Gemstone Acquires Hotel Durant
Wednesday January 16th, 2013 - 12:36AM HO
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BERKELEY, CA—Gemstone Hotels & Resorts acquired the Hotel Durant here.
According to the management company, the 144-room boutique hotel, located adjacent to the University of California Berkeley campus, is part of an expansion strategy.
“We aggressively are pursing other equity-based deals and are positioned to act quickly in the future when we can acquire and add immediate value,” said Thomas Prins, Gemstone principal. “For 2013, we are optimistic that our active pipeline will yield some exciting hotels in excellent locations.”
The hotel’s guestrooms feature Sealy pillow-top beds, 300-thread-count cotton linens, a choice of hypoallergenic or down pillows and comforters, blackout shades and ceiling fans. Amenities offered include laptop safes, iPod docking stations and certified organic robes.
Tags: • Hospitality • Ownership • Management Companies •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.