Q2 2021 Major U S Hotel Sales Survey | By Daniel Lesser – Hospitality Net hospitalitynet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitynet.org Daily Mail and Mail on Sunday newspapers.
Braemar Hotels & Resorts Inc. today announced the opening of The Notary Hotel in the heart of Downtown Philadelphia. Listed on the National Register of Historic Places, the former Courtyard by Marriott Philadelphia Downtown underwent a rebranding and renovation in excess of $20 million to create The Notary Hotel. Located at 21 North Juniper Street, the property now features 499 guest rooms and over 10,000 square feet of conference space throughout 12 event rooms. It joins Marriott International’s Autograph Collection Hotels, a diverse portfolio of approximately 180 independent hotels around the world that reflect unique vision, design and environments.
“After approximately two years of design and construction on The Notary Hotel, we are delighted to finally announce its formal grand opening as a member of the Autograph Collection by Marriott,” said Richard J. Stockton, Braemar’s President and Chief Executive Officer. “As of today, the hotel is available for booking as an A
Braemar Hotels & Resorts Announces Preliminary RevPAR Results For Second Quarter 2021 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Braemar Hotels & Resorts Announces Agreement To Acquire The Mr. C Beverly Hills Hotel
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Luxury hotel ideally located in close proximity to high-end shopping on Rodeo Drive and business demand from Century City and Culver City.
The Company will issue 2.5 million units in its Operating Partnership ( OP units ) and 500,000 warrants to the seller as part of the consideration for this acquisition, in addition to $30 million of cash (the majority of which will be used to paydown existing debt).
Attractive price per key of $474,000 for fee simple ownership of a luxury hotel.
Revenue per available room (RevPAR) of $251.14 for the 12 months ended December 31, 2019.
Dallas-based Braemar Hotels and Resorts Inc. is getting back into the hotel-buying business, spending nearly $80 million to acquire a 138-room hotel in.