Regent Hotels & Resorts to Return to North America with Development of Two New Properties with Cottonwood Management
Regent Hotels & Resorts has signed a strategic partnership agreement with the prominent North American real estate development and management company Cottonwood Management. The agreement will see Regent Hotels & Resorts return to the North American market following a ten year absence with the launch of two new mixed-use developments in Boston, under its booming Seaport District and New York City on Fifth Avenue.
Regent Hotels & Resorts has signed a strategic partnership agreement with the prominent North American real estate development and management company Cottonwood Management. The agreement will see Regent Hotels & Resorts return to the North American market following a ten year absence with the launch of two new mixed-use developments in Boston, under its booming Seaport District and New York City on Fifth Avenue.
Plans are progressing for Cottonwood's Boston development, which will span over one million square feet. The completed project will include three towers consisting of approximately 900,000 square feet of residential space, including Regent branded residences and serviced apartments along with 125,000 square feet of retail space, all anchored by a central courtyard which will serve as the focal point for the development. Regent will also launch in Boston its new Dining Club concept; a social club that will offer residents and hotel guests a fine dining experience and a luxurious place for relaxation.
"We have always enjoyed a strong brand presence in the US market as a result of our original properties in New York City, Boston, Chicago and Beverly Hills. The Regent Beverly Wilshire as appeared in the movie Pretty Woman is testament to Regent's preeminent status as the leading hotel for stars and celebrities seeking timeless classics, bespoke luxuries and discreet guest services. We have intended to return to Regent cities in the US and are happy to find the rightful partnership through Cottonwood Management," says Steven Pan, Chairman of Regent Hotels & Resorts.
"Regent is a global brand that is synonymous with hospitality. It has a rich history in the North American market and demonstrates a thorough understanding of contemporary luxury with a global sensibility, making them a natural partner for us to unlock the value of Cottonwood Management's real estate platform. I very much look forward to working with Steven Pan and his expert team to bring forth the best of the Regent DNA to our properties," says Alexander Shing, Chairman and Founder of Cottonwood Management.
Regent Boston residences and serviced apartments are expected to commence development in Fall of 2016.