Davidson Hotels & Resorts Adds Management of Hyatt Regency Cincinnati to Portfolio
January 21, 2016 10:49am
The Hyatt Regency Cincinnati was Acquired by a partnership of H.I.G. Realty Partners, Silverpeak Real Estate Partners and Davidson Investment Group
ATLANTA, Ga. – January 21, 2016 – Davidson Hotels & Resorts – the nation’s leading hotel management company for delivering hospitality and creating value – announces the addition of Hyatt Regency Cincinnati to its lineup of Hyatt branded hotels. This addition enhances Davidson’s position as the largest third party operator of full-service Hyatt hotels in the industry, encompassing seven Hyatt properties and nearly 2,800 rooms.
The 491-room hotel was acquired by a partnership of H.I.G. Realty Partners, Silverpeak Real Estate Partners and Davidson Investment Group, and is the second acquisition for this partnership, following the 499-room Hyatt Regency Indianapolis last year.
Perched in the heart of downtown, Hyatt Regency Cincinnati sits across the street from the Convention Center, proximate to some of Cincinnati’s largest employers and a short walk to Over-the-Rhine (OTR), The Banks and the riverfront sports complex, home to the Cincinnati Bengals and Cincinnati Reds stadiums. The property boasts over 40,000 square feet of meeting space, as well as The Red Roost Tavern, a fitness facility and indoor pool. Hyatt Regency Cincinnati is closely aligned with the local community and the Cincinnati USA Convention & Visitors Bureau in delivering world-class hospitality and showcasing one of the top destinations in the country.
“After spending the year focusing on delivering a great bottom line for our owners and uncovering new and exciting opportunities, Davidson is heading into 2016 with tremendous momentum,” said John Belden, president and chief executive officer of Davidson Hotels & Resorts. “Adding Hyatt Regency Cincinnati to the Davidson family further solidifies our position as a top operator of Hyatt hotels, and is the first of many strategic growth announcements this year.”
“Amassing one of the purest full-service portfolios in the industry, Davidson is a proven operator of branded and lifestyle hotels in the upper-upscale and luxury segments”, noted Steve Margol, Davidson’s chief investment officer. “By consistently delivering outsized returns, Davidson has become a highly trusted partner for top-tier groups like H.I.G., Silverpeak and other institutional investors throughout the industry.”
“Davidson is an operator in a class by themselves”, said Ira Weidhorn, managing director at H.I.G. Realty Partners. “Not only do they create great value in our assets, but they conduct themselves with great integrity, both at the property level and in the boardroom. They truly care about their performance, as well as the way in which they represent us.”
For more information about Davidson Hotels & Resorts, visit www.davidsonhotels.com.
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hyatt regency cincinnati
Davidson Hotels & Resorts is an award-winning, full-service hotel management company providing management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry. Amassing one of the purest full-service hotel portfolios in the industry, Davidson’s proficiency ranges from the upper-upscale to near-luxury segments including 39 hotels, nearly 12,300 rooms and 1.4 million square feet of meeting space across the United States. A trusted partner and preferred operator Marriott, Hilton, Hyatt and Starwood hotels, Davidson delivers hospitality and creates value for owners with every single hotel. More information can be found at www.davidsonhotels.com.
H.I.G. Realty Partners is the real estate platform of H.I.G. Capital, managing $1.3 billion in opportunistic investments in small-to-mid cap real estate assets across property types located in the U.S. and Europe. In the U.S., H.I.G. Realty Partners manages approximately $850 million of equity capital across the asset class spectrum. H.I.G. Realty Partners targets the acquisition of value-add investments, employing a hands-on, operationally focused approach that seeks to generate substantial cash flow and asset appreciation through rehabilitating, redeveloping, repositioning and rebranding assets that have been capital starved and/or poorly managed.
H.I.G. is a leading global private equity and alternative assets investment firm with $19 billion of equity capital under management (based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.). Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
1) H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2) H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3) H.I.G.’s real estate funds invest in equity and debt opportunities across property types and geographies.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
Silverpeak Real Estate Partners is a full-service, diversified real estate investment business with over $11 billion of gross real estate assets under management. Silverpeak acquires and manages real estate on behalf of commingled funds, separate accounts and for its own account. Since 2010, Silverpeak, together with its operating and capital partners, has invested in more than 100 transactions aggregating over $6 billion of gross real estate assets in the US. The Firm has invested in office, retail, multifamily, hotel and other asset classes. Silverpeak’s equity investment business is complemented by Silverpeak Real Estate Finance, a commercial real estate lending platform, in partnership with Elliott Management Corporation.
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