Thursday October 29th, 2015
ST. LOUIS—RLHC (Red Lion Hotels Corporation) has signed its fifth location and first license agreement for Hotel RL, its new upscale lifestyle brand. Following a multimillion-dollar renovation incorporating signature design elements, Hotel RL St. Louis Airport is expected to open in the second quarter of 2016.
“We were admittedly intrigued by the Hotel RL brand and its design elements which we felt could help distinguish our property in a large market,” said John Andrews of Pandey Hotel Corporation, parent company to the owner of the property Pandey Hotel St. Louis, LLC. “After visiting Hotel RL Baltimore, we are inspired. We’re investing in the guestrooms and all of the public spaces including adding the Living Stage, the Steps and espresso coffee service in our lobby. The Hotel RL concept is imaginative, yet practical, and we know our guests in St. Louis will enjoy it.”
Adjacent to the Lambert-St. Louis International Airport and located at 9600 Natural Bridge Rd., the future Hotel RL St. Louis Airport has 197 guestroom and nearly 4,000 sq. ft. of meeting space. The hotel has a lounge, indoor heated pool, fitness center, business center, and complimentary WiFi and airport shuttle service.
“This particular property is located in one of the top 20 MSAs and serves as a nice extension to our recent Hotel RL opening in Baltimore,” said Brian Quinn, SVP, RLHC. “The Hotel RL brand has generated quite a bit of industry interest among hotel owners in the months since we launched in Baltimore, creating a healthy pipeline.”
Hotel RL debuted in August with the opening of Hotel RL Baltimore Inner Harbor. Also in August, the company announced it will enter into a joint venture to acquire a future Hotel RL Washington D.C., which is expected to execute within the next few weeks. Three more hotel conversions are planned for the first half of 2016 following substantial capital improvements in company-operated properties in Olympia, WA; Salt Lake City; and Spokane, WA.
A New Zealand-based company with a connection to Singapore is the new owner of Quail Hollow Resort in Concord in Lake County. Pandey Hotel Corp., the Aurora, Colo.-based U.S. unit of Pandey Hotels, through GP Hotel Ohio LLC paid $6.75 million on Dec. 10 for the 176-room hotel, according to the Lake County auditor’s office. The purchase is Pandey’s first Ohio property.
The seller was Quail Hollow Holdings LLC, which has owned the resort and conference center since 2008 when San Francisco-based Interwest Capital Corp. purchased a distressed mortgage and obtained control of the property for an undisclosed amount.
The 2008 sale price was not disclosed in public records. The property is appraised at $5.7 million for property tax purposes, according to online Lake County records. The hotel is at 11080 Concord-Hambden Road and has a Painesville mailing address.
Kari Brozic, Quail Hollow’s director of sales and marketing, confirmed Pandey is the property’s new owner. She said the new owner has shifted management of the resort to Packard Hospitality Group of San Diego, which replaced GF Management Co. of Philadelphia. Brozic said executives from the new owner have visited the property since closing the purchase and are sizing up what capital improvements to make. “We know they plan to do some things. They see the need for some love,” she said in an interview. The new owners like Quail Hollow’s status as an independent hotel, she said. However, that status means Quail Hollow lacks the marketing benefit of flying the flag of a major hotel company, such as Marriott Corp.’s room booking services and reward systems. Conversely, being an independent reduces franchise or other costs associated with a major brand.
Quail Hollow joins eight other hotels that Pandey has acquired or developed since launching U.S. operations in 2012. The company seeks opportunities to enhance revenues and increase values at acquisitions, and it is developing a new hotel at the Orlando airport, according to Pandey’s website.Pandey’s New Zealand parent, C.P. Group, owns hotels with 2,500 rooms in Australia and Asia, and was incorporated in 1993 by the Singapore-based, family owned Pandey Group of companies. The golf course at Quail Hollow is separately owned, but the hotel has an arrangement for its guests to play there, Brozic said.
Alex Routi, CEO of Interwest, did not respond by noon on Thursday, Jan. 8, to an email asking why the firm sold Quail Hollow. Interwest focuses on buying and improving undervalued or underperforming properties.