Host has sold The Camby in Phoenix Latest HITs: Azora buys in Madrid; KHP Capital Partners buys from HostMarch 17, 2023Share The latest hotel development and M&A news from around the world. Azora buys in Madrid. Meridia Capital, through its vehicle Meridia RE III, has sold to Madrid-based investor Azora the 199-room Madrid Chamartín (formerly Tryp Chamartín) for €34.6 million. The transaction, which yields a capital gain of €7.5 million for Meridia, includes two adjacent commercial spaces and 94 parking spaces. Meridia acquired the asset for €27.5 million in January 2019. The hotel is located near the Madrid Nuevo Norte mega-development project.Host sells to KHP in Phoenix. KHP Capital Partners has reportedly acquired the 277-room Camby, an Autograph Collection hotel in Phoenix, for $110 million ($397,000 per key) from Host Hotels & Resorts, who provided $84.45 million of seller financing. The sale price equates to 12.5x Hotel EBITDA and a 7.1% NOI cap rate, reported R.W. Baird. The hotel, built in 1998 as a Ritz-Carlton, is located across the street from Biltmore Fashion Park. Host renovated and rebranded as The Camby in late 2015.San Jose site heads to auction. A site in San Jose, California, slated to become a 200-room hotel is reportedly headed to auction due to a delinquent loan. South Korea-based Mirae-San Jose bought the 3.2 acres of land for the hotel site in 2019, paying $22.5 million. Mirae took a $26.4 million loan at the time of the deal from Pine Tree Specialized Private Investment Trust and KEB Hana Bank. The lenders reported the loan was in default in October 2022. At that time, the total owed, including interest, late fees and penalties, had swelled to $34.4 million.Europe's hot spots. Ten cities in Europe are the most popular for hotel investment in 2023, according to new data from Deloitte. The first three cities on the list are Amsterdam, Lisbon, and London. Paris, Madrid, and Barcelona follow. Rome, Berlin, Athens, and Dublin occupy the last four places on the list. The report also showed that the U.K. (37%), Germany (29%), and Ireland (28%) are now considered destinations with low investment interest. Greece (31%), Spain (33%), and Portugal (33%) have shown increased investor interest. In the U.K., Edinburgh is the number one region for investors’ interest. Further, the report stated that private equity was the main investment format for new hotels in 2022.Quality Inn in Florida sells. The recently renovated 117-room Quality Inn Kennedy Space Center in Titusville, Florida has been sold by Frontier Hospitality LLC for $7.4 million to Jay Jagannath Hospitality LLC. DSH Hotel Advisors represented the seller and the buyer.