Real Hospitality Group and Aspect Investment Partners Ltd. last week announced the acquisition of four hotels to their growing portfolio. This purchase represents the expanding of their hotel ownership and management to three new markets including Nashville, Phoenix and Denver.
The four hotels include the Hilton Garden Inn and the Hampton Inn in Nashville Smyrna Tennessee, the Hyatt Place Phoenix North and the Aloft Broomfield Denver. The portfolio consists of 461 rooms and will be managed by RHG. With the acquisition of this portfolio, Real Hospitality Group increases their portfolio of owned and managed assets to 105 hotels in 16 states.
Ben Seidel, President and Chief Executive Officer of Real Hospitality Group, said, "We are excited about our partnership with Aspect and believe that these four properties in these key locations are aligned with our strategic growth plan to acquire institutional grade hotel properties in dynamic markets as we continue to expand our footprint across the country."
The current joint venture represents part of Aspect's third hospitality investment platform. Aspect, through its three platforms, owns 19 hotels in 16 cities.
Mohamed Seif El Nasr Co-Founder and Managing Director of Aspect Investment Partners Ltd., said, "This deal marks a milestone in our firm's evolution as we expand our reach in the hospitality sector with well aligned and high-quality operating partners like RHG."
Ocean City, Maryland-based Real Hospitality Group (RHG), with offices in New York City and Ft. Lauderdale, is a full-service hotel management company. Real Hospitality Group has grown to become one of the top 16 U.S. hotel operating companies. RHG portfolio includes over 106 hotels open and in development in key markets and resort destinations.
The company is a recognized service provider for leading brands including Marriott International, Hilton Hotels & Resorts, Hyatt Hotels Corporation, InterContinental Hotels Group PLC, Choice Hotels International, Inc., Wyndham Hotels and Resorts and Red Lion Hotels Corporation as well as a growing portfolio of independent luxury boutique hotels including the MADE, the Boro Hotel and Hotel Americano in New York City and Ruschmeyers in Montauk, NY. RHG focuses on comprehensive development management services, revenue performance, guest experience and business development for hotels, resorts and investment ownership groups.