Manhattan hotel trades in biggest distressed lodging deal of pandemic
Manhattan’s biggest distressed hotel deal of the pandemic just closed for $175 million. Isaac Hera’s Yellowstone Real Estate Investments...
Hotel Market
The Latest
Marriott, Lightstone Group bet on hotel recovery
Marriott and Lightstone Group are betting on an uptick in post-pandemic travel — particularly for those on a budget....
National
Travel roars back — and summer rentals book up
Whether it’s to reunite with grandparents or an escape from work-from-home, Americans have set their sights on summer travel...
10 biggest new project filings in NYC
Multifamily developments made up the bulk of the largest new building filings last month, although the biggest application submitted to the Department of Buildings was for an educational facility in Inwood. The 10 largest...
Sonder to open in Flatiron Hotel next month
Sonder, the well-heeled startup that rents furnished rooms by the night, plans to reopen the Flatiron Hotel in April. The hotel, at 9 West 26th Street, will be its first in New York City...
National
Blackstone, Starwood strike $6B deal for Extended Stay America
A long-in-the-works deal for an extended-stay hotel chain is finally coming to fruition. Blackstone Group and Starwood Capital Group...
Ruling clears path for Times Square Edition hotel foreclosure
Maefield Development’s Times Square Edition is one step closer to foreclosure. A judge granted the hotel’s lenders, led by...
Mack Real Estate takes over 7 distressed Manhattan hotels
Mack Real Estate has gained control of a seven-hotel portfolio for what appears to be a major discount. The...
National
Electra America, AKA launch $500M hotel fund
A multifamily investment firm and a luxury hotel residences company have partnered to launch a $500 million hotel investment...
National Issue
Underwater hotel owners are walking away from their properties
With its hotels business battered by the pandemic, Ashford Hospitality Trust took a cold, hard look at its portfolio...