Home Hotel management Monarch Alternative Capital Expands Orlando Hotel Portfolio Through Multiple Acquisitions

Monarch Alternative Capital Expands Orlando Hotel Portfolio Through Multiple Acquisitions


NEW YORK and LONDON, July 13, 2022 /PRNewswire/ — Monarch Alternative Capital LP, a leading investment firm with approximately $9.4 billion of assets under management, announced the purchase of three hotels in Orlando Florida. Given the company’s established reputation in the market, Monarch was able to acquire the high quality newly constructed properties located at Orlando sub-markets adjacent to existing Monarch hotels at below replacement cost in off-market transactions. Through these acquisitions, Monarch’s hotel portfolio in Orlando now totals around 2,000 keys across seven properties. As the Orlando continues to show encouraging signs of economic recovery, these hotel purchases illustrate Monarch’s ability to identify and invest in high-end properties in an attractive and dynamic market that is poised to outperform as the economic cycle evolved.

Monarch has purchased Aloft Orlando (“Aloft”) and Holiday Inn Express & Suites Orlando (“Holiday Inn Express”), both located in Lake Buena Vista sub-market near Disney World. In addition, the company acquired the TownePlace Suites Orlando (“TownePlace Suites”) located in the Universal Studios submarket. In total, the three properties represent more than 430 keys. Compared to other limited-service hotels, each asset offers an upscale room product, multiple food and beverage options, an outdoor pool, and an on-site fitness center. Additionally, the Aloft and Holiday Inn Express combined have over 2,700 square feet of meeting and banquet space, which can be used for additional events, special occasions, and business needs.

The three newly acquired properties are located near or along International Drive, providing guests with easy access to major nearby attractions including Disney World theme parks, the Orange County Convention Center, SeaWorld and Universal Studios. Both Aloft and Holiday Inn Express are affiliated with the Walt Disney World Good Neighbor Hotel program, and TownePlace Suites is a Preferred Universal Partner hotel, which allows hotels to offer additional benefits to Disney World theme park guests. and Universal, respectively. Monarques believes that these acquisitions will further strengthen its Orlando portfolio given the location of the properties in desirable sub-markets and the high product offering.

Ian GlasteinManaging Principal and Co-Head of Real Estate at Monarch said, “We remain very excited about the opportunity Orlando market, and these recent hotel additions reflect our belief Orlando as a market well positioned for recovery and continued growth. Additionally, this combination of assets allows us to leverage our existing presence and generate incremental revenue and cost synergies while continuing to scale our portfolio in the market.”

Monarch has partnered with HHM, a leading hotel management, investment and development firm with more than 185 hotels in 30 states, to operate and manage the portfolio.

About Monarch Alternative Capital LP

Monarch Alternative Capital LP is a global investment firm founded in 2002 with approximately $9.4 billion in assets under management. Monarch primarily focuses on opportunistic and distressed situations in corporate debt, real estate, special situations and other market segments. Monarch relies on the skills and experience of its employees in its offices in New York and London. For more information, please visit www.monarchlp.com.

About Hersha Hospitality Management (HHM)

HHM is an award-winning hotel management and investment firm that operates more than 185 full-service and select-service hotels in 30 states and virtually every major hotel market coast-to-coast. HHM is a leading manager of Marriott and Hilton hotels, while operating more than 30 independent hotels ranging from the Rittenhouse Hotel to philadelphia cream at the Joule hotel in dallas at the Whitney Hotel in Boston. HHM’s highly experienced and stable operating team is known for being nimble, accountable and entrepreneurial in the way it drives industry-leading results for owners, including publicly traded companies, private equity firms and family office investors. Additional information about HHM can be found at www.hhmhospitality.com and www.independentcollection.com.

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SOURCE Monarch Alternative Capital LP