Evolution Hospitality & Argosy Real Estate Acquire 215-room DoubleTree by Hilton LAX - El Segundo
San Clemente, CA - February 20, 2014 - A partnership formed by an affiliate of Argosy Real Estate and senior principals of Evolution Hospitality acquired the DoubleTree by Hilton LAX - El Segundo on February 14. The hotel, which will be managed by San Clemente, CA based Evolution Hospitality, is located adjacent to Mattel Inc. headquarters in a 7.5 million square-foot corporate park and two miles from Los Angeles International Airport. It features 215 guestrooms, a full-service restaurant and bar, 4,500 square feet of meeting space and a heated outdoor pool and spa. A renovation to update the guestrooms, lobby and restaurant is planned for late 2014.
"DoubleTree by Hilton LAX - El Segundo has consistently shown a strong operating performance even during the recent economic downturn. We're excited to welcome the hotel's highly functioning associates to our family, and equally excited for our growing relationship with Argosy Real Estate," said John Murphy, president of Evolution Hospitality.
About Evolution Hospitality
Evolution Hospitality is a privately-owned, hospitality investment and management firm located in San Clemente, California. A sampling of Evolution-managed properties includes The Queen Mary Long Beach, Hilton Long Beach & Executive Meeting Center, Hard Rock Hotel San Diego, Hotel Adagio San Francisco, Hyatt Fisherman's Wharf San Francisco, Hotel MdR - A DoubleTree by Hilton in Marina del Rey, and Desert Princess Palm Springs Golf Resort. For more information, please visit www.evolutionhospitality.com.
About Argosy Real Estate
Argosy Real Estate specializes in opportunistic real estate investments, serving both institutional investors and high net worth individuals. Through joint venture structures, Argosy Real Estate partners with entrepreneurial real estate operating partners possessing significant local market knowledge, specific asset category experience and a demonstrated track record of operating success. Argosy Real Estate currently has in excess of $225 million in equity value of assets under management.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
