Breaking news about deals, development, data and more.

Loews grows in Arlington. Lowes Hotels & Co. has announced
plans for 507-room Americana by Loews Hotels – Arlington, Texas, its
third hotel in city’s Entertainment District. Set to replace the existing
Sheraton Arlington Hotel, which will be demolished in June, the new Loews hotel
will be the brand’s 28th property. The property will offer more than 83,000
square feet of meeting and event space, including a 10,000-square foot, Event
Barn, for large-scale gatherings. With the opening of the third hotel, the
Loews Hotels & Co campus in Arlington will have a total of 1,695 guest
rooms and more than 374,000 square feet of indoor and outdoor meeting space.

Selig refis in Atlanta. JLL Capital Markets has arranged the
refinancing for Selig Enterprises’ Epicurean Atlanta, a 178-key boutique
Marriott Autograph Collection hotel located in Midtown Atlanta’s arts and
entertainment district, with Great Southern Bank providing the loan. The
16-story property serves as the hospitality anchor for Selig’s West Peachtree
mixed-use development and features multiple dining outlets, meeting spaces, and
amenities including a rooftop pool and outdoor terrace.

AAHOA founder dies. AAHOA announced the passing of Ravi
Patel, who served as AAHOA chairman from 1992-93. Patel was a founding member
of the association and the chairman of Charlotte-based SREE Hotels. “The AAHOA
family is deeply saddened by the loss of a true visionary and a foundational
pillar of our association,” said AAHOA Chairman Kamalesh (KP) Patel. “Ravi was
not just a leader; he was an architect of this organization. During his tenure
as Chairman, he took a formative idea and gave it a home—literally and
figuratively—by drafting our bylaws and establishing our first headquarters.
His transition from chemical engineering to hospitality is a testament to the
American Dream, and his legacy lives on in the 30-plus hotels he built and the
thousands of hoteliers he inspired.” Patel’s journey in the hospitality
industry began in 1980 with the acquisition of a roadside motel in Florence, South
Carolina. Drawing on his engineering background, he renovated and repositioned
the property as an EconoLodge, turning it into a success that became the
cornerstone of SREE Hotels, which he co-founded with Chandra Patel.

Crestline adds in SF. Crestline Hotels & Resorts has
been selected to manage the 236-room Hotel Spero Vignette Collection
an IHG Hotel at Union Square in San Francisco. The hotel’s signature
restaurant will undergo a transformation and
repositioning in the coming months. The deal marks Crestline’s ninth hotel
in California. Crestline currently manages 115 hotels, resorts, and
conference centers with nearly 16,500 rooms in 23 states and the
District of Columbia.

Peachtree adds SBA lender. Peachtree Group has completed the
acquisition of First Western SBLC, LLC (formerly known as First Western SBLC,
Inc.), which operates as PMC Commercial Trust, a Dallas-based nationwide direct
lender specializing in SBA 7(a) loans. PMC will continue operating under its
existing name following the transaction, which received approval from the U.S.
Small Business Administration and closed effective immediately. With the
acquisition complete, Peachtree will offer SBA 7(a) loans ranging from $50,000
to $5,000,000 to support business acquisitions, real estate purchases,
equipment financing, working capital and refinancing. Joining Peachtree is
Barry Berlin, who will oversee the integration of PMC’s lending business and
serve as senior advisor for government-regulated lending. Laurie Ivy, who has
served as president of PMC since 2020, will oversee day-to-day SBA operations.