Hotel & Motel Management: Transactions

CSM Lodging acquired two hotels in the Portland, Ore., area---The Residence Inn Portland South/Lake Oswego and the Residence Inn Portland North/Vancouver. The properties were purchased from Innkeepers USA Trust for an undisclosed amount. Molinaro Koger brokered the sale of the properties.

Connecticut Hotel Group acquired the 82-room Holiday Inn Express in East Haven, Conn., for an undisclosed sum from an undisclosed seller. CT Hotel Group is planning an extensive renovation and conversion of the property to a Quality Inn.

Destination Hotels & Resorts, a subsidiary of Lowe Enterprises, acquired the 215-room Miramonte Resort & Spa in Indian Wells, Calif., from Preferred Hotels & Resorts for $29 million. DH&R plans to invest more than $5 million for upgrades and renovations.

Hersha Hospitality Trust acquired the 109-room Fairfield Inn-Laurel in Maryland from Bernstein Cos. for an undisclosed amount. Hersha plans to invest about $1 million to upgrade the hotel, and will also manage the property.

Atlanta-based Hodges Ward Elliott's Focused Service Division sold 10 properties representing 1,318 rooms and about $40 million during the fourth quarter of 2004. Properties sold include: Holiday Inn Express hotels in Omaha, Neb., (78 rooms) and Nashville, Tenn. (202 rooms); Courtyard by Marriott hotels in Suwanee, Ga., (78 rooms) and Lithia Springs, Ga. (78 rooms); Holiday Inn hotels in Peoria, Ill., (250 rooms) and Denver (235 rooms); Fairfield Inn hotels in Willowbrook, Ill., (129 rooms) and Florence, Ky. (135 rooms); Wingate Inn in Jacksonville, Fla. (81 rooms); and Camilia Inn in Camilia, Ga. (52 rooms).

Interstate Hotels & Resorts acquired the 329-room Hilton Concord in San Francisco's East Bay area. The property was purchased from Newport Beach, Calif.-based Hanford Hotels for $29.15 million. Interstate will manage the hotel.

An affiliate of JER Partners purchased the 751-room Westin Michigan Avenue in Chicago for an undisclosed sum. Jones Lang LaSalle Hotels arranged the sale on behalf of a subsidiary of Westin Hotels Limited Partnership.

Molinaro Koger advised North Rush Street Associates LP in the sale of the 324-suite Lenox Suites Hotel in Chicago to James Hotels for an undisclosed sum. The new owners will manage the property and complete a comprehensive renovation.

Boston-based Pyramid Hotel Opportunity Ventures LLC acquired the 423-room Hyatt Regency in Oak Brook, Ill., for an undisclosed amount. Jones Lang LaSalle Hotels arranged the sale on behalf of Hyatt Hotel Corp. The hotel was converted and opened as the Doubletree Hotel, Chicago-Oak Brook. The property is scheduled to undergo about $15 million in renovations over the next 12 to 18 months.

Atlanta-based Thompson Calhoun Fair LLC advised Lodgian in the disposition of the 189-room Four Points by Sheraton in Niagara Falls, N.Y. The property was sold to a private investment group for an undisclosed sum.

Jones Lang LaSalle Hotels arranged the refinancing of the 700-room Westin Charlotte (N.C.) on behalf of StarPort I, an affiliate of Portman Holdings.

Sonnenblick-Goldman Co., serving as financial advisor to Hotspur Nevada Resorts, arranged $155 million of first-mortgage financing for the 541-room J.W. Marriott Las Vegas Resort & Spa at Summerlin.

Boutique Hotels & Resorts International added four hotels to its portfolio. Joining Boutique are: Le Vendome in Cape Town, South Africa; The Caribbean Mago Hotel in St. Lucia; The Sun Mountain Lodge in Winthrop, Wash.; and The Pacific Terrace in San Diego.

Lelu Lodging LLC joined the AmericInn International LLC franchise system by obtaining ownership of the AmericInn Motels & Suites in Marshalltown, Iowa.

AmericInn International LLC opened a 66-room hotel in Rexburg, Idaho. The property is owned by Golden Beauty Hospitality LLC and is managed by Three Rivers Hospitality LLC.

The Fantasy Springs Resort and Casino celebrated the grand opening of its first phase in Indio, Calif. The Cabazon Band of Mission Indians own the property, and completed $200 million worth of improvements.

Choice Hotels International announced the opening of three hotels. The 293-room Clarion Hotel Oakland (Calif.) Airport is owned by Oakland Hotel Ventures LLC of San Diego. The 79-room Comfort Inn Alamo/Riverwalk in San Antonio, Texas, is owned and operated by Shyam Enterprises of San Antonio. The new 60-room Comfort Suites in Baytown, Texas, is owned and operated by Lacminarayan Inc. of Houston.