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Urban Commons and Brighton Management Purchase the
101-room Le Rivage Hotel in Sacramento, California
|
News for the Hospitality Executive |
| LOS
ANGELES, Dec. 17, 2012 -- Urban Commons , LLC, together with
Brighton
Management, announced today the purchase of the prestigious boutique, 4
Diamond, 101-room, Le Rivage Hotel in Sacramento. The Le Rivage Hotel
will be
the first purchase in the greater Sacramento
area for both Companies. Urban Commons and
Brighton have been in negotiations with various premier brands and have
recently received approval to reflag the hotel into the Westin brand.
The
Companies, along with Westin, are excited to be working together for
this
conversion and plan to move quickly to get everything ready for its new
rebranding in the upcoming weeks. Urban Commons has been aggressively growing its portfolio particularly in the hospitality sector. With top management set in place, the Company has been able to seamlessly takeover hotels and quickly regenerates value by adding directly to their bottom line. Urban Commons targets distressed and/or bank-owned hotels, where they see the greatest growth potential and upside opportunity for their investors. Brighton Management currently owns and operates hotels located primarily in the Southern California Counties of Los Angeles, Orange, and Ventura. Recently, Brighton has re-focused on building its portfolio by buying hotels at great values and expanding its reach beyond the Southern California region. As part of its strategic growth plan, Brighton continues to strengthen its market share by channeling traffic to its surrounding hotels and by having properties available at every price point in the market, resulting in increased revenue growth and net operating income in every segment of the market. In the current 2012 year, Urban Commons and Brighton Management together have completed 15 hotel acquisitions totaling over $180 Million. With their successes in the hospitality sector, the Companies together will continue its aggressive pace for 2013. Urban Commons Urban Commons , a Los Angeles-based real estate investment firm, specializes in hospitality and residential income generating assets. Urban Commons targets income property acquisitions in highly populated, predictable markets. With over two decades of cumulative real estate investment, development, and management experience, the founders have strategically aligned and have proven their ability to thrive in the US real estate market throughout all market cycles. Urban Commons owns, manages and invests in a variety of assets including land, apartment buildings, condominium projects, hotels, retail and commercial properties. Hospitality partners include names such as, Starwood Hotels and Resorts Worldwide®, Hilton Worldwide® and InterContinental Hotels Group®. For further information about Urban Commons , please visit www.urban-commons.com Brighton Management Brighton Management is a privately owned and operated real estate company focusing primarily on hotel development and management since its inception in 1994. With over 24 hotels under management, Brighton is one of the most influential hotel management companies in the industry. In addition to hotels, Brighton also manages 9 other commercial/residential properties throughout California. Hospitality partners include names such as, Starwood Hotels and Resorts Worldwide®, Marriott International®, Hilton Worldwide®, InterContinental Hotels Group®, Wyndham Worldwide®, Choice Hotels International®. Additional information about Brighton Management may be found on www.brightonmgt.com. |
| Contact: Nancy Choi (949) 300-0429 [email protected] Media Contact: Tom Lee Brighton Management LLC 949 390-6888 [email protected] |