previously
\nannounced sale<\/a> of the Embassy Suites by Hilton Austin Arboretum in Austin, Texas, for $13.5 million. The sale was \u00a0between New Houston Hotel LP and Ashford Austin LP, as sellers and Galleria Lodging, LP and Arboretum Lodging, as purchasers. Hunter
\n Hotel Advisors brokered the sale of the Austin property, as well as another previously announced Ashford Trust sale of the Embassy Suites by Hilton Houston Near the Galleria in Houston.<\/p>\nMore details on PMG tower. Miami-based Property Markets Group (PMG) is partnering with Ennismore\u2019s Delano hotel brand for its second condo tower in downtown Miami. The 985-foot tower (which would be the city\u2019s tallest building) would include The Delano
\n Residences, break ground next year, and feature amenities such as an observation deck, a swimming pool, and a \u201csky restaurant.\u201d Units are expected to start at $800,000 and a penthouse will go to market at $50 million. The developer is also building
\n a 1,049-foot-tall Waldorf Astoria-branded condo tower in Miami, with 90% of the units reportedly sold.<\/p>\n
Marriott
\nadding in Sydney. Marriott International will debut a new brand in Sydney in 2027, with the 104-key AC Hotel Sydney Hyde Metropolitan in the city\u2019s CBD. The project is part of a 55-story mixed-use development comprising the hotel, luxury residential
\n apartments and retail. The project is expected to open in late 2027.\n<\/p>\n
Rotana
\nadds in Egypt. Egypt-based Astra Rise Developments has signed a management and operation agreement with UAE-based Rotana Hotels for a 4 billion Egyptian pound ($80 million) hotel project in Egypt\u2019s New Administrative Capital. The development will
\n introduce the Rayhaan by Rotana brand to Egypt and will include retail and F&B components. Astra Rise said the project will adopt a managed leaseback model, under which investors can purchase individual hotel units and lease them back to the operator.<\/p>\n","protected":false},"excerpt":{"rendered":"Breaking news about deals, development, data and more. Ashford Trust sale in Austin. Dallas-based REIT Ashford Hospitality Trust…\n","protected":false},"author":2,"featured_media":176697,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[6890,6905,132,134,133,6893,32003,6889,6902,6906,110,918,6891,6903,6895,6896,6901,6886,2277,242,3514,3869,1196,6892,6900,463,6894,6887,11314,6904,6899,6897,6898,6888],"class_list":{"0":"post-176696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-austin","8":"tag-asia-pacific","9":"tag-asset-management","10":"tag-austin","11":"tag-austin-headlines","12":"tag-austin-news","13":"tag-brands","14":"tag-c-corps","15":"tag-caribbean","16":"tag-condo-hotels","17":"tag-deals","18":"tag-development","19":"tag-economy","20":"tag-emea","21":"tag-extended-stay","22":"tag-franchising","23":"tag-global","24":"tag-independents","25":"tag-insights","26":"tag-latin-america","27":"tag-lifestyle","28":"tag-luxury","29":"tag-management","30":"tag-mergers-and-acquisitions","31":"tag-mergers-and-acquistions","32":"tag-midscale","33":"tag-north-america","34":"tag-owners","35":"tag-regions","36":"tag-reits","37":"tag-timeshare","38":"tag-upper-midscale","39":"tag-upper-upscale","40":"tag-upscale","41":"tag-whats-hot-trending"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/176696","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=176696"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/176696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/176697"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=176696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=176696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=176696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}