Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners, has acquired the Westin Poinsett in Greenville, SC.
The transaction marks the company’s 19th hotel acquisition and its third this year, following the acquisition of the Pittsburgh Marriott North in February and the Hilton DFW Lakes Executive Conference Center earlier in March.
Constructed in 1925 and included on the National Register of Historic Places and the Historic Hotels of America registry, the 11-story hotel contains 200 guestrooms, a full-service restaurant and lobby bar, a street-fronting coffee shop and nearly 10,000 sq. ft. of meeting space, including two 3,200-sq.-ft. art-deco-inspired grand ballrooms.
HHP has engaged HEI Hotels & Resorts to manage the hotel, marking the second strategic partnership between the two firms.
“We are pleased to add the Westin Poinsett to our portfolio and to expand our relationship with HEI,” said Chuck Pomerantz, managing partner, HHP. “As one of Greenville’s most iconic properties, the hotel has played a meaningful role in the city’s history for many decades, and we look forward to assuming the stewardship of its legacy to ensure it remains a vital part of the community for years to come.”
Todd Roffman, partner/CIO, HHP, added, “We were fortunate to be one of a very small group of investors afforded the opportunity to pursue the potential acquisition of the Westin Poinsett, thanks to the track record we have built over the years. We understand the hotel’s significance to the city of Greenville, and we are excited to be a part of writing its next chapter.”
In the coming years, HHP plans to pursue targeted renovations across all aspects of the hotel to enhance its competitive position in the Greenville hospitality market.
With this acquisition, HHP now oversees a portfolio of 19 hotels comprising over 5,200 guestrooms and more than $1.6 billion in hospitality assets under management. In addition, the firm provides third-party asset management services for four additional hotels on behalf of an institutional ownership group, bringing the total number of hospitality properties overseen by HHP to 23.
