Jackson, MS / New York, NY (PRWEB) May 08, 2012
AWH Partners, LLC (AWH) -- a joint venture of Winston Harton Holdings, LLC (WHH) and August Group Ventures, LLC (AGV) -- today announced the all-cash acquisition of the mortgage secured by Hilton Jackson Mississippi (http://hiltonjackson.com), the premier, 276-room, sophisticated hotel offering best-in-class conference and catering services from an institutional lender. The hotel will remain a Hilton property and immediately utilize new capital to enhance the guest experience while maintaining its reputation as a distinguished Jackson gathering location.
“The mortgage was acquired in less than 40 days from when the parties agreed on deal terms and fewer than 30 days from the contract signing,” said Russ Flicker, principal of AWH Partners. “We are working consensually with Hilton and the current hotel owner to take control and invest considerable capital.”
The classic elegance and exemplary customer service of Hilton Jackson is enhanced by tasteful accommodations, casual and fine dining options as well as 30,000 square feet of convention and conference space. Conveniently located in Mississippi’s state capitol at Interstate 55 and County Line Road, Hilton Jackson is only 13 miles from the Jackson-Evers International Airport and minutes from downtown Jackson.
Lane Hotels Inc., a subsidiary of AWH Partners, will continue to manage the hotel as well as the four dining outlets, including Huntington’s Grille, Wellington’s and Fitzgerald’s.
“It’s exciting to be in a position right now to be able to acquire high quality properties like Hilton Jackson,” said Principal of AWH Partners, Chad Cooley. “We can move quickly on complicated acquisitions, working with developers, owners and lenders who are seeking resolution on capitalization issues as well as focus where we see opportunities to leverage our development and repositioning experience.”
AWH Partners’ purchase is part of an ongoing joint venture with an institutional equity source designed to pursue additional hospitality investments. The seasoned team of AGV and WHH bring extensive experience in hospitality investment, development and management.
For further information or to make reservations at Hilton Jackson, visit http://jackson.hilton.com or call 800-Hiltons (800-445-8667).
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About AWH Partners, LLC
AWH Partners, LLC, a joint venture between August Group Ventures, LLC and Winston Harton Holdings, LLC, offers an experienced institutional investment and management platform with dedicated capital. For more information, visit http://awhpartners.com.
About August Group Ventures, LLC
August Group Ventures is a privately held real estate investment, development and management firm founded in 2009 by New York-based Related Companies veteran Chad Cooley to pursue opportunities in the ailing hospitality market. August Group owns and manages hotels around the United States and seeks opportunities to invest in and manage assets requiring capital, repositioning and turn-around expertise. For more information, visit http://augustgroupventures.com.
About Winston Harton Holdings, LLC
Winston Harton Holdings, LLC (WHH) was established by Russell Flicker and Jonathon Rosenfeld to acquire distressed, value-added and operationally intensive real estate assets through equity and debt. Its principals have extensive experience and complementary skill set in the real estate sector, including acquisitions (private transactions and public securities), capital markets and asset management and asset repositioning. WHH will partner with both traditional institutional capital as well as private pools of capital to pursue transactions ranging from $10 - $250 mm. For more information, visit http://whhllc.com.
About Lane Hotels
Lane Hotels offers expertise in all facets of hospitality management and is committed to preserving, protecting and enhancing the value of hotel real estate. For more information, visit http://lanehospitality.com.
About Hilton Worldwide
Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 93 years, Hilton Worldwide has offered business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,800 hotels and timeshare properties, with 630,000 rooms in 88 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®.
About Hilton Hotels & Resorts
One of the most recognized names in the industry, Hilton Hotels & Resorts stands as the stylish, forward thinking global leader in hospitality. From inaugural balls and Hollywood award galas to business events and days to remember, Hilton is where the world makes history, closes the deal, toasts special occasions and gets away from it all. The flagship brand of Hilton Worldwide continues to build upon its legacy of innovation by developing products and services to meet the needs of tomorrow's savvy global travelers while more than 144,000 Team Members shape experiences in which every guest feels cared for, valued and respected. Today, the Hilton Hotels & Resorts portfolio includes more than 550 hotels in 80 countries and the brand remains synonymous with "hotel."