Friday January 24th, 2014 - 9:08AM
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.