HEI Earmarks $1.5 Billion Toward Hotel Acquisitions
Thursday February 5th, 2009 - 11:10AM W
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
NORWALK, CT—Owner/operator HEI Hotels & Resorts, based here, has revealed plans to deploy up to $1.5 billion of its third fund during 2009.
HEI Hospitality Fund III, L.P., is a fully discretionary fund which has approximately $500 million in equity and is intended to acquire or develop between $1.5 billion and $2 billion in hotels and resorts over the next two years.
According to the company, the fund will target full-service, upper-upscale and luxury hotels, resorts and premium select-service hotels in the U.S., Canada and Caribbean under leading brands. Desired locations include downtown central business districts in urban, premium suburban and airport sites.
Tags: • Hospitality •
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.