Hotels

So far this year, the REIT has made nearly $1 billion in total hotel acquisitions.

Lockwood Development Partners bought a nine-asset portfolio with plans for repositioning them into affordable housing.

With this transaction, MGM Resorts is now 100% owner CityCenter on the Las Vegas Strip, which is comprised of Aria Resort & Casino and Vdara Hotel and Spa.

While some lenders have turned away from hotel deals, others are still willing to lend on the right project.

T2 Capital Management has converted two hotels in Kissimmee, Florida, into workforce housing, and it is planning to tackle similar projects throughout the US.

"If the city doesn't compromise, we'll have to go back to court," an attorney for the Clevelander Hotel said.

The transaction clocks in at a record $2.5 million per-key price for a North American resort.

Don't Underestimate how deeply the lodging sector fell into a COVID trough.