Highline Hospitality Partners Announces Acquisition of the Homewood Suites by Hilton Eatontown
Hospitality Investment Firm Adds 131-Room Extended-Stay Property to Its Growing Portfolio
Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has acquired the Homewood Suites by Hilton Eatontown. The 131-room, extended-stay hotel, which is HHP's eleventh property, is located in Eatontown, NJ in close proximity to the Jersey Shore beaches, major hospital systems, sports complexes and universities. The hotel is also located near Fort Monmouth, a decommissioned army base that is in the process of undergoing a transformational redevelopment.
Highline Hospitality Partners' team has more than 60 years of combined experience across sourcing, purchasing, asset-management, renovating, repositioning and selling hospitality properties, and it has operated all classes of hotels.
"We are excited to add the Homewood Suites by Hilton Eatontown to our hospitality portfolio" said Highline Hospitality Partners' Managing Partner, Chuck Pomerantz. "This acquisition represents our first acquisition in the state of New Jersey, and a further diversification of our portfolio with the addition of another extended-stay hotel which brings our total portfolio to 11 hotels comprising approximately 3,200 keys."
The Homewood Suites by Hilton Eatontown was developed in 2004 and features oversized guestrooms (all of which are suites and include a full kitchen and sleeper sofa), complimentary daily breakfast, an outdoor pool and patio area equipped with fire pits and a stone-enclosed grill station, multiple meeting rooms, an oversized fitness center equipped with Peloton equipment, and ample on-site parking. Highline Hospitality Partners selected Avion Hospitality as the hotel's third-party manager. Founded in 2022 by Robert Burg, Avion's managed portfolio encompasses 14 hotels with the Homewood Suites Eatontown marking the inaugural partnership between Highline and Avion.
The Homewood Suites by Hilton Eatontown is located at 4 Industrial Way E, Eatontown, NJ 07724. For reservations and more information, click here.
About Highline Hospitality Partners
Highline Hospitality Partners sponsors and makes investments in full and select-service hotels and resorts throughout the United States. HHP is run by an experienced, cycle-tested, principal investment team with in-depth hotel management and operating experience. HHP pursues investments where it can significantly impact value through the implementation of an operating agenda or where its operational insights and execution capabilities give it unique market and asset-level advantages. HHP's most distinguishing attribute-we combine the judgment and value creation of an experienced strategic buyer with the execution capabilities of an experienced financial buyer. For more information, please visit www.highlinehp.com.
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