PE Deals

Paceline acquires Home2Suites by Hilton New York Long Island City

The acquisition represents Paceline’s second strategic partnership with Highline Hospitality Partners, following Paceline’s acquisition of the Sheraton Suites Atlanta Galleria, which was announced in June 2022.

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  • The 115-key Home2 Suites in Long Island City was developed in 2014
  • This deal comes on the heels of Paceline’s purchase of the Renaissance Dallas at Plano Legacy West Hotel
  • Paceline has over $1 billion of commitments currently under management

Paceline Equity Partners has acquired the Home2 Suites by Hilton New York Long Island City, an extended stay, all-suite hotel located in Long Island City, New York. No financial terms were disclosed.

The acquisition represents Paceline’s second strategic partnership with Highline Hospitality Partners, following Paceline’s acquisition of the Sheraton Suites Atlanta Galleria, which was announced in June 2022.

The 115-key Home2 Suites in Long Island City was developed in 2014.

“The Home2 Suites represents our first hospitality investment in New York City, and the tenth hotel in our portfolio,” said Sam Loughlin, CEO of Paceline in a statement. “The hotel has capitalized on the strong leisure and business travel in the Long Island City submarket as the neighborhood has developed, highlighting the area’s strong recovery from the pandemic and diverse economic tailwinds,”

This acquisition follows Paceline’s recent purchase of the Renaissance Dallas at Plano Legacy West Hotel, an upscale Dallas-based hotel.

Paceline has over $1 billion of commitments currently under management.