NEW YORK—Rockpoint Group, LLC, Highgate and Hotel Asset Value Enhancement (hotelAVE) have agreed to purchase The Renaissance Boston Waterfront Hotel in a joint venture.
Highgate and HotelAVE will assume asset management as part of the sale of the 471-room luxury hotel, which includes 20,000 sq. ft. of meeting space and three food and beverage outlets. Additional amenities include a fitness center, heated indoor pool and sauna and spa treatment rooms.
Marriott International will continue to operate the hotel under the Renaissance brand. A capital renovation evaluation will commence shortly after the closing of the transaction.