Norwalk, CT – HEI Hotels & Resorts, one of the nation’s leading operators of institutionally owned full-service hotels with a portfolio of more than 100 properties across the United States, announced that it has assumed management of the 360-room Crowne Plaza Hotel and the 102-unit Staybridge Suites Hotel, a dual-branded hotel complex in Midtown Atlanta, Georgia. Owned by affiliates of Ramsfield Hospitality Finance and funds managed by AB CarVal, the hotels are located in the heart of Atlanta’s thriving Midtown district and just minutes from downtown, Georgia Tech University, Coca-Cola World Headquarters, Mercedes Benz Stadium, the Georgia World Congress Center, Hartsfield-Jackson International Airport, and the Buckhead Business District.
We are pleased to have HEI engaged as manager of these Midtown Atlanta assets and look forward to the next chapter for these strategically positioned hotels. Richard Mandel, President of Ramsfield Hospitality Finance
We are honored to grow our relationship with Ramsfield Hospitality Finance through these unique, dual-branded assets. HEI’s management platform and repositioning skills will help to establish the Crowne Plaza and Staybridge Suites hotels as premier, high-value lodging experiences for visitors to the Midtown Atlanta community, and we are excited to drive value on their behalf. HEI Hotels & Resorts CEO and Managing Partner, Anthony Rutledge
The Crowne Plaza provides an outdoor swimming pool, a fitness center, and 17 meeting rooms that comprise nearly 31,000 square feet of meeting and event space, including a 6,000-square-foot ballroom. The hotel’s food and beverage facilities include a restaurant, a lobby lounge, and a grab & go coffee shop. The Staybridge Suites provides 102 units. It shares recreational facilities and amenities with the Crowne Plaza and offers a complimentary continental breakfast. Renovations of the hotel’s meeting and banquet space are under way with completion anticipated in summer 2023.
About Ramsfield Hospitality Finance
Ramsfield Hospitality Finance is a hotel real estate owner, lender, and asset manager. Since 2003, RHF has made over $2.5 billion in debt and equity investments on hospitality assets. RHF’s expertise in opportunistically investing in assets across the entire capitalization stack enables it to identify, execute, and succeed through changing economic cycles while earning appropriate risk adjusted returns. Using the depth of its capital resources, market knowledge, and expertise, RHF creates versatile investment strategies that meet the needs of its partners and investors. For more information about RHF, visit www.ramsfieldrealestate.com.
About AB CarVal
AB CarVal is an established global alternative investment manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, AB CarVal’s team has navigated through ever-changing credit market cycles, opportunistically investing $143 billion in 5,680 transactions across 82 countries. Today, AB CarVal has approximately $16 billion* in assets under management in corporate securities, loan portfolios, structured credit and hard assets.
*AUM is comprised of fee-earning AUM and fee-eligible AUM. Fee-earning AUM includes those assets currently qualified to generate management fees. Fee-eligible AUM includes capital that is committed to an AB CarVal Fund but is currently uncalled or recallable. The number represented here excludes assets under AB CarVal’s management that are not generating management fees due to the maturity of the Fund.
About HEI Hotels & Resorts
HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates more than 100 luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States. HEI’s branding partners include Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. The company has ample equity capital and strategically co-invests with its partners on many transactions. To learn more about HEI, please visit www.heihotels.com.