Stonebridge Companies, a leading hospitality management, ownership, and development company based in Denver, has acquired the DoubleTree by Hilton Hotel Las Vegas Airport, marking its expansion into the Las Vegas market.
In partnership with TowerBrook Capital Partners and other private investors, the recent acquisition provides Stonebridge with a large platform to achieve its strategic growth plans throughout the United States.
"Through our growth, we look forward to not only creating new jobs but also providing our team members exciting new opportunities," said Tom Brinkman, president and chief operating officer at Stonebridge. "We look forward to welcoming our newest team members at the DoubleTree to our Distinguished Hospitality team here at Stonebridge."
Located at 7250 Pollock Drive, DoubleTree by Hilton Hotel Las Vegas Airport is just minutes from the Harry Reid International Airport and the Las Vegas Strip. Renovations planned for the 190-key full-service hotel, built in 1998, include a refresh of guestrooms and public spaces, as well as Stonebridge instilling the Distinguished Hospitality brand, which guides the company's values further enhancing the team member and guest experience.
The reimagination is anticipated to begin in the second quarter of 2023, with estimated completion in the fourth quarter of 2023.
"The Las Vegas DoubleTree acquisition allows Stonebridge to step into a cash-flowing asset with renovation upside at an attractive all-in basis and represents our commitment to growing our national footprint," said Steve Kakaty, a chief investment officer of Stonebridge. "We are excited to be establishing a presence in the dynamic Las Vegas market and believe our execution of the planned renovation program will position the hotel as one of the premier branded hotel offerings in the Las Vegas airport submarket."
With a current portfolio of more than 12,000 rooms nationwide, Stonebridge is actively pursuing new growth opportunities throughout the United States.
