Highline Hospitality Partners Announces Acquisition of Doubletree by Hilton Hotel Portland and Tru by Hilton Portland Airport Area
Hospitality Investment Firm Adds Two Portland, Maine Properties to Its Portfolio
Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has acquired the DoubleTree by Hilton Hotel Portland and Tru by Hilton Portland Airport Area in a strategic partnership with ADËLON Capital, a real estate investment, development and asset management firm. Bringing HHP to eight properties within its portfolio, the two neighboring hotels are adjacent to the largest mall in Maine, the Portland International Jetport and the I-95 interchange in the heart of Portland's retail corridor.
HHP's team has over 60 years of combined experience across sourcing, purchasing, asset-managing, renovating, repositioning and selling hospitality properties, and it has operated all classes of hotels.
"We are thrilled to add both the DoubleTree by Hilton Hotel Portland and Tru by Hilton Portland Airport Area to our expanding portfolio," said HHP's Managing Partner, Chuck Pomerantz. "With Portland being the largest city and economic capital in Maine, we are proud to be a part of the booming market alongside our new partner, ADËLON Capital."
DoubleTree by Hilton Hotel Portland has 220 rooms and 13,446 square feet of meeting rooms. The pet-friendly property features an on-site restaurant, indoor pool and fitness center. Tru by Hilton Portland Airport Area has 98 rooms and was recently built in 2017. In addition to being pet-friendly, the hotel offers amenities such as a fitness center, business center and airport shuttle for guests.
"With the acquisition of these hotels, we keep moving forward with our growth strategic plan of adding great quality properties to our portfolio," said CEO & Founder at ADËLON, Guillermo Buitano. "We are confident in our partnership with Highline Hospitality Partners and value their high-quality standards."
Both properties are in proximity to major Portland businesses and organizations such as the Maine Medical Center, The Portland Sports Complex, Texas Instruments, Maine Mall and UnumProvident Life Insurance Company, in addition to two significant universities: University of New England and University of Southern Maine. They are also only a short drive to the Portland downtown hub and the historic Old Port district.
In addition to enticing business travelers, Portland's ornate mansions and ocean views make it a charming city that attracts many tourists. Scenic cruises and whale watches are popular events, as well as ferry rides to the islands of Casco Bay and viewing the Portland Head Light, the oldest lighthouse still in continuous use in the United States. The city is also home to three minor league teams: Portland Sea Dogs, The Maine Celtics and GPS Portland Phoenix.
DoubleTree by Hilton Hotel Portland is located at 363 Maine Mall Road South Portland, Maine 04106. For reservations and more information, visit https://www.hilton.com/en/hotels/rllc-dt-doubletree-portland.
Tru by Hilton Portland Airport Area is located at 369 Maine Mall Road South Portland, Maine 04106. For reservations and more information, visit https://www.hilton.com/en/hotels/pwmruru-tru-portland-airport-area.