HOUSTON, Tx. — (Dec. 5, 2019) — Virtua Partners, the Scottsdale, Arizona-based private equity firm, announced today the grand reopening of its now 190-room Springhill Suites by Marriott hotel in Houston. The property, managed by Hotel Equities, a leading hotel management firm, features a newly designed interior with spacious suites. This hotel is one of five properties operated through Virtua Partners’ and Hotel Equities’ strategic partnership.
“This project shows how working with the right partner, like Virtua enhances the overall execution,” says Joe Reardon, Hotel Equities Chief Development Officer. “We are thrilled to give this Houston property not only a fresh look for our guests, but also for our local community. Houston is an exciting place to be right now and offers plenty of opportunities in certain pockets to develop and redevelop properties such as these.”
Located at 1400 Old Spanish Trail, the hotel is just south of Midtown and minutes from NRG Stadium, Texas Medical Center and the Houston Zoo. In addition to the walkable attractions, the city also hosts 24 Fortune 500 companies, spurring approximately three million jobs and further cementing its status as a business hub. Tourists and business travelers will enjoy amenities such as a fitness center, free breakfast, outdoor pool and on-site laundry. The property will also have mobile check-in capabilities for the ease and convenience of guests.
“Our team at Virtua Partners has demonstrated an impressive ability to locate properties that we believe have great potential for long-term success while maintaining factors that could mitigate risk,” says Quinn Palomino, Virtua Partners CEO. “This property is an example of how Hotel Equities and Virtua Partners can work in tandem to provide a quality stay for our guests while working to achieve positive ROI for our investors.”
About Virtua Partners:
Virtua Partners is a global private-equity firm specializing in commercial real estate. The firm and its affiliates sponsor a variety of investment funds and commercial real estate projects across the United States.
About Hotel Equities:
Hotel Equities is an Atlanta-based full-scale hotel ownership, management and development firm managing more than 140 hotels throughout the U.S. and Canada. Frederick W. Cerrone, CHA, serves as Founder and Chairman; Brad Rahinsky serves as President and CEO. For more information, visit www.hotelequities.com.
Not an offer to buy or a solicitation to sell securities. Securities offered through Emerson Equity LLC, member FINRA and SIPC. All investing involves risk. Past performance is not indicative of future results. Speak to your financial and/or tax professional prior to investing. Emerson is not affiliated with any other entity identified in this communication.
Sommer Shiver, Director of Communications for Hotel Equities
O: 678-578-4444 Ext. 19