Aimbridge Hospitality Awarded Management of the Sheraton Suites Dallas Market Center
January 23, 2017 11:27am
Dallas, Texas (January 23, 2017) — Aimbridge Hospitality has been awarded the management contract for Sheraton Suites Dallas Market Center.
The owner of the hotel, a joint venture between SV Hospitality, LLC and private funds managed by Iron Point Partners, LLC, purchased the hotel in late 2015. The owner selected Aimbridge Hospitality for their proven track record as a premier hotel management company that delivers results.
“We are excited to work with SV Hospitality and Iron Point to drive value at the Sheraton Suites Dallas Market Center,” said Dave Johnson, CEO of Aimbridge Hospitality. “Following the comprehensive renovation of the property that is currently underway, we will gain market share and increase profitability at this hotel which is ideally located within the Dallas Market Center submarket.”
Sheraton Suites Dallas Market Center will soon undergo an extensive multi-million dollar renovation, slated to begin the second quarter of 2017.
The extensive hotel renovation will include a new, fresh layout and design of the public spaces and food and beverage outlets. All guest rooms will be refreshed with new furniture and stylish bedding and the fitness center will be expanded for guest convenience.
“We are delighted to be partnering with Aimbridge Hospitality,” said Lee LaRochelle, principal at SV Hospitality. “There are exciting things happening at Sheraton Suites Dallas Market Center, and we look forward to an ongoing successful relationship with Aimbridge.”
For more information, please visit www.sheratonsuitesdallas.com.
Tags: sheraton suites dallas market center,
iron point partners
Aimbridge Hospitality is one of the nation’s largest independent hotel investment and management firms with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides property management, asset management, development, renovation and consulting services. Based in Dallas, Texas and with development offices in Chicago and Puerto Rico, Aimbridge currently owns and/or manages approximately 500 upscale, independent and branded hotels with more than 70,000 rooms across the United States and the Caribbean. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.
Contact: Lauren Rios
Founded in 2007, Iron Point Partners, LLC (“Iron Point”) is a registered investment adviser that manages a series of real estate private equity funds formed to invest in opportunistic real estate transactions. The firm has raised more than $2 billion of equity capital through the Iron Point funds and maintains offices in Washington, D.C. and Dallas, Texas. Iron Point invests across multiple value-oriented, and often counter-cyclical, investment themes, including commercial distressed real estate, technology related real estate, healthcare related real estate and other opportunistic real estate assets.
Founded in September 2015, SV Hospitality is active in hospitality repositioning, with a focus on value creation opportunities. Principal Lee LaRochelle has over 35 years of hospitality experience and was most recently a Managing Partner at JWM Family Enterprises, specializing in hotel acquisitions, management contract negotiations, renovations, hotel repositioning, asset management and financing. From 2005 to 2015, Mr. LaRochelle renovated and asset managed 16 hotels representing more than 4,000 keys, including four full-service Marriott hotels, four Renaissance hotels, and eight limited-service Marriott hotels. Prior to joining JWM Family Enterprises, Mr. LaRochelle spent nearly 25 years with Marriott International.
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