Harbor, and Opelika Auburn.
Hunter was represented by SVP Tim Osborne.
Wylder Hotels acquires Thompson House Resort in Windham NY
Wylder Hotels has acquired The Thompson House Resort in Windham, NY. The group plans to reimagine, restore and honor the history of the resort, set to reopen in the spring of 2022.
Wylder Windham will be the third outpost in the Wylder Hotels collection, following the openings of Wylder Hope Valley and Wylder Tilghman Island in 2018.
The Thompson House is a 110-room full-service resort on 20 acres with 140 years of the same family ownership. Located in the Greater Northern Catskills, the property is adjacent to the Windham Mountain and Windham Country Club, with the Batavia Kill River running through it—providing ample outdoor experiences for guests to enjoy.
Paying homage to its nostalgic past, the restoration will be inspired by a sense of place and all that Windham has to offer, from the surrounding nature to its classic charm and small-town nostalgia.
Columbia Pacific Advisors arranges $27M loan for Hyatt Hotel Nue in L.A.
Columbia Pacific Advisors Bridge Lending, a platform within Columbia Pacific Advisors, has provided a $27 million construction completion bridge loan to recapitalize the Hyatt Hotel Nue in Los Angeles.
The hotel has 64 guestrooms and will include a ground floor lobby and restaurant, rooftop bar, contemporary lounge and pool area featuring views of the Hollywood Hills and Los Angeles skyline, as well as an underground parking garage. The concept is part of the Hyatt Unbound collection.The seven-story boutique-style hotel is owned by S3D Partners, LLC, a family-run business led by Jayesh Kumar with more than 22 years of experience in investing, developing, and operating hotels. The group currently owns or maintains an interest in 12 other hotels throughout California and Texas.