News for the Hospitality Executive
MIG Real Estate to Renovate and Convert The 87-room Point Inn
NEWPORT BEACH, CA -- Jan 17, 2012 - MIG Real Estate (Merage Investment Group Real Estate) a Newport Beach, Calif.-based real estate investment company, has announced plans to convert two existing hotels -- The Point Inn & Suites in Jackson, Wyoming and the Hotel Highland in Phoenix, Arizona -- into Hampton Inns. The conversions include renovations to both properties, which will be completed by May 2012 and October 2012, respectively.
The 87-room Point Inn & Suites is located at 350 South Highway 89 in Jackson and the 119-room Hotel Highland is located at 2310 Highland Avenue in Phoenix. Each will undergo a variety of modifications designed to meet the high standards of the Hampton Hotel system.
"Travelers have grown to expect the high level of comfort and service associated with the Hampton name," said Greg Merage, CEO of MIG Real Estate. "We are proud to operate under the Hampton flag, and guests will appreciate the value-added service offerings provided by our hotels."
Enhancements to the interior of the hotels are being made to provide guests with the free amenities and services they have come to expect, including free On the House® hot breakfast, high-speed internet access in all guestrooms, wireless internet access in the lobby and meeting spaces, and Hampton's signature bedding program: Cloud Nine, The Hampton Bed Experience.
MIG Real Estate, teamed with Wright Investment Properties to acquire and convert the hotel located in Jackson Hole, a popular tourist area for outdoor winter and summer activities and proximate to national parks. Hospitality Management Advisors, an affiliate of Wright, is the hotel operator.
MIG Real Estate acquired the Phoenix property in 2010. Located in the heart of the Camelback corridor, as a Hampton Inn, it will be poised to capture a large share of business travelers visiting prominent employers located in the approximate 9 million square feet of surrounding office properties. Concord Hospitality Properties is the hotel operator. Concord, based in Raleigh, NC, operates 83 hotels throughout the U.S. and Canada.
These two properties represent MIG's foray into the Hilton family of brands, and complement MIG's other major branded hotels. "We will continue to seek these types of conversion opportunities," said Merage. "We look forward to a long-term relationship with Hilton Hotels as we continue to expand our portfolio".
About MIG Real Estate
MIG Real Estate owns and operates a diverse portfolio of assets in California, Phoenix, Jackson, Las Vegas, Hawaii, Denver and Edmonton, Alberta. The firm is currently engaged in an aggressive expansion strategy, seeking value added and opportunistic investment opportunities in select service hotels, grocery anchored shopping centers, office, industrial and multifamily properties. MIG Real Estate has acquired approximately 3 million square feet totaling more than $400 million of assets since April 2009. MIG Real Estate is the real estate arm of MIG Capital (Merage Investment Group), an alternative investment firm that also encompasses MIG Absolute Return and MIG Private Equity. Additional information is available at http://www.migcap.com/RealEstate/.
About Hampton Hotels
The Hampton brand, including Hampton Inn, Hampton Inn & Suites, Hampton Inn by Hilton, Hampton Inn & Suites by Hilton and Hampton by Hilton, is an award-winning leader in the mid-priced hotel segment. With more than 1,800 properties globally, Hampton Hotels is part of Hilton Worldwide, the leading global hospitality company. All Hampton Hotels offer warm surroundings and a friendly service culture that share a common "personality" supported by the 100% Satisfaction Guarantee. High-quality accommodations, in-room conveniences and the latest technology, combined with numerous locations and consistent offerings, have made Hampton a leader in its segment and one of the fastest growing hotel brands. For more information about Hampton Hotels, please visit www.hampton.com/pressandmedia, www.facebook.com/Hampton or follow us on Twitter at www.twitter.com/HamptonFYI.
About Hilton Worldwide
Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 92 years, Hilton Worldwide has been offering business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,700 hotels and 610,000 rooms in 82 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®.
For more information about the company, visit www.hiltonworldwide.com.
Hospitality Joint Venture with Lupert-Adler Sells 177-room Courtyard by
Marriott Edmonton in Alberta, Canada to MIG Real Estate; Concord Stays
on as Property Management / April 2011