Driftwood, Apollo JV Acquires Ohio DoubleTree
Friday December 7th, 2012 - 10:48AM
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COLUMBUS, OH—Driftwood Hospitality Management, LLC, and a real estate investment fund managed and advised by affiliates of Apollo Global Real Estate Management, LP, acquired the DoubleTree Suites by Hilton Columbus Downtown.
The hotel is the fifth property acquired via joint venture between Driftwood and AGRE since it formed in July 2011 to focus on purchasing, renovating and reflagging full-service hotels throughout the United States.
The DoubleTree flag will remain and Driftwood will continue to manage the 194-room property.
Tags: Hospitality Ownership Management Companies
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.