Certares and HHM Hotels Partner to Acquire High Quality Hotel in Downtown San Diego
July 01 2024 - 10:51AM
Certares, investor and expert in the travel and hospitality
industry, has acquired the Carté Hotel San Diego Downtown, Curio
Collection by Hilton. The lifestyle hotel, under Hilton’s soft
brand, Curio, is nestled in the heart of San Diego’s bustling
Little Italy neighborhood. Originally opening in late 2019, the
Carté Hotel features 246 oversized guestrooms with comprehensive
guest amenities, including an expansive rooftop bar/lounge, an
outdoor pool deck, a lobby restaurant, and a 25,000 square foot
athletic club.
“We are excited to add one of the top lodging assets in the
Downtown San Diego market to our growing portfolio. This
transaction is consistent with our strategy to acquire high quality
experiential real estate in growing major markets,” said Nolan
Hecht, Senior Managing Director at Certares. “We see continued
opportunity to build upon our San Diego cluster, which also
includes the 245-room Courtyard San Diego Downtown, and look
forward to our continued partnership with the HHM Hotels team.”
Certares and HHM Hotels worked directly with the seller, Carté
Hotel Partners, on a successful transaction. Carté Hotel Partners
will reinvest in the new ownership entity, positioning themselves
for the next stage of growth at the property.
“The Carté Hotel truly captures the essence of an urban
destination, offering curated experiences to its guests, while
serving as a launching pad to explore Little Italy and San Diego
more broadly. We are delighted to add this to our expanding
lifestyle portfolio with Certares,” said HHM Hotels President &
CEO Naveen Kakarla.
####About CertaresEstablished in 2012, Certares
is a global investment firm focused exclusively on the travel and
hospitality industries, leveraging deep sector experience,
proprietary transactions and hands-on partnership with management
teams to drive growth. With approximately $9 billion of assets
under management, Certares brings together a team with decades of
both operational and investment experience in private equity,
travel, tourism, hospitality and travel-related business and
consumer services. Since launching its real estate platform in
early 2021, Certares has acquired 13 hotels comprising almost 3,000
keys across the country. For more information, please visit
www.certares.com.
About HHM HotelsHHM Hotels is an award-winning hotel management
and investment company that operates full-service and
select-service hotels across the United States and Canada in
virtually every major hospitality market from coast to coast. HHM
Hotels is a leading manager of Marriott, Hyatt, IHG, and Hilton
hotels, while also operating over 35 independent luxury and
lifestyle hotels ranging from The Rittenhouse Hotel in Philadelphia
to the Parrot Key in Key West to The Whitney Hotel in Boston. HHM
Hotels’ highly experienced and stable operating team is known for
being nimble, accountable, and entrepreneurial in how they drive
market-leading results for owners including publicly traded
companies, private equity firms, and family office investors.
Additional information can be found at hhmhotels.com.
HHM Investments
(215) 238-1046
hhminvestments@hhmhotels.com
Certares Management LLC
(212) 624-2940
investor-relations@certares.com