Acquisitions & Hotel Openings

Phoenix American Hospitality Acquires Seven Select-Service Hotels in $109M Transaction

DALLAS, TX. July 18, 2017 - Phoenix American Hospitality, a Dallas-based hotel fund manager, announces the $109M purchase of seven upscale select-service hotels in Arkansas, Louisiana and Florida.

This acquisition of one Hilton and six Marriott properties adds 778 rooms to the Phoenix American Hospitality portfolio. So far in 2017 Phoenix American Hospitality has purchased 13 properties totaling 1532 rooms in nine states. These acquisitions were purchased through a joint venture arrangement with Aspect Investment Partners Ltd.

The newly acquired properties include:

• TownePlace Suites by Marriott Fayetteville North/Springdale

• ALOFT Rogers-Bentonville

• Fairfield Inn & Suites by Marriott Jonesboro

• Courtyard by Marriott Baton Rouge

• Residence Inn by Marriott Baton Rouge

• TownePlace Suites by Marriott New Orleans Metairie

• Hampton Inn & Suites Fort Myers

“Each of these properties is a meaningful addition to our growing portfolio,” said Perch Nelson, President of Phoenix American Hospitality. “We anticipate a strong partnership and long-term success with each property”.

"We are constantly looking for value add opportunities across multiple sectors within the US Real Estate space, and this transaction falls right within our criteria” said Ahmed Farid, President of Aspect Investment Partners.

For more information, please visit www.phoenixamericanhospitality.com, call (214) 750-2967.  

Coming Up In The September Online Hotel Business Review




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Feature Focus
Hotel Group Meetings: Blue Skies Ahead
After a decade of sacrifice and struggle, it seems that hotels and meeting planners have every reason to be optimistic about the group meeting business going forward. By every industry benchmark and measure, 2017 is shaping up to be a record year, which means more meetings in more locations for more attendees. And though no one in the industry is complaining about this rosy outlook, the strong demand is increasing competition among meeting planners across the board – for the most desirable locations, for the best hotels, for the most creative experiences, for the most talented chefs, and for the best technology available. Because of this robust demand, hotels are in the driver’s seat and they are flexing their collective muscles. Even though over 100,000 new rooms were added last year, hotel rates are expected to rise by a minimum of 4.0%, and they are also charging fees on amenities that were often gratis in the past. In addition, hotels are offering shorter lead times on booking commitments, forcing planners to sign contracts earlier than in past years. Planners are having to work more quickly and to commit farther in advance to secure key properties. Planners are also having to meet increased attendee expectations. They no longer are content with a trade show and a few dinners; they want an experience. Planners need to find ways to create a meaningful experience to ensure that attendees walk away with an impactful memory. This kind of experiential learning can generate a deeper emotional connection, which can ultimately result in increased brand recognition, client retention, and incremental sales. The September Hotel Business Review will examine issues relevant to group business and will report on what some hotels are doing to promote this sector of their operations.