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Associated Ventures LLC to Develop ‘Hotel Highland’ Collection for U.S. Market
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Flagship property to open in Phoenix pending rebranding of Phoenix Inn Suites
property and construction of an adjacent 80-unit condominium tower
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Los Angeles, Calif. – March 19, 2008 — Associated Ventures LLC, an international real estate development and investment firm, based here, announces a new hotel collection for the U.S. lodging market called “Hotel Highland.” The limited-service, urban boutique brand is designed for business and leisure travelers seeking affordable stylish accommodations in an urban environment.

The first property, the Hotel Highland at Biltmore, will open in September 2008, following the conversion of a 120-room Phoenix Inn Suites hotel in the Fortune 500 Biltmore corridor area of Phoenix. An 80-unit condominium tower is planned to be built adjacent to the hotel when market conditions stabilize. Associated Ventures currently is in negotiations to purchase a second property in Chicago and a third in Tuscon, Ariz., for the Hotel Highland collection.

“We look forward to bringing a new urban, boutique-style hotel collection to the U.S. lodging industry,” said Melanie Pennell-Mayer, Managing Member of Associated Ventures LLC. “With demand growing in urban markets for non-branded product with unique amenities that offer an affordable ‘cool’ factor, Hotel Highland intends to give travelers a new choice for stylish, personalized, high-tech accommodations in locations that bring together a mix of culture, business, and community. It will be higher living, higher style, and higher-tech than presently available in a give market.”

Michael D. Mayer, also a Managing Member of Associated Ventures LLC, stated that “although each Hotel Highland may look different from the other the common thread to each property will be cool upscale amenities paired with exciting local food and beverage concepts.  The typical candidate for a Hotel Highland is a uniquely located existing mainstream branded hotel in the stage of its lifecycle where a costly PIP is required to conform to the standard brand comp set.  We believe that the cost of the PIP under the brand would not generate the income that could be achieved by spending the same amount on repositioning the hotel to an upscale boutique Hotel Highland that is not restricted by a perceived ceiling on rate associated with brand ADRs. 

Higher Living, Higher Style at the Hotel Highland at Biltmore

One of the key elements that will set the Hotel Highland at Biltmore apart from the competition is its adoption of specialized amenities and local design. The design scheme has an urban flair incorporating natural stone, wood, leather, and decorative metals will be used throughout the property, accented by artwork, original sculptures, and prints from local artists – which also will be available for purchase by guests and local residents. 

The flavor will be carried into the guestrooms, with in-room refreshment centers featuring wines from local wineries, beers from area microbreweries, prickly-pear candies, sage-infused teas and other organic items for snacks indigenous to the desert area. 

“The Hotel Highland at Biltmore will not have a full-service restaurant, but instead will feature a barista and other grab-and-go deli items available 24/7,” Pennell-Mayer said. “Modern interpretations of Southwestern foods and condiments also will be featured. The Greatroom area will serve as a communal lounge complete with a full-service bar featuring a unique selection of libations. From a technology standpoint the Greatroom will offer wireless Internet access, oversized plasma televisions and more. The social setting also is enhanced by the adjacent poolside area, and will feature a fire pit where guests can take advantage of the beautiful weather that Arizona has to offer.”

The third floor of The Highland will be reserved exclusively as a Concierge floor available to guests of that floor for a premium, accessible only by private key. In addition to larger flat panel screens, luxury linens and pillows, the concierge level will feature a 24/7 executive lounge, gourmet snacks and coffees, as well as local, international and financial newspapers. The area also will provide wired and wireless Internet access. 

“The executive lounge is a place for business people to relax and hang out or to meet and talk business,” Pennell-Mayer said. “It’s an environment that is friendly and functional and full of style and flair to meet travelers’ needs from around the world.”

A self-service Business Center will be available on the lobby level, and all conference rooms will be equipped with the latest in audio/visual technologies, including video conferencing and plasma screens.

For more information on The Highland and Associated Ventures LLC, visit www.associatedventures.us.com.

ABOUT ASSOCIATED VENTURES
Associated Ventures LLC, successor to Site Realty Inc., is a national real estate development and investment firm that has been responsible for more than 35 projects exceeding $1,000,000,000 in value with experience in all facets of real estate and places special emphasis on the hospitality and condominium sectors of the market.  Associated Ventures LLC acquires and invests in properties in domestic and foreign markets. In addition to its North American activities, AVI is actively working on the implementation of development projects in Russia and the country of Georgia. Currently, Associated Ventures has in excess of $800,000,000 worth of real estate under consideration or development. Associated Ventures continues to look for assets strategically placed within their respective markets with value added features that will allow us to expand our portfolio". Please visit our website at www.associatedventures.us.com.

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Contact:

Barb Worcester
 President/Principal
 PRPRO
Tel: (440) 930-5770
barbw@prproconsulting.com

Melanie Pennell-Mayer
Managing Member
Associated Ventures LLC
Tel: (310) 980-0162
 mipennell@associatedventures.us.com
www.associatedventures.us.com

 

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