DENVER — Stonebridge Cos., a privately owned, nationally recognized, innovative hotel owner, operator and developer headquartered in Denver, acquired the DoubleTree by Hilton Hotel Las Vegas Airport, marking Stonebridge’s expansion into the Las Vegas market.
“We are excited to continue our growth with the recent acquisition of the DoubleTree Las Vegas Airport hotel. Our new partnership with TowerBrook Capital Partners and other private investors provides us a tremendous platform for us to achieve our significant growth plans throughout the U.S. and this acquisition is the first of many going forward,” said Tom Brinkman, president and chief operating officer of Stonebridge Cos. “Through our growth, we look forward to not only creating new jobs but also providing our team members exciting new opportunities, and we look forward to welcoming our newest team members at the DoubleTree to our Distinguished Hospitality team here at Stonebridge.”
Stonebridge Cos. will serve as the property operator of the full-service hotel, located at 7250 Pollock Drive, just minutes from both the Harry Reid International Airport and the Las Vegas Strip. Renovations planned for the 190-key hotel, built in 1998, include a refresh of guest rooms and common areas, as well as Stonebridge instilling the Distinguished Hospitality brand, which guides the company’s values further enhancing the team member and guest experience. Work is anticipated to begin in the second quarter of 2023, with completion anticipated in the fourth quarter of 2023.
“The Las Vegas DoubleTree acquisition allows Stonebridge to step into a cash-flowing asset with renovation upside at an attractive all-in basis and represents our commitment to growing our national footprint,” said Steve Kakaty, chief investment officer of Stonebridge Cos. “We are excited to be establishing a presence in the dynamic Las Vegas market and believe our execution of the planned renovation program will position the hotel as one of the premier branded hotel offerings in the Las Vegas airport submarket.”
With a current portfolio of 12,000-plus rooms nationwide, Stonebridge Cos. is actively pursuing new expansion opportunities.