HEI Adds Renaissance Meadowlands Hotel to Portfolio
HEI Hotels & Resorts, one of the nation's leading operators of institutionally owned hotels, has added the Renaissance Meadowlands Hotel to its portfolio. HEI's growing portfolio of independent and branded hotels and resorts throughout the United States now numbers more than 100 total properties, including 10 union operated hotels in the greater New York City area.
The Renaissance Meadowlands was acquired by a joint venture between HEI and Westport Capital Partners. It marks HEI's first partnership with Westport.
The Renaissance Meadowlands has 167 guestrooms, Finch's Restaurant and Lounge, which features farm-to-fork taste of the times with modern American cuisine, a fitness center and approximately 5,700 sq. ft. of meeting space.
"Located near the American Dream, the Meadowlands Stadium (where 8 FIFA World Cup games will be played in 2026) and with close proximity to Teterboro airport, the Renaissance Meadowlands is the best full-service hotel product in the submarket," said Anthony Rutledge, CEO at HEI. "We are excited to build a new partnership with Westport Capital Partners as we work to align our mutual objectives to maximize value of institutional-quality assets."
"The Renaissance Meadowlands is a fantastic property in a prime location, and we are looking forward to leveraging these features to reinforce its position as one of the market leaders and also to building a relationship with HEI," said Sean Armstrong, Managing Partner, Westport Capital.
About Westport Capital PartnersWestport Capital Partners is a private real estate investment firm focused on long-term value creation through investments in select properties, operating companies, securities, and other real estate related assets. Westport specializes exclusively in real estate investing, with the goal of generating consistent and attractive risk-adjusted returns through a wide range of investments and across all market cycles.
To learn more about Westport Capital Partners, please visit www.westportcp.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.
