Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has acquired the Homewood Suites by Hilton Eatontown.
The 131-room, extended-stay hotel, which is HHP’s eleventh property, is located in Eatontown, NJ, in close proximity to the Jersey Shore beaches, major hospital systems, sports complexes and universities. The hotel is also located near Fort Monmouth, a decommissioned army base that is in the process of undergoing a transformational redevelopment.
“We are excited to add the Homewood Suites by Hilton Eatontown to our hospitality portfolio,” said Chuck Pomerantz, managing partner, Highline Hospitality Partners. “This acquisition represents our first acquisition in the state of New Jersey, and a further diversification of our portfolio with the addition of another extended-stay hotel which brings our total portfolio to 11 hotels comprising approximately 3,200 keys.”
The hotel was developed in 2004 and features oversized guestrooms (all of which are suites and include a full kitchen and sleeper sofa), complimentary daily breakfast, an outdoor pool and patio area equipped with fire pits and a stone-enclosed grill station, multiple meeting rooms, an oversized fitness center equipped with Peloton equipment and ample on-site parking.
The company selected Avion Hospitality as the hotel’s third-party manager.