Parks Hospitality Holdings Acquires Boston Park Plaza

In a transfer signaling its U.S. market growth technique, Parks Hospitality Holdings (PHH), a number one hospitality developer and resort proprietor, right this moment confirmed the acquisition of the strategically positioned Boston Park Plaza. Situated at 50 Park Plaza in Boston’s central Again Bay neighborhood, the 1,060-key property will see the property transition to Hilton Boston Park Plaza as a part of a post-acquisition rebranding initiative.

The architecturally spectacular resort options up to date and pet-friendly guestrooms and suites, two eating places, a wide range of facilities, and 70,000 sq. toes of conferences and occasion area.

“Buying the celebrated Boston Park Plaza is a major milestone for Parks Hospitality Holdings,” mentioned Charles El-Mann Fasja, CEO at PHH. “This addition to our irreplaceable resort actual property portfolio marks a brand new period of growth for PHH, bringing our experience in hospitality improvement and funding from Mexico to places throughout the U.S. We’re honored to proceed increasing our partnership with Hilton with this iconic mission and have future plans to scale our presence throughout different key U.S. cities.”

Based in 2006 by Charles El-Mann Fasja, PHH associates’ present portfolio consists of over 11,000 resort keys and greater than 11,000 U.S.-based multifamily items with a further 2,000 below improvement (primarily in Colorado, California, and different U.S. Southern places). PHH, the foremost actual property developer in Mexico, has showcased its skill to translate its prowess to the U.S. market by means of a profitable enterprise in 2018: an funding within the 285-key Grand Hyatt Vail. Underneath PHH’s stewardship, the resort underwent intensive renovations and reopened in 2019, aligning seamlessly with its enduring dedication to revitalizing the encompassing locality and fostering neighborhood development. Moreover, PHH achieved the conversion of the property right into a distinguished model resort, Grand Hyatt Vail, beforehand working independently. In a testomony to their ongoing dedication to excellence, renovations proceed, and a branded restaurant is about to grace the property in December, enhancing its attract and hospitality choices.

As PHH expands its funding attain and technique, it would proceed to work with Hilton and different companions to evolve and develop within the U.S., Mexico, and past.

Hilton Boston Park Plaza – At a Look

  • Location: Boston Park Plaza is positioned simply 4 miles from Boston Logan Airport, a block away from the historic Boston Widespread, and steps from Boston Public Backyard, the Theater District, and the Arlington T Station.
  • Historic Significance: Opened in 1927 as The Statler Resort, this landmark has witnessed possession modifications, from Conrad Hilton in 1954 to an area household in 1976. Dignitaries, U.S. Presidents, and celebrities favor it.
  • Lodging: Residence to 1,060 trendy rooms, its design celebrates New England’s legacy. Distinctive suites just like the Presidential Suite and Backyard Suite supply luxurious with non-public terraces, bars, and extra.
  • Eating: Friends can delight within the signature restaurant, Off the Widespread, or get pleasure from Italian delicacies at Strega Italiano. The resort additionally options an onsite Starbucks and a complete room service menu.
  • Facilities: With entry to Lynx Health Membership, friends have 20,000 sq. toes of well being amenities. Distinctive choices embrace Boston’s first Topgolf Swing Suite and the one Leica Retailer and Gallery in New England. A FedEx Enterprise Heart caters to company vacationers.
  • Occasion Areas: Boasting 70,000 sq. toes, the resort can accommodate occasions of all scales. Its Grand Ballroom, full with Baccarat Crystal chandeliers, units the scene. Different venues like Avenue 34 supply a contemporary twist.
  • Loyalty Program: Boston Park Plaza provides the unique Hilton Honors program, an award-winning guest-loyalty providing for Hilton’s distinct resort manufacturers. Members who e book straight have entry to on the spot advantages, together with a versatile fee slider that permits members to decide on almost any mixture of Factors and cash to e book a keep, an unique member low cost, free customary Wi-Fi, and the Hilton Honors cellular app.

About Parks Hospitality Holdings

Parks Hospitality Holdings (PHH) is a world-class actual property developer based in 2006 by Charles El-Mann Fasja. PHH is Latin America’s largest full-service resort developer, with 11,000 rooms developed and three,000 extra within the pipeline. Since its founding, PHH has efficiently developed greater than 100 million sq. toes of actual property, together with mixed-use, high-rise workplace, high-rise residential, industrial, industrial, and accommodations. Led by CEO Charles El-Mann Fasja, Parks Hospitality enhances the vacation spot expertise by constructing and spreading the area’s resilience by using and sourcing straight from the world. PHH is a major employer and supporter of native suppliers, uplifting the economic system and fostering neighborhood improvement. Along with enhancing native economies, PHH is deeply dedicated to environmental stewardship. Every property is a testomony to this dedication, reflecting a synergy between luxurious and environmental sustainability. From utilizing eco-friendly supplies in development to integrating inexperienced applied sciences, PHH ensures that each enterprise makes a minimal environmental footprint whereas providing an unmatched visitor expertise. The PHH portfolio consists of, however is just not restricted to, Conrad Tulum, Waldorf Astoria Cancun, Hilton Cancun All Inclusive, Hilton Tulum All Inclusive, Grand Hyatt Vail, and soon-to-be-completed Park Hyatt Cancun and Grand Hyatt Cabo.

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