boston park plaza
Parks Hospitality Holdings Acquires Boston Park Plaza
Parks Hospitality Holdings | October 31, 2023
BOSTON, Oct. 31, 2023 -- In a move signaling its U.S. market expansion strategy, Parks Hospitality Holdings (PHH), a leading hospitality developer and hotel owner, today confirmed the acquisition of the strategically positioned Boston Park Plaza. Located at 50 Park Plaza in Boston's central Back Bay neighborhood, the 1,060-key property will see the property transition to Hilton Boston Park Plaza as part of a post-acquisition rebranding initiative. The architecturally impressive hotel features contemporary and pet-friendly guestrooms and suites, two restaurants, a variety of amenities, and 70,000 square feet of meetings and event spac...
Sunstone Hotel Investors Complete Sale of 1,060-Key Boston Park Plaza for $370M
Sunstone Hotel Investors, Inc. | October 27, 2023
ALISO VIEJO, Calif., Oct. 27, 2023 -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced that it has completed the sale of the 1,060-room Boston Park Plaza (the "Hotel") for a gross sale price of $370 million, or approximately $350,000 per key. The sale price represents a 12.1x multiple on Hotel Adjusted EBITDAre and a 7.1% cap rate on Hotel Net Operating Income for the trailing four quarter period ended June 30, 2023. The Company acquired the Hotel in 2013 and successfully executed a business plan to reinvigorate the well-located historic hotel. Over the course of the Company's ownership period, the H...
Andrew Beer Named Executive Chef of Boston Park Plaza
Boston Park Plaza | November 29, 2016
BOSTON, MA (November 29, 2016) Boston Park Plaza is pleased to announce the appointment of talented culinarian Andrew Beer to the position of Executive Chef. In this role, Beer will oversee all aspects of the hotel's culinary program, including menu development for custom events, catering, banquets, and in-room dining. Beer will also oversee the bustling on-site restaurant, Off The Common, a popular locale serving delicious, New England-inspired fare during breakfast, lunch and dinner hours, along with expertly crafted cocktails, that's frequented by Bostonians and visitors alike. A Massachusetts native, Beer's love of cooking began dur...
Boston Park Plaza Completes Multi-Year $100 Million Renovation and Restoration
Boston Park Plaza | June 21, 2016
BOSTON, June 21, 2016 -- Boston Park Plaza is pleased to announce the completion of a comprehensive, multi-year, $100 million renovation and restoration project. The extensive transformation includes the complete overhaul of the hotel's 1,060 guestrooms and corridors, main entrances and lobby, meeting spaces, mezzanine levels, the addition of an all-new library room, and the replacement of all furniture and fixtures. "This rejuvenation project has completely transformed Boston Park Plaza into a self-contained nucleus that pairs top-notch hospitality, world-class dining and high-end fitness amenities with the modern comforts and...
Boston Park Plaza Appoints Jonathan Crellin as Managing Director
Boston Park Plaza | May 3, 2016
BOSTON, MA (May 3, 2016) – Boston Park Plaza announces the appointment of hospitality veteran Jonathan Crellin to the position of Managing Director. In this role, Crellin will draw on nearly 30 years of experience in the luxury hotel industry and assume leadership of the historic property known as "Boston's Most Beloved Hotel." Boston Park Plaza is located in the heart of Boston's Back Bay neighborhood and is in the last stages of its $100 million landmark transformation that is scheduled for completion in June 2016. The renovation encompasses all 1,060 guest rooms and suites, as well as all public spaces and 50,000 sq.-ft. of mee...
Boston Park Plaza Completes First Two Phases of $100 Million Dollar Renovation Project
Boston Park Plaza | June 25, 2015
BOSTON, MA (June 25, 2015) - Boston Park Plaza is pleased to unveil the completion of renovation phases one and two of the new Boston Park Plaza located at 50 Park Plaza in Boston. First opening its doors to the general public as the Statler Hotel on March 10, 1927, Boston Park Plaza has served as one of Boston's and the nation's iconic hotels for nearly 90 years, playing host to dignitaries like Winston Churchill and President Franklin D. Roosevelt, as well as celebrities such as Katherine Hepburn and Judy Garland. Situated on the grounds from which British troops embarked for the battle of Lexington, the Boston Park Plaza is in the mi...
