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Pebblebrook extends 2024 term debt to 2028

Hotel Business

Pebblebrook Hotel Trust has extended approximately $357 million of its $460 million October 2024 maturity term loan to 2028. Pricing on all the company’s term loans remained unchanged and is based on a pricing grid of 140 to 245 basis points over the applicable adjusted term SOFR. “We The company paid down approximately $157.6

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Leonardo Hotel Newcastle brought to market for £31.8m

Hotel Owner

The Leonardo Hotel at St James Gate in Newcastle has been brought to market on behalf of a UK investment fund, with offers of over £31.8m this year, rising to 9.86% in 2028, and 11.05% in 2033. The investment is priced attractively and at the quoted price it is also substantially underpinned by its vacant possession value.”

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Sanctum Apartments comes to market at £30 million

Serviced Apartments

Reading Time: < 1 minute UK: The luxury Sanctum Apartments, located in North-West London, is being marketed at a guide price of £30 million by real estate agency Savills. By 2028, London is also expected to overtake Paris as the largest serviced apartment market in Europe, with a projected 21 per cent increase in supply.

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CDLHT expands UK footprint with Hotel Indigo Exeter acquisition

Hotel Owner

The existing leases of the two retail units will continue until 2033 on a fixed rent basis with tenant break options in June 2028 and March 2029 respectively. The estimated total cost of the acquisition is approximately £21.5m, which comprises the purchase price of £19.4m based on its market value as of September 30, 2024.

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Accor reaches 1,000 Mercure hotels milestone

Hotel Owner

With the largest development pipeline in Accor’s portfolio, Mercure has more than 200 additional hotels set to open by 2028. The 282-bedroom hotel also features Barnaby’s restaurant and bar. Jacques Morin, group deputy CEO and Premium, Midscale and Economy Division CEO, Accor said: “This has been a transformative year for Mercure.

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Dalata to open sixth London hotel with new Clayton site

Hotel Owner

The site is set to open in the second half of 2028 subject to planning approval, and will feature 154 bedrooms, a restaurant, bar and gym. Dalata said the signing of the lease agreement in a prime London location “further demonstrates its ability to increase its footprint in a global business and tourism hub with strong market fundamentals”.

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RLJ Lodging Trust acquires Denver’s Hotel Teatro for $35.5M

Hotel Business

RLJ Lodging Trust has acquired the fee-simple interest in the 110-room Hotel Teatro in Denver for a purchase price of $35.5 We are pleased to expand our footprint in Denver by acquiring this unique boutique lifestyle hotel located in a prime location within Denver, in an off-market deal,” said Leslie D.

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