Carlton Hospitality Group secures 10 hotel deals

30 November 2006 by
Carlton Hospitality Group secures 10 hotel deals

Carlton Hospitality Group (CHG) has announced it has exclusively secured finance for 10 hotel developments worth more than $1.7b (£869m).

The properties involved are:

  • $315m (£161m) for Trump SoHo- A 42-storey, 413 bedroom, five-star hotel in New York;
  • $140m (£71.6m) for Tierra Del Sol - Purchase of Tierra del Sol Resort and Country Club in Aruba;
  • $46m (£23.5m) for two select service hotels in Orland and Florida;
  • £125m (£64m) for a portfolio of five all-suite US hotels;
  • $62m (£31.7m) for a portfolio of select service hotels in the Northeast of the US;
  • $59m (£30.2m) for a portfolio of four all-suite hotels in Texas;
  • $510m (£261m) for the Playa Pelicano in Costa Rica - including two five-star hotels, spas, golf course, 270 residential lots and more than 600 villas;
  • $210m (£107m) for the 14 storey, 1572 room Hilton Anaheim in California;
  • $205m (£105m) for Long Bay Resorts - the development of a five-star luxury resort in Anguilla

Hospitality Group president John Bralower said: "The outlook for the hotel sector remains strong, in terms of demand for existing assets and development of new brands, with capital continuing to flow into the market."

CHG is a division of real estate investment bank The Carlton Group. CHG, which specialises in arranging equity and debt financing for hotels and mixed-use real estate projects with a hospitality component, did more than $1b (£511,000) in deals last year and $500m (£256,000) in transactions in the first half of 2006.

CHG website >>

By Emily Manson

E-mail your comments to Emily Manson]( Hospitality Group secures 10 hotel deals) here.

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