News for the Hospitality Executive
Downtown in California to Hyatt Place
239-Room Hotel to Undergo $7 Million Renovation and Reopen
as Hyatt Place San Jose Downtown in January 2012
| SAN JOSE, Calif. – July 6,
2011 – DiNapoli Capital Partners (DCP), a leading San Jose-based
estate investment firm, today announces the complete renovation and
of the 239-room Crowne Plaza San Jose Downtown. The hotel, owned and
DCP, will operate as the independent Convention Plaza Hotel while it
the $7 million renovation, beginning in August. Under a franchise
with an affiliate of Hyatt Hotels Corporation, the hotel will reopen as
Place San Jose Downtown in January 2012.
The Crowne Plaza San Jose Downtown was built in 1973, acquired by DCP in 2006, and most recently underwent a full renovation in 2007. Conveniently-located less than three miles from San Jose International Airport (SJC) and across the street from the San Jose McEnery Convention Center, the hotel’s amenities include nearly 7,000 sq. ft. of meeting space. Kenneth Rodrigues and Partners, a local architectural firm based in Mountain View, has been hired to design and oversee the renovation.
There are 160 Hyatt Place hotels open in the U.S., with more than 30 additional properties under development in the U.S., Costa Rica, India, the Netherlands, Panama and Saudi Arabia. Designed to accommodate today’s 24/7 lifestyle, Hyatt Place hotels offer convenient amenities such as complimentary Wi-Fi access, StayFit@Hyatt fitness centers, coffee and wine bars serving Starbucks® specialty coffees and premium wine and beer, and Grab ‘n Go cases stocked with freshly-made sandwiches and salads. Hyatt Place hotel Guest Kitchens offer made-to-order breakfast, lunch and dinner entrées around the clock, in addition to the complimentary continental breakfast served daily.
“The Hyatt Place will be the perfect addition to downtown San Jose, and will cater to the new generation of business travelers who are looking for a hassle-free place to stay, with state-of-the-art technology and a residential feel,” stated Matthew DiNapoli, president and CEO of DiNapoli Capital Partners.
Hyatt Place guestrooms feature multiple areas to work and relax, and include the Cozy Corner™ eight-foot couches; plush Hyatt Grand Beds™; and ergonomic work centers. Every guestroom is also equipped with a state-of-the-art media center that allows electronic devices to plug directly into the 42-inch high definition television, giving guests instant access to the technological amenities they’re accustomed to accessing at home or in the office.
“San Jose is in the heart of Silicon Valley, and the people working in those industries represent the type of guest profile around which we have designed the Hyatt Place brand,” Chris Dobbins, western regional president of Hyatt Place added.
“For close to 40 years, this hotel has been a fixture in downtown San Jose for those visiting and doing business in our city,” said Mayor Chuck Reed. “I’d like to thank DiNapoli Capital Partners for their investments and their commitment to offering first-class accommodations in the urban center of Silicon Valley.”
The announcement comes at an opportune time for the City of San Jose and Team San Jose, who recently approved a 125,000 sq. ft. expansion of the Convention Center directly across the street from where the Hyatt Place will open. Construction is scheduled to begin before the end of the year, with an anticipated completion in September 2013.
“As the Capital of Silicon Valley, San Jose is well positioned for continued success as a meetings and convention destination, especially with the recent completion of a $1.3 billion airport modernization project and the launch of the convention center expansion,” said Bill Sherry, CEO of Team San Jose and the director of the San Jose Mineta International Airport. “The capital campaign and rebranding of the Hyatt Place is exciting news for the destination, and will fit nicely with the growing focus to attract both business and leisure travelers to San Jose.”
Established by DiNapoli, a founding principal of the successful Maritz-Wolff Hotel Equity Funds, DCP’s portfolio of hotels also includes Hyatt Regency San Francisco, the Dallas Fairmont, Hotel Teatro in Denver, Hilton San Jose and Hyatt Regency Phoenix.
About DiNapoli Capital Partners
DiNapoli Capital Partners (DCP) is a privately held real estate investment firm engaged in the acquisition, development and management of hotels and commercial real estate assets. The firm was established by F. Matthew DiNapoli, a founding principal of the successful Maritz-Wolff Hotel Equity Funds. The firm employs a disciplined investment approach focused on value creation and capital preservation. DCP’s investments are characterized by direct principal involvement and a meaningful contribution of its principals’ capital which effectively aligns the interests of the firm and its financial partners. For more information, visit www.dinapolicapital.com.
About Hyatt Place
Hyatt Place brings the authentic hospitality for which Hyatt is known to the upscale select-service category. Inspired by multitasking travelers’ 24/7 lifestyle, Hyatt Place combines stylish design, practical amenities, forward-thinking technology and purposeful service so guests can remain connected and productive while traveling. Hyatt Place is a brand of Hyatt Hotels Corporation that currently offers more than 160 locations throughout the United States. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.com .
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company’s subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt Summerfield Suites® brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of March 31, 2011, the Company’s worldwide portfolio consisted of 451 properties in 43 countries. For more information, please visit www.hyatt.com.
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