Carlton Hospitality Group secures 10 hotel deals

Carlton Hospitality Group (CHG) has announced it has exclusively secured finance for 10 hotel developments worth more than $1.7b (£869m).

The properties involved are:

• $315m (£161m) for Trump SoHo- A 42-storey, 413 bedroom, five-star hotel in New York;
• $49m (£25m) for Hilton Santo Domingo – Purchase of 21 storey, 228 room business hotel in the Dominican republic;
• $140m (£71.6m) for Tierra Del Sol – Purchase of Tierra del Sol Resort and Country Club in Aruba;
• $46m (£23.5m) for two select service hotels in Orland and Florida;
• £125m (£64m) for a portfolio of five all-suite US hotels;
• $62m (£31.7m) for a portfolio of select service hotels in the Northeast of the US;
• $59m (£30.2m) for a portfolio of four all-suite hotels in Texas;
• $510m (£261m) for the Playa Pelicano in Costa Rica – including two five-star hotels, spas, golf course, 270 residential lots and more than 600 villas;
• $210m (£107m) for the 14 storey, 1572 room Hilton Anaheim in California;
• $205m (£105m) for Long Bay Resorts - the development of a five-star luxury resort in Anguilla

Hospitality Group president John Bralower said: “The outlook for the hotel sector remains strong, in terms of demand for existing assets and development of new brands, with capital continuing to flow into the market.”

CHG is a division of real estate investment bank The Carlton Group. CHG, which specialises in arranging equity and debt financing for hotels and mixed-use real estate projects with a hospitality component, did more than $1b (£511,000) in deals last year and $500m (£256,000) in transactions in the first half of 2006.

CHG website >>

By Emily Manson

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