Embassy Suites by Hilton Atlanta Midtown — Photo by HEI Hotels

NEW YORK - Certares Management LLC a leading investment specialist dedicated to the travel, tourism and hospitality sectors (together with its affiliates, "Certares"), in partnership with Highlands Investments LLC ("Highlands") and Monomoy Property Ventures LLC ("MPV"), today announced the acquisition of the 181 key, new-build Embassy Suites Atlanta Midtown located at 290 17th Street NW in Midtown Atlanta, Georgia. The deal also included the acquisition of an adjacent land parcel and an income-producing parking component. 

Located in the Atlantic Station area of Midtown, the all-suites property features a lobby bar, restaurant, large fitness area and pool, along with 2,600 square feet of meeting space. The rooms average approximately 500 square feet, and each has a private kitchenette and separate living room area. The hotel sits adjacent to Microsoft's new eastern U.S. headquarters and near Georgia Tech's main Atlanta campus. HEI Hotels & Resorts ("HEI"), a leading hospitality management company that owns and/or operates 84 hotels and resorts throughout the United States, has been selected to operate the property.

Nolan Hecht, Senior Managing Director & Head of Real Estate at Certares, said, "We are thrilled to acquire this brand-new asset in the heart of Atlantic Station. Midtown Atlanta is the city's preeminent submarket for technology and healthcare talent recruitment and is seeing an array of corporate relocations and expansions. We look forward to working closely with Highlands, MPV and HEI to ensure the property delivers a great experience to its guests."

Jordan Kary, Founder and Principal of Highlands, added, "We are big believers in both Atlanta and, more specifically, the Midtown Atlanta submarket, and we are excited to acquire this high-quality hotel together with Certares, MPV and HEI. The property's location together with its all-suites rooms and amenity offerings makes the asset well-positioned for outsized growth. We look forward to continuing to identify opportunities to acquire great pieces of real estate at attractive values and working to ensure best-in-class operations and oversight."

"High-quality real estate structured off-market from a motivated seller, in an excellent location within a growth MSA, the Embassy Suites Atlanta Midtown is illustrative of the types of investments MPV is successfully targeting as we establish our business," said Kevin Vaughan, Founder of MPV. Vaughan added, "We look forward to building on a close relationship with Certares, Highlands, HEI and Hilton as we execute on our business plan at this asset, and to participating in the substantial ongoing growth in the midtown Atlanta business community."

About Certares Management LLC

Established in 2012, Certares focuses on direct investments in proprietary transactions, leveraging deep sector experience in the travel and hospitality industries, and with a consistent emphasis on partnership with management teams to drive growth. Certares brings together a team with decades of both operational and investment experience in private equity, travel, tourism, hospitality and travel-related business and consumer services. For more information, please visit www.certares.com.

About Highlands Investments LLC

Founded in 2020, Highlands Investments LLC is a New York-based real estate investment and asset management company that employs a value approach to investing and targets select product types and geographic regions across the United States and Canada. Prompted by the shifting dynamics in the global real estate industry, the company's primary objectives include sourcing and negotiating target driven acquisition opportunities and managing investments throughout their lifecycle. Highlands focuses on identifying opportunistic acquisitions at attractive values with the potential to enhance returns at the asset level through operational improvements and through long-term economic recovery. To learn more, visit https://www.highlandsinv.com/.

About Monomoy Property Ventures LLC

Monomoy Property Ventures (MPV) is a New York-based real estate investment, development and management firm with an extensive track record sourcing, acquiring and redeveloping lodging assets. MPV purchases land parcels and existing buildings in enduring, high-barrier locations in select resort and urban markets in the United States. Through physical and operational repositioning or ground-up construction, MPV seeks to improve buildings, destinations, neighborhoods and the built environment while providing attractive financial returns to our company and investment partners. Through current and prior ventures, Principals of MPV have executed on over $1.4 billion of lodging investments across 23 hotels. For further information, please visit www.MonomoyPropertyVentures.com.

About HEI Hotels & Resorts

HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates more than 100 luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States. HEI's branding partners include Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. The company has ample equity capital and strategically co-invests with its partners on many transactions. To learn more about HEI, please visit www.heihotels.com.