Jones Lang LaSalle Arranges Sale of Hyatt Vineyard Creek
MARCH 9, 2007. On behalf of its client, Hyatt Vineyard Creek, LLC, and Rim Hospitality, Jones Lang LaSalle Hotels is pleased to announce the sale of the leasehold interest in the Hyatt Vineyard Creek to AEW Capital Management, L.P. and Noble Investment Group, LLC. The 155-guestroom hotel is an upscale, full-service hotel centrally located in Sonoma County wine country.
The Hyatt Vineyard Creek is located in the City of Santa Rosa, adjacent to Historic Railroad Square, the city's vibrant downtown retail core. This places the property in the heart of North America's most celebrated wine country. The area's diverse base of demand is supported by the foundation of high-end local corporate demand generators like Medtronic and Agilent Technologies.
"The Hyatt Vineyard Creek is an excellent centerpiece for Santa Rosa's dynamic urban revitalization," said John Strauss, executive vice president, Jones Lang LaSalle Hotels. "The strength of the Hyatt brand and the hotel's upscale service and amenities will allow the property to continue to operate at the top of its competitive market."
"The hotel offers a number of ways for the new owners to generate more cash flow and even increase the property's profile," said James Stockdale, vice president for Jones Lang LaSalle Hotels. "AEW Capital Management, L.P. and Noble Investment Group, LLC can seek to expand the Hyatt Vineyard Creek to create a more prominent group destination, and they can also implement ROI-driven projects like a spa expansion."
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