Latest news: Ritz-Carlton Residences to Houston; conversion in Nashville; Samhi acquires Rare India

Ritz-Carlton Residences to Houston. Houston-based developer Deiso Moss is launching public sales for The Ritz-Carlton Residences, Houston, a property set to mark the city's first co-located hotel and residences for the brand. Cleary Interests is a consultant/investor in the project. Located in the Uptown-Galleria district, the 45-story tower will feature a 156-key The Ritz-Carlton Hotel and 112 branded residences. The project is scheduled to be completed in fall of 2029.

DHM converts in Nashville. North Palm Beach, Florida-based Driftwood Hospitality Management (DHM) has completed the multimillion-dollar conversion of the 200-key Delta Hotels Nashville Airport under the Delta Hotels by Marriott brand. Owned by Cookeville, Tennessee-based Imaging Hospitality Management, the property was formerly known as Hotel Preston and underwent extensive renovations. DHM has a portfolio of more than 80 hotels totaling 15,000 rooms across North America, Latin America and the Caribbean.

Samhi acquires RARE India. Gurugram, India-based Samhi Hotels Ltd. has approved the acquisition of a 70% stake in New Delhi, India-based Rare India for ₹47 Crore. Samhi and Rare have also entered into an agreement for an affiliation with Marriott International, under which Rare would have exclusive rights to operate its portfolio of hotels under the Outdoor Collection brand by Marriott Bonvoy across India, Nepal, Bhutan, and Sri Lanka. Rare will continue to operate independently, and this partnership allows Samhi to expand its portfolio to about 100 hotels. Rare has a portfolio of 67 hotels and 990 rooms in India, Nepal and Bhutan.

Buyer named for Ashford Trust sale. Dallas-based REIT Ashford Hospitality Trust sold the 333-key Hilton St. Petersburg Bayfront to Delray Beach, Florida-based The Kolter Group for $96 million in a previously reported sale that the company announced during its fourth quarter earnings call in late February. Michael Bellisario, an analyst for R.W. Baird, named the buyer in an email on Friday and said in 2019, Ashford Trust sold the hotel's adjacent parking lot to The Kolter Group, which has since developed it into a condominium tower and parking garage, to which the REIT has had ownership rights to 205 covered parking spaces for use by hotel guests.

Sale in Fort Lauderdale. Hotels of FLL LLC, an affiliate of Indianapolis-based MHG Hotels, has acquired the 138-key Aloft Fort Lauderdale Airport from Green Park Management for $33.25 million. The 12-story hotel was built in 2023. Cherko Fusco Realty represented the buyer in the transaction.

Pair of Maine hotels trade. An affiliate of Fleming Island, Florida-based AON Hospitality has acquired the 130-key Holiday Inn Express Portland, Maine – Sable Oaks from Beddy Bye LLC for an undisclosed amount. In another deal, Sable Oaks Hotel LLC, an affiliate of Portsmouth, New Hampshire-based Colwen Hotels, has acquired the 226-key Portland Sheraton at Sable Oaks in Maine from Lullaby LLC, an affiliate of Schott Management, for an undisclosed amount. Cherko Fusco Realty facilitated both transactions.

Raines adds in Mississippi. Florence, South Carolina-based Raines has added the 110-key Courtyard by Marriott Columbus in Columbus, Mississippi, to its management portfolio. The property is owned by Springdale, Arkansas-based Krish Hotel LLC, which purchased the asset in December.

Meliá debuts in Hungary. Meliá Hotels International is converting the 152-key Hotel President Budapest into its Affiliated by Meliá network on March 23, marking the company's debut in Hungary. The hotel is part of the Hamburg, Germany-based 1912 Hotels, which oversees a diverse portfolio of properties across key European destinations.