Partners acquire Doubletree hotels.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of : GoldenTree InSite Partners, Aimbridge Hospitality and JF Capital Advisors announced that they have formed a partnership to acquire, renovate and manage two Doubletree hotels located in the Denver and Dallas areas. Financial details of the transaction were not disclosed. The two properties are the 300-room Doubletree Hotel Dallas-Campbell Centre in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. and the 248-room Doubletree Hotel Denver-Southeast in Aurora, Colorado The City of Aurora is the third most populous city in the State of Colorado and the 59th most populous city in the United States.[5] The municipality is split between Arapahoe County and Adams County, with a small portion lying in Douglas County. . Under terms of the agreement, Aimbridge Hospitality will operate and manage the hotels on behalf of the partnership, under a franchise agreement with Doubletree Hotel Systems, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Hilton Hotels Corporation Hilton Hotels Corporation (NYSE: HLT) is one of the leading global hospitality companies. As of April 2007 there are 2,645 hotels and 485,000 rooms employing 105,000 people in more than 80 countries. . "We are thrilled to partner with Aimbridge Hospitality and JF Capital," said Tom Shapiro, president of GoldenTree InSite Partners. "Our partnership plans to invest over $9 million to modernize the properties and dramatically improve the guest experience. The renovations will include upgrading the guest rooms, public areas and amenities at each hotel," added Josh Pristaw, a managing director at GoldenTree InSite Partners. According to Dave Johnson, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aimbridge Hospitality, the hotels will undergo more than just physical upgrades. "We are planning to implement a series of operational changes that will enhance the customer experience as well as improve the hotels' financial performance." "Both the Dallas and Denver markets have been performing extremely well of late--each has experienced double digit growth in revenue per available room (RevPAR) in recent years," he added. |
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