Kana Hotel Group and Frontier Acquire Embassy Suites Columbus, Ohio; Complete Renovation Planned
October 19, 2015 10:19am
Columbus, OH – (October 19) – Kana Hotel Group announces that it has closed on the purchase of the Embassy Suites Columbus, located at 2700 Corporate Exchange Drive, Columbus, OH in a joint venture with Frontier Development & Hospitality Group. The 221 all suite Embassy Suites features over 7,100 square feet of meeting space and is conveniently located near Westerville, OH with easy access to many local demand generators including Ohio State University, and is only 15 minutes from Port Columbus International Airport.
The hotel was purchased for $14,050,000 and an additional $8,200,000 in renovations are planned to completely transform the property including slightly increasing the room count, and increasing the meeting space. “The renovations planned for this property are going to touch every aspect of the hotel and deliver something that the Columbus market really does not have at this time. The design, the look and the feel will be totally different than what you see today; we’re very excited about this project” said Alpesh Patel, CEO of Kana Hotel Group. “This property represents our sixth Embassy Suites, and the 31st Hilton branded hotel in our portfolio” added Kevin Mahoney, President of Kana. “We’re very high on the Embassy brand, and with the changes that we have planned to reposition this property we feel great about the upside in Columbus”.
This purchase was a joint venture between Kana and Frontier Development & Hospitality Group. Kana will manage the hotel while the design and construction will be lead by Frontier. "With the diverse economic base of Columbus and its recent emergence as one of the fastest growing commercial and tech markets, the Embassy Suites Columbus is prime for a significant capital infusion to bring about a chic & modern revitalization and position itself along side of the market's economic development & growth", says Evens Charles, CEO of Frontier Development & Hospitality Group LLC.
Tags: kana hotel group,
embassy suites columbus
Kana Hotel Group is located in Knoxville, TN, with Southern Regional offices in Tampa, FL. Kana is an award winning independent third party management company with over 4,900 hotel rooms under management, and additional 1,200+ rooms in development. The portfolio is well diversified across 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.
Contact: Kevin Mahoney
Frontier Development & Hospitality Group LLC is a real estate development and acquisition firm with a diverse asset portfolio but a primary focus in hospitality. Frontier’s invested assets include hotels, luxury residential and multi-family projects. Frontier’s hotel portfolio totals over $125MM in market value and has included brands like Marriott, Hilton and InterContinental hotels. Frontier is a committed partner to its investors and the communities in which it invests. More information can be found at www.frontier-development.com.
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