AWH Partners and Funds Managed by Apollo Global Management Acquire DoubleTree Anaheim – Orange County
AWH Partners, LLC and funds managed by a subsidiary of Apollo Global Management, Inc. (NYSE:APO) have acquired DoubleTree by Hilton Hotel Anaheim - Orange County. As a result of the deal, Spire Hospitality has taken over management of the property from Hilton Worldwide Holdings Inc. The financial terms of the transaction were not disclosed.
"This acquisition, which took almost 12 months from agreement to closing and included assuming existing debt, required discipline and focus through much of the pandemic," said Russell Flicker, co-founder and managing partner of AWH Partners. "The property's adjacency to prominent travel destinations and the Anaheim Convention Center, one of the market's largest demand engines, positions DoubleTree by Hilton Hotel Anaheim - Orange County for success. We expect this property to outperform its competitors as we complete a fulsome renovation and corporate demand in the city resumes."
The 461-key property has a fitness center, room services, a business center, an outdoor pool, and a tennis court. There are several dining options on the property, including 1Hundred, a lobby bar with big screen sports entertainment; KoffeeKITCHEN, an urban kitchen serving locally-sourced produce and Starbucks coffee; and Trofi Restaurant & Bar, which serves fine California cuisine.
DoubleTree by Hilton Hotel Anaheim - Orange County has 31,982 square feet of indoor and outdoor event space across two floors and 20 meeting rooms in total.
Adjacent to the UCI Medical Center, the property is in proximity to Angel Stadium of Anaheim, Disneyland / Disneyland California Adventure, and the Anaheim Convention Center.
"Anaheim is a year-round destination for leisure, corporate, medical, convention, and group travel, with a robust economy," said Dan Kwon, real estate private equity partner at Apollo. "This is a centrally located property in a high-growth submarket, with proximate demand drivers and ongoing development."