The recently acquired 28 hotel portfolio of Highland Hospitality will be undergoing a capital improvement program that translates into major opportunities for new F/F/E purchases.
During the next 10 months, new owner Ashford Hospitality Trust intends to invest approximately $43 million in a capital improvement program to upgrade 17 of the hotels in the portfolio. This program will be funded through existing and on-going reserves at the property level together with the $32 million set aside for owner funded capital improvements.
Here are the 17 hotels slated for improvements:
Ritz-Carlton Atlanta
Hilton Boston Back Bay
Hyatt Regency Windwatch (NY)
Plaza San Antonio Marriot
DFW Airport Marriot (Dallas)
Omaha Marriot
The Churchill (Washington DC)
The Melrose (Washington DC)
Crowne Plaza Ravinia (Atlanta)
Courtyard Boston Tremont
Courtyard Denver Airport
Courtyard Savannah, GA
Silversmith (Chicago)
In conceptual design phase currently.
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