"Destination Hotels & Resorts has for some time been looking to enter the bustling Boston real estate arena, but we were waiting for the right opportunity," says Allen Goodman, regional vice president and marketing at the company. "The site at 90 Tremont St. fits well with DH&R's philosophy of acquiring distinctive properties in key markets where we believe we can enhance a neighborhood and offer a quality one-of-a-kind asset to our potential customers."

Paul L. Palandjian, president of Intercontinental Real Estate, says DH&R was selected because of its experience and success in managing "one-of-a-kind destinations with independent identities." DH&R manages 28 upscale luxury hotels and resorts in nine states. Its management portfolio includes more than 7,000 rooms, 13 golf courses and three-full-time spas. Properties include the Hotel del Coronado near San Diego; the Washington Monarch Hotel in Washington, DC; the Royal Palms Hotel & Casitas in Phoenix; and the Vail Cascade Resorts and Spa in Vail.