The news was out a few days ago that the James Royal Palm Hotel was purchased by investors for $278 million but get this: even though the hotel was totally revamped only a few years ago by the James people, now it's going to be a Starwood Hotel, becoming the first hotel in Starwood's new Collection Brand. "The Trust expects the hotel will be managed by HEI Hotels & Resorts and be affiliated with Starwood Hotels and Resorts' new Collection brand." reporting Chesapeake Lodging Trust Trust in their fourth quarter earnings call. No word yet on whether this means yet another multimillion dollar overhaul even though the last one happened in 2012, but it wouldn't be shocking.
· Chesapeake Lodging Trust reports fourth quarter results [CLT]