Hilton Back Bay Hotel trades for $171 million in Boston

 

Stephany Chen 

 BOSTON, MA,  Apr.15, 2024 –  JLL’s Hotels & Hospitality group announced today that it arranged the $171 million sale of the Hilton Back Bay hotel, a 390-key hotel in Boston.

 

JLL worked on behalf of the seller, Ashford Hospitality Trust, and procured the buyer, which was a joint venture between Certares and Belcourt Capital Partners. JLL also secured acquisition financing for the buyer.

Emily Zhang 

 The full-service hotel features an on-site, 209-space parking garage, as well as a restaurant and bar, fitness center and outdoor space.

 

Hilton Back Bay hotel, 40 Dalton Street, Boston, MA

The Hilton is located at 40 Dalton St. and benefits from an ideal location in Boston’s sought after Back Bay neighborhood, within walking distance of the city’s leisure, corporate and convention demand generators.

Kevin Davis

The hotel is situated near the Hynes Convention Center, the Prudential Center, Copley Place, Fenway Park, Newbury Street, Berklee College of Music and Northeastern University.

Boston is one of the most dynamic lodging markets in the country given its unique supply and demand fundamentals.

 Boston benefits from an exceptionally diverse base of demand generators bolstered by strong tourism, an expanding corporate roster, a unique concentration of the world’s best medical and academic institutions, a leading life sciences and research sector and world-class convention facilities.

 

Alan Suzuki

The sales and financing efforts were overseen by Americas CEO Kevin Davis, with the investment sales effort led by Managing Director Alan Suzuki, Senior Director Matthew Enright, Executive Vice President Stephany Chen and Associate Emily Zhang and the financing efforts led by Senior Directors Barnett Wu and Jonathan Schneider.

“We experienced an incredibly strong response to this opportunity from both the equity and debt markets, with a deep pool of potential buyers and lenders," said Davis.

 

Barnett Wu

"The transaction offered the optimal combination of great real estate with strong in-place cash flow and upside opportunity through a renovation, coupled with a strong Boston market recovery.”

 

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide.

The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.

Matthew Enright

Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

 

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CONTACT:

 

Alli Stent

PR, Hotels & Hospitality,

 Capital Markets

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