ATLANTA—Davidson Hotels & Resorts has added the Hyatt Regency Cincinnati to its lineup of managed Hyatt-branded hotels. This addition enhances Davidson’s position as the largest third-party operator of full-service Hyatt hotels in the industry, according to the management company, encompassing seven Hyatt properties and nearly 2,800 rooms.
The 491-room hotel was acquired by a partnership of H.I.G. Realty Partners, Silverpeak Real Estate Partners and Davidson Investment Group, and is the second acquisition for this partnership, following the 499-room Hyatt Regency Indianapolis last year.
Hyatt Regency Cincinnati sits across the street from the Convention Center, nearby Over-the-Rhine (OTR), The Banks and the riverfront sports complex. The property includes more than 40,000 sq. ft. of meeting space, as well as The Red Roost Tavern, a fitness facility and indoor pool.
“After spending the year focusing on delivering a great bottom line for our owners and uncovering new and exciting opportunities, Davidson is heading into 2016 with tremendous momentum,” said John Belden, president and CE) of Davidson Hotels & Resorts. “Adding Hyatt Regency Cincinnati to the Davidson family further solidifies our position as a top operator of Hyatt hotels, and is the first of many strategic growth announcements this year.”
“Amassing one of the purest full-service portfolios in the industry, Davidson is a proven operator of branded and lifestyle hotels in the upper-upscale and luxury segments,” noted Steve Margol, Davidson’s chief investment officer. “By consistently delivering outsized returns, Davidson has become a highly trusted partner for top-tier groups like H.I.G., Silverpeak and other institutional investors throughout the industry.”
“Davidson is an operator in a class by themselves,” said Ira Weidhorn, managing director at H.I.G. Realty Partners. “Not only do they create great value in our assets, but they conduct themselves with great integrity, both at the property level and in the boardroom. They truly care about their performance, as well as the way in which they represent us.”