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Acquisitions & Hotel Openings

HRI Properties Set for December Debut of the 191-Room Holston House Opening as Part of Hyatt's Unbound Collection in Nashville

NASHVILLE, TN. August 29, 2017 – HRI Properties, LLC proudly announces the naming of the Holston House hotel expected to open December 2017 in the heart of downtown Nashville, Tennessee. Located within an iconic 88-year-old art deco building at 118 Seventh Avenue North, just one block from the renowned Lower Broadway area, Holston House will provide guests with the ideal location to explore the vibrant streets and many unique destinations of Nashville. When the property debuts in December, it will join The Unbound Collection by Hyatt, a collection of unique, story-worthy stay experiences.

The 191-room hotel will feature six suites, including two signature 12th floor Bungalow Suites, a fitness center, and a series of food and beverage offerings including a lobby lounge and rooftop bar. Holston House will feature 3,000 square-feet of flexible meeting and event space, which includes ample function space on the first level, a boardroom, and a 439 square-foot skyline room with a private terrace, bungalow bar and folding glass doors leading out to the rooftop pool.

The hotel’s interior will be updated to complement the exterior’s art deco details and honor the buildings historic craftsmanship. To create a dynamic space that is both classic and decadent, richly crafted furniture and textures will be layered with traditional forms using warm locally sourced materials to capture the rugged modernism of today’s Nashville.

“Nashville has become a hot spot for travelers in the U.S. and abroad, and we’re excited to offer visitors and locals alike a uniquely decadent, personalized and authentic experience in the heart of Nashville,” says Peter Tziahanas, general manager, Holston House. “Holston House will provide luxurious touchpoints while highlighting our hometown’s soulful energy and signature sense of adventure.”

“We are excited to soon introduce Holston House as one of the newest properties within The Unbound Collection by Hyatt," said George Vizer, global vice president, franchise operations, Hyatt. “The brand sets out to turn guests into storytellers, providing them with new adventures and authentic experiences.”

Encompassing the rhythm of Nashville, Holston House will introduce three culinary and cocktail experiences. This includes an independently owned signature restaurant, a spacious lobby bar and lounge along with a dynamic roof top pool bar. Holston House will be located at 118 7th Avenue North, Nashville, TN 37203. To learn more please email info@holstonhousenashville.com.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one more of its affiliates.

About HRI Properties

HRI Properties, LLC (“HRI”) is a leading diversified owner and manager of premium branded and independent hotels and upscale apartment in top U.S. markets. Since 1982, HRI and its predecessor have completed more than 80 projects with a total funding value of over $2.5 billion which include over 5,000 apartment units, over 5,000 hotel rooms, and more than 1.4 million square feet of office and retail space. HRI Lodging, a wholly owned subsidiary of HRI, provides hotel management services for both HRI owned and third party property owners. HRI Lodging operates 26 hotels and is an approved operator for premium branded and independent hotels. HRI is a full-service real estate development company, with in-house architectural design and construction management capabilities and is a national leader in the adaptive reuse of historic structures. As the re-urbanization trend in the U.S. continues, we are committed to Elevating the Urban Experience by developing, acquiring and managing high quality real estate located within “walkable” urban neighborhoods where people want to live, work and play. For more information, please visit our website at www.hriproperties.com.

About The Unbound Collection

The Unbound Collection by Hyatt is a portfolio of new and existing upper-upscale and luxury properties, ranging from historic urban gems to contemporary trend-setters, boutique properties to resorts. Whether it is a fascinating past, an exclusive location, famous architecture and design, or an award-winning dining experience, the properties in the collection provide guests with “social currency” and allow them the freedom to be unique. Current properties include The Driskill Hotel in Austin, Texas, The Coco Palms Resort in Kauai, Hawaii, which is expected to undergo a revitalization and re-open in spring 2018, The Royal Palms in Phoenix, Arizona, The Confidante in Miami Beach, Florida, the Hotel Du Louvre in Paris, France and Carmelo Resort & Spa in Uruguay. For more information, please visit unboundcollection.hyatt.com. Follow @UnboundxHyatt on Facebook and Instagram.

Contact:
HolstonHouse@dkcnews.com
(212) 685-4300

FORWARD-LOOKING STATEMENTS Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause our actual results, performance or achievements to differ materially from current expectations include, among others, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; the possible inability of third-party owners, franchisees or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the U.S. Securities and Exchange Commission. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.