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| Ames Boston Hotel, Downtown Boston, MA |
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| Alessandro Colantonio |
BOSTON, MA -- Representatives of Gencom, one of North
America’s leading luxury hospitality and residential / mixed-use real estate
investment and development firms, announced that, through its new partnership
with Gemstone Hotels and Resorts, it has acquired the 114-room Ames Boston Hotel in the heart of
downtown Boston.
The property will be operated by Gemstone
Hotels & Resorts, a full-service hotel management company that specializes
in operating luxury and upscale urban hotels and resorts.
Gencom and Gemstone will
immediately undertake and jointly oversee a multi-million dollar renovation to
re-position and reinvigorate the hotel. Robert Douglas was the exclusive
advisor to the seller, a private investment group, in the sale.
"The Ames Boston Hotel is an
irreplaceable asset with a prime location in the heart of Boston," said Alessandro Colantonio, senior vice
president of acquisitions at Gencom.
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| Thomas Prins |
“We continue to have a healthy appetite for
quality assets, located in major urban areas with high barriers to entry and
with high return on investment potential.
“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.”
The renovation will
transform the hotel from top to bottom to bring business and leisure travelers
some of the finest accommodations Boston has to offer. Guest rooms will receive significant
enhancements, including new case goods, soft goods and some unique technology.
The ground floor will see significant changes
which will highlight the property’s rich history and unique location in the
heart of Boston. Additionally, the
hotel’s existing meeting space will be expanded and substantially
modernized.
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
within the Government Center, within walking distance to the financial district
and next to the renowned Faneuil Hall Marketplace.
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| Jeff McIntyre |
“We have a long history of
operating hotels in Boston and throughout New England,” said Thomas Prins, Gemstone's
principal. “This property, along with
the Copley Square Hotel we currently manage, will give us significant economies
of scale and ability to capitalize on all the Boston hospitality marketplace
offers.”
“The Boston hotel economy is quite
vibrant and continues to expand,” said Jeff
McIntyre, Gemstone’s principal.
“We
will bring to bear some unique approaches to create one of a kind guest
experiences—taking advantage of everything this hotel and its special location
have to offer.
"The Ames is truly a
one-of-a-kind hotel, and we intend to clearly distinguish it in a marketplace
known for its iconic hotels and hospitality.”
For a complete copy of the company’s news release,
please contact:
Chris Daly, media
(703) 435-6293
