65-PROPERTY SONESTA PACK SELLS FOR $514M: Service Properties Trust, the Newton, Mass.-based REIT, has sold a 65-property, 7,865-key hotel portfolio located across 27 states to 21 separate buyers for $514 million. The buyers mostly comprise family offices and a few private equity firms. The portfolio includes 14 Sonesta Simply Suites, 32 Sonesta ES Suites and 19 Sonesta Select hotels. More than half of the portfolio’s 65 properties are located in the top 25 most populated metro areas in the U.S. In terms of region, Midwest has the most number of hotels (20) and most rooms (2,364). With 18 hotels and 2,347 rooms, the Northeast/Mid-Atlantic has the second highest concentration. CBRE arranged the sale of the portfolio.
SIX SENSES TO OPEN IN TEL AVIV: Six Senses has unveiled plans for Six Senses Tel Aviv, the brand’s second property in Israel. The plan includes five, 110-year-old preservation buildings, which will be joined together at the edge of Rothschild Boulevard. Once complete, the 42-story tower will consist of the 10-story, 140-key Six Senses hotel and 55 residences, rising 21 more floors and serviced by Six Senses. The project will also have spa and wellness facilities, a social and wellness community, a sky pool with a cocktail lounge, along with a restaurant, café and bar. The project was initiated by Tidhar Group and joined by Israeli entrepreneur Ziv Aviram in 2020. Orly Shrem is designing the interiors of the building. The Six Senses Tel Aviv is set to open in late 2025.
HVMG EXPANDS PORTFOLIO: Atlanta-based Hospitality Ventures Management Group (HVMG) has added the 117-room Holiday Inn Steamboat Springs in Colorado to its portfolio of third-party managed hotels in the U.S. The hotel is owned by KSL Capital Partners affiliate, Mission Hill Hospitality. The hotel includes 880 square feet of meeting space, a restaurant, pools and a 24/7 fitness center. Currently, HVMG operates 54 hotels totaling 8,741 rooms across 16 states.
SANDPIPER LODGING ADDS FIVE EXTENDED-STAY HOTELS: Sandpiper Lodging Trust, based in Richmond, Va., has completed the acquisition of five operating hotels from affiliates Sandpiper Hospitality III, LLC and Sandpiper Hospitality IV, LLC that operate under the WoodSpring Suites brand. These five properties are located in White Marsh, Md., Greenbelt, Md., Virginia Beach, Va. and two in Baton Rouge, L.a. With this deal, Sandpiper owns 28 extended stay hotels in nine states. The transaction was funded with a combination of borrowing under the company’s expanded $200 million revolving credit facility, the assumption of existing debt on certain of the acquired assets and the rollover of the majority of investor equity in the affiliated funds. Together with its affiliated funds, Sandpiper owns 35 extended-stay hotels under several brands.
MINA RECOGNITION FOR HEI: HEI Hotels & Resorts has been recognized in this year’s Marriott International National Association (MINA) & Full Service Owners Conference Awards as one of two in its prestigious Partnership Circle. Award winners in this category are inducted into the Partnership Circle Hall of Fame and are recognized as one of Marriott’s closest partners. The annual Marriott conference recognizes participants based on their overall partnership with Marriott International and their guest satisfaction results, engagement in key brand strategies and ability to drive growth through additional hotels. HEI has been working with Marriott for over 20 years and currently manages a portfolio of 56 properties as well as two food and beverage outlets.