Highline Hospitality Acquires Westin Poinsett, Appoints HEI
Highline Hospitality Partners has purchased the 200-room Westin Poinsett in Greenville, South Carolina, bringing its total assets under management to $1.6 billion.
The short answer
Highline Hospitality Partners has acquired the historic Westin Poinsett in Greenville, South Carolina. HEI Hotels & Resorts will manage the 200-room property, marking its first location in the state.
The short version
- Highline Hospitality Partners now oversees 19 wholly owned hotels and more than $1.6 billion in hospitality assets.
- HEI Hotels & Resorts enters South Carolina with its first managed property in the state.
- Westin Poinsett will undergo targeted renovations to all aspects of the property in the coming years.
Highline Hospitality Partners has acquired the 200-room Westin Poinsett in downtown Greenville, South Carolina, marking the investment platform's nineteenth hotel purchase. The new owners have appointed HEI Hotels & Resorts to operate the historic 11-story property, establishing HEI's first managed location in the state.
What does this acquisition mean for Highline's portfolio?
The purchase pushes Highline Hospitality Partners' total hospitality assets under management past the $1.6 billion mark. According to HospitalityNet, the firm now oversees a wholly owned portfolio of 19 hotels comprising more than 5,200 guestrooms. [2] The platform, which was launched by Highline Real Estate Partners, has maintained an active transaction pace this year. [2] The Westin Poinsett represents the company's third acquisition in recent months, following the additions of the Pittsburgh Marriott North in February and the Hilton DFW Lakes Executive Conference Center earlier in March. [2] Furthermore, Lodging Magazine reported that the Greenville, South Carolina transaction continues the firm's focus on established full-service assets. [3] Highline also provides third-party asset management services for four additional hotels on behalf of an institutional ownership group, bringing the total number of properties overseen by the firm to 23. [2]
| Property Name | Month Acquired | Acquisition Order (Year-to-Date) |
|---|---|---|
| Pittsburgh Marriott North | February | First |
| Hilton DFW Lakes Executive Conference Center | March | Second |
| Westin Poinsett | April | Third |
Why did Highline select HEI Hotels for management?
The appointment serves as the second management agreement between the two companies. Hotels Magazine noted that the Greenville contract expands the existing relationship between Highline and HEI Hotels & Resorts, while also serving as a geographic milestone for the operator. [1] The Westin Poinsett is HEI's first managed property in South Carolina. [1] Todd Roffman, partner and chief investment officer at Highline Hospitality Partners, stated the firm was part of a very small group of investors given the opportunity to pursue the asset. [2] Highline expects HEI to drive performance and unlock the property's full financial capabilities. [1]
What physical assets are included in the purchase?
The 11-story AAA Four Diamond hotel contains 200 guestrooms and nearly 10,000 square feet of meeting space. Located at 120 S Main St, one block from the Peace Center, the property features a full-service restaurant, a lobby bar, and a street-fronting coffee shop. [2] The meeting facilities include two 3,200-square-foot art-deco inspired grand spaces, known as the Poinsett Ballroom and the Gold Ballroom. [1] Constructed in 1925, the building holds a place on the National Register of Historic Places. [2] It underwent a renovation before reopening as a Westin in 2000 and was subsequently added to the Historic Hotels of America registry in 2002. [1]
Are there plans to upgrade the historic property?
Highline intends to execute targeted renovations across all aspects of the hotel in the coming years. According to HospitalityNet, the planned capital improvements aim to enhance the property's competitive positioning within the Greenville market. [2] Chuck Pomerantz, managing partner of Highline Hospitality Partners, noted the hotel's long history in the city and committed to assuming stewardship of its legacy. [2]
Reported by
This article was written from the following reporting. Follow the links for the original coverage.
- [1]HEI Hotels & Resorts Adds The Westin Poinsett to Portfolio— Hotels Magazine
- [2]Highline Hospitality Acquires Westin Poinsett in Greenville— HospitalityNet
- [3]Highline Hospitality Acquires Westin Poinsett Greenville— Lodging Magazine
Frequently asked
+Who bought the Westin Poinsett in Greenville?
Highline Hospitality Partners acquired the Westin Poinsett. It is the firm's 19th hotel acquisition and its third purchase this year.
+Who will manage the Westin Poinsett?
HEI Hotels & Resorts has been appointed to manage the property, marking the operator's first managed hotel in South Carolina.
+How many rooms does the Westin Poinsett have?
The 11-story hotel features 200 guestrooms.
+When was the Westin Poinsett built?
The property was originally constructed in 1925 and is listed on the National Register of Historic Places.
+How much meeting space does the hotel offer?
The hotel contains nearly 10,000 square feet of meeting space, which includes two 3,200-square-foot grand ballrooms.
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