LOS ANGELES, Nov. 4, 2015 /PRNewswire/ -- Ethika Investments, LLC, a U.S.-based real estate private equity firm, has announced the allocation of $34.5 million for the complete property repositioning of four ideally located hospitality assets including the Hilton Garden Inn Philadelphia/Fort Washington, Hilton San Antonio Airport Hotel, Hunt Valley Inn in Baltimore, Maryland and Sheraton College Park North Hotel in metro Washington D.C.
Each hotel underwent a personalized renovation plan tailored to local market opportunities, with a reimagining and debut of fresh culinary concepts, the guest experience is at the heart of these repositionings. Ethika's affiliate real estate investment and development firm - Laurus Corporation - managed the acquisition and refresh of each property.
- The Hilton Garden Inn Philadelphia/Fort Washington experienced an award-winning repositioning featuring 146 purposefully refreshed guestrooms along with updates to the hotel's 3,350 square feet of meeting space and the adjacent spacious outdoor courtyard with ample seating areas and an outdoor fire pit. The hotel's new and inviting lobby features the brand's award-winning Project Grow concept.
- The Hilton San Antonio Airport Hotel unveiled a $12 million refresh, setting a new standard for travelers in the country's seventh most populated city. The repositioning included a complete revamp of all 384 guest rooms, featuring pristine furniture, decorative lighting, curated artwork, remodeled guest and public bathrooms and media hub connectivity. An emphasis was also placed on the hotel's public spaces, with the introduction of a new upscale culinary experience, the Asado Seafood & Grill restaurant and lounge, as well as a new lobby, concierge lounge, swimming pool, 21,000 square feet of meeting spaces, front desk and two executive levels with an executive lounge on the top floor.
- The iconic Hunt Valley Inn has been transformed into the perfect blend of modern and elegant, including a complete re-design of the famed Cinnamon Tree restaurant. All of the hotel's 392 guest rooms were entirely overhauled, and the property's 33,000 square feet of meeting and event spaces were refreshed as well, including the addition of an outdoor event lawn and new indoor and outdoor pre-function spaces. Enhancements to the hotel's high-speed wifi internet and a new executive lounge have made the property a favorite among business travelers visiting the more than 30 Fortune 500 companies with a presence in the market.
- The Sheraton College Park North Hotel debuted the Asado Brassier, a chic 60-seat restaurant featuring upscale international cuisine. Additional hotel upgrades include a comprehensive refresh to the hotel's 207 guestrooms, a remodeled club lounge, fitness center, an outdoor swimming pool with sundeck, concierge lounge, porte-cochere, and new exterior signage and landscaping.
"Ethika's capital allocations into the successful acquisitions in Philadelphia, San Antonio, Baltimore and Washington D.C. underscore our strategy of acquiring ideally located value-add assets in dynamic and flourishing markets around the US," said Andres Szita, Chairman & Co-Founder of Ethika Investments. "We pride ourselves on spotting attractive investment opportunities in regions driven by resilient industry sectors including financial services, energy, technology, health care and education that bolster all property types, including the hospitality sector."
The Ethika-funded hotel repositionings come at a time when multiple recent industry reports are highlighting the health of the hotel industry, including the Hotel Industry Leading (HIL) Indicator, which continued to rise in July and August 2015. According to PKF Hospitality Research, RevPAR growth will be encouraged by increases in occupancy and ADR through 2015, with increases in ADR driving forecasted growth through 2019, aligning positively with Ethika's recent allocations.
Ethika Investments is a real estate private equity firm formed to provide investors access to a unique platform by tactically investing in opportunistic real estate assets primarily in the United States. It is affiliated with Laurus Corporation, a real estate investment and development company that specializes in hotel & resorts, office buildings, multifamily and mixed-use properties.
SOURCE Ethika Investments, LLC