News & Press Releases
HHM Completes Acquisition of Sheraton Miami Airport Conference Hotel
Private Investment Platform Makes Direct Investment in Gateway Full Service Hotel
MIAMI – June 29, 2015…Philadelphia based HHM has completed its acquisition of the Sheraton Miami Airport Hotel and Executive Meeting Center, which features 405 rooms, 17,000 square feet of updated meeting space, an 1,800 square foot fitness facility, plus multiple food and beverage outlets.
The 405-room Sheraton Miami Airport Hotel and Executive Meeting Center is the closest hotel to Miami Airport, which serves as the largest gateway for Latin America and the Caribbean, and is one of the busiest international passenger and freight airports in the world. The hotel has direct pedestrian access to both the airport and also the recently opened Miami Intermodal Center (MIC), which provides direct connections to South Beach and Brickell, among other regional leisure and business centers.
The hotel’s executive conference center offers 17,000 square feet of renovated, custom built meeting space. As the only International Association of Conference Centers (IACC) certified meeting facility in South Florida, the Executive Meeting Center accommodates both business and leisure guests at the airport and nearby corporate office parks.
HHM is working with outside designers and with the Sheraton brand team, part of Starwood Hotels and Resorts, to further enhance the hotel’s programming through a full upgrade of the guest rooms and all public facilities.
“The Sheraton Miami Airport is a welcome addition to our growing investment platform and represents our ninth hotel in Florida and our fifth hotel in the Miami market. We are excited about the opportunity to further grow the market penetration of this hotel within the airport and nearby submarkets. We expect strong continued growth and diversity of demand generators at Miami International Airport and in South Florida generally,” HHM President & CEO Naveen P. Kakarla said. “We are equally excited about the capable and tenured associates at this property, and look forward to including them in the HHM family as we work to upgrade and further position this hotel.”
The Sheraton Miami Airport Hotel was brokered by Jones Lang LaSalle (JLL) and now joins HHM’s managed portfolio in Miami, including the Courtyard Cadillac Miami Beach, Residence Inn Coconut Grove, Blue Moon Autograph Collection South Beach, and Winter Haven Autograph Collection South Beach.
HHM, formerly known as Hersha Hospitality Management, operates 115 hotels across the United States. Headquartered in Philadelphia, PA, the company engages in hotel acquisitions, management, asset management, and receivership for full-service and select service hotels in top 25 markets. HHM also operates 28 independent hotels ranging from The Rittenhouse Hotel, a AAA Five Diamond property in Philadelphia, to the Larkspur Landing hotels, all-suite extended stay properties in Northern California and the Pacific Northwest. Its highly experienced team partners with publicly traded companies, private equity firms, institutional real estate owners, and private investors. Additional information on HHM can be found at hhmhospitality.com.