This is an example of a HTML caption with a link.
22:31 Schulze’s West Paces partners with investor | |
| ATLANTA–The West Paces Hotel Group, a luxury hotel management company, announced Wednesday that effective immediately it has changed its name to Capella Hotel Group to capitalize on the successful luxury brand it has created in Capella hotels and its expanding global operations. In addition, Capella Hotel Group announced that it has formed a partnership with Stoneleigh Capital, a private equity firm with an expertise in hospitality investments to offer a new model to owners and developers and accelerate its growth strategy. Horst Schulze, Chairman and CEO of Capella Hotel Group said, "We are strengthening our support for luxury hotel owners, developers and investors through a partnership between Capella Hotel Group and Stoneleigh Capital that creates a new model combining the highest skill set and knowledge in strategic hospitality analysis and investment with the global standard in luxury hotel management and marketing.” "The Capella Hotel Group has enjoyed strong growth over the past nine years and the name change allows us to take advantage of the power brand we have built,” said Schulze. "The investment by Stoneleigh Capital will increase our expansion by two times which already calls for the addition of five hotels over the next 12 months as well as doubling the size of the company over the next two years. With our Capella and Solís brands and select independent hotels, we will continue to create and manage the best luxury hotels in gateway cities throughout the world.” "Capella Hotel Group is the luxury hospitality thought leader and has established the global standard in service quality,” added Gary Engle, Chairman and CEO of Stoneleigh Capital. "The company’s innovative vision and drive for the highest level of personalized service coupled with the strength of the company’s brand were the key reasons for our investment decision. Together, we can capitalize on the great opportunities in the global luxury hospitality market and continue to nurture one of the most desired luxury brands.” Stoneleigh, whose recent investors include JP Morgan Private Equity Limited (LSE: JPEL), formed Stoneleigh WP Partners LLC to make its investment in Capella Hotel Group. In addition, Stoneleigh WP Partners LLC will seek to co-invest with owners of hotel and resort properties that expand the Capella and Solis brands. Capella Hotel Group also announced that Gary D. Engle, Chairman and CEO, Stoneleigh Capital, James A. Coyne, Vice Chairman and CFO, Stoneleigh Capital and Frank D. Palmer, Managing Director of Stoneleigh Capital, have joined its board of directors. "Stoneleigh’s relationship with global banks and ability to complete complicated transactions in this arena gives the private equity firm an edge over competitors and make them an ideal partner,” said Robert Warman, President and COO, Capella Hotel Group. "In addition, we believe the current market is an excellent time to deploy capital as our exceptional brand has proven to add value and enhance the image of a property. Owners and investors see a healthy return on investment when they partner with Capella Hotel Group. And, this value has proven to go beyond hotels, including offices buildings, condominiums, and vacation and resort communities.” Capella Hotel Group indicated that its outlook for the luxury hotel business is strong over the next few years with Asian high net worth travelers expected to provide great growth. "We will attract those travelers with the best hotels in the world. And because our offering has been created for the luxury traveler, we are not affected by typical economic cycles," said Warman. | |
|
| |
| Total comments: 0 | |