SAN DIEGO —
New York City-based Certares partnered with Harrisburg, Pennsylvania-based HHM
Hotels to acquire the 246-key Carté Hotel San Diego Downtown from Carté Hotel
Partners for an undisclosed amount.
Certares and
HHM Hotels negotiated directly with Carté Hotel Partners, which will reinvest
in the new ownership entity as part of the transaction.
“We are
excited to add one of the top lodging assets in the downtown San Diego market
to our growing portfolio. This transaction is consistent with our strategy to
acquire high-quality, experiential real estate in growing major markets,”
said Nolan Hecht, senior managing director at Certares. “We see continued
opportunity to build upon our San Diego cluster, which also includes the
245-room Courtyard San Diego Downtown and look forward to our continued
partnership with the HHM Hotels team.”
Certares has
acquired 13 hotels with almost 3,000 keys since launching its real estate
platform in 2021, including the Courtyard San Diego Downtown. In April, it
acquired the 390-key Hilton Back Bay for $171 million from Ashford Hospitality
Trust.
To download
our list of deals from the past week in Excel format, click here.