TownePlace Suites

Hotel Management Company Aqua-Aston Hospitality Announces Brand Updates for Fall 2023, Expands Footprint in North America

Retrieved on: 
Thursday, November 16, 2023

HONOLULU, Nov. 16, 2023 /PRNewswire/ -- Hotel management company Aqua-Aston Hospitality, operating more than 25 properties in Hawaii, Arizona and Costa Rica, announces key updates for fall 2023:

Key Points: 
  • Aqua-Aston Hospitality shifted to bulk bathroom amenities across its Hawaii properties, eliminating 5.5 million pieces of single-use plastic waste from operations.
  • The brand seeks to help further limit single-use plastic by providing complimentary tote bags and reusable water bottles to A-List subscribers.
  • Aqua-Aston Hospitality is combatting local hunger by holding its annual Harvest for Hunger food drive through November 30, 2023.
  • With one in six people across the state struggling with food insecurity, this initiative puts food on tables in Hawaii.

Chatham Lodging Trust Announces Third Quarter 2023 Results

Retrieved on: 
Thursday, November 2, 2023

The renovations of the Hilton Garden Inn Marina Del Rey, Calif., Homewood Suites San Antonio, Texas, and Hyatt Place Denver Cherry Creek, Colo., will commence during the 2023 fourth quarter.

Key Points: 
  • The renovations of the Hilton Garden Inn Marina Del Rey, Calif., Homewood Suites San Antonio, Texas, and Hyatt Place Denver Cherry Creek, Colo., will commence during the 2023 fourth quarter.
  • Chatham has no additional debt maturing in 2023 and has $298 million maturing in 2024.
  • The company expects the fourth quarter common and preferred dividends per share will be the same as the third quarter.
  • The company will hold its third quarter 2023 conference call later today at 10:00 a.m. Eastern Time.

Crawford Hoying Adds Fourteenth Hotel to Company Portfolio in Partnership With Operator, Shaner Hotels

Retrieved on: 
Monday, September 11, 2023

Crawford Hoying is excited to announce the acquisition of Homewood Suites by Hilton Columbus OSU in partnership with award-winning, international hotel owner, operator and developer, Shaner Hotel Group .

Key Points: 
  • Crawford Hoying is excited to announce the acquisition of Homewood Suites by Hilton Columbus OSU in partnership with award-winning, international hotel owner, operator and developer, Shaner Hotel Group .
  • This is the fourteenth hotel within Crawford Hoying’s portfolio, which now includes more than 1,800 hotel keys.
  • “This hotel is a perfect fit for our growing portfolio, and we would love to explore more properties like it,” said Brent Crawford, Principal of Crawford Hoying.
  • “This was a strategic and opportunistic acquisition for the partnership,” said Plato Ghinos, President of Shaner Hotels.

Chatham Lodging Trust Debt Issuance Clears Path Through 2025

Retrieved on: 
Friday, September 1, 2023

Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded, select-service hotels, today announced that it has issued approximately $83 million of fixed-rate debt since mid-August, including $24.5 million maturing in five years and $58.4 million maturing in ten years.

Key Points: 
  • Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded, select-service hotels, today announced that it has issued approximately $83 million of fixed-rate debt since mid-August, including $24.5 million maturing in five years and $58.4 million maturing in ten years.
  • The debt issuance is comprised of five individual first mortgage loans.
  • “With these issuances and availability under our unsecured credit facility, we have the ability to repay all debt due through 2024 and will only have to address one $19 million maturing mortgage in 2025,” emphasized Dennis Craven, Chatham’s chief operating officer.
  • The 10-year loans carry a fixed interest rate of 7.3 percent per annum and are interest only for the duration of the loan.

Chartwell Hospitality and Rockbridge Break Ground on Three Hotel Portfolio in Middle Tennessee

Retrieved on: 
Friday, June 30, 2023

Chartwell Hospitality and Rockbridge today announced they are expanding premium hospitality options in Middle Tennessee by developing three new hotels in high-growth neighborhoods.

Key Points: 
  • Chartwell Hospitality and Rockbridge today announced they are expanding premium hospitality options in Middle Tennessee by developing three new hotels in high-growth neighborhoods.
  • With the influx of people and businesses, the Middle Tennessee area is in high demand for a variety of lodging options,” said Will Schaedle, Executive Vice President of Chartwell Hospitality.
  • Chartwell Hospitality and Rockbridge partnered on all three, new hotel developments.
  • Chartwell and Rockbridge are also partners on the 298-room Hilton at Nashville International Airport (BNA).

Marriott International Announces Plans to Expand in Affordable Midscale Segment with New Extended Stay Lodging Brand

Retrieved on: 
Monday, June 5, 2023

BETHESDA, Md., June 5, 2023 /PRNewswire/ -- Marriott International, Inc. (Nasdaq:MAR) announced today, in connection with the 2023 NYU International Hospitality Industry Investment Conference, its plans to further expand in the affordable midscale lodging segment, following its recent entry into the segment with City Express by Marriott in Latin America.  Consistent with the company's approach to meeting the needs of guests with regionally relevant lodging products for every stay purpose, Marriott is announcing its plans to launch a new brand, which has not yet been named, but is currently being referred to as Project MidX Studios. The affordable midscale extended stay brand is intended to deliver reasonably priced modern comfort for guests seeking longer stay accommodations in the U.S. & Canada.

Key Points: 
  • Building Off Industry Leadership in Extended Stay, Marriott International Plans to Launch Affordable Midscale Extended Stay Offering in U.S. & Canada
    BETHESDA, Md., June 5, 2023 /PRNewswire/ -- Marriott International, Inc. (Nasdaq:MAR) announced today, in connection with the 2023 NYU International Hospitality Industry Investment Conference, its plans to further expand in the affordable midscale lodging segment, following its recent entry into the segment with City Express by Marriott in Latin America.
  • The affordable midscale extended stay brand is intended to deliver reasonably priced modern comfort for guests seeking longer stay accommodations in the U.S. & Canada.
  • Marriott's track record in extended stay and strong owner value proposition are compelling and driving our interest in growing this brand within our portfolio."
  • With our plans for Project MidX Studios, we will have an extended stay product in every lodging tier—from affordable midscale to upper upscale and luxury—for our customers and our owners and franchisees."

Shaner Hotels Acquires 86-Room Hampton Inn & Suites by Hilton Hershey in Pa.

Retrieved on: 
Thursday, May 18, 2023

Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced the acquisition of the 86-room Hampton Inn & Suites by Hilton Hershey in Pa. Shaner also will operate the property and plans to implement $1.2 million in renovations to completely remodel guest rooms.

Key Points: 
  • Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced the acquisition of the 86-room Hampton Inn & Suites by Hilton Hershey in Pa. Shaner also will operate the property and plans to implement $1.2 million in renovations to completely remodel guest rooms.
  • Additionally, the company announced that it will break ground on another hotel, a TownePlace Suites scheduled to break ground in the coming months.
  • “Alongside our sister hotels, the Courtyard Hershey Chocolate Avenue and the Fairfield Inn Harrisburg International Airport, the Hampton Inn & Suites by Hilton Hershey further establishes our presence in the Hershey/Harrisburg marketplace,” said Plato Ghinos, president, Shaner Hotels.
  • “The Hampton Inn & Suites by Hilton benefits from its prime location directly across the street from Hersheypark, making it the closest Hilton-branded product in the area to the family amusement park.

Peachtree Hospitality Management Enters Third-Party Management Agreements with TEKMAK Development Company

Retrieved on: 
Wednesday, March 15, 2023

Peachtree Hospitality Management ("PHM") has entered into agreements with TEKMAK Development Company (“TEKMAK”), a full-service hospitality development company, to provide third-party management services for a portion of its hotel portfolio.

Key Points: 
  • Peachtree Hospitality Management ("PHM") has entered into agreements with TEKMAK Development Company (“TEKMAK”), a full-service hospitality development company, to provide third-party management services for a portion of its hotel portfolio.
  • View the full release here: https://www.businesswire.com/news/home/20230315005276/en/
    Peachtree Hospitality Management ("PHM") has entered into agreements with TEKMAK Development Company (“TEKMAK”), a full-service hospitality development company, to provide third-party management services for a portion of its hotel portfolio.
  • I am impressed with all aspects of this company, particularly their management division," said Thomas Kirkland, CEO, TEKMAK.
  • We continue to be impressed by their enthusiasm for TEKMAK, and we look forward to future opportunities together."

Marriott International Marks Another Year of Strong Acceleration in Signings

Retrieved on: 
Monday, January 23, 2023

"We were pleased with the accelerating pace of development activity in 2022 as the global recovery continued," said Anthony Capuano, CEO, Marriott International.

Key Points: 
  • "We were pleased with the accelerating pace of development activity in 2022 as the global recovery continued," said Anthony Capuano, CEO, Marriott International.
  • "We have seen a tremendous year of growth in our international regions," said Carlton Ervin, Global Development Officer, International, Marriott International.
  • Select service development opportunities continue to be a key growth driver for Marriott, representing three-quarters of global deal signings and nearly half of signings across international regions.
  • Marriott's select service portfolio provides an array of brands including Courtyard by Marriott, Fairfield by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, Aloft Hotels, AC Hotels by Marriott and Moxy Hotels.

Clay Town Center Welcomes TownePlace Suites to Development

Retrieved on: 
Monday, January 30, 2023

MIDDLEBURG, Fla., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Clay Town Center is pleased to announce the addition of a five-story TownePlace Suites by Marriott to its development.

Key Points: 
  • MIDDLEBURG, Fla., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Clay Town Center is pleased to announce the addition of a five-story TownePlace Suites by Marriott to its development.
  • All TownePlace Suites by Marriott are designed to provide comfortable accommodations for business travelers, vacationers, and others who seek longer-term stays.
  • "This TownePlace Suites is an exciting and necessary addition to the Clay Town Center development."
  • A partnership between Clay Town Center Hospitality and Kellogg & Kimsey Inc., as well as the local Clay County city planners, the hotel will be located at 1625 Jeremiah Street in the Clay Town Center development.