Completion of sale of $6.2 billion Venetian resort


This roundup features the latest hotel deals in the US hospitality industry.


Rooms: 4,028
Location: Las Vegas
Price including debt: $6.25 billion
Price per room: $1.5 million
Buyer: Affiliates of Apollo Global Management and Vici Properties
Seller: Las Vegas Sands Corp.
Transaction date: February 23, 2022
Takeaway: The sale was announced almost a year ago and finalized on Wednesday.


Rooms: 115
Location: Alpharetta, Georgia
Price including debt: $13.4 million
Price per room: $86,725
Buyer: An entity backed by JMREI and Lionshead Capital Partners
Seller: Alex. Brown Realty and Hotel Development Partners
Transaction date: February 22, 2022
Takeaway: Hodges Ward Elliott’s Atlanta team brokered the trade.


Rooms: 671
Location: Everett, Massachusetts
Price including debt: $1.7 billion
Price per room: $2.53 million
Buyer: Real Estate Income
Seller: Wynn Resorts
Transaction date: February 16, 2022
Takeout: Wynn Resorts will continue to operate the property.


Rooms: 123
Location: Rochester, New York
Price including debt: $17.3 million
Price per room: $140,650
Buyer: DelMonte Hotel Group
Seller: N/A
Transaction date: February 15, 2022
Takeaway: The hotel was originally built in 2008 and renovated in 2019.


Rooms: 326
Location: Scottsdale, Arizona
Price including debt: $113 million
Price per room: $406,475
Buyer: Driftwood Capital
Seller: Junson Capital entity based in Hong Kong
Transaction date: February 10, 2022
Takeaway: Driftwood Capital plans to complete a multi-million dollar renovation that will convert the hotel into a Curio by Hilton collection.


Rooms: 201
Location: Nashville
Price including debt: $75 million
Price per room: $373,134
Buyer: OTO Development
Seller: Songy Highroads
Transaction date: February 4, 2022
Takeaway: Songy Highroads stabilized ownership during the pandemic and made the decision to sell the asset now as demand surges in the Nashville metro area.


Rooms: 319
Location: Austin, TX
Price including debt: $246 million
Price per room: $771,160
Buyer: Host Hotels & Resorts
Seller:
Transaction date: February 2, 2022


Rooms: 1,220
Location: Boston
Price including debt: $233 million
Price per room: $190,983
Buyer: Värde Partners and Hawkins Capital
Seller: Host Hotels & Resorts
Transaction date: February 2, 2022
Takeaway: Host is providing a $163 million bridge loan to the buyer as part of this assignment.


Rooms: 114
Location: Atlanta
Price including debt: $22 million
Price per room: $192,325
Buyer: Banyan Investment Group
Seller: N/A
Transaction date: January 24, 2022
Takeaway: This is Banyan’s first hotel purchased through its new Banyan Lodging Enhanced Value fund.

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