BOSTON HOTEL BUSINESS. has learned that Destination Hotels & Resorts will manage the new-build boutique property here known as 90 Tremont St. in the heart of the financial district.
According to Charles Peck, president/CEO, DH&R, the credit for getting into the tight Boston market with this 190-room property “goes to our partners, Intercontinental Development. It s their home city and they have a very significant presence.”
Intercontinental, which funds its own investments and developments, “found the site and gained approvals. They knew they needed a hotel operator and they preferred to have someone come in as a partner,” said Peck, noting DH&R won out over Starwood Hotels & Resorts W and The Kimpton Group. DH&R is a minority partner in the venture.
“This is their first hotel project and our response, I think, was key,” said Brian Windle, svp/sales and marketing. “Being a smaller company we are able to focus important resources to what their needs were.”
“We ll open in late spring of 2002,” said Peck. “This kind of product is under-served in Boston, where great hotels tend to be larger. It s an excellent property in an excellent market.”
Colorado-based DH&R currently has a 28-property portfolio of independent luxury hotels, full-service spas and golf courses and expects to pull in some $600 million in gross revenue this year. (3/14/01) Stefani C. O Connor