HOPES TO DOUBLE ITS 2021 ACQUISITION PACE
The recently acquired and rebranded The Leta near Santa Barbara , California
TRENDING
AWH
HOPES TO DOUBLE ITS 2021 ACQUISITION PACE
CO-FOUNDER CHAD COOLEY SAYS STABILIZATION WILL LEAD TO ASSET TURNOVER AND OPPORTUNITIES FOR THIS NET BUYER TO BECOME MORE AGGRESSIVE .
by JEFF WEINSTEIN , EDITOR IN CHIEF
Industry transaction dynamics are continually shifting and right now Chad Cooley , co-founder and managing partner of New York City-based AWH Partners , says the ongoing hotel industry recovery is starting to stabilize investor sentiment , which should lead to more acquisition opportunities for this privately held real estate investment , development , and management firm that has invested in 9,500 hotel rooms across 35 hotels , representing billions of real estate value .
AWH Partners , with currently holds 30 hotel assets in 18 states as of early March , is in acquisition mode right now , Cooley says , and is eager to invest after an active 2021 , when it bought five , well-timed distressed assets and invested about US $ 100 million of equity . While the same types of assets aren ’ t as likely to be available this year , Cooley says AWH would like to do even more volume than in 2021 – “ maybe double that or more ,” he says , adding in March it was negotiating a 1,000-key property deal .
More recently , AWH Partners acquired the Kimpton Goodland Goleta , a 158-room hotel near Santa Barbara , California , and transitioned it to The Leta , managed by AWH-owned Spire Hospitality . It represented the fifth deal of 2021 , all of
8 hotelsmag . com June 2022