Waterstone Resort & Marina: A DoubleTree Hotel - Boca Raton, FL

AWH Partners, Joy Construction Corporation and Maddd Equities Expand Into Boston Market With Purchase of Three Hotels

Posted on: December 11th, 2018

NEW YORK (December 10, 2018) – AWH Partners, LLC, Maddd Equities, LLC and Joy Construction Corporation announce the purchase of three Holiday Inn (NYSE: IHG) hotels in the Boston suburbs, Holiday Inn & Suites Boston-Peabody, Holiday Inn & Suites Marlborough and Holiday Inn Boston-Dedham Hotel and Conference Center in an off-market transaction. Spire Hospitality, AWH’s full-service hospitality management company, is now managing the properties. The group signed long-term franchise agreements with IHG and will begin extensive renovations to each of the hotels, including upgrades to the guest rooms, common areas and meeting space.

“The acquisition of these three Holiday Inns continues our approach of investing in value add hotel opportunities and substantially repositioning them physically and operationally,” says Jon Rosenfeld, principal of AWH Partners. “This purchase is exciting for us, as it is our first deal in the Boston area and expands our footprint into another major market.”

“We are very excited to be partnering with AWH on the acquisition of this portfolio in Boston” says Eli Weiss, principal of Joy Construction. “As one of the nation’s oldest and most successful cities, Boston is a dynamic market with both positive growth drivers and high barriers to entry. We look forward to the renovated and repositioned product, that we expect, will yield an attractive return on our investment.”
Located in activated urban infill and suburban locations surrounding Boston, one of the nations’ leading hotel markets, the Holiday Inn & Suites Boston-Peabody, Holiday Inn & Suites Marlborough and Holiday Inn Boston-Dedham Hotel and Conference Center together have a total of 555 guest rooms and 8,000 square feet of event and meeting space.
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AWH Partners, LLC and Opterra Capital, LLC Acquire 321-Room Cincinnati Marriott at RiverCenter

Posted on: December 3rd, 2018

NEW YORK (November 29, 2018) – AWH Partners, LLC and Opterra Capital, LLC announce today the acquisition of Cincinnati Marriott at RiverCenter making it the third Marriott Hotel, the iconic flagship of Marriott International, in their portfolio. Starting Nov. 9, Spire Hospitality began operation and management the hotel.

“As an uncommon opportunity to buy a Marriott-branded hotel with a strong history of consistent earnings in need of material renovation, buying the Cincinnati Marriott at RiverCenter fits directly in our strategy of identifying diversified, opportunistic investments,” says Russ Flicker, principal of AWH Partners. “Further, the hotel finished a comprehensive rooms renovation within days of our closing, leaving us the opportunity to renovate the public spaces while enjoying ramp up from the rooms.”

“We are proud to continue our long, positive track record with Marriott International,” says Glenn Alba, president of Opterra Capital. “The asset is well-positioned through its renovation to see increasing room night demand through a variety of opportunities. Now recognized as the tech capital of the Midwest, Cincinnati hosts a number of Fortune 500 companies, professional sports teams, major convention centers, a revitalized riverfront district and a major research university.”

Conveniently connected to the Northern Kentucky Convention Center, the recently renovated 14-story, 321-room Marriott at RiverCenter boasts 30 event rooms and 16 breakout rooms. Recently renovated guestrooms blend style and comfort while hotel guests enjoy a state-of-the-art fitness center with indoor lap pool and the signature restaurant, 10 West, offering beautiful views of the Ohio River and Downtown Cincinnati. Just a short walk across the historic Roebling Bridge is The Banks, with everything from great restaurants and live music to family-friendly events as well as Paul Brown Stadium and the Great American Ball Park.

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AWH Partners, LLC Hires Chris Russell to Lead Spire Hospitality

Posted on: June 11th, 2018

NEW YORK (May 15, 2018) – AWH Partners, LLC, a privately held real estate investment, development, and management firm, is pleased to announce the hiring of Chris Russell as chief executive officer of its hospitality management division, Spire Hospitality. Leveraging his experience driving performance and generating tremendous growth for top hotel management companies, Russell further positions AWH as a preferred partner for institutional investors in the hospitality business. As COO of Archon Hospitality (a Goldman Sachs company) and subsequently as CEO of Pillar Hotels and Resorts (the result of Archon’s spin off), Russell built a world-class operating platform and managed assets for the largest existing private equity firms and REITs. He is widely recognized as an industry expert in property management and value creation. With Russell as CEO of Spire, AWH will continue to grow its successful hospitality investment platform and expand its capabilities as a provider of hospitality services to institutional capital.

“Highly-accomplished and well known within the industry, Russell is an exceptional candidate poised to take our management division to the next level,” says Russ Flicker, co-founder and managing partner of AWH Partners. “His impressive experience in strategic planning and execution while maximizing asset value make him the perfect fit to raise the bar for Spire Hospitality as we build on our reputation as an industry leader.”

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AWH Partners, LLC Announces Timothy Osiecki as President of AWH Development

Posted on: January 12th, 2017

NEW YORK (Jan. 4, 2017) – AWH Partners, LLC, a privately held real estate investment, development and management firm, is pleased to announce the hiring of Timothy Osiecki as President of AWH Development, a new role at AWH. Osiecki will assume the day-to-day development responsibilities of the founding partners of AWH, enabling the company to deliver development services at an even higher level and freeing the partners to focus on the growth of the larger AWH platform. Taking the helm starting January 2017, Osiecki brings nearly 40 years of construction and development experience to AWH, including spending the last three decades developing high-quality, upscale select and full service hotels for award-winning Concord Hospitality.

“After an extensive nationwide search, we identified Tim as absolutely best-in-class to lead our hospitality development business,” says Chad Cooley, managing partner, AWH Partners, LLC. “His impressive experience in design, construction, major renovations, brand conversions and adaptive use projects make him the perfect fit to raise the bar in our Development division as we continue to grow AWH into an industry leader.” (more…)



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AWH Continues Impressive Growth – Now Recognized as 16th Largest Owner in Nation

Posted on: October 5th, 2016

NEW YORK (Oct. 6, 2016) – AWH Partners, LLC, a privately held real estate investment, development and management firm, proudly announces its ranking as the 16th largest hotel owner/development firm in the United States, as identified by the Hotel Business® 2016 Owners & Developers ranking, which profiles the top 100 largest owners and developers of hotels across the country. Rankings profiled in the online publication are based on total owned properties and open rooms.

“Our portfolio has grown to 6,695 rooms across 21 hotels in 14 states,” says Chad Cooley, cofounder and managing partner of AWH Partners, LLC. “Our strategy of identifying diversified, opportunistic investments in robust markets is evidenced in our recently acquired properties, catapulting AWH into the top rankings among ownership and development companies.”

Hotel Business is a widely read online publication with an audience of hotel owners, general managers and financial executives.
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AWH Rebrands Waterstone Resort a Curio by Hilton

Posted on: October 4th, 2016

BOCA RATON, Fla. and McLEAN, Va. (October 3, 2016)  Waterstone Resort & Marina – an upscale, art deco, waterfront resort hotel at the Lake Boca Inlet – is the latest addition to Curio – A Collection by HiltonTM, a global set of distinctive upscale and luxury hotels hand-picked for travelers seeking local discovery and authentic experiences.

The 11-story boutique hotel’s 139 guest rooms and suites offer private balconies with panoramic views of the Atlantic Ocean, Lake Boca or the Intracoastal Waterway. The breezy, sophisticated design is reflected throughout the property, brought to life through custom-made furnishings and fabrics, as well as dazzling artwork – especially the one-of-a-kind blend of water and stone gracing the walls of the contemporary lobby that gives the property its name.

A particularly distinguishing feature is the Waterstone Resort & Marina’s nearly 200 feet of boat docking facilities and promenade, the centerpiece for watersports, boating and sailing options as well as enchanting waterfront dining.
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AWH Partners, LLC Acquires 459-room Seattle Airport Marriott

Posted on: June 29th, 2016

NEW YORK (June 30, 2016) – AWH Partners, LLC, a privately held real estate investment, development and management firm, and joint venture partner, Starr Companies, a global insurance and investment organization, announce the closing and acquisition of the Seattle Airport Marriott from Host Hotels and Resorts. AWH Partners has engaged Spire Hospitality to operate the property, replacing long-time manager Marriott Hotels (NASDAQ: MAR). With the addition of this hotel, AWH Partners has acquired 21 hotels comprising 6,695 rooms since 2010.

“The acquisition of the institutional quality Seattle Airport Marriott is further evidence of our strategy identifying diversified, opportunistic investments in robust markets,” says Jon Rosenfeld, principal of AWH Partners. “We are making this investment at an attractive basis where we see real opportunity for driving value through both renovations and operations, in a market that has seen consistent growth of both leisure and commercial demand.” (more…)



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HOTELS MAGAZINE: IHG unveils dual-brand reno in Atlanta

Posted on: June 29th, 2016

HOTELS MAGAZINE

What’s Hot: IHG unveils dual-brand reno in Atlanta

By Brittany Farb Gruber on 6/29/2016

Spire Hospitality and IHG today announced the completion of the Crowne Plaza and Staybridge Suites Midtown Atlanta hotel renovation. The property marks the first dual-branded property for the two IHG brands. (more…)



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Venture Makes Bet on 1,004-Room Hotel In Orlando

Posted on: May 28th, 2015

Source:  Wall Street Journal 

A venture of two investment firms is making a contrarian bet on full-service hotels, acquiring a 1,004-room hotel in Orlando at a time when investors have been shying away from this segment of the market.

The venture of AWH Partners, of New York, and Building and Land Technology, of New Haven, paid  about $60 million for the DoubleTree by Hilton Orlando at Sea World, according to people familiar with the matter. The venture plans to spend another $30 million on renovations and adding about 30,000 square feet of meeting space.

Russ Flicker, a principal at AWH, says about two-thirds of the hotel’s business comes from leisure and other transient visitors, and about one third comes from group corporate business. “We’d like to see it the reverse,” he says.
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AWH Partners, LLC and Building and Land Technology Purchase DoubleTree by Hilton Orlando at Sea World

Posted on: May 28th, 2015

Partnership acquires 1,004-room Orlando resort in an off-market acquisition and plans renovations and meeting space expansion to add value

NEW YORK (May 28, 2015) – AWH Partners, LLC, a privately held real estate investment, development and management firm, in partnership with Building and Land Technology, a privately held, vertically integrated, real estate private equity, development and property management firm, announce today the off-market acquisition of the 1,004-room DoubleTree by Hilton Orlando at Sea World. This is the second hotel acquisition for the partnership following the acquisition of the 536-room Dallas Westin Park Central. The firms plan to add value through extensive renovations to guest rooms, meeting space, public areas and resort grounds, and will add approximately 30,000 square feet of upgraded facilities and premier ballroom space to enhance the hotel’s conference center. AWH Development will oversee the renovations and Spire Hospitality will manage operations under a franchise agreement with Hilton Worldwide (NYSE: HLT). (more…)



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