News for the Hospitality Executive
Sells the 293-suite Embassy Suites Irvine –
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.”About HEI Hotels & Resorts
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.
Stephen Chan, Vice President, Acquisitions and Development
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