Latest news: TPI sells 3; Boston hotel sells for $45M; Four Seasons adds in Switzerland

TPI Hospitality sells 3 in Minnesota. Affiliates of Willmar, Minnesota-based TPI Hospitality have sold three hotels in Rochester, Minnesota, near the Mayo Clinic. TPI sold the dual-branded 225-key Homewood Suites by Hilton and Courtyard by Marriott in Rochester to Park City, Utah-based Terratron for $29.5 million. TPI also sold the 86-key SpringHill Suites to two Minneapolis-based companies, Second Street Hotel Group and Empire Hotels, for $7.8 million. Avison Young arranged the sale of all three properties.

Boston hotel sells for $45M. Wilmington, North Carolina-based Arch & Devonshire acquired the 178-key Club Quarters Hotel in Boston from an undisclosed seller for $45 million. Newton, Massachusetts-based Tremont Realty Capital, a division of Boston-based investment firm RMR Group, provided a $45 million bridge loan for the acquisition. JLL arranged the loan, which carries a floating interest rate and a three-year initial term with two one-year extension options.

Four Seasons adds in Switzerland. Four Seasons Hotels and Resorts will operate The Park Gstaad Hotel in Switzerland once the property reopens following renovations, which are already underway. The 75-key hotel first opened in 1910 and is owned by philanthropist, investor and sportswoman Dona Bertarelli. The property is anticipated to reopen as The Park Gstaad, A Four Seasons Hotel, in time for the 2026-2027 winter season.

New marketing campaign for Choice. Choice Hotels International has unveiled a new global marketing campaign called “Check Into More,” developed around the insight that 95% of U.S. travelers want to spend part of their trips on new and unique experiences. The campaign, developed in collaboration with actor and writer Keegan-Michael Key, creative agency 72andSunny New York and Choice Hotels, features six 30- and 15-second spots that will run across TV and digital channels through the end of 2025.

Island adds in San Jose. West Palm Beach, Florida-based Island Hospitality Management will manage the under-construction TownePlace Suites by Marriott in San Jose, California. The hotel is scheduled to open in the first half of 2025.

Dimension adds in Georgia. Fort Lauderdale, Florida-based Dimension Hospitality has added the 100-key Hampton Inn and Suites – Snellville, Georgia, to its portfolio of managed hotels. Dimension has 40 Hilton-branded properties in its portfolio.

IHG adds in KSA. IHG Hotels & Resorts is partnering with Jeddah, Saudi Arabia-based Al Harithy Group to sign The Venue, Vignette Collection Jeddah Corniche in Saudi Arabia. The 193-key property is slated to be rebranded by late 2025. The property opened in 1997 and will undergo renovations as part of the rebrand.

Fairmont in Dubai sells for $325M. Kuwait and Duisburg, Germany-based IFA Hotels and Resorts selling the Fairmont The Palm property for $325 million after entering into a sale and purchase agreement with a unit of Kuwait investment firm Arzan Financial Group (AFG), according to Zawya. Arzan Investment Management’s (AIM) acquisition of the 391-key property will serve as a catalyst for the establishment of its new GCC Hospitality Fund platform.