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News for the Hospitality Executive |
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West 55th street between 5th and 6th avenues in NYC NEW YORK, N.Y. (May 4, 2007) - Ark Partners and Willow Hotels are pleased to announce that Ark Partners has purchased the Hilton Washington Embassy Row Hotel. The property, located on Massachusetts Avenue in the trendy Dupont Circle neighborhood in Washington, D.C., was sold by affiliates of The Blackstone Group. The 200-room hotel includes over 10,000 square feet of banquet and event space, a rooftop pool and a 110-space parking facility. The hotel will continue to be operated under the Hilton flag and will be managed by Willow Hotels, an affiliate of Ark Partners. With this acquisition, Ark and Willow own, operate and manage a portfolio of five hotels, including the Shoreham, Mansfield, and Franklin hotels in New York City, and Hotel Pur in Quebec City, Canada. Ark Partners is also under contract to purchase two residential buildings at 15 and 19 West 55th Street, New York, NY, located between 5th and 6th Avenues in Midtown Manhattan and situated across the street from The Peninsula Hotel. Ark, a real estate investment company, and Willow Hotels, a hotel management company, are each led by Chairman Brad Reiss and President John Yoon. Ark and Willow engage in the acquisition, ownership, development, repositioning and management of a broad range of real estate in various national and international markets, including other non-hotel assets in New York; Pennsylvania; Washington, D.C.; Florida; Hawaii and Tennessee. The Hilton Washington Embassy Hotel is located at 2015 Massachusetts Avenue, N.W., 202-265-1600, www.hiltonembassyrow.com. Contact: Michelle McLeod
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