Subject: TNM
Civitas Capital Group Closes on Home2 Suites in Austin, Texas
AUSTIN, Texas, Dec. 10, 2018 /PRNewswire/ -- Civitas Capital Group ("Civitas"), a leading independent specialty asset management and financial services firm, has closed on the acquisition of Home2 Suites by Hilton Austin Cedar Park.
Home2 Suites by Hilton Austin Cedar Park opened in 2013 in a premier northwest Austin location amid a strong local economy. The extended-stay hotel is in the northwest Cedar Park submarket of Austin, Texas, at the confluence of highways linking it to Austin's central business district and the growing suburb Round Rock. Cedar Park itself offers convenient access to numerous employers such as Oracle, Apple, Visa, and Texas Instruments.
Because of these and other attributes, the hotel is uniquely positioned in a secondary submarket with gateway market attributes and demand drivers. This includes adjacency to University of Texas at Austin, which continues to drive explosive regional growth. According to U.S. Census data released this year, Austin was the 12th-fastest growing U.S. city in 2016-17. Additionally, Cedar Park's population alone grew 4.2 percent.
The four-story hotel features 84 suites on more than two acres. Home2 Suites by Austin Cedar Park offers all-suite accommodations with fully equipped kitchens and modular furniture, providing guests the flexibility to customize their suite to their style and preference. The hotel features complimentary Internet, inviting communal spaces, and trademark Home2 Suites amenities such as Spin2 Cycle, a combined laundry and fitness area, Home2 MKT for grab-and-go items, and the Inspired Table, a complimentary daily breakfast that includes more than 400 potential combinations. Guests can enjoy an indoor saline pool, fire pit, and grill area. Home2 Suites by Hilton Austin Cedar Park is pet-friendly.
"Home2 Suites by Hilton and Austin are a perfect marriage of brand and city," says Caroline Perel, managing director for Civitas. "The hotel's modern style, eco-friendly offerings, and value conscious pricing makes us a great addition to Austin."
Aimbridge Hospitality, the nation's largest independent hotel investment and management firm, will manage the property on behalf of Civitas.
Read more about Home2 Suites by Hilton at www.home2suites.com and www.news.home2suites.com.
About Civitas Capital Group
Civitas Capital Group is a Dallas, Texas-based alternative asset firm that provides a range of products and services for institutional investors, family offices, and qualified individuals. The firm, which has more than $1.3 billion of assets under management in more than 50 investments, focuses on compelling, niche investment strategies in U.S. real estate and lodging. Civitas' executive team has over 100 years combined investment experience, including more than 80 years of collective hospitality experience. For more information, please visit civitascapital.com.
About Home2 Suites by Hilton
Home2 Suites by Hilton, one of the fastest-growing brand in the history of Hilton, is a mid-tier, all-suite, award-winning extended stay hotel concept designed to offer stylist accommodations with flexible guest room configurations and inspired amenities for the cost-conscious guest. With a commitment to environmentally friendly products and hotel operations, Home2 Suite offers complimentary breakfast selections with hundreds of combinations; innovative and customizable guest room designs; laundry and fitness areas; complimentary WiFi; multiple outdoor spaces; 24-hour business centers; expansive community spaces; and pet-friendly environments. Home2 Suites by Hilton has more than 255 hotels, and more than 430 in the pipeline. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount that can't be found anywhere else, free standard WiFi, and digital amenities like digital check-in with room selection and Digital Key (select locations), available exclusively through the industry-leading Hilton Honors mobile app. Visit www.home2suites.com or newsroom.hilton.com/home2suites for additional information, or here for franchising opportunities. Connect with Home2 Suites on Facebook, Twitter, LinkedIn, and Instagram.
About Aimbridge Hospitality
Aimbridge Hospitality is the nation's largest independent hotel management firm with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides property management, asset management, development, renovation and consulting services. Based in Dallas, Texas, and with development offices in Dallas, San Clemente, Chicago, and Puerto Rico, Aimbridge currently owns and/or manages over 825 upscale, independent, and branded hotels with nearly 100,000 rooms across the United States, Canada, and the Caribbean, including such affiliations as Marriott, Hilton, Hyatt, IHG, Wyndham, and Choice Hotels. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com
SOURCE Civitas Capital Group
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