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Lowe Joint Venture Acquires 3 hotels in The Woodlands from Howard Hughes Corp.
THE WOODLANDS, TX – A joint venture between Lowe and an institutional investor announced today its acquisition from The Howard Hughes Corporation® (NYSE: HHC) of three hospitality assets located in The Woodlands®, a 28,500-acre award-winning master planned community in the greater Houston area. The Woodlands Resort; The Westin at The Woodlands; and Embassy Suites by Hilton, The Woodlands at Hughes Landing were purchased for $252 million and will continue to be managed by Lowe’s hospitality management subsidiary, CoralTree Hospitality, which took over management of the properties in September of 2020. Lowe will immediately begin a $25 million capital investment program at the three hotels, totaling 909 rooms. “The Woodlands hotel portfolio acquisition…
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Lowe JV acquires three hotels in The Woodlands, TX, for $252M
A joint enterprise between Lowe and an institutional investor has obtained 3 hospitality belongings from The Howard Hughes Corporation situated in The Woodlands, a 28,500-acre grasp-prepared group in the higher Houston space. The Woodlands Resort The Westin at The Woodlands and Embassy Suites by Hilton, The Woodlands at Hughes Landing were purchased for $252 million and will go on to be managed by Lowe’s hospitality management subsidiary, CoralTree Hospitality, which took more than management of the attributes in September 2020. Lowe will immediately start off a $25 million cash investment software at the three hotels, totaling 909 rooms. “The Woodlands lodge portfolio acquisition is regular with our broader hospitality investment…
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