European Investment Firm Recognizes Value of a Hotel Asset Manager
Capital Hotel Management (CHM), a leading hotel asset management and investment advisory firm, today announced that it has been engaged by Losan Hotels World to asset manage the recently acquired Renaissance M Street Hotel in Washington, D.C.
'We are extremely pleased to expand our select client base to include European hotel investment firm, Losan Hotels World. Overseeing the Renaissance M Street Hotel represents an alignment of interests and expertise within our hotel investment and asset management portfolio, which currently includes high-profile properties in major U.S. destinations collectively valued at nearly $5 billion', said CHM President, Chad Crandell.
The recent acquisition of the Renaissance M Street Hotel represents the second U.S. hotel purchased by Madrid-based Losan Hotels World, as part of an international expansion strategy. Losan's current hotel portfolio includes 15 properties, representing 4 and 5-star hotels located in major international cities such as New York, Washington, D.C., London, Paris and Brussels, among others.
'As we continue to expand our investment in U.S. hotels, we believe there is significant value to having CHM as our hotel asset manager and local owner representative, actively engaged in our most significant oversees investment to date', explained Cristina Fernández Hoyo, Chief Strategy & Investment Officer for Losan Hotels.
Prior to Losan's acquisition, the 355-room hotel underwent a $25.2 million renovation and was converted to the Renaissance brand in April 2007.
'The key to success of this hotel will be leveraging market opportunities that now exist given the superior product quality and up-market brand. Optimal market positioning, particularly during the continued post-renovation ramp-up phase, combined with effective pricing and operational strategies will provide a solid platform for value enhancement. We are excited to work collaboratively with the experienced Renaissance management team and put our innovative and effective approach to deriving hotel value and optimizing investment returns to work on behalf of Losan', said Crandell.
The Renaissance M Street Hotel is situated at the intersection of M Street and New Hampshire Avenue, within DC's prestigious West End neighborhood, just blocks from the downtown commercial district and major attractions. True to the Renaissance brand, the hotel reflects a trendy, sophisticated design with state-of-the-art technological features available in both the guestrooms and public areas. Facilities include 355 stylish guestrooms, 14,000? square feet of meeting and function space, the eclectic M Bar restaurant and lounge and Italian-branded Illy coffee house, the only one of its kind operating in the U.S.. The Renaissance M Street Hotel also features the revolutionary 'lobby re-invented' concept, providing a unique space tailored to meet the needs of hotel guests and local patrons alike, offering distinct zones for relaxing, dining, working and socializing.
CHM is an SEC registered investment advisor, a Qualified Professional Asset Manager (QPAM) and the largest independent hotel asset management and investment advisory company operating in the U.S. today. CHM provides a full-range of acquisition and disposition expertise for its investors, as well as customized strategies proven to optimize asset/portfolio value and increase overall hotel investment returns. Today, CHM actively oversees hotel portfolio and single-asset investments representing more than 11,500 guestrooms, collectively valued at nearly $5.0 billion. Hotel investments are comprised of urban landmark properties, high-profile destination beach and golf resorts, and convention headquarter hotels operating in major markets across the U.S. and include such brands as Hilton, Hyatt, Marriott, Renaissance, Sheraton, The Luxury Collection, Westin and W Hotels. For more information visit our website (www.chmhotel.com) or contact CHM at (978) 522-7000.
Logos, product and company names mentioned are the property of their respective owners.
