HEI Hotels & Resorts’ executives announced today that the corporation sold two-hundred plus suites in Embassy Suites Irvine—a hotel property near Orange County Airport which is located at southern California. HEI Hotels & Resorts is the country’s fastest rising private operator/owner of the hotel industry. HEI will continue its supervision of the property under the provisions of the business deal.
Hodges Ward Elliott’s Mark Elliott is the broker for the hotel property deal.
HEI’s president for development and acquisitions Steve Mendell stated that with the wide-ranging reconstruction that was finished in 2008, the company has realize its long-standing ownership dream for the hotel property.
He also added that with the combination of the company’s intimate and equal understanding of the market and the hotel, nevertheless, the company trusts that they will maintain the value of this hotel property as an intermediary manager.
The recently renovated hotel property is situated at 2120 Main Street, less than one mile from John Wayne Airport in Orange County and adjacent to Angel Stadium of Anaheim, Disneyland® Resort, and University of California at Irvine.
The hotel offers an onsite Ha’ Penny Grill and Pub, a whirlpool, enclosed swimming pool, business hub, and fitness center. It also offers breakfast each morning as a complimentary offer, as well as light snacks and beverages for the evenings at the Manager’s Reception in the entrance hall.
HEI chief financial officer Anthony Rutledge said that the hotel property will continue to make relationships with other hotel owners, as well as anticipated to working with new hotel owners in the future.