BEVERLY, MA, June 1, 2011—Capital Hotel Management (CHM), a leading hotel asset management and investment firm, today announced that it has acquired Santa Monica Hotel Group of Los Angeles, California, to expand its asset management capabilities and presence on the West Coast.
Pamela Greacen (top right photo), founder and president of Santa Monica Hotel Group, will join CHM as executive vice president, along with Anthony Tarakdjian (middle left photo), a 25-year veteran of hotel finance.
Since founding her company in 2000, Greacen has been responsible for the due diligence, asset management, renovation and repositioning of more than $2 billion in luxury hotels throughout the continental U.S. and Hawaii.
“This acquisition is indicative of the recovering economy,” noted Ken Wilson (lower right photo), CEO of CHM.
“The transactions market is heating up, and we are expanding our reach to meet our investors’ demand. In recent years, CHM has been active in major East Coast urban markets, midwestern cities with convention center headquarter hotels and select off-shore resorts, but with this acquisition, we can now offer a national asset management platform with expanded geographic expertise, particularly on the West Coast.
Santa Monica Hotel Group’s current asset management portfolio includes the Four Seasons, Los Angeles; La Posada de Santa Fe, Santa Fe, N.Mex., Marriott Key Center, Cleveland; and, the Harbor View Hotel & Resort, Martha’s Vineyard.
CHM has asset managed more than 55 hotels over the past 10 years, with a current portfolio of approximately 15,800 rooms in 29 hotel assets, including urban landmarks, destination resorts and convention center headquarters hotels.
For more information on CHM, visit their website at www.chmhotel.com or contact them at (978) 522-7000.
Media Contact: Jerry Daly, Chris Daly, (703) 435-6293, jerry@dalygray.com
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