Highline Hospitality Partners, the hospitality investment platform launched by Highline Real Estate Partners, has acquired the Homewood Suites by Hilton Eatontown, N.J. The 131-room, extended-stay hotel is HHP’s 11th property and is near the Jersey Shore beaches, major hospital systems, sports complexes and universities. The hotel is also near Fort Monmouth, a decommissioned army base that is in the process of undergoing a transformational redevelopment.
Highline Hospitality Partners' team has more than 60 years of combined experience across sourcing, purchasing, asset-management, renovating, repositioning and selling hospitality properties, and it has operated all classes of hotels.
“This acquisition represents our first acquisition in the state of New Jersey, and a further diversification of our portfolio with the addition of another extended-stay hotel which brings our total portfolio to 11 hotels comprising approximately 3,200 keys,” HHP Managing Partner Chuck Pomerantz said in a statement.
The Homewood Suites by Hilton Eatontown was developed in 2004 and features oversized guestrooms (all of which are suites and include a full kitchen and sleeper sofa), complimentary daily breakfast, an outdoor pool and patio area equipped with fire pits and a stone-enclosed grill station, multiple meeting rooms, an oversized fitness center equipped with Peloton equipment and ample on-site parking.
Highline Hospitality Partners selected Avion Hospitality as the hotel’s third-party manager. Founded in 2022 by Robert Burg, Avion’s managed portfolio encompasses 14 hotels with the Homewood Suites Eatontown, marking the inaugural partnership between Highline and Avion.