Latest news: Chartres buys in LA; MG Developer adds in Miami; Pandox buys again in UK

Chartres acquires in LA. San Francisco-based Chartres Lodging Group acquired the Lüm Hotel from Los Angeles-based Shomof Group for $57 million. The 179-key hotel is adjacent to the Intuit Dome in Inglewood, California, and is the new arena for the NBA’s Los Angeles Clippers. Chartres is planning to reposition the asset, which the previous owner renovated.

MG Developer acquires in Miami. Coral Gables, Florida-based MG Developer has acquired the 176-key Regency Miami Airport by Sonesta hotel for $36 million. Miami Lakes, Florida-based OPB Capital Group Fund 1 LLC sold the hotel MG Regency Airport LLC, an affiliate of MG Developer. The hotel last sold in 2019 for $25.83 million.

Pandox acquires in Edinburgh. Stockholm-based Pandox AB has acquired the 138-key DoubleTree by Hilton Edinburgh City Centre in the U.K. from an affiliate of Starwood Capital for £49 million ($64.4 million). Axiom Hospitality will manage the hotel. The transaction is expected to be financed by available cash funds and a new bank loan and is scheduled to be completed later this year. Last month, Pandox acquired three extended-stay Marriott hotels in central London for £230 million ($302.6 million).

B&B Hotels adds third US hotel. Brittany, France-based B&B Hotels is opening its third hotel in the U.S. with the 110-key B&B Hotel Miami. The hotel is located near Miami Airport and joins the 218-key B&B Hotel Orlando (which opened earlier this year) and the 156-key B&B Hotel Jacksonville (which is scheduled to open in the first quarter of 2025) as part of the company’s U.S. expansion plans. B&B has a portfolio of more than 800 hotels in 17 countries.

Blackstone closes resort acquisition. Blackstone has acquired the 286-key Hyatt Regency Clearwater Beach Resort & Spa from Houston-based Westmont Hospitality Group for $137 million in a deal first reported last month. The prices of furniture, fixtures and equipment aren’t usually included in the property sale record, and the total sales price is likely higher than what’s publicly available, according to the Tampa Bay Business Journal. Bloomberg reported in August that the sale could total $200 million.

HE, 34^th Floor partner on F&B. Atlanta-based Hotel Equities (HE), and Las Vegas-based food and beverage company 34th Floor Hospitality are partnering to develop F&B concepts together across HE’s portfolio. The initial phase of this collaboration will integrate 34th Floor Hospitality's F&B strategies into select HE properties in North America and its expanding footprint in the CALA region.

Crescent adds a historic New Orleans hotel. Fairfax, Virginia-based Crescent Hotels & Resorts has added the historic NOPSI Hotel in New Orleans to its Latitudes: Lifestyles by Crescent collection. The 217-key hotel was converted from the former headquarters of New Orleans Public Service Inc., is listed on the National Registry of Historic Places and is a member of Historic Hotels of America.

Remington adds in PR. Dallas-based Remington Hospitality has added the boutique Hotel Miramar in San Juan, Puerto Rico, to its management portfolio. This addition is Remington’s first in Puerto Rico and expands its presence in CALA. Remington is planning to renovate the hotel.

Riu reopens in Punta Cana. Palma de Mallorca, Spain-based Riu Hotels & Resorts is reopening the 994-key Riu Palace Bavaro in Punta Cana, Dominican Republic, after an extensive renovation. Following the demolition of the Riu Naiboa on an adjoining plot, the Riu Palace Bavaro has expanded over the former site to include new spaces for its facilities. Riu has five hotels and 4,528 rooms in Punta Cana.