Embassy Suites Chicago Downtown sold for $65 million

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


Rooms: 368
Location: Chicago
Price including debt: $65.4 million
Price per room: $177,641
Buyer: Magna Hospitality
Seller: Sunstone Hotel Investors
Transaction date: March 16, 2022
Takeaway: This was part of a two-hotel portfolio sale.


Rooms: 361
Location: Chicago
Price including debt: $64 million
Price per room: $177,641
Buyer: Magna Hospitality
Seller: Sunstone Hotel Investors
Trade date: March 16

Takeaway: This was part of a two-hotel portfolio sale.


Rooms: 202
Location: Baltimore, Maryland
Price including debt: $18.4 million
Price per room: $91,584
Buyer: Douglas Development
Seller: A subsidiary of Stonehill Strategic Capital
Trade date: March 9, 2022

Takeaway: Douglas Development is planning a $6.5 million renovation. Kimpton will continue to operate the brand flag and TPG Hotels and Resorts will be the new management company.


Rooms: 111
Location: Miramar Beach, Florida
Price including debt: $31 million
Price per room: $279,279
Buyer: Chatham Lodging Trust
Seller: Miramar Beach Lodging LLC
Transaction date: March 8, 2022

Takeaway: The hotel will be managed by Island Hospitality.


Rooms: 64
Location: Las Vegas, Nevada
Price including debt: $11.9 million
Price per room: $185,937
Buyer: Pro Hospitality Group
Seller: The Siegel Group
Transaction date:
Takeaway: The Siegel Group first acquired the hotel in 2009, then renovated, renamed and repositioned it.


Rooms: 105
Location: Orlando
Price including debt: $6.5 million
Price per room: $61,905
Buyer: Sandpiper Hospitality
Vendor: Hotel Management Services
Transaction date: February 28, 2022
Takeaway: This was part of a two-hotel portfolio sale.


Rooms: 121
Location: Orlando; Clermont
Price including debt: $8.5 million
Price per room: $70,248
Buyer: Sandpiper Lodging Trust
Vendor: Hotel Management Services
Transaction date: February 28, 2022
Takeaway: This was part of a two-hotel portfolio sale.

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