Hospitality

Kennedy has a specialized team of seasoned hospitality professionals who are dedicated to the sourcing of new hotel investment opportunities, designing and redeveloping assets as part of repositioning programs, managing assets in accordance with investment objectives and selling hotels at the conclusion of their investment periods. The team has managed $1 billion of hotel properties under various strategies including change-of-use (purchasing a non-hospitality asset and converting it to a hotel), redevelopment of tired or failing assets and repositioning as four-star quality properties and new construction. The team's relationship with highly respected, nationally recognized hotel brands provides Kennedy with the unique opportunity to upgrade flags and develop new hotel experiences for guests. Most recently, the team has disposed of three high profile properties generating returns at or exceeding client expectations. Included is the October 2006 sale of the W New York in Union Square which sold for $285 million (over $1 million per room) and represents the single highest price paid per room for any hotel (that did not offer an opportunity for residential conversion) in the United States in the last 20 years.

Please check back shortly, as we are developing case studies on specific properties within each asset class.