Excel Group, a private equity firm that owns and develops hotels throughout the United States, has partnered with Ares Management Real Estate Secondaries funds to invest in a portfolio of Excel-owned Marriott and Hilton branded hotels. The portfolio comprises eight assets primarily concentrated in high-demand U.S. East-Coast markets with a mix of limited-service, select-service and extended-stay hotels. The transaction also provides additional capital for Excel Group to continue to grow their hotel portfolio.
“This transaction is a pivotal milestone for Excel that builds on our team’s exceptional work to date,” Shoham Amin, founder and principal of Excel Group, said in a statement. “Our collaboration with Ares combines significant capital resources and a deep understanding of the hospitality landscape. We are excited to have Ares’s strategic support as we expand our portfolio and seek to achieve even greater success in the future.”
“We are excited to partner with Shoham Amin and the Excel team as we look to capitalize on continued favorable fundamentals across the limited and select service hotel segments,” said Jamie Sunday, co-head of real estate secondaries at Ares Management. “We look forward to working closely with the Excel team and to strategically add hotels to the existing portfolio.”
Park Madison Partners was the exclusive financial advisor on the transaction. “Park Madison is very pleased to help consummate this transaction between Ares and Excel, two outstanding organizations.” said Brian DiSalvo, partner at Park Madison Partners.