DoubleTree by Hilton Hotel Bend currently features 117 rooms, an indoor swimming pool, fitness centre, business centre, and three meeting rooms totalling 2.327 sq ft of space.
Braintree Group believes the acquisition fits into its value-add strategy. The owner plans to launch a substantial renovation to the property next year.
Work will focus on elevating the guestrooms and common areas while implementing a design that is more closely connected to the destination. Upon completion of the renovation, the hotel will be rebranded with a new name as part of the Tapestry Collection by Hilton.
Eric A. Danziger, CEO, Braintree Group, said: “All of us at Braintree Group are thrilled with this newest acquisition to our portfolio, which already includes two wonderful hotels in the Bend market. The prime, downtown location provides business and leisure guests with access to the best amenities that Bend has to offer within walking distance. We look forward to repositioning the asset to be included in Hilton’s Tapestry Collection and delivering a unique, elevated experience for our customers.”
Chief investment officer Kristen Knapp added: “We are delighted to deepen our presence in Bend, a true four-season resort destination. Between our team’s operational capabilities, the irreplaceable location, and a modernised product, we are confident this will become one of the premier offerings in Bend. We are eager to get to work and execute on behalf of our trusted partners.”
A Jones Lang LaSalle team led by Melvin Chu advised the seller and Casey Davidson of JLL advised Braintree Group on the financing. Stonehill Strategic Capital provided the financing.
Other US DoubleTrees currently undergoing refurbishment include DoubleTree by Hilton Clarksville in Tennessee, a 156-key site project due to complete in Q1 2024; the 125-room DoubleTree by Hilton Beach Resort Tampa Bay – North Redington Beach in Florida, expected to be finished in 2024; and DoubleTree Suites by Hilton Hotel Doheny Beach in Dana Point, California, bringing 196 keys back online in Q3 2023.