Breaking news about deals, development, data and more.<\/p>\n
Loews grows in Arlington. Lowes Hotels & Co. has announced
\nplans for\u00a0507-room Americana by Loews Hotels \u2013 Arlington, Texas,\u00a0its
\nthird hotel in city\u2019s Entertainment District. Set to replace the existing
\nSheraton Arlington Hotel, which will be demolished in June, the new Loews hotel
\nwill be the brand\u2019s 28th property. The property will offer more than 83,000
\nsquare feet of meeting and event space, including a 10,000-square foot, Event
\nBarn, for large-scale gatherings. With the opening of the third hotel, the
\nLoews Hotels & Co campus in Arlington will have a total of 1,695 guest
\nrooms and more than 374,000 square feet of indoor and outdoor meeting space.<\/p>\n
Selig refis in Atlanta. JLL Capital Markets has arranged the
\nrefinancing for Selig Enterprises\u2019 Epicurean Atlanta, a 178-key boutique
\nMarriott Autograph Collection hotel located in Midtown Atlanta’s arts and
\nentertainment district, with Great Southern Bank providing the loan.\u00a0The
\n16-story property serves as the hospitality anchor for Selig\u2019s West Peachtree
\nmixed-use development and features multiple dining outlets, meeting spaces, and
\namenities including a rooftop pool and outdoor terrace.<\/p>\n
AAHOA founder dies. AAHOA announced the passing of Ravi
\nPatel, who served as AAHOA chairman from 1992-93. Patel was a founding member
\nof the association and the chairman of Charlotte-based SREE Hotels. \u201cThe AAHOA
\nfamily is deeply saddened by the loss of a true visionary and a foundational
\npillar of our association,\u201d said AAHOA Chairman Kamalesh (KP) Patel. \u201cRavi was
\nnot just a leader; he was an architect of this organization. During his tenure
\nas Chairman, he took a formative idea and gave it a home\u2014literally and
\nfiguratively\u2014by drafting our bylaws and establishing our first headquarters.
\nHis transition from chemical engineering to hospitality is a testament to the
\nAmerican Dream, and his legacy lives on in the 30-plus hotels he built and the
\nthousands of hoteliers he inspired.\u201d Patel\u2019s journey in the hospitality
\nindustry began in 1980 with the acquisition of a roadside motel in Florence, South
\nCarolina. Drawing on his engineering background, he renovated and repositioned
\nthe property as an EconoLodge, turning it into a success that became the
\ncornerstone of SREE Hotels, which he co-founded with Chandra Patel.<\/p>\n
Crestline adds in SF. Crestline Hotels & Resorts has
\nbeen\u00a0selected to\u00a0manage the 236-room Hotel Spero Vignette Collection
\nan IHG Hotel at Union Square in San Francisco.\u00a0The hotel\u2019s signature
\nrestaurant\u00a0will\u00a0undergo\u00a0a transformation\u00a0and
\nrepositioning\u00a0in the coming months. The deal marks Crestline\u2019s ninth hotel
\nin California. Crestline currently manages\u00a0115\u00a0hotels, resorts, and
\nconference centers with\u00a0nearly 16,500\u00a0rooms in 23 states\u00a0and the
\nDistrict of\u00a0Columbia.<\/p>\n
Peachtree adds SBA lender. Peachtree Group has completed the
\nacquisition of First Western SBLC, LLC (formerly known as First Western SBLC,
\nInc.), which operates as PMC Commercial Trust, a Dallas-based nationwide direct
\nlender specializing in SBA 7(a) loans. PMC will continue operating under its
\nexisting name following the transaction, which received approval from the U.S.
\nSmall Business Administration and closed effective immediately. With the
\nacquisition complete, Peachtree will offer SBA 7(a) loans ranging from $50,000
\nto $5,000,000 to support business acquisitions, real estate purchases,
\nequipment financing, working capital and refinancing. Joining Peachtree is
\nBarry Berlin, who will oversee the integration of PMC\u2019s lending business and
\nserve as senior advisor for government-regulated lending. Laurie Ivy, who has
\nserved as president of PMC since 2020, will oversee day-to-day SBA operations.<\/p>\n","protected":false},"excerpt":{"rendered":"Breaking news about deals, development, data and more. Loews grows in Arlington. Lowes Hotels & Co. has announced…\n","protected":false},"author":2,"featured_media":133677,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[150,152,151,6890,6905,6893,32003,6889,6902,57134,32004,918,6891,6903,3414,6895,6896,6901,6886,2277,242,3514,3869,6892,6900,463,6894,6887,6899,6897,6898,6888],"class_list":["post-133676","post","type-post","status-publish","format-standard","has-post-thumbnail","category-arlington","tag-arlington","tag-arlington-headlines","tag-arlington-news","tag-asia-pacific","tag-asset-management","tag-brands","tag-c-corps","tag-caribbean","tag-condo-hotels","tag-data-and-lists","tag-debt-and-equity","tag-economy","tag-emea","tag-extended-stay","tag-financing","tag-franchising","tag-global","tag-independents","tag-insights","tag-latin-america","tag-lifestyle","tag-luxury","tag-management","tag-mergers-and-acquistions","tag-midscale","tag-north-america","tag-owners","tag-regions","tag-upper-midscale","tag-upper-upscale","tag-upscale","tag-whats-hot-trending"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/133676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=133676"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/133676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/133677"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=133676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=133676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=133676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}