Hilton Garden Inn Oklahoma City-Bricktown and Homewood Suites by Hilton Oklahoma City-Bricktown, a dual-branded hotel, opened quietly and almost immediately had new owners — the same Virginia-based real estate investment trust that bought nearby Hampton Inn & Suites in 2010.
Apple Ten Oklahoma, an LCC of Apple REIT in Richmond, Va., one of the largest owners of Hilton-branded hotels in the country, purchased the new hotel property at 328 E Sheridan Ave. from Raymond Management, a Wisconsin-based multi-brand hotel company, for $31,582,000, according to county assessor’s records. The hotels opened in January.
Apple REIT paid Raymond Management $32 million for the Hampton Inn & Suites, 300 E Sheridan, four years ago.
Hilton Worldwide said the Hilton Garden Inn-Homewood Suites is its 14th dual-branded hotel in North America and the 13th with Homewood Suites.
“We continue to see great success with the dual-branded hotel model, as it caters to a wide array of guests with varying needs and desires,” Hilton spokesman Phil Cordell said. “We’re excited to add another dual-build to our portfolio and bring the unique concept to Oklahoma.”
Cordell cited the strong Oklahoma City economy and growing attraction to visitors.
He said that in the first quarter of the fiscal year, the city saw 5 percent growth in hotel occupancy as tracked by Smith Travel Research. The city also recently was named a “Top 10 Must Visit Destination” by Complex.com, Cordell said.
About the property
The new hotel marks the 10th Hilton Garden Inn and fourth Homewood Suites in Oklahoma and employs about 90 people. The 11-story hotel building has 155 Hilton Garden Inn rooms and 100 Homewood Suites rooms.
Raymond Management Co. Inc. continues as manager of Apple REIT properties here.
“Bricktown is Oklahoma City’s most vibrant neighborhood, and the addition of a hotel featuring two leading brands will enhance the area’s appeal and deliver strong value for guests,” said Jeff Raymond, president of Raymond Management. “As Oklahoma’s first dual-brand hotel, we look forward to introducing the unique concept and stay experience it will afford both business and leisure guests.”
We continue to see great success with the dual-branded hotel model, as it caters to a wide array of guests with varying needs and desires. We’re excited to add another dual-build to our portfolio and bring the unique concept to Oklahoma.”