borrower to place a three-year, floating-rate loan with Aareal Bank. Loan proceeds will be used to purchase the hotel and implement a property improvement plan that will include rebranding it as a Marriott Renaissance Hotel, Marriott's upscale lifestyle hotel brand. The HFF debt placement team representing the borrower was led by managing director James Fowler.

We spoke with Gallagher about hotel amenities and the factors that distinguish top-tier hotels from other levels of hospitality.

GlobeSt.com: What amenities are most important to guests?

Gallagher: Today's travelers are seeking hotel amenities that improve the overall guest experience, offer convenience and create a personalized stay. The Duke Hotel Newport Beach is a lifestyle property that presents a variety of quality amenities that appeal to a wide customer demographic and market segment including business, group and leisure travelers, as well as locals.

All of our visitors really enjoy the hotel's luxury guest rooms and suites with useful in-room amenities and upgraded bath products. Being located adjacent to John Wayne Airport is also a convenient feature for both business and leisure getaways. The elevated culinary offerings are very much valued by our guests including two on-site restaurants that feature excellent seasonal cuisine and special holiday menus that even attract locals, in addition to a full bar and elevated in-room dining and creative catering.

Distinctive event facilities including 42,000 square-feet of event space with 27,000 square-feet of outdoor function space along with dedicated concierge services and event planners create memorable experiences for myriad occasions, including weddings.

Additional unique amenities that appeal to our guests at The Duke Hotel Newport Beach are robust from a rooftop pool with cabanas, an 8,000 square-foot spa, bocce court, tennis/sport courts, wedding gazebo and state-of-the-art fitness center.

GlobeSt.com: What distinguishes a top-tier hotel from other levels?

Gallagher: Distinguishing features of top-tier hotels include quality of service, on-site amenities that matter to guests, top-notch food and beverage programs and restaurant concepts, hotel design features, room accommodations and unique guest touch points. A cohesive brand that offers an authentic and memorable experience to guests is the key.

GlobeSt.com: What should owners and operators do to ensure the hotel's continued success?

Gallagher: Understand their customer. To achieve sustainable, long-term success, hotel owners and operators must develop a deep understanding of the customer it wants to attract, then offer an experience that is tailored to that group. Today's traveler's demand choice, flexibility, and most important, authenticity. We need to be committed to delivering an unparalleled guest experience. This is achieved through a deep understanding of today's traveler, their needs and expectations, knowledge of our markets to showcase unique offerings, well executed principles including service specifications and purposeful energy to dedicate time and effort on areas that will have the greatest impact of guest satisfaction.

NEWPORT BEACH, CA—A cohesive brand that offers an authentic and memorable experiences to guests is the key to a top-quality hotel, Crescent Hotels and Resorts' EVP sales and marketing Dawn Gallagher tells GlobeSt.com.

Crescent was selected as manager of the Duke Hotel Newport Beach, an upscale, lifestyle hotel. Formerly the Fairmont Newport Beach, the property will undergo a multi-million-dollar renovation and convert to the Renaissance Newport Beach in early 2018. News sources report that Sunstone Hotel Investors recently sold the Fairmont Newport Beach for $125 million to an undisclosed buyer.

The Duke Hotel Newport Beach began accepting reservations as a Marriott-affiliated “White Label” hotel in March of this year. The Duke and, eventually, the Renaissance Newport Beach, will be positioned and operated under Crescent's Lifestyle division, “Latitudes, Lifestyles by Crescent.”

In addition, HFF secured $81.3 million in acquisition/bridge financing for the property on behalf of the

borrower to place a three-year, floating-rate loan with Aareal Bank. Loan proceeds will be used to purchase the hotel and implement a property improvement plan that will include rebranding it as a Marriott Renaissance Hotel, Marriott's upscale lifestyle hotel brand. The HFF debt placement team representing the borrower was led by managing director James Fowler.

We spoke with Gallagher about hotel amenities and the factors that distinguish top-tier hotels from other levels of hospitality.