Philly’s SugarHouse Casino Will Rebrand After Upgrades

Rush Street Gaming will rebrand SugarHouse Casino, Philadelphia’s first licensed casino, later this year after a series of property upgrades. Among other things, the new name, Rivers Casino Philadelphia, will enable regional and national marketing to promote one Rivers Casino brand across multiple markets and channels. The company owns three other properties branded as Rivers

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$5M Renovation Planned for Albuquerque’s Hotel Cascada

Albuquerque, NM’s Hotel Cascada is slated for a renovation, and will operate under a new flag. Specifically, the 300-room hotel and water park will undergo a $5 million upgrade to its lobby, meeting and guest rooms, while taking on the name of Wyndham Hotel & Conference Center this summer. The 45-year-old hotel, situated on 11 acres

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CityCenter Closes $214M Sale of Mandarin Oriental Las Vegas

CityCenter Holdings, LLC, a venture between MGM Resorts International and Infinity World Development Corp., closed on the sale of the Mandarin Oriental Las Vegas and adjacent retail parcels for $214 million in cash. The property, which includes 392 guestrooms, is now part of the Waldorf Astoria portfolio. MGM Resorts International’s Jim Murren says, “CityCenter has continued to

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Pebblebrook, Margaritaville Reveal First West Coast Resort

Bethesda, MD-based Pebblebrook Hotel Trust and Palm Beach, FL-based Margaritaville Holdings plan to open Margaritaville Island Resort in San Diego in 2020. It would be the brand’s first West Coast property, and be located on the 44-acre Vacation Island in Mission Bay. The site is currently home to Paradise Point Resort & Spa, which Pebblebrook

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Oceanside SpringHill Suites Secures $21M Refi

JLL arranged a $20.7-million refinancing for SpringHill Suites by Marriott San Diego Oceanside/Downtown, a 149-room, all-suite, LEED-certified Silver, select-service hotel located in downtown Oceanside, CA. JLL worked on behalf of the borrower to arrange the five-year, fixed-rate loan with Umpqua Bank. Loan proceeds will be used to retire existing loan, cover transaction costs and return

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Thorofare Provides Refi on DC-Area Sheraton

Thorofare Capital has provided an affiliate of Integrated Capital LLC with a $16-million short-term senior loan to refinance the Sheraton Silver Spring Hotel in Silver Spring, MD, a Washington, D.C. suburb. Proceeds from the 12-month, interest only, non-recourse bridge loan refinanced a bank loan, added capital for ongoing building upgrades, and repatriated a portion of

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Ashford Lands La Posada de Santa Fe for $50M

Dallas-based Ashford Hospitality Trust, Inc. is acquiring the 157-room La Posada de Santa Fe in Santa Fe, NM for $50 million. The boutique hotel property is located on more than five landscaped acres near the historic Santa Fe Plaza in northern New Mexico, roughly 60 miles north of Albuquerque. Ashford Trust’s Douglas A. Kessler says, “The acquisition of La Posada provides us the opportunity

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