Keyword: Capstone Development
The operating company plans to grow at a controlled pace through development, acquisitions and selective third-party management.
The company has managed eight additional Capstone hotels for the past several years.
Host Hotels & Resorts is reportedly looking to sell a luxury Manhattan hotel to Capstone Equities and HEI Hotels & Resorts for $300,000 per key.
Slated to open in the third quarter of 2018, the mixed-use project will include a newly built 357-room Courtyard hotel and a 147-suite Residence Inn.