Commonwealth Hotels, Radisson Hotel Group Americas, Lockwood Development Partners and Veteran Services USA Join Forces to Execute Large-Scale, Multi-Property Adaptive Mix
Commonwealth Hotels today announced a strategic alliance with Radisson Hotel Group Americas and Lockwood Development Partners to acquire and jointly re-develop nine hotels across eight states in partnership with Veteran Services USA, forming a vast network of new multi-use developments such as housing, senior daytime activities and care, and career training and reskilling resource locations for veterans across the country.
COVINGTON, Ky., May 26, 2021 /PRNewswire-PRWeb/ -- Commonwealth Hotels today announced a strategic alliance with Radisson Hotel Group Americas and Lockwood Development Partners to acquire and jointly re-develop nine hotels across eight states in partnership with Veteran Services USA, forming a vast network of new multi-use developments such as housing, senior daytime activities and care, and career training and reskilling resource locations for veterans across the country. The properties will be franchised with Radisson and managed by the Commonwealth team.
"Commonwealth Hotels is a growth organization and this alliance with Lockwood Development Partners, Radisson and Veteran Services USA is very important to our strategic plan," said Bryan Hayes, Managing Partner, Commonwealth Hotels. "We couldn't be more excited to be a part of this exciting plan to right-size several iconic hotels in vibrant markets while providing vital housing to veterans around the country."
The agreement positions Radisson Hotel Group Americas progressively in its ability to evolve the hotel development landscape alongside Commonwealth Hotels. Commonwealth will operate and manage all nine properties, making it one of the largest franchisors with Radisson. Commonwealth will undertake a comprehensive multi-million-dollar renovation of the properties—adaptive mixed-use hotel conversions built on the Radisson Hotel Group Americas brand and development principals. The alliance creates a unique model that will bifurcate buildings with separate entrances for residential and hotel use, putting them to their highest and best use by repurposing distressed properties fitting today's environment. Additionally, benefiting America's veterans and senior communities that visit for programs and care.
"We are the sum of our parts, and by harnessing the acumen behind Radisson, Commonwealth, and Lockwood we are delivering on our promise to create a new standard for adaptive re-use projects by serving communities across the United States," said Charles Everhardt, principal, Lockwood Development Partners. "This dynamic partnership we have assembled addresses the growing demand for veterans housing and senior daytime care while infusing the latest trends from the hospitality industry under one roof, providing a unique concept spearheaded by category leaders."
"The strategic alignment between Radisson Hotel Group Americas, Lockwood Development Partners, and Commonwealth Hotels continues to define the fast-paced vitalization of Radisson throughout the globe. This unique concept of redefining the large full-service hotels into more efficient mixed-use facilities, with profitability top-of-mind, has been discussed for years; the vision of Lockwood Development Partners, Veteran Services USA combined with the leadership of Commonwealth Hotels has brought the concept to life," said Phil Hugh, Chief Development Officer, Radisson Hotel Group Americas. "Radisson Hotel Group Americas is honored to be selected as the brand of choice for the concept and is proud to be able to give new options to the veterans of this great country," he said.
Radisson Hotel Group Americas proudly works with the USO through Radisson's Military 1st program, which honors active military, veterans, retirees and their spouses. Similarly, Lockwood Development Partners is committed to being the leading developer and provider of best-in-class housing facilities with programs for veterans and maintains a partnership with VSUSA in pursuit of that commitment.
For more information about Commonwealth Hotels' portfolio, services or offerings, please visit http://www.commonwealthhotels.com.
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About Commonwealth Hotels
Commonwealth Hotels, LLC was founded in 1986 and is a proven partner in providing hotel management services with superior financial results. The company has extensive experience managing premium branded full service and select service hotels. Commonwealth Hotels currently manages 61 properties with over 7,000 rooms.
About Radisson Hotel Group Americas
With eight individual brands and more than 1,500 hotels internationally, Radisson Hotel Group Americas is one of the largest, most dynamic hotel groups in the world. The Radisson Hotel Group Americas portfolio includes Radisson Collection, Radisson Individuals, Radisson Blu, Radisson, Radisson RED, Park Plaza, Park Inn by Radisson, and Country Inn & Suites by Radisson.
About Veteran Services USA
Veteran Services USA is an organization committed to supporting veterans and seniors by offering programs that ensure successful life transitions. For our recently transitioned veterans, we provide transitional sponsorship and career support programs, with a focus on mental health and suicide reduction. For our seniors, we offer affordable, independent housing, healthcare, and social service programs across the United States. VSUSA is a collective of accomplished individuals, including retired military officers, academics, entrepreneurs, experts in finance, media, and marketing dedicated to achieving our mission of helping our nation's veterans and seniors.
About Lockwood Development Partners
Lockwood Development Partners is a real estate development and investment firm. Lockwood Development Partners is committed to being the leading developer and provider of best-in-class housing facilities with related services for veterans and their families, ensuring that veterans are treated and cared for in compassionate, dignified and professional environments that allow them to achieve optimal levels of independence while assisting them to reacquire life skills and the ability to live in broader communities.
Media Contact
Marrissa Mallory, Vice President, JPR, +1 (619) 277-8845, [email protected]
Barbara E. Gurren, Commonwealth Hotels, LLC, 859.392-2254, [email protected]
SOURCE Commonwealth Hotels
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