Columbus, OH – June 26, 2023 – Today Whitestone Companies announced the purchase of five hotels from KKR totaling 612 guestrooms. The hotels include: the Hilton Garden Inn Colorado Springs, Homewood Suites Colorado Springs, Homewood Suites Princeton, Homewood Suites Cleveland, and Courtyard West Palm Beach Airport.
“Today is a great day,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “We are excited to add these new properties to our growing portfolio. I would like to thank all the people who put in an incredible amount of work to make this deal happen.”
Whitestone Companies is a real estate investment company based in Columbus, Ohio and recently won Hilton’s Developer of the Year Award for its conversion of the Hampton Inn Newark Airport. With these new acquisitions, Whitestone Companies adds the states of Florida and Colorado to its list of investments stretching across nine states and three time zones.
“We not only grew by five hotels, but also by over 125 associates!” said Batra “To each of you, I want to say welcome to the Whitestone Family. We saw amazing potential in each of your hotels and together we will implement our strategy; upgrade the physical product, inspire operational excellence, and have a positive impact in each of your markets.”
This purchase enables Whitestone Companies to expand its relations with both Hilton and Marriott by adding two new brands to its current asset lineup. These include the Courtyard and Homewood Suites Brands.
While Whitestone Companies is known for its expertise in value-added projects, it is also recognized for taking on hotels in unique locations and enriching the guest experience. The addition of these five properties will continue in that tradition by providing a glimpse into many fantastic one-of-a-kind experiences. From viewing the beauty of the famous Pikes Peak out a window of the Hilton Garden Inn to feeling history flooding your senses as you walk the campus of Princeton University. From grooving to tunes at the Rock and Roll Hall of Fame in Cleveland to soaking up the ocean breeze on beaches stretching as far as you can see in West Palm Beach. Each of these hotels are only moments from the next amazing memory.
The Whitestone Companies portfolio consists of assets in nine states, which include hotels, multi-family units, and corporate office space.