Latest news: Will NYC’s Pierre sell?; refis in NYC, Hawaii; Autograph debuts in South Asia

Possible sale of NYC’s Pierre Hotel. The Sultan of Brunei is reportedly in talks to buy the 189-room Pierre Hotel in New York City, according to the New York Post. Hassanal Bolkiah, who is both sultan and prime minister of the tiny kingdom in Southeast Asia, is partnering with Essam Khashoggi, brother of the late Saudi arms dealer Adnan Khashoggi and uncle of late Washington Post journalist Jamal Khashoggi, who was murdered inside the Saudi consulate in Turkey in 2018. The sale could be for the whole property, which is valued at around $2 billion, according to the story. The Newmark Group is advising on the sale.

Mack portfolio refi in NYC. New York City-based Mack Real Estate Group has refinanced a seven-hotel, 1,087-key select-service portfolio in Manhattan with a $235 million CMBS loan, according to a note from analyst Michael Bellisario of R.W. Baird. According to the note, Mack took ownership of the portfolio in February 2021 after the previous owners (Beijing-based Cindat Capital Management and Harrisburg, Pennsylvania-based Hersha Hospitality Trust) defaulted on the mezzanine loan. Mack is contributing $45 million of new equity to repay $270 million of existing debt and to fund a $5 million capex reserve and closing costs. The loan has a two-year term with three one-year extension options. The portfolio includes one Candlewood Suites, three Hampton Inns, two Holiday Inn Expresses, and one Holiday Inn, which opened between 2003 and 2009.

Atrium refi in Waikiki. Phoenix-based Atrium Holding has refinanced the 1,307-key Waikiki Beach Marriott with a $340 million CMBS loan, according to another note from Bellisario. As part of the transaction, Atrium contributed nearly $15 million of new equity to repay $336.5 million of existing debt (a 2019 CMBS loan) and to fund $13.4 million for capex reserves and closing costs. The loan has a two-year term with three one-year extension options. 

INNIN converts in Nashville. San Diego-based INNIN, which acquired the 126-key Hyatt Place Nashville/Franklin/Cool Springs in Tennessee from an institutional seller on June 4 for an undisclosed amount, is planning to convert the hotel to the new Hyatt Select brand, according to a note from Bellisario.

HEI adds in Nashville. Norwalk, Connecticut-based HEI Hotels & Resorts has added the Waymore’s Guest House and Social Club in Nashville to its portfolio. Waymore’s has 93 rooms, 4,000 sq. ft of meeting space and two F&B outlets. HEI has more than 100 upper-upscale independent boutique hotels and resorts throughout the U.S.

Autograph debuting in South Asia. Marriott International’s Autograph Collection Hotels brand is making its debut in South Asia with the opening of 285-key The Soaltee Kathmandu, Autograph Collection in Nepal. This will be Marriotts 19th brand in South Asia (India, Bhutan, Nepal, Bangladesh and Sri Lanka).

Citadines adds in UK. The Ascott Ltd. is introducing the Citadines brand outside London with its first property in Liverpool. The Quest Liverpool City Centre will be rebranded as the 100-key Citadines City Centre Liverpool, following Quest Apartments’ move to focus on its core oceanic market. Once a 1980s commercial building, the property will become the sixth Citadines in the U.K. and the first outside of London, bringing The Citadines portfolio to 40 properties in Europe overall.

Frasers adds Yotel in Toyko. Singapore-based Frasers Hospitality has opened the Yotel Tokyo Ginza, the brand’s debut in the city. It is Frasers’ first ground-up development and investment in Japan. This is the 23rd Yotel location worldwide.

Valor luxury golf collaboration. Atlanta-based Valor Hospitality Partners, through three of its properties in premier golf destinations, McLemore Resort (in Rising Fawn, Georgia), Seaton House (in St. Andrews, Scotland) and Dunluce Lodge (in Portrush, Northern Ireland), has formed a relationship that includes its F&B division, Savor, which allows for cross-continental collaboration of the three golf properties.