Acquisition Expands Renowned Hospitality
Developer's Portfolio; Indicates Future Growth in the United States
BOSTON, Oct. 31,
2023 /PRNewswire/ -- In a move signaling its
U.S. market expansion strategy, Parks Hospitality Holdings (PHH), a
leading hospitality developer and hotel owner, today confirmed the
acquisition of the strategically positioned Boston Park Plaza. Located at 50 Park Plaza in Boston's
central Back Bay neighborhood, the 1,060-key property will see the
property transition to Hilton Boston Park Plaza as part of a
post-acquisition rebranding initiative.
The architecturally impressive hotel features contemporary and
pet-friendly guestrooms and suites, two restaurants, a variety of
amenities, and 70,000 square feet of meetings and event space.
"Acquiring the celebrated Boston Park Plaza is a significant
milestone for Parks Hospitality Holdings," said Charles El-Mann Fasja, CEO at PHH. "This
addition to our irreplaceable hotel real estate portfolio marks a
new era of expansion for PHH, bringing our expertise in hospitality
development and investment from Mexico to locations across the U.S. We're
honored to continue expanding our partnership with Hilton with this
iconic project and have future plans to scale our presence across
other key U.S. cities."
Founded in 2006 by Charles El-Mann
Fasja, PHH affiliates' current portfolio includes over
11,000 hotel keys and more than 11,000 U.S.-based multifamily units
with an additional 2,000 under development (primarily in
Colorado, California, and other U.S. Southern
locations). PHH, the foremost real estate developer in Mexico, has showcased its ability to translate
its prowess to the U.S. market through a successful venture in
2018: an investment in the 285-key Grand Hyatt Vail. Under PHH's
stewardship, the resort underwent extensive renovations and
reopened in 2019, aligning seamlessly with its enduring commitment
to revitalizing the surrounding locality and fostering community
growth. Furthermore, PHH achieved the conversion of the property
into a distinguished brand hotel, Grand Hyatt Vail, previously
operating independently. In a testament to their ongoing commitment
to excellence, renovations continue, and a branded restaurant is
set to grace the property in December, enhancing its allure and
hospitality offerings.
As PHH expands its investment reach and strategy, it will
continue to work with Hilton and other partners to evolve and grow
in the U.S., Mexico, and
beyond.
Hilton Boston Park Plaza – At
a Glance
Location: Boston Park Plaza is located just
four miles from Boston Logan Airport, a block away from the
historic Boston Common, and steps from Boston Public Garden, the
Theater District, and the Arlington T Station.
Historic Significance: Opened in 1927 as The Statler
Hotel, this landmark has witnessed ownership changes, from
Conrad Hilton in 1954 to a local
family in 1976. Dignitaries, U.S. Presidents, and celebrities favor
it.
Accommodations: Home to 1,060 modern rooms, its design
celebrates New England's legacy. Unique suites like the
Presidential Suite and Garden Suite offer luxury with private
terraces, bars, and more.
Dining: Guests can delight in the signature restaurant,
Off the Common, or enjoy Italian delicacies at Strega Italiano. The
hotel also features an onsite Starbucks and a comprehensive room
service menu.
Amenities: With access to Lynx Fitness Club, guests have
20,000 square feet of health facilities. Unique offerings include
Boston's first Topgolf Swing Suite and the only Leica Store and Gallery in New England. A FedEx
Business Center caters to corporate travelers.
Event Spaces: Boasting 70,000 square feet, the hotel can
accommodate events of all scales. Its Grand Ballroom, complete with
Baccarat Crystal chandeliers, sets the scene. Alternative venues
like Avenue 34 offer a modern twist.
Loyalty Program: Boston Park Plaza offers the exclusive
Hilton Honors program, an award-winning guest-loyalty offering for
Hilton's distinct hotel brands. Members who book directly have
access to instant benefits, including a flexible payment slider
that allows members to choose nearly any combination of Points and
money to book a stay, an exclusive member discount, free standard
Wi-Fi, and the Hilton Honors mobile app.
To learn more about PHH, please visit https://phh.com.mx/.
To learn more about Hilton Hotels & Resorts, visit
stories.hilton.com.
About Parks Hospitality Holdings
Parks Hospitality
Holdings (PHH) is a world-class real estate developer founded in
2006 by Charles El-Mann Fasja. PHH
is Latin America's largest
full-service hotel developer, with 11,000 rooms developed and 3,000
more in the pipeline. Since its founding, PHH has successfully
developed more than 100 million square feet of real estate,
including mixed-use, high-rise office, high-rise residential,
commercial, industrial, and hotels. Led by CEO Charles El-Mann Fasja, Parks Hospitality
enhances the destination experience by building and spreading the
region's resilience by employing and sourcing directly from the
area. PHH is a significant employer and supporter of local
suppliers, uplifting the economy and fostering community
development. In addition to enhancing local economies, PHH is
deeply committed to environmental stewardship. Each property is a
testament to this dedication, reflecting a synergy between luxury
and environmental sustainability. From using eco-friendly materials
in construction to integrating green technologies, PHH ensures that
every venture makes a minimal environmental footprint while
offering an unmatched guest experience. The PHH portfolio includes,
but is not limited to, Conrad Tulum,
Waldorf Astoria Cancun, Hilton Cancun All Inclusive, Hilton Tulum
All Inclusive, Grand Hyatt Vail, and soon-to-be-completed Park
Hyatt Cancun and Grand Hyatt Cabo.
About Hilton
Hilton (NYSE: HLT) is a leading global
hospitality company with a portfolio of 22 world-class brands
comprising nearly 7,400 properties and more than 1.1 million rooms
in 124 countries and territories. Dedicated to fulfilling its
founding vision to fill the earth with the light and warmth of
hospitality, Hilton has welcomed more than 3 billion guests in its
more than 100-year history, earned a top spot on Fortune's 100 Best
Companies to Work For list and been recognized as a global leader
on the Dow Jones Sustainability Indices for six consecutive years.
Hilton has introduced several industry-leading technology
enhancements to improve the guest experience, including Digital Key
Share, automated complimentary room upgrades, and the ability to
book confirmed connecting rooms. Through the award-winning guest
loyalty program Hilton Honors, the more than 173 million members
who book directly with Hilton can earn Points for hotel stays and
experiences money can't buy. With the free Hilton Honors app,
guests can book their stay, select their room, check in, unlock
their door with a Digital Key and check out, all from their
smartphone. Visit stories.hilton.com for more information, and
connect with Hilton on Facebook,
Twitter, LinkedIn, Instagram and YouTube.
About Hilton Hotels & Resorts
For over a century,
Hilton Hotels & Resorts has set the benchmark for hospitality
around the world, providing new product innovations and services to
meet guests' evolving needs. With more than 600 hotels across six
continents, Hilton Hotels & Resorts properties are located in
the world's most sought-after destinations for guests who know that
where they stay matters. Experience a positive stay at Hilton
Hotels & Resorts by booking at hiltonhotels.com or through the
industry-leading Hilton Honors app. Hilton Honors members who book
directly through preferred Hilton channels have access to instant
benefits. Learn more about Hilton Hotels & Resorts at
stories.hilton.com/hhr, and follow the brand on Facebook, Twitter
and Instagram.
Contact: PHH@quinn.pr
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SOURCE Parks Hospitality Holdings
