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AIMBRIDGE HOSPITALITY CONVERTS TWO KEY ASSETS TO DOUBLETREE HOTEL BRAND
Former Wyndham Garden Hotel Properties in Charlotte, North Carolina and Schaumburg, Illinois, Reflagged as Doubletree Hotel
DALLAS (October 24, 2006) – Aimbridge Hospitality, a hotel real estate and management company and Crow Holdings, a privately-held investment firm, proudly announced that effective immediately, the Wyndham Garden Hotel® in Charlotte, N.C. and the Wyndham Garden Hotel in Schaumburg, Ill. have been renovated, re-branded and repositioned to the Doubletree Hotel® Charlotte Airport and the Doubletree Hotel® Chicago/Schaumburg. Crow Holdings, the Dallas-based firm that specializes in real estate investments on behalf of the Trammell Crow family and its investment partners, purchased the Charlotte and Schaumburg hotels more than three years ago, as part of a portfolio of eight hotels. Both hotel properties were part of Aimbridge’s original management portfolio when the company began over three years ago and continues its goal of renovating, re-branding and repositioning assets with leading hotel brands in the country. With the announcement of the Charlotte and Schaumburg Doubletree conversions, Aimbridge Hospitality now manages seven properties within the Hilton Family of Hotels.
“Collaborating once again with Aimbridge further strengthens our brand of consumer marketability,” said Dave Horton, Senior Vice President – Brand Management for Doubletree Hotels. “Guests who stay at both Doubletree Hotel Charlotte Airport and Doubletree Hotel Chicago/Schaumburg are sure to experience the same quality customer service they have come to expect at our other hotels.”
The Doubletree Hotel Charlotte Airport is situated 15 minutes from the heart of the city and 12 miles from Charlotte Convention Center. The hotel’s convenient five mile proximity from the Charlotte Douglas International Airport allows guests the opportunity to take advantage of free airport shuttles. The Doubletree Charlotte Airport recently completed renovations, including upgrades to its 173 guest rooms and six king sized suites. Perfect for business and leisure travelers alike, this newly transitioned property offers the complete Doubletree Hotel package, with amenities such as a 24-hour business center, over 2,000 square feet of meeting and banquet space, high-speed wireless internet access in each room, Sweet Dreams® bedding experience, flat panel televisions, a fitness center and pool.
Nestled in one of Chicago’s suburban communities, the Doubletree Hotel Chicago/Schaumburg is located 18 miles northwest of O’Hare International Airport and a short commute to Downtown Chicago’s bustling financial and entertainment district. Renovations totaling more than $3 million were conducted in 188 spacious, guest rooms and meeting space facilities. The Doubletree Chicago/Schaumburg is within walking distance to Woodfield Mall and is nearby to numerous restaurants and Zurich, Motorola and IBM office headquarters. Quality and convenience awaits guests, featuring deluxe accommodations and amenities such as a complimentary 24-hour business center with wireless printing capabilities in each guest room, an indoor swimming pool and exercise room and the Garden Café, which serves casual American fare during breakfast, lunch and dinner.
The hotel offers comfort and convenience amenities such as the Sweet Dreams® by Doubletree Sleep Experience and complimentary high speed internet access in each room, 24-hour business center with wireless printing capabilities, and an indoor heated pool accompanied with a large hot tub and fitness center.
Members of the highly popular Hilton HHonors guest reward program also may earn hotel points and airline miles for every qualifying stay at the Doubletree Hotel Charlotte Airport and Doubletree Hotel Chicago/Schaumburg. Hilton HHonors is the only hotel program that allows any of its members to reap Double Dip earnings by simultaneously accumulating both airline miles and hotel points with each qualifying stay at more than 2,800 hotels worldwide.
“Aimbridge Hospitality has an established track record of excellence,” said Anne Raymond, a managing director for Crow Holdings. “We will continually join forces with strong management teams that share our commitment to provide excellent value and strong returns,” Raymond added.
“We feel in order to be successful in this growing industry, as well as benefit our investors, we must surround ourselves with masterminds that will propel us towards a common goal,” said Dave Johnson, Chief Executive Officer of Aimbridge Hospitality. “Teaming up with firms such as Crow Holdings and Doubletree Hotels, has allowed us to become widely recognized as a resource for future hotel real estate acquisitions. Once again by deploying our renovate, re-brand and reposition development strategy, we will provide superior returns to our investors.”
About Crow Holdings
Crow Holdings is a privately-held firm based in Dallas, Texas that specializes in making real estate investments on behalf of the Trammell Crow family and its investment partners. Crow Holdings is actively investing Crow Holdings Realty Partners IV, L.P. (“Fund IV”), which held its final closing in April 2006. Fund IV has total capital commitments of approximately $850 million, including Crow Holdings’ commitment of $150 million. This equity will be leveraged to acquire more than $2.8 billion in properties. Consistent with prior funds, Fund IV will invest across all property types throughout the United States. The company’s holdings also include significant, diversified positions in financial investments. For more information on Crow Holdings, please visit www.crowholdings.com.
About Aimbridge Hospitality
Aimbridge Hospitality is a hotel real estate and management company created to identify investment opportunities throughout the United States. Aimbridge provides management, asset management, capital renovation, supervision, accounting and consulting services for its strategic partners. Aimbridge currently operates hotel properties in the Doubletree, Wyndham and Hilton Garden Inn Brands. Aimbridge also manages a number of independent hotels, including the Phoenix Inn & Suites brand of hotels and has several projects under development in the Starwood, Marriott and Hilton Family of Brands. Aimbridge’s current portfolio extends over 11 states. For more information on Aimbridge Hospitality, please visit the company’s Web site at www.aimbridgehospitality.com.