News for the Hospitality Executive
Chicago, IL, March 7, 2010 – an investment group spearheaded by Lodging Capital Partners, LLC announce the purchase of the Hilton Rye Town, a 447-room upscale hotel in Westchester County, New York. The hotel, which will continue to be operated by Hilton Worldwide, will undergo a major transformation of its lobby, restaurant, fitness center and other public areas beginning later this year.
“We are pleased to add this unique asset to our portfolio, in addition to expanding our growing relationship with Hilton,” said Steve Kisielica of Lodging Capital Partners, LLC, who recently purchased the hotel. “We are looking forward to capitalizing on the property’s excellent location and park-like setting situated on almost 36 acres in the New York MSA,” added Kisielica.
About Lodging Capital Partners
Lodging Capital Partners, LLC was formed in 2005 and has become a premier owner and Asset manager of upper-upscale and luxury hotels. The company’s investment strategy is to target hotels in resort and urban markets larger than 150 rooms with strong growth or unique repositioning opportunities. Since formation, LCP has invested in a portfolio with a valuation of over $1.3 billion. Asset purchases include: the Fairmont Orchid in Mauna Lani, the Drake Hotel in Chicago, the Four Seasons Austin, the Hotel Jerome Aspen, the Le Meridien Chicago and the Snake River Lodge & Spa in Jackson Hole, among others. Members of LCP have combined 100 years of experience in hotel valuation, acquisitions, financing, asset management and dispositions. The team has purchased over $5.0 billion of properties, implemented over $7 billion of financings, raised over $2.5 billion of public and private equity and sold $1 billion worth of assets, all of which related to full-service hotels and resorts.
Lodging Capital Partners, LLC