PHILADELPHIA, PA–( June 07, 2016 ) – GF Management, a leading national hotel ownership and management company, announces that, through its affiliate, it has acquired the 353-room DoubleTree by Hilton Hotel Orlando Airport located two miles from Orlando International Airport. This acquisition is the third hotel in the Orlando market acquired by the Company in recent years, adding to the 2013 acquisitions of the Embassy Suites Lake Buena Vista Resort, and the Hilton Garden Inn Orlando/North Lake Mary.
The hotel will maintain its affiliation with the DoubleTree by Hilton brand and will be undertaking a renovation in excess of $8 million which will take place over the next 18 months. The impactful renovation planned for the property will focus on improvements to the public space, guest rooms, and most importantly, the overall guest experience. "We take great pride in the hotels that we own and manage," says Jeff Kolessar, Senior Vice President of Development and Acquisitions for GF Management. "We have enjoyed many acknowledgments of our capital improvements through renovation awards from various brands, and through direct guest feedback. The renovations for the DoubleTree Orlando Airport will certainly exceed expectations."
As an owner and operator for nearly three decades, GF has a disciplined and focused acquisition strategy, identifying assets of value to expand the Company's owned portfolio, with a long term hold model. Since acquiring its first hotel in 1988, GF has grown into one of America's leading hotel owners and managers with 23 hospitality assets now under ownership by its principals and affiliates. This owned portfolio now includes six hotels under various Hilton flags. GF's total owned and managed portfolio consists of 85 hospitality assets in 28 states, comprising over 14,000 rooms.
"The acquisition of the DoubleTree by Hilton Hotel Orlando Airport continues to mark milestones towards GF Management's growth objectives," Kolessar continues. "We will continue to identify quality assets to expand the Company's owned portfolio, and we are prepared for additional growth throughout the remainder of 2016 and into the future.
