The company was not actively marketed; however, Hill approached the senior management team about acquiring Davidson Hotel when he decided to move on to new ventures. The key partners and officers in the new ownership are John A. Belden, president and CEO; Patrick F. Lupsha, chief operating officer; and Steven A. Margol, executive vice president-business development. Davidson Hotel will retain its name.
Bridgepoint Hospitality is Davidson's key institutional investor. Bridgepoint is an investment vehicle formed specifically for hospitality management companies. Its largest investors are Nationwide and New York Life, according to a release from Davidson Hotel.
"All the senior management team will remain with the company, so the ownership will be largely transparent to our hotel owners and guests," Belden explains.
"We have strong relationships with a number of major institutional investors who seek to expand their portfolios and will work closely with them to identify acquisition opportunities in the three-star and four-star segments," he adds.
Davidson Hotel Co. owns and/or manages 25 upscale hotels with more than 7,500 rooms and 3,900 employees in 14 states and Washington, DC. The properties fly under the Doubletree, Embassy Suites, Marriott, Hilton, Radisson, Renaissance, Sheraton and Westin flags. The company was formed as Flautt and Mann Properties in 1974, with a focus on small, mid-scale hotels in the Southeast. It changed its names to Davidson Hotels in 1990.
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