AJ Capital Partners Acquires Iconic Hotel Durant in Berkeley, California
BERKELEY, CA. September 10, 2015 - AJ Capital Partners announced today that it has acquired the iconic Hotel Durant in Berkeley, California. The historic hotel is located next to the University of California at Berkeley ("Cal") and is the closest hotel to California Memorial Stadium and the storied Greek Theater. In 2016, the Hotel Durant will become part of the Graduate Hotel collection.
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 towns 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. Additional locations include Oxford, MS; Charlottesville, VA; Madison, WI; Athens, GA; Tempe, AZ; Richmond, VA and Durham, NC are slated to open in 2016.
Located one block from vibrant Telegraph Avenue, the hotel is ideally situated amongst a myriad of restaurants, bars and eclectic boutiques. The property features 143 guestrooms - many of which offer commanding views of the San Francisco Bay Bridge and the Campanile. The hotel offers three meeting and event rooms and is home to the venerable Henry's restaurant and pub - a prominent fixture in the Berkeley social community for over 87 years.
"We are incredibly proud to announce the acquisition of Berkeley's Hotel Durant," says Ben Weprin, CEO of AJ Capital Partners. "In furtherance of our strategy to acquire culturally relevant, supremely located real estate adjacent to the nation's leading universities, Hotel Durant was a natural fit for the Graduate portfolio. We look forward to being stewards of this Berkeley icon."
In the coming months, Graduate Hotels will embark on a soft goods renovation that will further enhance the hotel's guestrooms and common areas. In addition, Henry's will receive an updated menu, aesthetic refresh and expanded calendar of social events. Gemstone Hotels and Resorts will continue to manage the property after the acquisition.
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 counterculture 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 brand. 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:
Amy Stahulak
amy@thedooronline.com
708-945-5970
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 
