Spire Hospitality Adds Management of Eight Embassy Suites
Friday January 24th, 2014 - 9:08AM EB
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CHICAGO—Spire Hospitality was awarded the management of eight Embassy Suites Hotels acquired by AWH Partners, LLC, a privately held, New-York based, real estate investment, development and management firm.
Spire Hospitality will begin a $50-million-plus capital improvement repositioning of these assets to continue their strong performance and to meet the requirements of each hotel’s new 15-year franchise agreement, according to the company.
Bill DeForrest, President/CEO of Spire Hospitality, stated, “The investment that each individual hotel will receive and the strength of the existing associates at these hotels will allow us to continue to build very successful performance at each of these hotels.”
Added Russ Flicker, managing partner of AWH Partners: “We believe Spire will take advantage of our dramatic repositioning plans and strengthen our assets’ performance...."
The Embassy Suites are located in Washington, Oregon, Ohio, Colorado, Michigan and Texas.
Tags: AWH • Spire Hospitality • Embassy Suites • Hospitality • Brands • Acquisitions •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.