Hostmark Hospitality Group said Tuesday that it has teamed up with Pendo Investments and acquired the Hampton Inn Austin Airport. No financial terms were disclosed. Based in Austin, Hampton Inn Airport is a 102-room hotel located near the airport.
Schaumburg, Illinois (PRWEB) November 19, 2013
Hostmark Hospitality Group announced today that they have entered into a joint venture with Pendo Investments and acquired the Hampton Inn Austin Airport in Austin, Texas. The property will be managed by Hostmark Hospitality Group. “This is a phenomenal opportunity to expand our relationship with Hilton and the Hampton Inn brand in one of the premier markets in the United States,” states Jerome F. Cataldo, President and CEO of Hostmark Hospitality Group.
The 102-room hotel is optimally located just minutes from Austin-Bergstrom International Airport and just 5 miles from the new Circuit of the America’s Formula 1 Racetrack and Austin 360 Amphitheater. The Hampton Inn Airport is located at the gateway of the city and within close proximity to Austin’s cultural attractions, corporations, universities and thriving music scene. “We have assembled a premier team with Hostmark, Hilton and Pendo Investments, to capitalize on a great hotel in a fantastic city,” mentions Brian Buchhagen, President of California-based Pendo Investments. “We have earmarked capital to fully renovate the property providing a best-in-class guest product and experience,” he concludes.
About Hostmark Hospitality Group:
Hostmark Hospitality Group is a leading hospitality management firm with consistent leadership spanning more than four decades, operating upscale full service hotels, select service hotels, independent boutique hotels, luxury resorts, attractions and concept restaurants worldwide. Headquartered in Schaumburg, IL, with offices in Miami, FL and Cairo, Egypt, Hostmark Hospitality Group is an award-winning operator of Marriott, Hilton, Intercontinental Hotels Group, Starwood and Wyndham Hotels. Hostmark Hospitality Group has a proven longstanding reputation for delivering superior results through forward focused ingenuity and exceptional asset management.
About Pendo Investments:
Pendo Investments is a vertically integrated real estate investment company and fund manager that seeks to provide superior risk adjusted returns in value add and core plus investments throughout the West and Southwest United States. The principals of Pendo are proven fiduciaries with a successful $4 billion track record and discretionary equity immediately available for investment. Pendo’s team is committed to excellence and focused on delivering value through its proven investement strategy, underwriting philosophy and asset management expertise.