Hospitality Investors Combine to Purchase and Operate the Carté Hotel San Diego Downtown
New York, NY, July 01, 2024 (GLOBE NEWSWIRE) — 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.
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About Certares
Established 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 Hotels
HHM 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.
CONTACT: HHM Investments (215) 238-1046 hhminvestments@hhmhotels.com Certares Management LLC (212) 624-2940 investor-relations@certares.com
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