(CHICAGO) February 18, 2016 – Waterton, a U.S. real estate investor and operator, today announced it has been appointed manager of The Aloft Beachwood, a 135-key hotel in Beachwood, Ohio – approximately 12 miles east of downtown Cleveland. The management agreement is the first between Waterton and the hotel’s owner, Boutique Hotel LP, which built the property in 2013.
“We look forward to leveraging our experience with the Aloft brand as we enter into this new partnership with Boutique Hotel LP,” said Mark Zettl, chief operating officer at Waterton. “Aloft Beachwood’s contemporary flair, reflected in its colorful interiors and vibrant social atmosphere, make it a unique offering in Cleveland’s suburban hotel market. By making strategic improvements to the property, we’re confident we can maintain its position as the go-to destination for in-the-know travelers who want their hotel to be more than just a place to sleep.”
Located at 1010 Eaton Blvd., Aloft Beachwood is part of the 630-acre Chagrin Highlands corporate center, a master planned development along Interstate 271 that includes a mix of office, medical and retail space. Just 25 minutes from Cleveland Hopkins International Airport, the hotel is adjacent to Eaton Corp.’s U.S. headquarters and across from University Hospitals Ahuja Medical Center. Beachwood Place, an upscale shopping mall anchored by Dillard’s, Nordstrom and Saks Fifth Avenue, is less than 5 miles north of the property.
Rooms at Aloft Beachwood feature 9-foot ceilings, large windows, complimentary WiFi, 42” flat-screen TVs, plug-and-play connectivity centers, Aloft’s signature platform beds and modern bathrooms with walk-in showers. Shared amenities include an indoor pool; 24-hour fitness center; Re:mix lounge; Re:fuel by Aloft snack bar; and 1,800 square feet of meeting space. In addition to several nearby restaurants – Aloft Beachwood is connected to Piada Italian Street Food, a fast-casual Italian eatery – guests also have access to the hotel’s Beachwood W XYZ® bar featuring specialty cocktails, live entertainment from local musicians, big-screen TVs, a pool table and adjacent outdoor seating area called the Backyard.
“Whether guests are traveling for business or leisure, Aloft Beachwood offers something for everyone, which is part of why the brand has been so successful,” said Zettl. “The W XYZ bar, meeting facilities and lounge areas, along with the hotel’s on-site catering services, have also proven popular with locals in search of venues for weddings and private events – a business we’re looking to grow as the property’s new manager.”
Established in 1995, Waterton has experience working with some of the leading names in the hospitality industry, including Starwood Hotels & Resorts Worldwide Inc., the creator and owner of the Aloft brand; InterContinental Hotels Group; Hilton Worldwide; Marriott; Hyatt; Wyndham Hotel Group; and Carlson Rezidor Hotel Group. Since 2013, Waterton has owned and operated The Aloft San Francisco Airport in Millbrae, California., one of 13 properties in the company’s national portfolio of full- and select-service hotels.
For more information about Aloft Beachwood, visit www.aloftbeachwood.com.
About Waterton
Waterton is a real estate investor and operator with a focus on U.S. multifamily and hospitality properties. Founded in 1995 by David Schwartz and Peter Vilim, Waterton executes value-add strategies and manages a national portfolio of multifamily and hospitality properties on behalf of institutional investors, family offices and financial institutions.
Waterton has expertise in selecting and managing attractive risk-adjusted real estate investments located in major markets around the United States. Since its formation, the company has invested over $5.3 billion in real estate assets. Waterton is privately held by its co-founders and is headquartered in Chicago with regional offices throughout the United States. Currently, Waterton’s portfolio includes over $4.0 billion in real estate assets, including approximately 20,000 multifamily units and 13 hotels. Visit Waterton’s new website: www.waterton.com.
About Aloft Hotels
With more than 100 hotels now open in 16 countries around the world, Starwood’s Aloft brand delivers a fresh approach to the traditional staid hotel landscape. For the ‘always on’ next generation of traveler, the Aloft brand offers a tech-forward, vibrant experience and a modern style that is different by design. For more information, please visit www.alofthotels.com. Aloft, like all brands within Starwood’s portfolio, is proud to offer the Starwood Preferred Guest® program, the industry’s richest loyalty program. To learn more, please visit www.spg.com.
