Press
Releases
Take a look at the press releases featuring Hotel Development Partners.
Hotel Development Partners is in the news! Browse the various press releases below to find out what we have been up to and who we have been working with.
cropped.jpg)
Marriott-branded hotel in Surfside sells for $70M
The Residence Inn by Marriott Miami Beach Surfside was sold for $69.9 million to a group from Wisconsin. HDP-TLD Partners, managed by Allen O’Brien as CEO of Atlanta-based Hotel Development Partners, sold the 175-room hotel at 9200 Collins Ave.
Read More
RESIDENCE INN BY MARRIOTT HOTEL OPENS IN JACKSONVILLE, FLA. NEAR MAYO CLINIC WITH UNIQUE SPECIAL CARE DESIGN
The 155-all suite Residence Inn by Marriott Jacksonville- Mayo Clinic Area hotel is now open. With its upscale, stylish décor and a unique wellness through hospitality environment, the Residence Inn by Marriott will operate as a Marriott franchise, owned by Atlanta-based Hotel Development Partners and managed by Concord Hospitality Enterprises.
Read More
Residence Inn by Marriott approved near Mayo Clinic
The city issued a permit Thursday for construction of a 155-room, seven-story Residence Inn by Marriott near Mayo Clinic at a cost of $21.5 million.
HUNTER HOTEL ADVISORS BROKERS SALE OF ATLANTA 6-PACK TO DRIFTWOOD
ATLANTA, December 3, 2018 – Hunter Hotel Advisors - the nation’s leading investment advisory firm focused exclusively on the hotel industry - announces today that six Atlanta, Georgia properties were sold by Atlanta based Hotel Development Partners (HDP) and an institutional partner, to Driftwood Acquisitions & Development, LP.
The package includes 568 rooms in strong locations around Metro Atlanta: Fairfield Inn & Suites Buckhead, Fairfield Inn & Suites Atlanta Perimeter Center, Fairfield Inn & Suites Alpharetta, SpringHill Suites Alpharetta, TownePlace Suites Alpharetta, and TownePlace Suites Kennesaw.
These hotels were acquired by HDP in 2015, who executed a $16M renovation or $25,000 per room. Hotel Equities, the management company for the seller, improved the seller’s ROI through increased revenue and operational efficiencies.
Allen O’Brien, CEO of HDP: “Hunter was pivotal in helping HDP to tap the value created through the acquisition and renovation of these 6 Marriott hotels.” HDP has developed and acquired 14 Marriott hotels, including the 115 room Courtyard by Marriott Alpharetta, which will open in January near Avalon and the Alpharetta Convention Center.
Tim Osborne, Vice President at Hunter Hotel Advisors: “Atlanta has seen very strong economic growth in recent years with no signs of stopping. This portfolio of hotels represented a rare opportunity to invest in several desirable submarkets in the metro area with a single acquisition. Hotel Equities, HDP Funds and their institutional JV partner have been great partners throughout this transaction, and we are all pleased with the results.”
“This portfolio represents 6 of 51 total properties under the Marriott flag that the Hunter team has brokered in 2018. The sellers offered profitable hotels in prime locations, and Driftwood recognized the opportunity to enter the Atlanta market at the right time.” - Teague Hunter, President, Hunter Hotel Advisors.
Atlanta’s hotel market continues to run at record-breaking occupancy and ADR with forecasted demand growth projected to be greater than new supply. The properties are ideally located in Buckhead, the primary financial district for the Southeast; Atlanta Central Perimeter, where more Fortune 500 corporations are located per capita than any other city in the US; Alpharetta, the technology city of the South; and Kennesaw, home of Kennesaw State University.
New Courtyard Marriot Celebrates Groundbreaking
ALPHARETTA, Ga. (December 13, 2017) — Hotel Development Partners recently held a groundbreaking ceremony for the Courtyard by Marriott Alpharetta, located across the street from Avalon.
Hotel Equities to Manage Courtyard in Atlanta
Hotel Business (December 12, 2017) - Hotel Equities will manage the 115-room Courtyard by Marriott in Atlanta, which is expected to open in late 2018.
Hotel Development Partners Celebrates Grand Opening for Residence Inn Atlanta Perimeter Center Dunwoody
ATLANTA, GA. November 22, 2017 – Atlanta-based Hotel Development Partners (HDP) celebrated the Grand Opening of the 127-suite Residence Inn by Marriott Atlanta Perimeter Center Dunwoody, Georgia. The hotel operates as a Marriott franchise, owned by Hotel Development Partners and managed by Hotel Equities (HE).
Hotel Development Partners Celebrates Grand Opening for Residence Inn Atlanta Perimeter Center Dunwoody
ATLANTA (November 21, 2017) - Atlanta-based Hotel Development Partners (HDP) celebrated the Grand Opening of the 127-suite Residence Inn by Marriott Atlanta Perimeter Center Dunwoody, Georgia. The hotel operates as a Marriott franchise, owned by Hotel Development Partners (HDP) and managed by Hotel Equities (HE).
Georgia Dome Demolition Sets Stage for Luxury Hotel: Residence Inn Opens
ATLANTA (November 20, 2017) —The Georgia Dome was imploded at 7:30 a.m. Eastern Standard Time today. Taking 12 seconds to flatten, the implosion utilized more than 10,000 man hours of preparation, 4,800 total pounds of strategically placed explosives, and approximately six miles of detonating cord and one mile of electrical wire connections.
Residence Inn Atlanta Perimeter Center Dunwoody
Atlanta-based Hotel Development Partners (HDP) celebrated the Grand Opening of the 127-suite Residence Inn by Marriott Atlanta Perimeter Center Dunwoody, Georgia. The hotel operates as a Marriott franchise, owned by Hotel Development Partners and managed by Hotel Equities (HE).
Hotel Development Partners Acquires Portfolio of Seven Marriott-branded Hotels
ATLANTA, GA (April 14, 2015) –Atlanta-based Hotel Development Partners (HDP) recently announced the addition of seven select-service Marriott hotels to its growing portfolio of properties...
Hotel Development Partners Names Robert J. McCarthy as Chairman
Marriott former COO to lead HDP’s aggressive investment and development platform. Marriott former COO, Bob McCarthy will lead HDP’s aggressive hospitality investment and development platform.....
Hotel Equities and Hotel Development Partners Gain Approval, Plan Development of a Hampton Inn & Suites in Dunwoody/Perimeter Center Area of Atlanta
Atlanta, GA–August, 2013 – Atlanta-based Hotel Equities (www.hotelequities.com) and its joint venture partner, Hotel Development Partners (HDP), recently gained City of Dunwoody approval to develop a mixed-use project in the Dunwoody/Perimeter Center area of Atlanta....
Hotel Equities and IRE Capital Form Joint Venture Firm, Closes First Deal with Acquisition of Charleston Hotel
Atlanta, GA–November 6, 2012 – Atlanta-based Hotel Equities (www.hotelequities.com) recently entered into a joint venture with IRE Capital to form Hotel Development Partners (HDP)...