DiamondRock Hospitality Closes on Premium Hotels

July 17, 2012 by


DiamondRock

DiamondRock Hospitality Company ( DRH) announced yesterday their completed acquisition of four hotels from affiliates of Blackstone Real Estate Partners VI. The reported purchase price was $495 million, which paid for Hilton Boston Downtown, the Westin Washington D.C. City Center, the Hilton Burlington, and the Westin San Diego. According to the news, Goldman, Sachs & Co. and BofA Merrill Lynch advised on the deal.

Has the Luxury Hotel Industry Really Recovered?

May 10, 2011 by


Luxury hotels are leading the way, bouncing back faster than the rest of the US hotel industry as the economy recovers. But, at least according to hoteliers at a Los Angeles hotel industry conference, that rebound is not such the positive news they had hoped for.

Oakland A’s Owner Wolff Considers Selling His Hotels

April 6, 2011 by


Deco Suite at The Carlyle in Manhattan

Oakland Athletics co-owner Lew Wolff says the time may soon be right for his real estate firm, Maritz, Wolff & Co., to part ways with approximately $500 million worth of hotel property, and return that cash to investors. In the 1990s, according to Bloomberg, Wolff started acquiring luxury hotels at a time when onlookers considered [...]