Latest news: APA acquires in Seattle; Starwood selling NYC 1?; AHT sells 2 more

Starwood looks to sell NYC hotel. Starwood Capital Group is nearing a deal to sell the 1 Hotel Central Park in New York City to Bethesda, Maryland-based Host Hotels & Resorts, according to a Bloomberg report. The 230-key hotel was opened in 2015 as part of Barry Sternlicht’s 1 Hotel brand. According to the story, Starwood sought more than $1 million per key for a proposed sale in 2016 that did not go through. Host recently purchased the Turtle Bay Resort in Hawaii from Blackstone and also struck a deal to buy two hotels in Nashville earlier this year.

Ashford Hospitality Trust sells 2. Dallas-based REIT Ashford Hospitality Trust has closed on the sale of the 90-key SpringHill Suites and the 86-key Fairfield Inn, both located in Kennesaw, Georgia, for $17.5 million to an undisclosed buyer. The price represented a 4.8% capitalization rate on trailing 12-month net operating income through April 2024. The hotels had a mortgage with an outstanding balance of approximately $10.8 million. The remaining proceeds from the sale will be used for general corporate purposes, including paying down strategic financing.

APA acquires Hilton Seattle. Toyko-based APA Hotel Co. has acquired the 256-key Hilton Seattle through its U.S. subsidiary, APA Hotel USA, from an undisclosed buyer for an undisclosed amount. The property will immediately be rebranded as Coast Seattle Downtown Hotel by APA and will be managed by Denver-based Stonebridge Hospitality Management. APA Hotel Co. made its international debut in 2015 and acquired Coast Hotels Ltd. in 2016. Coast Hotels has a portfolio of over 40 properties.

Silverwest building in Hawaii. Denver-based Silverwest Hotels and its institutional equity partners have closed a $150 million senior loan to finance the construction of a 210-key Curio Collection by Hilton hotel on the island of Kauai, Hawaii. Dallas-based alternative investment manager Civitas Capital Group is providing the senior loan.

Sundance Resort breaks ground. Sundance Mountain Resort broke ground on its Sundance Resort in Utah. The 63-key resort, located at the ski resort’s base village, is scheduled to open in 2025 or 2026. This is the start of the second part of the project’s expansion.

Marriott debuting Tribute Portfolio in Egypt. Marriott International and Egyptian real estate developer SODIC are partnering to introduce the Tribute Portfolio brand to Egypt. Two new hotels under the Tribute Portfolio flag will be built: a 170-key hotel in West Cairo that will open in 2027 within SODIC’s flagship mixed-use development, SODIC West, and another on the North Coast will have 180 rooms and open in 2029 inside SODIC’s Miami-inspired beachfront development in the Ras Al Hekma area, called June. Including these hotels, Marriott will have 18 properties and more than 7,000 rooms in Egypt.

Capella adds in KSA. Bangkok-based Capella Hotels and Resorts is opening an 80-key resort within NEOM at Elanan in northwest Saudi Arabia. The company is also opening a wellness resort that is scheduled to open in 2027.

Soho House adds in Tokyo. London-based Soho House is opening its first location in Japan with the 42-key Soho House Tokyo. It will be the fourth Soho House in Asia and is scheduled to open in 2026. The company recently announced it was opening a new location in Sydney.

PRG Hospitality rebrands to Common Thread. Los Angeles-based PRG Hospitality Group is rebranding to Common Thread Hotels. The company’s current collection includes eight hotels within California. All the hotels and any new future openings, including destinations in Carmel-by-the-Sea and Paso Robles, California, will be branded under the Common Thread Hotels umbrella.

Meliá debuts Meliá Collection Hotel in Vietnam. Palma, Spain-based Meliá Hotels International will open its first hotel in its Meliá Collection Hotel in Vietnam with the Meliá Ba Vi Mountain Retreat. The 55-key hotel will undergo renovations, and the name change will take place in May 2025.  

Prima acquires in London. Singapore-based private equity real estate firm Prima Asset Management has acquired a freehold hotel in London’s Paddington submarket. Prima acquired the Victoria Garden Hotel in partnership with London-based Capilon Group and will increase key count from 68 to 80 following a S$70 million renovation.

Columbia expands to Texas. Seattle-based Columbia Hospitality has signed to manage the Colton House Hotel in Austin, which marks the company’s expansion into Texas.