Latest news: Brown Palace for sale; $75M refi in California; trade in Texas

Pair of Denver hotels up for sale. Fort Worth, Texas-based Crescent Real Estate has put the historic Brown Palace Hotel and Spa hotel and an adjacent Holiday Inn Express in Denver up for sale, according to a story in The Denver Post. Crescent purchased the two hotels from Dallas-based Crow Holdings for $125 million and the investment fund holding them is winding down. Crescent has retained Newmark for the sale.

Texas hotel sells. Lewisville, Texas-based Texoma 35, LLC has sold the 83-key Fairfield Inn & Suites Gainesville I-35 located in Gainesville, Texas, to an undisclosed buyer for an undisclosed amount. The hotel was built in 2019 and Hunter Hotel Advisors brokered the transaction.

$75M California hotel refi. Seattle-based San Carlos Associates has secured a $75 million first mortgage loan to refinance the Marriott Monterey hotel in downtown Monterey, California. The non-recourse, fixed-rate, five-year loan is interest only for the term and was funded by Goldman Sachs. Sonnenblick-Eichner Co. arranged the financing.

HE adds ski resort. Atlanta-based Hotel Equities is adding the Sun Mountain Lodge, a 2,000-acre mountain resort overlooking Washington’s Methow Valley, to its management portfolio. The resort is owned by Seattle-based GEM Real Estate Partners and has approximately  7,000 sq. ft. of indoor meeting and event space.

Island adds in Nashville. West Palm Beach, Florida-based Island Hospitality Management has added the 193-key TownePlace Suites by Marriott Nashville Midtown to its management portfolio. The upscale extended-stay product sits in Nashville’s Midtown neighborhood. Island operates more than 80 properties across 27 states and Washington, D.C.

A&O adding in Berlin. A&O Hostels, Europe's largest hostel chain, has acquired a 31,000 sq. meter vacant office building in Berlin near Checkpoint Charlie from PIMCO Prime Real Estate on behalf of Allianz for an undisclosed amount. A&O will spend €40 million on the adaptive reuse of the building, which it says will be Europe’s largest hostel with approximately 2,500 beds. This is A&O’s fifth asset in Berlin, totaling 8,000 beds. The expansion is part of an overall €500 million expansion backed by StepStone Group and Proprium Capital Partners.

Strong start for extended-stay. Extended-stay hotels made a comparatively strong start to the year in January, with most performance metrics outpacing the corresponding classes of all hotels, according to Highland Partners. Furthermore, supply growth ticked down, while demand and room revenues posted their highest monthly gains in more than one year. Following December 2025, January’s decline in RevPAR was the smallest since contracting began in April 2025. “With the overall hotel industry showing signs of emerging from the downturn, January’s relatively strong extended-stay hotel performance is a good early indicator for 2026,” said The Highland Group's Mark Skinner.

South Korean hotel sells. South Korea-based Sungho Electronics Corp. has acquired the 260-key Signiel Busan hotel in South Korea for KRW150 billion from South Korea-based LCT PFV Co., Ltd., according to HVS. The transaction covers floors 3 to 19 of the Landmark Tower. The property is managed by Lotte Hotels & Resorts, a South Korean company, and includes five F&B outlets.

Japan REIT acquires property. Japan-based ESCON Japan REIT Investment Corp. has acquired the 130-key Compass Hotel Nagoya in Aichi Prefecture in Japan for JPY4.4 billion, according to HVS. The property will cease operations under its existing brand and is scheduled to reopen in July following refurbishment and rebranding as Sono Moon Nagoya. It will be managed by Sono International, a South Korean company, under a new agreement. The hotel originally opened in 2019.

Melbourne property trades. The newly developed 128-key Trio Hotel at Box Hill, Victoria, Melbourne has been sold for AUD30.7 million to a private Chinese investor, according to HVS. The property was completed with vacant possession, providing the purchaser flexibility in branding and operator appointment.