CLEARWATER BEACH, FLA. — Moss has completed Opal Sol, a 680,000-square-foot luxury resort and spa located in Clearwater Beach. Designed by Nichols Architects, Opal Sol offers 248 suites with private balconies, three elevated decks, a spa with a full-service salt room and fitness center, four ballrooms, future retail storefronts along the Beach Walk and four restaurants, including Drift, Lolita’s, Beach Market and Toast. Additionally, an elevated pedestrian bridge now connects Opal Sol to its sister property, Opal Sands. The hotels within the Opal Collection offer a combined 125,000 square feet of indoor meeting space, plus 55,000 square feet of outdoor space with roughly 800 rooms and parking for over 1,000 vehicles in the Clearwater Beach market.
DALLAS — Phoenix Development Group has begun construction on a 264-room, dual-branded hotel in Uptown Dallas. The building will rise 19 stories at 2910 N. Hall St. and will offer 110 rooms under the AC Hotel by Marriott brand and 154 rooms under the Moxy Hotel brand. Each hotel will have its own lobby and entrance but will share amenities such as a fitness center and a 261-stall parking garage. The signature Moxy Bar & Restaurant will be situated at street level, and a custom-branded bar and lounge will be located on the eighth floor of the building and will include an outdoor terrace deck and water features. Phoenix is developing the property in partnership with Atlanta-based hospitality operator Peachtree Group, which is also an equity investor in the project. Merriman Anderson Architects is designing the project, with interiors by The Society, and Moss Construction is serving as the general contractor. Completion is slated for summer 2026.
STATELINE, NEV. — Caesar’s Entertainment (NASDAQ: CZR), a gaming and casino giant based in Reno, has begun the $160 million transformation of Harveys Lake Tahoe, a 1.6 million-square-foot hotel and casino located in Stateline. The redevelopment project will feature upgrades, accommodations, elevated dining and gaming options and a new contemporary design. Beginning July 1, the resort will operate as Caesars Republic Lake Tahoe Hotel & Casino. “This transformation honors the storied history of Harveys while introducing modern amenities and elevated experiences that will redefine luxury in Lake Tahoe,” says Karie Hall, senior vice president and general manager of Harrah’s and Caesar’s Republic Lake Tahoe. The 88,000-square-foot casino floor at Caesars Republic Lake Tahoe will be reimagined with fresh carpeting, lighting, tables, chairs and digital displays, while also including new slot machines, a high limit room and a World Series of Poker room. The lobby will also be redesigned. The resort’s towers, Remus Tower and Romulus Tower (formerly Mountain Tower and Tahoe Tower), will also be improved. All rooms in the Remus Tower will be remodeled, while Romulus Tower will receive a refresh after previously being fully redesigned in 2020. Additionally, butler service for select suites will be available for both hotels. …
BETHESDA, MD. — Marriott International has reached an agreement to acquire the brand and related intellectual property of citizenM, a hospitality brand based in the Netherlands. The deal is valued at $355 million. The citizenM brand comprises 36 open hotels spanning 8,544 rooms, with properties located in cities such as Paris, Rome, London, New York City and Miami. There are three more citizenM-branded hotels in the development pipeline totaling more than 600 rooms that are set to open by mid-2026. The citizenM select-service lodging brand was founded in 2008. Following closing, the citizenM portfolio will become part of Marriott’s system, with the hotels owned and leased by citizenM subject to new long-term franchise agreements with Marriott. The seller may also receive earn-out payments up to $110 million that are based on the future growth of the brand over a specified, multi-year timeframe. The closing of the transaction is subject to various customary conditions, including U.S. regulatory approval. Morgan Stanley & Co. International plc and Eastdil Secured acted as financial advisors to citizenM in the transaction.
PASADENA, CALIF. — On behalf of Welcome Group Inc., R.D. Olson Construction has completed the development of AC Hotel Pasadena located at 19 S. Madison Ave. in Pasadena. Completed in 21 months, the 100,000-square-foot AC Hotel Pasadena features 194 guest rooms and a bar and cafe serviced by an onsite kitchen. The project also includes 5,000 square feet of leasable space on the first floor along with an event space for planned gatherings. The project team for the $60 million hotel included AXIS, Saiful Bouquet and Wild Muse (formerly known as Design Force).
FORNEY, TEXAS — TEKMAK Development, a locally based, full-service hospitality company, has opened an 87-room, Marriott-branded hotel in the eastern Dallas suburb of Forney. Located at 503 E. U.S. Highway 80, TownePlace Suites Forney is a pet-friendly hotel with suites that feature full kitchens and amenities that include a 24-hour fitness center, outdoor pool and complimentary breakfast. Atlanta-based Peachtree Group will operate the hotel on behalf of TEKMAK Development.
MIAMI — Miami-based Driftwood Capital has completed the $415 million recapitalization of a nationwide hospitality portfolio valued at $1.2 billion. The portfolio includes 18 Hilton-, Marriott- and Margaritaville-branded hotels totaling 4,203 rooms across 10 states. Wells Fargo led financing for the debt component of the transaction with a roughly $330 million securitized senior loan. ACORE Capital provided $85 million in preferred equity. Many of the properties are located in high-growth markets within California, Texas, Florida, North Carolina, Utah and New York. Prominent hotels include Margaritaville Lake Resort Lake of the Ozarks, Marriott San Diego Mission Valley, Hilton Dallas/Southlake Town Square, Canopy by Hilton West Palm Beach Downtown and Hotel Vesper in Houston. Each asset in the portfolio has either been newly built or comprehensively renovated in recent years. “This portfolio brings together some of the highest quality assets we own and operate, creating a uniquely cohesive investment opportunity for our partners,” says Carlos Rodriguez Sr., chairman and CEO of Driftwood. “We’ve intentionally assembled this particular portfolio of assets to reflect strength in markets, performance and long-term fundamentals.” Driftwood says the transaction marks a major milestone in its strategy to create scalable hospitality portfolios, designed to maximize value through operational control, …
SEQUIM, WASH. — Marcus & Millichap has arranged the sale of Great House Motel in Sequim. A private investor sold the property to a private investor for $1.2 million. Allan Miller, Chris Gomes, Huberth Marak and Skyler Cooper of Marcus & Millichap represented the seller, while Donaven Santana and Whitney Rhoades of Marcus & Millichap secured and represented the buyer in the deal. Originally built in 1965, Great House Motel offers 20 guest rooms, several with kitchenettes, and all equipped with TVs, microwaves and mini refrigerators. The property is located at 740 E. Washington St.
ROCHESTER, N.Y. — Mag Mile Capital, a Chicago-based commercial mortgage banking firm, has arranged a $14.5 million CMBS loan for a 210-room, Marriott-branded hotel in Rochester. The hotel was built in 1979 and is located near Rochester International Airport. The five-year, nonrecourse loan carried a 65 percent loan-to-value ratio and a 30-year amortization schedule with two years of interest-only payments. Prabhat Jayara of Mag Mile Capital originated the loan through Morgan Stanley on behalf of the borrower, Sai Global Investments.
AUBURN, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged a $10.8 million loan for the refinancing of an 82-room Hampton Inn hotel in Auburn, located just outside of Worcester in Central Massachusetts. Rooms contain king or double queen beds, microwaves, refrigerators and coffeemakers, and amenities include an indoor pool, fitness room, meeting room, business center and complimentary breakfast. Ted Sidel of EagleBridge Capital arranged the 10-year loan, which carries a fixed interest rate and a 30-year amortization schedule. The borrower and direct lender were not disclosed.