ares management
Hyatt Completes Sale of Hyatt Regency Orlando for $1.07 Billion
Hyatt Hotels Corporation | August 19, 2024
CHICAGO (August 19, 2024) – Hyatt Hotels Corporation (NYSE:H) today announced that an affiliate of Hyatt has completed the sale of the 1,641-room Hyatt Regency Orlando and adjacent 45 acres of land to affiliates of RIDA Development Corporation and an Ares Management Real Estate fund (“Ares”) for approximately $1.07 billion, while retaining a long-term management agreement under the Hyatt Regency brand. In connection with the transaction, Hyatt retained $265 million of non-controlling preferred equity and provided an additional $50 million of seller financing for the adjacent 45-acre parcel. The sale of Hyatt Regency Orlando is...
Marriott, RIDA Development, and Ares Management Break Ground on Gaylord Pacific Resort and Convention Center
Marriott International, Inc. | July 28, 2022
Marriott International, Inc. today announced the commencement of construction on the Gaylord Pacific Resort and Convention Center (the “Gaylord Pacific”). A ceremony was held this morning on the 500+ acre Chula Vista Bayfront, site of the anticipated 1.8 million-square-foot Gaylord Pacific. The event was attended by the Gaylord Pacific’s developers RIDA Development Corporation (“RIDA Development”) and Ares Management (“Ares”), finance partners, officials from the City of Chula Vista, Port of San Diego, and State of California, Marriott executives, group customers, and other project supporters. “We are thrilled to announce t...
Ares Management, SMW Hospitality & Trinity Investments Sell Ritz-Carlton, Kapalua in Maui to Blackstone Real Estate Partners
Ares Management, L.P. | October 17, 2018
HONOLULU & LOS ANGELES & NEW YORK—October 17, 2018--A joint venture among funds managed by the Real Estate Group of Ares Management, L.P. (NYSE:ARES), SMW Hospitality LLC (a joint venture between affiliates of Square Mile Capital Management LLC ("Square Mile Capital") and Wafra Inc.), and Trinity Real Estate Investments LLC, today announced the sale of The Ritz-Carlton, Kapalua in Maui, Hawaii, to Blackstone Real Estate Partners, an affiliate of Blackstone Group (NYSE:BX). The joint venture acquired The Ritz-Carlton, Kapalua, a AAA Five Diamond, oceanfront property located on 49 acres of Maui's lush northwest shore, in 201...
Ares Real Estate Sells Its Stake in Gaylord Rockies Resort & Convention Center for $270 Million
Ares Management, L.P. | September 17, 2018
LOS ANGELES—September 17, 2018--Ares Management, L.P. (NYSE: ARES) announced today that funds managed by its Real Estate Group have agreed to the sale of its investment in the Gaylord Rockies Resort & Convention Center, a 1,500-room hotel and convention center under construction in Aurora, Colorado. As part of the transaction, Ryman Hospitality Properties, Inc. (NYSE: RHP) and RIDA Development Corporation, Ares' other partners in the development's joint venture, will pay a combined total of approximately $270 million to acquire Ares' investment. The transaction is subject to customary closing conditions, including joint ventur...
Ares Management, SMW Hospitality, and Trinity Investments Acquire the Ritz-Carlton, Kapalua in Maui
Ares Management, L.P. | November 21, 2016
HONOLULU, LOS ANGELES & NEW YORK -- A new joint venture among funds managed by the real estate group of Ares Management, L.P. (NYSE:ARES), SMW Hospitality LLC (a joint venture between affiliates of Square Mile Capital Management LLC and Wafra Investment Advisory Group) and Trinity Investments, LLC today announced the acquisition of The Ritz-Carlton, Kapalua in Maui, Hawaii. The resort was acquired from a partnership between Woodridge Capital Partners, LLC and Colony Capital Inc. The Ritz-Carlton, Kapalua is a AAA Five Diamond, oceanfront property located on 49 acres of Maui's lush northwest shore. The hotel is part of the 23,000-acr...
Ryman Hospitality Properties Acquires 35% Stake in Gaylord Rockies Resort and Convention Center Project in Aurora, CO
Ryman Hospitality Properties, Inc. | March 9, 2016
NASHVILLE, Tenn.--Mar. 9, 2016-- Ryman Hospitality Properties, Inc. (NYSE:RHP) ("Ryman" or "the Company") announced today that it has acquired a 35 percent equity ownership stake in the Gaylord Rockies Resort and Convention Center project in Aurora, Colorado, with an expected aggregate investment of approximately $86 million. RIDA Development Corp. and Ares Management, L.P. are leading the owner and development partnership and Marriott International, Inc. (NASDAQ:MAR) will manage the hotel and convention center. The property is currently under construction and is scheduled to open in late 2018. Under the terms of our agreement, RIDA wil...
Dual-Branded 330-room Aloft Boston Seaport and 180-room Element Boston Seaport Hotel Complex Opens
Aloft Hotels | February 9, 2016
February 09, 2016 - STAMFORD, Conn. - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced the opening of a dual-branded Aloft and Element hotel development in the heart of Boston's Seaport District. The 330-room Aloft Boston Seaport and 180-room Element Boston Seaport boast a prime location on D Street, directly across the street from the Boston Convention & Exhibition Center. "We are proud to debut both our Aloft and Element brands in Boston's dynamic Seaport district, a hub for innovation and a premier convention destination that attracts visitors from across the globe," said Brian McGuinness, Senior Vice Pres...
Ares Management Invests in Montage Hotels & Resorts Taking up to 20% Stake
Montage Hotels & Resorts | January 27, 2016
ORANGE COUNTY, Calif., Jan. 27, 2016 -- Montage Hotels & Resorts and Ares Management, L.P. (NYSE: ARES) announced today that a real estate fund managed by Ares has made a strategic investment in Montage Hotels & Resorts, a leading luxury hospitality management company. As part of the transaction, Ares will purchase a minority stake of up to 20% in Montage Hotels & Resorts. Ares also will provide up to $200 million in future growth capital to Montage Hotels & Resorts, with a strategic focus on the continued expansion of its portfolio of Montage- and Pendry-branded hotels and resorts. As the company's largest sharehold...
