News for the Hospitality Executive |
IRVINE,
Calif., November 2, 2010—Officials of HEI Hotels
& Resorts (HEI), the nation’s fastest growing private
owner/operator of
hotel real estate, today announced that the company has sold the
293-suites
Embassy Suites Irvine – Orange County Airport, in southern California,
for an
undisclosed price. HEI will maintain management of the hotel
under terms
of the transaction, brokered by Mark Elliott of Hodges Ward Elliott.
“With the comprehensive renovation
completed in 2008, we
have achieved our long-term ownership vision for this hotel,” said
Steve
Mendell, president—acquisitions and development. “Combining our
intimate
knowledge of both the hotel and the market, however, we believe we will
continue to add value to this asset as a third-party operator.” Located at 2120 Main Street, the newly
renovated Embassy
Suites Irvine – Orange County Airport is less than a mile from John Wayne/Orange County
Airport and
proximate to Disneyland® Resort, University of California at Irvine
and Angel
Stadium of Anaheim. Guest suites offer the Embassy
Essentials® Bedding Collection and deluxe environment; exclusive
Bloom® Energy™
bath and body products; and high-speed wireless Internet
access.
The hotel features an indoor swimming pool, whirlpool, fitness center,
business
center and onsite Ha' Penny Pub and
Grill.
The property provides complimentary
cooked-to-order breakfast
every
morning and beverages and light snacks every evening at the
Manager's
Reception in the atrium. “HEI continues to build relationships
with an ever
expanding group of hotel owners,” said Anthony Rutledge, HEI chief
financial
officer. “We look forward to working with the new owner
in the future and hope to draw on the best qualities of
the
hotel, including its ideal location, to positively support both
companies.” HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment firm that acquires, develops, owns and operates full-service, upper upscale and luxury hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Meridien, Embassy Suites, and Hilton. For more information about HEI, visit the company’s website, www.heihotels.com. |
Media Contact:
Stephen Chan, Vice President, Acquisitions and Development (203) 849-8844 [email protected]
|