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The Management Company Expands into New West Coast Markets and Doubles Number of Hotels Unaffiliated With Major National Brands.
PHILADELPHIA, Sept. 17, 2013 /PRNewswire/ -- HHM has been chosen to manage the prestigious Larkspur Landing brand, best known for its upscale extended stay hotels. The 11 all-suite hotels are located in major Northern California and Pacific Northwest cities such as San Francisco, Seattle, Portland, Sacramento and San Jose. Each of these hotels will continue to be owned by affiliates of Starwood Capital Group ("Starwood"), the private investment firm which made its initial investment in 2007 and completed a successful refinancing and related purchase of the Larkspur Landing brand.
"We are honored and delighted to be associated with such an innovative, notable brand and the many dedicated associates that produce such strong and authentic connections with both the business and leisure travelers," said Naveen P. Kakarla, president and CEO of HHM. "We have spent considerable time with the operations and revenue teams across the portfolio, and our intention is to help foster an already great reputation of genuine hospitality while adding value through HHM's talent and resources."
Starwood Senior Vice President Cody Bradshaw also expressed his excitement for the future of the Larkspur Landing hotels. "Following the success of our recent refinancing, we are thrilled at the prospect of generating additional value for our investors through the strategic acquisition of the Larkspur Landing brand and engagement of HHM as manager of this prime West Coast hotel platform," Bradshaw said.
Designed for the modern business and leisure travelers, Larkspur Landing hotels also evoke the warmth and character reflective of their California and Pacific Northwest locations. All 11 hotels provide the comfort and authenticity needed for a home on the road, with amenities such as 24-hour business centers, complimentary laundry rooms, living room-style lobbies, fitness centers with whirlpool spa and the complimentary signature Healthy Start Continental Breakfast.
For more information about investing with HHM, visit hhmhospitality.com, contact firstname.lastname@example.org or call 215.238.1046.
About Larkspur Landing
The Larkspur Landing brand provides extended stay accommodations designed for today's modern business and leisure traveler. Each Larkspur Landing property is designed as a "home away from home" with contemporary Craftsman-style architecture and thoughtful, home-like touches combined with modern conveniences and services to maximize productivity. Each Larkspur Landing hotel offers a fully equipped fitness facility, hot tub, outdoor barbecue, onsite washers and dryers, grocery shopping services and a well-stocked refrigerator.
HHM, formerly known as Hersha Hospitality Management, operates 130 hotels across the United States. It provides turnkey hotel management, asset management and receivership for properties with leading brand affiliations through Marriott, Hilton, Hyatt, Starwood, and Intercontinental Hotel Group. HHM also operates 25 independent hotels ranging from The Rittenhouse Hotel, a AAA Five Diamond property in Philadelphia, to the Larkspur Landing hotels, all-suite extended stay properties in Northern California and the Pacific Northwest. Its highly experienced team is accustomed to serving as a fiduciary to publicly traded companies, joint ventures, institutional real estate owners and private investors. Additional information on HHM can be found at hhmhospitality.com.
About Starwood Capital Group Global, LLC Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group's inception in 1991, the firm has raised over $22 billion of equity capital and acquired over $44 billion in assets. Starwood Capital Group currently has $29 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Los Angeles, Chicago and Miami, and affiliated offices in London, Luxembourg, Paris, Frankfurt and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital can be found at www.starwoodcapital.com.
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