Renaissance by Marriott Savery Hotel Sold
Thursday December 12th, 2013 - 9:47AM EB
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DES MOINES, IA—A Southern California-based investment group has sold the historic full-service, 212-room Renaissance by Marriott Savery Hotel to Schulte Hospitality and Starwood Capital’s venture for an undisclosed amount.
Hunter Hotel Advisors exclusively represented the Southern California-based investment group. Hunter Hotel Advisor’s Danny Givertz, SVP in Hunter’s Los Angeles office, brokered the transaction to Schulte Hospitality and Starwood Capital’s venture. “Hunter was pleased to represent this beautiful landmark hotel,” said Givertz. “The buyer is excited to invest in a piece of Des Moines history.”
Built in 1919, the hotel serves as a stately architectural landmark in downtown Des Moines, and is listed on the National Register of Historic Places. The 12-story hotel is well known locally as a stately stop for both presidents and generals. The purchaser is planning an extensive renovation of the hotel and all of its amenities to bring an elegantly modern flair to the property.
Tags: Renaissance by Marriott • Hospitality • Brands • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.