NATIONAL REPORT—As travel restrictions subside and leisure markets gain appeal, more and more people are beginning to feel comfortable hitting the road. RobertDouglas and Hodges Ward Elliot have both completed boutique hotel transactions in travel destinations:
RobertDouglas Advises Waterton, Orion Companies on the Financing for The Virginian Lodge
RobertDouglas advised Waterton and the Orion Companies in securing a $30-million, non-recourse senior mortgage for the acquisition and renovation of The Virginian Lodge in Jackson, WY. The long-term, fixed-rate financing was provided by a national bank. The Virginian Lodge is located on a 12.9-acre site in the heart of Jackson close to the historic Town Square and near outdoor recreation opportunities including Grand Teton National Park and Yellowstone National Park, among others.
The property consists of a 170-key independent hotel and 103-stall RV Resort. The Virginian Lodge will undergo a transformational renovation and be repositioned as a boutique, outdoor lifestyle hotel. Jackson has become a travel destination in the United States due to the growing outdoor tourism market. Unlike most U.S. markets, Jackson is experiencing a significant increase in visitors this summer, surpassing numbers from the past three years.
Hodges Ward Elliott Arranges Acquisition of The Georgian Hotel in Santa Monica
Hodges Ward Elliott represented a buyer group comprising BLVD Hospitality, along with Global Mutual and ESI, in the acquisition of The Georgian, a boutique hotel located in Santa Monica, CA along the city’s Ocean Ave. An HWE team composed of Tony Malk, managing director; Brett Katz, managing director; Diana Simpson, director; and Jordan Kirkbride, VP, advised the buyer on the acquisition and capitalization for the hotel. The acquisition was finalized in an off-market deal between BLVD and the previous owners of the hotel, who have held the property since 1991.
Built in 1933, The Georgian hotel is known as Santa Monica’s “First Lady” and is recognized for its turquoise color and period revival Art Deco design. The hotel is located above the Santa Monica Pier and serves as one of Los Angeles County’s remaining nostalgic vestiges of Old Hollywood. The Georgian has 84 guestrooms and suites, ocean view dining at the hotel’s on-site Veranda Restaurant and event space, in addition to a 24-hour business center and a fitness room.