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AWH Partners Acquires Kimpton Goodland Goleta Hotel Near Santa Barbara, California

Posted on: January 20th, 2022

158-room hotel to be fully rebranded and managed by AWH affiliate Spire Hospitality

Transaction represented AWH’s fifth acquisition in 2021; combined total purchase price of over $240 million


AWH leveraging integrated data technology to drive investment program


NEW YORK, NY  – January 20, 2022AWH Partners, LLC (“AWH Partners” or “AWH”), a vertically integrated real estate investment, development, and management firm, today announced that it has acquired the Kimpton Goodland Goleta (the “Goodland” or the “Hotel”), a 158-room hotel near Santa Barbara, California. Parties in the Hotel’s capital structure approached AWH for assistance in resolving challenges stemming from COVID-19. AWH executed a transaction that avoided a public process and effectuated a smooth transition for all parties. AWH’s wholly-owned hotel management company, Spire Hospitality, is currently transitioning management of the Goodland Goleta and has begun a rebranding process of the hotel. Terms of the transaction were not disclosed. 

The acquisition of the Goodland Goleta represented AWH’s fifth deal in 2021, all of which are located on the West Coast in robust, long-term growth markets with significant regional leisure demand. The five acquisitions total over $240 million in purchase price, with over $100 million of total equity invested and $30 million in renovations planned. In addition to the Goodland, AWH, in partnership with best-in-class institutional investors, acquired the following hotels in 2021: 

“AWH is thrilled to diversify our expanding portfolio of attractive hotel properties and deepen our exposure to high-growth West Coast markets with the addition of the Goodland Goleta hotel, another asset acquired at an extremely attractive basis we would never have been able to achieve pre-pandemic,” said Russell Flicker, co-founder and managing partner of AWH Partners. “With minimal new supply, a general lack of available sites and costly land prices, the Santa Barbara market has high barriers to entry, and we are pleased to have found this attractive opportunity, which was never offered to the public on the same terms. We look forward to renovating the lifestyle hotel and welcoming guests to this highly accessible leisure destination.”

Chad Cooley, co-founder and managing partner of AWH Partners, added, “Since the onset of the COVID-19 pandemic, we made an intense effort to stabilize our portfolio so that we could focus our attention on what we do best – investing in complicated, distressed and unique hospitality assets. We made a substantial financial commitment to keep our leadership team together and incentivized, and we poured resources into technology and data to super-charge our acquisition efforts in 2021. Looking back, our investment activity speaks for itself, and we are thrilled with how we are positioned heading into 2022.”

“AWH was formed amid the global financial crisis, with much of our initial portfolio acquired out of severe distress,” said Jon Rosenfeld, co-founder and managing partner of AWH Partners. “As we continue to navigate the economic challenges brought on by the pandemic, we are in a unique position to leverage our deep experience across market cycles to continue identifying, executing and creating value for attractive investment opportunities in the U.S. lodging space as the industry rebounds and demand across channels accelerates. While many anticipated a quick deluge of opportunities to materialize early in the pandemic, we now know there will be interesting pockets of opportunities for at least the next 24 months in our space.” (more…)

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AWH Partners, The Roxborough Group Acquire San Francisco’s Historic Villa Florence

Posted on: September 13th, 2021

NEW YORK — September 13, 2021  An affiliate of AWH Partners, LLC and The Roxborough Group, LLC has acquired the Villa Florence Hotel and retail in San Francisco for $87.5 million. The partnership plans a full repositioning of the property, including a renovation of all 189 guestrooms as well as the lobby and ground floor restaurant. The hotel also includes over 10,000 square feet of valuable retail along Powell and O’Farrell Streets.  Spire Hospitality has taken over management of the property. 

“We had to move quickly in order to buy this hotel outside of a traditional marketing process” said Chad Cooley, co-founder and managing partner of AWH Partners. “We are extremely pleased to have the opportunity to partner again with The Roxborough Group, a San Francisco based real estate private equity firm. Together, AWH Partners and The Roxborough Group brought industry-leading expertise to the sourcing, structuring, and execution of this hospitality and high street retail investment.”  

First opened in 1915, the 189-key property is less than one block from Union Square, the heart of San Francisco’s shopping and tourism district, and is one of the best located hotels in the city of San Francisco. Each guestroom has a 55-inch LCD television with premium movie channels, a mini refrigerator, ample workspace, a personal electronic safe, and plush pillows and linens. The property has three meeting rooms, totaling 1,400 square feet of meeting space, a business center, a fitness center, valet parking, and a lobby bar. The renovations to the property are slated for completion by the end of 2022.

“The opportunity to acquire an exceptionally well-located and historically high-performing hotel, in an irreplaceable location and reposition it as San Francisco recovers from the pandemic is very exciting,” said Marc Perrin, managing partner of The Roxborough Group. “This investment is a great opportunity to expand our partnership with AWH, with the potential for significant upside in repositioning both the hotel and what has historically been very successful street-front retail.”

Situated along the Powell Street Cable Car Line, Villa Florence is within walking distance of major tourism destinations including Union Square, Chinatown, and the San Francisco Museum of Modern Art (SFMOMA) and is also proximate to a range of restaurants, bars, lounges, breweries and distilleries.  The hotel’s location, blocks from the Financial District and Moscone Convention Center, is also convenient for business travelers. 

“San Francisco, a city with extremely high barriers to entry and very low supply growth, has historically proven an exceptional market in which to invest.  We felt now, during a period of transition, was an ideal time to get into the market” said Jon Rosenfeld, co-founder and managing partner of AWH. “The asset has performed well historically and we expect it to do the same in the future.” 


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AWH Partners and Funds Managed by Apollo Global Management Acquire DoubleTree by Hilton Hotel Anaheim – Orange County

Posted on: June 29th, 2021

NEW YORK (June 29, 2021)AWH Partners, LLC and funds managed by a subsidiary of Apollo Global Management, Inc. (NYSE:APO) have acquired DoubleTree by Hilton Hotel Anaheim – Orange County. As a result of the deal, Spire Hospitality has taken over management of the property from Hilton Worldwide Holdings Inc. The financial terms of the transaction were not disclosed.

“This acquisition, which took almost 12 months from agreement to closing and included assuming existing debt, required discipline and focus through much of the pandemic,” said Russell Flicker, co-founder and managing partner of AWH Partners. “The property’s adjacency to prominent travel destinations and the Anaheim Convention Center, one of the market’s largest demand engines, positions DoubleTree by Hilton Hotel Anaheim – Orange County for success. We expect this property to outperform its competitors as we complete a fulsome renovation and corporate demand in the city resumes.”

The 461-key property has a fitness center, room services, a business center, an outdoor pool, and a tennis court. There are several dining options on the property, including 1Hundred, a lobby bar with big screen sports entertainment; KoffeeKITCHEN, an urban kitchen serving locally-sourced produce and Starbucks coffee; and Trofi Restaurant & Bar, which serves fine California cuisine.

DoubleTree by Hilton Hotel Anaheim – Orange County has 31,982 square feet of indoor and outdoor event space across two floors and 20 meeting rooms in total.

Adjacent to the UCI Medical Center, the property is in proximity to Angel Stadium of Anaheim, Disneyland / Disneyland California Adventure, and the Anaheim Convention Center.

“Anaheim is a year-round destination for leisure, corporate, medical, convention, and group travel, with a robust economy,” said Dan Kwon, Real Estate Private Equity Partner at Apollo. “This is a centrally located property in a high-growth submarket, with proximate demand drivers and ongoing development.”

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Roxborough Group, AWH Partners and West Point Partners Acquire Hilton Garden Inn Portland/Lake Oswego

Posted on: February 9th, 2021

NEW YORK — February 9, 2021 — The Roxborough Group, LLC, AWH Partners, LLC, and West Point Partners have acquired the Hilton Garden Inn Portland/Lake Oswego. This marks the first hotel acquisition each company has closed since the beginning of the COVID-19 pandemic. The financial terms of the transaction were not disclosed.

“This deal demonstrates our ability to find attractive investment opportunities despite the challenging deal environment,” said Chad Cooley, co-founder and managing partner of AWH Partners. “With our team in place, we believe the Hilton Garden Inn Portland/Lake Oswego is well positioned to quickly rebound from the pandemic. It has a lot to offer for both leisure and business travelers visiting the Portland area.”

Adjacent to the intersection of Interstate 5 and Highway 217, the busiest intersection in Oregon, the 179-room Hilton Garden Inn Portland/Lake Oswego is within walking distance of a wide range of restaurants; in proximity to Bridgeport Village, an outdoor shopping complex known for its array of exclusive restaurants and boutiques, and Kruse Woods Corporate Park, a 20-building office campus located in Lake Oswego; and a 10-minute drive from Downtown Portland.

“One of the main reasons for investing in this property is its premier positioning in a great submarket,” said Marc Perrin, managing partner of The Roxborough Group. “Lake Oswego is an increasingly attractive alternative to Downtown Portland, and this hotel with its recent rooms renovation is the top performing asset in the submarket.”

Hilton Garden Inn Portland/Lake Oswego’s amenities include complimentary WiFi, an indoor pool, a fitness center, pet-friendly rooms, a business center, free parking and more. The property has nearly 1,225 square feet of event space. There’s also an on-site restaurant, The Garden Grille & Bar.

The partnership has additional plans to renovate the property over the next several years, including upgrades to the lobby and public spaces, as well as a new fitness center.

“We are excited to partner with AWH and Roxborough in the acquisition of the hotel,” said Sri Sambamurthy, managing principal of West Point Partners. “The combination of an industry-leading brand in an infill submarket with strong demand drivers positions the hotel well for the recovery.”


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AWH Partners Invest in DoubleTree by Hilton Nashville Downtown

Posted on: January 17th, 2020

Investors Select Hotel as Ideal Entry Point into Rapidly Growing Southeastern Market

NEW YORK (Jan. 17, 2020) – AWH Partners, LLC, a privately held real estate investment, development and management firm, announces today an investment into the DoubleTree by Hilton Nashville Downtown, a strategically planned investment in the alluring market. Conveniently located in the epicenter of Downtown Nashville, the newly renovated, 341-room hotel offers ideal access to Music City’s impressive list of corporate and leisure demand generators. Newmark Knight Frank (NKF) brokered the sale and financing of the acquisition for the purchaser, an affiliate of The Inland Real Estate Group of Companies, Inc. (Inland), and Spire Hospitality, AWH’s full-service hospitality management company, is now managing the DoubleTree by Hilton Nashville Downtown for Inland’s affiliate.

“We have been diligently watching Nashville for a fitting investment for some time,” says Jon Rosenfeld, co-founder and managing partner, AWH Partners. “Our team invested substantial time understanding the healthy pace of demand growth while also watching the recent, substantial supply growth in the destination. This vast hotel – fresh from a 2019 renovation and poised in the heart of the city – is an ideal investment for our portfolio, providing a great opportunity for current returns over a long-term hold. Additionally, as the DoubleTree by Hilton brand is known for its consistent and comfortable hotel experience, we’re eager to continue embracing guests in warmth and welcome.”

As the third largest city in the Southeast, Nashville has emerged in the past few years as one of the most dynamic, accessible and affordable cities in the United States. Cultural diversity, a variety of strong industries and a thriving creative community make Nashville among the nation’s best cities for relocating, expanding and starting companies. Due to its low cost of living, no income tax and central location, Nashville has been able to attract numerous domestic and international corporations with top-tier talent.

“The corporate activity development in Nashville is remarkable,” said Chad Cooley, co-founder and managing partner, AWH Partners. “Amazon is opening its 5,000-person Operations Center of Excellence in downtown in 2021; Philips added more than 1,000 jobs in the past year at Philips Plaza, which is adjacent to our hotel; while Smile Direct Club moved to the same building, also bringing thousands of jobs. Alliance Bernstein moved its headquarters from New York City, bringing over 1,000 jobs, the vast majority of which will be above Nashville’s existing median annual wage. This hotel is poised to benefit from this corporate growth, coupled with the alluring leisure draw of the downtown destination.”

DoubleTree by Hilton Downtown Nashville is steps from Ryman Auditorium and countless bars and restaurants on Broadway, as well as a short drive from Nissan Stadium, Bridgestone Arena, Tennessee State Museum and the Tennessee State Capitol. An early 2019, multi-million-dollar renovation of the hotel introduced a fresh, modern and approachable guest room design. Culinary offerings include the Fourth & U Restaurant and Bar, in addition to the seasonally popular Patio 315, which boasts live music, lawn games, firepits and a movie-size projection screen. Alongside 20,000 square feet of flexible meetings and events space, additional property offerings include an indoor pool, Starbucks, fitness center and valet parking.

For additional information on DoubleTree by Hilton Nashville Downtown, or to make a reservation, visit the hotel’s website or call +1-615-244-8200. For the latest news from DoubleTree by Hilton, visit newsroom.hilton.com/doubletree.


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Embassy Suites Laredo Acquired by AWH Partners

Posted on: October 3rd, 2019

Investors Purchase Only Full-Service, Branded Hotel in Established Texas Border Market

NEW YORK (Oct. 3, 2019)AWH Partners, LLC, a privately held real estate investment, development and management firm, announces today the purchase of Embassy Suites by Hilton Laredo, a strategic acquisition for the company already well-versed in the ownership, renovation and operation of Embassy Suites by Hilton hotels. Located in downtown Laredo – the largest port along the United States-Mexico border – the 154-suite property is the only full-service, branded hotel in the market. Spire Hospitality, AWH’s full-service hospitality management company, is now managing the Embassy Suites Laredo and will begin implementing core strategies and procedures to grow operating revenues and profit margins.

“Our ownership and management team bring a strategic advantage in the ownership and operation of Embassy Suites hotels,” says Jonathan Rosenfeld, co-founder and managing partner, AWH Partners. “Our team acquired a portfolio of eight, distressed Embassy Suites across the nation, executing multi-million-dollar renovations and replacing management at each. The result included cost-savings initiatives and created significantly stronger value of each of the hotels in the portfolio. Our deep knowledge of the Embassy Suites brand from that extensive project, as well as from others, allows great opportunity for AWH and Spire Hospitality at Embassy Suites Laredo.”

Poised as a market leader in historic downtown Laredo, the hotel features notable Embassy Suites benefits of two-room suites and complimentary made-to-order breakfasts and evening receptions. Centrally located three miles from Laredo International Airport and a short drive from the Mexico border, the property offers 4,000 square-feet of flexible meeting and ballroom space, an executive boardroom, indoor pool and fitness center. The Mall Del Norte, with over 160 stores, and Lake Casa Blanca International State Park are in close proximity, while the Laredo Energy Arena housing up to 10,000 people for annual concerts and events is also a short distance from Embassy Suites Laredo.

“Laredo has a strong, stable economic base, with continued opportunity for growth,” says Russ Flicker, co-founder and managing partner, AWH Partners. “The inland port processed more than half of all land trade in Texas last year, while the destination is also popular for weekend travelers from Mexico. In addition, the hotel demand continues to expand with a full-service convention center set to open in Laredo in 2020.”


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AWH Continues to Expand Portfolio – Now Recognized as 15th Largest Owner in Nation

Posted on: October 2nd, 2019

NEW YORK (Oct. 2, 2019) – AWH Partners, LLC, a privately held real estate investment, development and management firm, proudly announces its ranking as the 15th largest hotel owner/development firm in the United States, as identified by the Hotel Business® 2019 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.

“AWH is one of a small number of hotel owners/operators that are investors first,” says Russ Flicker, co-founder and managing partner of AWH Partners, LLC. “We are trying to build a business that will be around for 100 years,” he continued. “In just a few months, we will mark our 10-year anniversary, and while we are excited about what we have built and the direction of the company, we know we need to continue to push to stay on top of technology and market changes. Being successful last year is no guarantee of success next year, so we are focused on delivering for our investors and we are confident that will lead to our success.”

Hotel Business is a widely read online publication with an audience of hotel owners, general managers and financial executives.


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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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DoubleTree By Hilton Albuquerque Purchased By AWH Partners

Posted on: August 9th, 2019

Investors Acquire Newly-Renovated Hotel in Emergent New Mexican Market

NEW YORK (Aug. 8, 2019)AWH Partners, LLC, a privately held real estate investment, development and management firm, announces the acquisition of DoubleTree by Hilton Albuquerque, marking more than a dozen Hiltons and over 1,500 DoubleTree keys acquired across the United States – and the first hotel purchased in the growing New Mexico market – for the investment firm. Located in the heart of Albuquerque’s Central Business District, the newly-renovated DoubleTree is the only hotel directly connected to the 300,000 square-foot Albuquerque Convention Center, giving the property a strategic competitive advantage over other full-service hotels in the area. Spire Hospitality, AWH’s full-service hospitality management company, is now managing the 295-room DoubleTree Albuquerque and will begin implementing core strategies, leveraging the ownership and management companies’ breadth of experience with the brand to grow operating revenues and profit margins.

“DoubleTree Albuquerque completed a multi-million-dollar renovation in 2018, including all guestrooms, public spaces and meeting rooms, and offers exclusive access to the Albuquerque Convention Center, which also recently completed a $23M+ restoration,” says Russ Flicker, principal of AWH Partners. “The product and its location, coupled with the robust market growth, a healthy convention calendar and the hotel’s proximity to tourism hot spots in Albuquerque, indicate we will continue seeing the significant upward momentum this property has seen since its renovation.”

Poised in the heart of downtown, DoubleTree by Hilton Albuquerque’s contemporary design features nuances of the Southwest with enviable views of the Sandia Mountains beyond the metropolitan location. The urban, full-service Hilton provides 8,100 square-feet of flexible meeting and ballroom space, along with direct, underground access to the expansive Albuquerque Convention Center. Icon Bistro invites guests for New Mexican-inspired breakfast classics, while the menu at Lounge 201 serves up lunch and dinner options in a modern, relaxed setting perfect for gatherings with friends, families and colleagues.

“Market research shows Albuquerque growing at a rapid rate, with an increasing concentration of high-tech companies moving to the destination, including a new 300-acre Facebook campus and a new Netflix production hub. More than 3,100 new high-tech related jobs have been added to the area in the last 18 months,” says Chad Cooley, principal, AWH Partners. “This economic development and the draw of the beautiful locale is driving significant hotel demand. We’re thrilled to establish AWH Partners presence in this alluring destination.”


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AWH Partners Purchases Renowned, 100-Acre Topnotch Resort and Spa in Stowe, Vermont

Posted on: January 25th, 2019

Investors Identify Strong Growth Opportunity, Following Vail Resorts to Destination

NEW YORK (Jan. 22, 2019) AWH Partners, LLC, a privately held real estate investment, development and management firm, announces the acquisition of the celebrated Topnotch Resort and Spa establishing the ownership group’s presence in the emerging ‘East Coast Capital of Skiing.’ Spire Hospitality, AWH’s full-service hospitality management company, is now managing the resort and will immediately implement its repositioning strategy, leveraging Spire’s experience at AWH’s similarly-situated High Peaks Resort (Lake Placid, NY) to drive stronger operating revenues and profit margins.

“With Vail Resorts now running the Stowe Mountain skiing operations and bringing both the industry-leading Epic Pass and Vail’s vast resources to the destination, we see great potential in this notable resort in a growing market,” says Chad Cooley, principal of AWH Partners. “Topnotch Resort fits perfectly with the AWH strategy to purchase underperforming holdings situated on desirable land with multiple avenues for adding immediate and long-term value.”

Set within 100 acres of woodland at the foot of Mount Mansfield in Stowe, VT, Topnotch Resort and Spa blends the charm of a quintessential ski lodge with the luxurious amenities of a world-class resort. A consistent Condé Nast Traveler ‘Readers’ Choice Award’ recipient and  U.S. News & World Report’s ‘Best Hotel in Vermont of 2017,’ the property offers 68 guestrooms; the acclaimed 35,000 square-foot Topnotch Spa; 9,000 square feet of meeting and event space; two local favorite, full-service restaurants – The Roost and Flannel; a premier Tennis Center with four indoor and six outdoor courts; a state-of-the-art Fitness Center; and an indoor pool, a whirlpool/Jacuzzi and two outdoor pools with mountain views.

With appreciation for the stunning natural setting and beautiful vistas at Topnotch, AWH Partners will begin exploring expansion and redevelopment opportunities of the AAA Four-Diamond property. “In addition to our immediate strategy of repositioning Topnotch’s operations, in the long-term analysis of this acquisition, we see substantial opportunity in leveraging the property’s vast and dramatically underutilized acreage for sustainably and respectfully improving the resort’s renowned facilities.  Towards that end, we have brought on board local Vermont resident and experienced real estate executive Mark D’Angelo, and look forward to working collaboratively with our neighbors, the Town of Stowe, and the State of Vermont on any future plans,” says Jon Rosenfeld, principal, AWH Partners.


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