INVESTMENT
remaining uniquely what it is .” Without giving specifics on current key performance indicators , Suh said the hotel was holding steady . “ We see the ADR still going up year over year and that ’ s just organically what ’ s happening in the city as well , but we feel there ’ s still room to be had in terms of gaining even more than our fair share of revenue ,” said . ( To mark Arlo Williamsburg ’ s opening , the hotel plans to offer a limited-time opening rate of $ 329 to guests who book starting September 12 . At press time , rates booked via the hotel ’ s website ranged from $ 312 to $ 405 , exclusive of higher-priced flexible rates .)
The Williamsburg Hotel in Brooklyn has a rust-colored Corten steel façade . Photo : John Penney
BOOSTING THE BRAND Quadrum Global has been upping its brand profile during the past year . In November , it opened the nine-story , 217-room Arlo Wynwood in Miami , in an area that Pavlov described as what Williamsburg was like 15 years ago , citing it as an emerging part of the city with some warehouses and a few art galleries . “ Now , the local community is spearheading redevelopment of the entire area and we ’ re part of it . We feel like we ’ re building Wynwood together ,” said Pavlov . “ This acquisition and this opening to me was probably one of the most risky and
iconic things that we have done because it ’ s the first [ hotel ] in the area , and setting the standard of what hospitality should be ,” said Setayesh .
In April , it opened the 218-room Arlo Chicago — the former Hotel Julian — with partner Oxford Capital Group in a 1912 building it had acquired in 2015 .
Then , in June , the company sold its 250-room beachfront Nautilus by Arlo hotel in Miami Beach for $ 165.4 million to Service Properties Trust , which has raised a
The inside of the Water Tower Bar , which doles out tipples among the eclectic signage .
Sonesta flag at the South Beach property . Concurrent with those deals , Quadrum Global is underway with a new-construction property in Washington , D . C . The 12-story Arlo DC is sited at 333 G St . NW and adjacent to what ’ s known as The Harrison Apartments , a residential structure from the 1880s that will be preserved and integrated into the 445-room hotel and include a ground-floor restaurant , public space and guestrooms .
“ We are currently stabilizing and restoring [ the Harrison ], both as part of a commitment to the city ,” said Setayesh . “ We think it ’ s iconic and it brings a lot of design and character to this particular [ hotel ] as well .” The property is slated to open in August 2024 .
ON THE LOOKOUT Pavlov described Quadrum as being in a “ phase of more-rapid expansion ,” not only via development , but by acquiring properties so it can boost the Arlo portfolio faster . “ Williamsburg and Chicago are the new test cases and I ’ m sure we ’ ll learn more how to do this better ,” he said . “ We ’ re very opportunistic and we ’ re looking at other locations in the U . S . We also follow our
68 hotelsmag . com Jul / Aug 2023