New York, NY: RobertDouglas announced today that it advised Normandy Real Estate Partners and Contrarian Capital Management in the sale of the 114‐key Ames Boston Hotel, a boutique luxury hotel in the heart of downtown Boston, to Gencom, one of North America’s leading luxury hotel and residential investment and development firms.
Considered to be Boston’s first skyscraper, the Ames Boston Hotel is listed on the National Register of Historic Places and is the second tallest masonry load bearing wall structure in the world. Originally constructed in 1893, the hotel enjoys a prime location in the Government Center, within walking distance of the financial district and the renowned Faneuil Hall Market.
Douglas Hercher, a Managing Director with RobertDouglas, observed that “the Ames Hotel is truly a gem. Building upon the restoration undertaken by Normandy, investors responded enthusiastically to the opportunity to acquire this extraordinary property.”
Gencom plans a complete refresh and update of the Ames from top to bottom. Guest rooms will receive significant enhancements, including new case goods, soft goods and some unique technology. The ground floor will see significant changes that will highlight the property’s rich history and unique location in Boston. Gemstone Hotels and Resorts, a full-service hotel management company specializing in operating luxury and upscale hotels, will manage the Ames.
“The Boston market is one of the strongest lodging markets in North America,” commented Evan Hurd, Senior Director at RobertDouglas, “and the list of prospective investors for the property included a broad range of domestic and international groups.”
“The Ames is an irreplaceable asset with a prime location in the heart of Boston,” said Alessandro Colantonio, senior vice president of acquisitions at Gencom. “Following the completion of the renovation and the implementation of Gemstone’s proprietary marketing and operations programs, the hotel will be well positioned to become the leading destination for upscale, discerning travelers to this market.”
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