Watermark Lodging Trust announced they signed a deal with private real estate funds managed by Brookfield Asset Management that will see Brookfield acquire Watermark in a $3.8 billion all-cash deal.
Brookfield will pay $6.768 per Class A share and $6.699 per Class T share. The transaction includes the assumption of debt and the preferred equity. Watermark’s portfolio consists of 25 properties with more than 8,100 rooms located in the drive-to-leisure destinations and urban cities in 14 states. Brookfield expects to close the transaction in the fourth quarter of this year.
Orient Express signed a partnership agreement with Arsenale S.p.A. to open the second Orient Express hotel in Italy at the Palazzo Dona Giovannelli in Venice. The Orient Express Venice Hotel will consist of 45 rooms and suites, a restaurant, and bar.
Read more: Skift
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