Press Release

PRESS RELEASE | HODGES WARD ELLIOTT CLOSES ON SALE OF ST. REGIS WASHINGTON, D.C.

PRESS RELEASE

June 29, 2015

HODGES WARD ELLIOTT CLOSES ON SALE OF ST. REGIS WASHINGTON, D.C.  

Al Rayyan Tourism Investment Company (“ARTIC”), the international hospitality subsidiary of Al Faisal Holding Company, has purchased the award-winning St. Regis Washington, D.C. Mark Elliott and Rudy Reudelhuber of Hodges Ward Elliott advised the seller. Hodges Ward Elliott also advised ARTIC on the procurement of acquisition financing which was provided by Goldman Sachs. 

The St. Regis Washington, D.C. is the premier luxury hotel in the United State’s capital.  Located two blocks north of the White House at the intersection of 16th and K Streets, the 182-room property has arguably the best hotel address in the city. The hotel couples classic elegance with modern amenities, offering opulent rooms and suites, complete with flawless furnishings, state-of-the-art technology and gracious residential touches including an elevated level of bespoke St. Regis Butler Service.

The purchase of the 182-room luxury hotel also includes an adjacent parcel allowing for the development of approximately 22,000 additional square feet, zoned for hotel, office, most retail, parking and/or residential uses.

Established in 2003 as a wholly owned subsidiary of Al Faisal Holding Company, ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas.  ARTIC’s portfolio comprises 32 hotel/serviced apartment properties in the Middle East and Africa, Europe and North America, where ARTIC owns the Radisson Blu Chicago, The St. Regis Bal Harbour and The Manhattan at Times Square. In addition to its hotel portfolio, ARTIC owns hospitality-related services providing cost-effective support services in a shared service model. The company’s current trajectory has ARTIC continuing to increase its investments in the hospitality sector and accumulating a portfolio of world-class hotels located in gateway cities around the world.

Hodges Ward Elliott is the leading hotel brokerage and investment banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement.  Over the past 5 years, Hodges Ward Elliott has sold or financed more than $18 billion of hotels and resorts across the U.S. and Europe including nearly $3 billion since January 1, 2015.  

PRESS RELEASE | HODGES WARD ELLIOTT, INC. ADVISES ON THE SALE OF THE DUAL-BRANDED HILTON GARDEN INN/HOMEWOOD SUITES BY HILTON ATLANTA MIDTOWN

FOR IMMEDIATE RELEASE

Atlanta, GA - May 1, 2015 -       Hodges Ward Elliott (“HWE”) is pleased to have represented North Point Hospitality Group, Inc. in the sale of the dual-branded Hilton Garden Inn/Homewood Suites Atlanta Midtown. Carey Watermark Investors Incorporated purchased the 12-story, 228-key hotel, located in the heart of Atlanta’s Midtown district and immediately adjacent to Interstate 75/85. The property includes 136 Hilton Garden Inn units, 92 Homewood Suites by Hilton units and 3,027 square feet of meeting space.

About Hodges Ward Elliott

HWE is the leading hotel brokerage and investment-banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement for our clients.  Over the past 5 years, HWE has sold or financed more than $17 billion of hotels and resorts across the U.S. and Europe.  

About North Point Hospitality

Based in Atlanta, GA, North Point Hospitality Group is an award-winning hotel development and operations company. Since 1992, North Point has developed 25 hotels from the ground up with a total investment over $385 million. Currently the company owns and operates seven Hilton branded hotels in the Southeast with another 6 hotels under development, in addition to the SpringHill Suites by Marriott Lumberton, NC, the Fairfield Inn & Suites by Marriott Savannah Midtown and the Homewood Suites by Hilton Savannah Historic District / Riverfront, which are currently under construction. 

HODGES WARD ELLIOTT ADVISES ON THE SALE OF THE NEW YORK EDITION HOTEL

PRESS RELEASE

April 1, 2015

HODGES WARD ELLIOTT ADVISES ON THE SALE OF THE NEW YORK EDITION HOTEL

Hodges Ward Elliott (“HWE”) is pleased to have represented Marriott International (“Marriott”) in the $343 million sale of The New York EDITION hotel to Abu Dhabi Investment Authority (“ADIA”).  In 2013, Marriott announced its intention to sell three EDITION hotels -- in London, Miami Beach and New York -- to ADIA for a total of $816 million while maintaining long-term management agreements.  The sale of The New York EDITION marks the final closing, as The Miami Beach EDITION sold in February 2015 and The London EDITION closed in 2014.  HWE represented Marriott in the sale of all three EDITION hotels.

HWE is the leading hotel brokerage and investment-banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement for our clients.  Over the past 5 years, HWE has sold or financed more than $17 billion of hotels and resorts across the U.S. and Europe. 

PRESS RELEASE | HODGES WARD ELLIOTT ADVISES ON THE SALE OF THE MANHATTAN AT TIMES SQUARE HOTEL

PRESS RELEASE

February 14, 2015

HODGES WARD ELLIOTT ADVISES ON THE SALE OF THE MANHATTAN AT TIMES SQUARE HOTEL

 Hodges Ward Elliott (“HWE”) is pleased to have represented Rockpoint Group, L.L.C., Highgate Hotels, and a Goldman Sachs fund in the $535 million sale of The Manhattan at Times Square Hotel in New York City.  Al Rayyan Tourism Investment Company (“ARTIC”), the international hospitality subsidiary of Al Faisal Holding Company, purchased a 97 percent interest in the hotel.  HWE also represented ARTIC in procuring acquisition financing, which is being provided by Goldman Sachs.  Highgate Hotels will continue to manage the hotel.

 Built in 1962, The Manhattan at Times Square Hotel is located at the heart of Midtown Manhattan and combines the age-old glamour of New York and classic Art Deco detailing with a coveted Times Square location. The 22-story property features 689 rooms and suites, commercial space and is within easy reach of numerous New York landmarks. The hotel covers an entire block and is situated at 790 Seventh Avenue. Further, the site has future development potential as the new owner could develop as much as 900,000 square feet on the existing parcel, if the site were put through New York City’s uniform land use review process.

 HWE is the leading hotel brokerage and investment-banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement for our clients.  Over the past 5 years, HWE has sold or financed more than $17 billion of hotels and resorts across the U.S. and Europe.