News for the Hospitality Executive
WEDGE Hotels Acquires Portfolio of Four Hilton Properties
August 9, 2012 - WEDGE Hotels Corporation today announced that it has acquired four Hilton-branded hotels, significantly expanding the WEDGE portfolio of hotels as the company pursues a strategy of growth through property acquisition. Kana Hotel Group, an award-winning independent hotel management company, has been retained to manage the properties. The acquired hotels are:
“Kana has earned a well-deserved reputation within Hilton as a highly capable management group and we are happy that they will be bringing this expertise to the management of these hotels,” he added. Stage noted that WEDGE Hotels is continuing to pursue a strategy of growth through property acquisition and is actively searching for new locations nationwide. In addition to the four newly acquired properties, the WEDGE hotel portfolio includes hotels within the Marriott, Starwood, Wyndham, and Radisson brands.
Kevin Mahoney, President of Kana Hotel Group commented, “We’re excited to be partnering with Wedge on these acquisitions and look forward to pursuing more deals with them. We believe well-designed hotels that offer excellent customer service are the key to creating long-term value. As a private equity company, Wedge is similarly committed to sustainable success,” he added.
WEDGE Hotels Corporation, owns hotels in Connecticut, Massachusetts, Texas, Alabama and North Carolina. WEDGE Hotels is part of WEDGE Real Estate Holdings, a privately-held real estate investment firm headquartered in Houston, TX. For additional information see: www.wedgerealestateholdings.com.
About Kana Hotel Group
Kana Hotel Group is located in Knoxville, TN, with additional offices in Tampa, FL. Kana is an award winning independent third party management company with over 2,200 hotel rooms under management, and additional 500+ rooms in development. The portfolio is well diversified amongst major brands such as Hilton, Marriott, and IHG. Kana Hotel Group has extensive relationships with institutional owners and lenders as well as individual ownership groups. More information can be found at www.kanahotelgroup.com.
WEDGE Hotels Corporation
Kana Hotel Group
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