EXCEL ACQUIRES ALOFT BWI, CONTINUES GROWTH
FOR IMMEDIATE RELEASE — Washington, D.C.-based Excel Group, a private equity real estate investment firm, has announced their acquisition of the Aloft BWI Airport Hotel, adding to their growth and bringing their portfolio up to 14 assets.
“We’re thrilled to announce this transaction, and to add to our momentum. We see a great amount of potential in the Aloft BWI, and look forward to turning this property around,” Shoham Amin, Managing Partner of Excel, remarked.
Excel has contracted OTO Development, a South Carolina-based hospitality development and management company, to manage the property. A total renovation is slated for Q4 2016, and many operational changes have already taken effect.
ABOUT EXCEL GROUP: The Excel Group is a private equity firm focused on disciplined, cycle-appropriate hotel real estate acquisitions and asset management. Headquartered in Washington, D.C., the group owns and manages 14 hotels.
ABOUT OTO DEVELOPMENT: OTO Development was established in 2004 by world-class entrepreneurs with long histories of success in rapid growth organizations. Builders of world-class organizations and a rich history in lodging, the founders created OTO Development with the mission to maximize the value of investments in both people and product. With an emphasis on quality, reliability, service, and value, OTO is committed to their portfolio of excellent hotels managed by exceptional people.
ABOUT ALOFT HOTELS: Aloft Hotels, a Starwood-owned lifestyle brand, launched in 2008 and redefined the select-service category. An affordable alternative for the tech-savvy, design-driven crowd, each Aloft is designed with unique style and an iconic social scene. From attitude to atmosphere, Aloft strives to provide an open, expressive, and forward-thinking solution to hospitality.