AWH Partners and funds managed by a subsidiary of Apollo Global Management have acquired DoubleTree by Hilton Hotel Anaheim - Orange County in California. As a result of the deal, Spire Hospitality has taken over management of the property from Hilton Worldwide Holdings. 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. The hotel also has 31,982 square feet of indoor and outdoor event space across two floors and 20 meeting rooms in total.
“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.”
Sherburne Inn
TPG Hotels, Resorts & Marinas has acquired the historic eight-room Sherburne Inn in Nantucket, Mass.
“The Sherburne Inn is a unique and truly historic property located in the heart of downtown Nantucket,” said Robert Leven, chief investment officer for TPG Hotels. “Opportunities to own and operate heirloom-quality, historic properties like The Sherburne Inn are extremely rare in Nantucket, and we feel privileged to be the new custodians of this tremendous property that has welcomed guests to the island for decades.”
The Sherburne Inn adds to the company's other properties on Nantucket, which are The Veranda House, The Regatta Inn, The Chapman House and Arbor Cottage, which collectively are known as the Nantucket Resort Collection.