Acquisitions & Hotel Openings

AJ Capital Partners Acquires Hotel Duncan in New Haven, Connecticut to Reopen in 2019 as Graduate New Haven

NEW HAVEN, CT. September 14, 2017 – AJ Capital Partners announced today that it has acquired the storied Hotel Duncan in New Haven, Connecticut. In spring 2018, the hotel will close for a comprehensive renovation and reopen in early 2019 as Graduate New Haven. Following the renovation, the five-story hotel will offer 72 rooms, a game room, lobby coffee shop and subterranean restaurant. Located on Chapel Street adjacent to Yale University’s campus, Graduate New Haven will be the ideal location for University visitors and those traveling to New Haven for its unique history and diverse businesses.

Prominently situated in the center of Yale’s Arts Campus, a half block from Yale Center for British Arts and The Yale University Art Gallery, the hotel is easily accessible to campus and downtown New Haven’s numerous bars, restaurants and boutiques. The hotel is also a short walk to Yale New Haven Hospital, one of the country’s most elite teaching hospitals.

Created for travelers who seek memory-making journeys, Graduate Hotels are part of a well-curated, thoughtfully crafted collection of hotels that reside in the most dynamic, university-anchored cities across the country. Every property celebrates and commemorates the optimistic energy of its community, while offering an extended retreat to places that often played host to the best days of our lives. Locations include Ann Arbor, Mi.; Athens, Ga.; Berkeley, Ca.; Charlottesville, Va.; Lincoln, Ne.; Madison, Wi.; Oxford, Ms.; Richmond, Va and Tempe, Az., as well as Bloomington, In.; Iowa City, Ia.; Minneapolis, Mn.; Seattle, Wa.; and New York City’s Roosevelt Island as part of the Cornell Tech campus are slated to open in 2018 and 2019.

"We are thrilled to announce the acquisition of the Hotel Duncan,” says Tim Franzen, President of Graduate Hotels. “Built in 1894, the hotel has been a prominent fixture in the New Haven community. We look forward to celebrating some of the hotel’s treasured history, restoring and reintroducing the community to parts of the hotel that have been lost over time, and bringing Graduate Hotels to New Haven. We are truly honored to be stewards of this precious gem for many, many years to come.”

The hotel will undergo a comprehensive renovation, which will touch all guestrooms, common areas, and the hotel lobby, as well as preserving the hotel’s manually operated elevator – the oldest in the state. In addition, Graduate Hotels will introduce a lobby coffee shop, as well as a sophisticated game room and lounge in the hotel’s former ballroom.

For more information on Graduate Hotels, please visit www.graduatehotels.com.

About AJ Capital Partners

Adventurous Journeys Capital Partners, based in Chicago, is an accomplished team of hospitality and real estate investors whose innate passion is to create a one-of-a kind portfolio of timeless assets. The counter-culture investors acquire, design and develop transformative real estate throughout the United States, Mexico, and the Caribbean. In fall 2014, AJ Capital Partners launched the Graduate Hotels collection. AJ Capital Partners continues to grow its portfolio of lodging investments, firmly establishing the group as visionary leaders in the lifestyle-driven investment industry. For more information on AJ Capital Partners, please visit www.ajcpt.com.

Contact:
Meg Connolly Communications
graduate@mcc-pr.com
212.505.8200

Coming Up In The October Online Hotel Business Review




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Feature Focus
Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.