NEW YORK, Sept. 2, 2014 /PRNewswire/ -- Thayer Lodging
Group ("Thayer"), a Brookfield Company, and its institutional
partners, have acquired the Westin Diplomat Resort & Spa in
Hollywood, Fla.
The Company announced the property will be renamed the Diplomat
Resort & Spa and will join Hilton Worldwide's newest brand,
Curio – A Collection by Hilton, in October
2014. Thayer will also embark on a $100 million enhancement initiative for the
oceanfront property later this year.
Thayer Co-Chairman Lee Pillsbury
notes the Diplomat acquisition is a reflection of the company's
continued growth in the hospitality sector, adding that Thayer is
excited about bringing Hilton's Curio brand to the resort.
South Florida's premier
beachfront resort and convention center, the Diplomat Resort
encompasses 998 rooms and suites, numerous restaurants and a Spa,
along with more than 200,000 square feet of meeting and convention
space, where it annually hosts numerous major gatherings.
"It is a renowned property that offers South Florida's premier combination of resort
and convention facilities. With its great beachfront, superb
meeting facilities and easy access from Miami and Fort
Lauderdale airports, the resort has a tremendous reputation
for quality of service and comfort," Pillsbury said. "We are going
to build on that and make the Diplomat an even stronger
destination."
"Thayer looks forward to making a significant contribution to
the ongoing transformation of the Hollywood Beach area with the
'new' Diplomat Resort & Spa," he added.
Curio – A Collection by Hilton is a global collection of
distinctive four to five star hotels offering travelers local
discovery and authentic experiences in key markets. Each Curio
hotel will be different from the next and individuality will be a
common thread, along with the quiet reassurance of the Hilton name
behind every location.
"We are pleased to have a property of this stature join the
Curio Collection," said Dianna
Vaughan, global head, Curio – A Collection by Hilton. "The
Diplomat Resort & Spa was launched as an exciting addition to
South Florida's history more than
50 years ago, and today illustrates the diversity of our brand as
well as our commitment to providing our guests with remarkable and
intriguing experiences."
A luxury hotel, the original Diplomat hotel opened on the site
in 1959. A ritzy and opulent retreat, it quickly made Hollywood, Florida, a popular destination for
the rich, famous and anyone seeking a little glamour with their
surf and sun.
The resort was acquired from the Plumbers & Pipefitters
National Pension Fund, which redeveloped the property on the site
of the historic, former hotel of the same name. As part of the
transaction, the Diplomat Golf & Tennis Club was acquired by
Concord Wilshire, a real estate development company. The resort and
the golf properties will work closely with each other to serve
their guests and continue presenting luxury experiences.
As part of the Hilton Worldwide portfolio, Curio hotels will
offer guests the benefits of Hilton HHonors, the award-winning
guest loyalty program serving more than 40 million members. Hilton
HHonors offers more ways to redeem points than any other guest
loyalty program.
The hotel remains open and fully operational and will continue
to conduct business as usual during the transition. All
existing guest reservations will be honored.
More information about Curio may be found at
curiocollection.com. Media may access more information by visiting
news.curiocollection.com.
Read more about Hilton Worldwide and its brand news at
www.hiltonworldwide.com.
Thayer Lodging Group
Thayer Lodging Group,
based in Annapolis, Md., is a
hotel asset management and investment company, acquired in 2014 by
Brookfield. Thayer has a lengthy
and successful track record that spans multiple investment cycles.
Since forming its first private equity fund in 1991, Thayer has
completed 41 hotel investments with a total acquisition cost of
approximately $2.4 billion.
Thayer's funds currently own a portfolio of 14 hotels and 3,637
guest rooms and, through its investment in Interstate, have
ownership interests in 64 hotels with 11,655 guest rooms. Thayer
seeks to invest in hotels where the Company's expertise can add
value through its time-tested strategies, which include extensive
renovation, market repositioning, expense reduction and rebranding
as methods of improving net operating incomes. For more information
about Thayer, visit the company's web site,
www.thayerlodging.com.
About Curio – A Collection by Hilton
Curio – A Collection by Hilton (curiocollection.com) is a global
collection of distinctive hotels that are woven into the fabric of
their destinations. While each one is unique, they are united in
their individuality. Curio guests are passionate travelers seeking
local discovery and authentic experiences, while resting easier
knowing the Hilton name is behind every stay.
Curio joins a portfolio of market-leading brands from Hilton
Worldwide, a leading global hospitality company. Access the latest
news at news.curiocollection.com or inquire about development
opportunities at hiltonworldwide.com/development.
About Hilton Worldwide
Hilton Worldwide (NYSE: HLT)
is a leading global hospitality company, spanning the lodging
sector from luxury and full-service hotels and resorts to
extended-stay suites and focused-service hotels. For 95 years,
Hilton Worldwide has been dedicated to continuing its tradition of
providing exceptional guest experiences. The company's portfolio of
eleven world-class global brands is comprised of more than 4,200
managed, franchised, owned and leased hotels and timeshare
properties, with more than 690,000 rooms in 93 countries and
territories, including Hilton Hotels & Resorts, Waldorf Astoria
Hotels & Resorts, Conrad Hotels & Resorts, Curio - A
Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels,
Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2
Suites by Hilton and Hilton Grand Vacations. The company also
manages an award-winning customer loyalty program, Hilton HHonors®.
Visit news.hiltonworldwide.com more information and connect with
Hilton Worldwide at www.facebook.com/hiltonworldwide,
www.twitter.com/hiltonworldwide, www.youtube.com/hiltonworldwide,
www.flickr.com/hiltonworldwide and
www.linkedin.com/company/hilton-worldwide.
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SOURCE Thayer Lodging Group