Somerville Massachusetts Embassy Suites Hotel

Xia Hotels and Resorts, Inc. has completed the purchase of the former U.S. Embassy Suites Hotel in Somerville, Massachusetts. The hotel is located on the corner of Main Street and Washington Avenue, just south of State Street. Xenia Hotels & Resort Inc., has acquired the newly developed 600-room Hyatt Regency Portland, the largest hotel in the Oregon Convention Center in Portland.

The two-storey property has a total area of 2,500 square meters and includes two rooms and suites. There is also a 1,000 square metre fitness centre with gym, gym and outdoor pool, as well as a spa.

We believe that our review posts and reactions to properties will highlight a wide range of opinions and experiences that will surely help our guests make well-informed decisions about their stay. We will archive the older 36 months to keep them relevant for future trips.

The guidelines and standards aim to keep Booking.com relevant and family-friendly while limiting the expression of strong opinions. We will use user generated content and property to respond to them, but we do not allow comments in any medium, including social media, blogs, forums or other online forums. You must post and moderate your comments to match the bookings. Com guidelines, regardless of the content of your comment.

All contributions to Booking.com are treated with the utmost respect and reflect our commitment to our guests and property. Google disclaims all warranties, express or implied, including, but not limited to, any warranties of accuracy, completeness, timeliness, reliability, fitness or fitness for a particular purpose. Bookings. Com is a subsidiary of Google Inc., the parent company of this website and is not responsible for any errors or omissions.

Any questions relating to Booking.com services should be referred to our customer service or accommodation service team. Any attempt to lower a competitor's rating by giving a negative rating will not be tolerated and advertising content will be removed. Bookings. Com will do everything to obscure any link between our service and negative reviews or comments on this site or on other sites.

Cambria Somerville Cambridge, part of the Choice Hotels brand, is located on Route 17 290 and is scheduled to open in the winter of 2020. As someone who has stayed at this hotel before, what did you tell others and what did you tell others? The Hampton Inn Suites Mahwah is The Cambrias in Cambridge are both part of the ChoiceHotels brand family.

The purchase price includes $1.5 million of working capital to ensure the hotel is fully operational when it opens. The new hotel will be the first of three new hotels in Somerville, Massachusetts, following the opening of the new Embassy Suites Cambridge in the winter of 2020. A further development, which includes a restaurant, a hotel, office and retail space, is scheduled to open in the first quarter of 2022.

The sale price is double the hotel EBITDA of $1.5 million, or $2.2 million. In addition to the estimated required capital expenditures, the price also reflects the hotel's $12 million in backlog of operating expenses for the first 12 months of operation and $6 million in operating expenses. Only customers who book through bookings.com and stay at the property concerned can write a review.

JLL arranged the financing with a debt fund on behalf of the Noannet Group, which advised on the sale of the property to a private equity firm and an investment bank. The developer, represented by the JLL office in New York and the Boston office of KPMG, was led by the company's managing partner and director, Michael J. D'Agostino.

The acquisition was financed with a $1.5 million loan from Mag Mile Capital, a private equity firm in New York, a debt fund from Noannet Group and KPMG's Boston office. Mag Capital secured the loan at a fixed rate of 5 percent, the relatively low interest rates paid on the borrower's current loan, which provide cash to borrowers.

It was also sold to the Department of Homeland Security's Office of Foreign Assets Control (OCC) for $10 million in October 2015. COO of FinCannon, revealed in the lawsuit that he and his company sold the hotel in July 2015 for a total of $1.5 million, according to court documents.

More About Somerville

More About Somerville