US-based tech-enabled hotel management company Life Hospitality has added Innzen Hospitality Sunil Nayak owned 76-key BeachWalk Hotel to its portfolio.
Located in Sea Bright, New Jersey, the property is being renovated into a boutique hotel and rebranded to an independent hotel in collaboration with Life Hospitality.
Sunil Nayak said: “After studying the landscape for management of independent hotels in seasonal resort environments, I was impressed by Life Hospitality and their impressive case studies in markets that feature similar seasonal demand patterns as Sea Bright.
“We look forward to starting a fruitful partnership with Life Hospitality, which we hope to expand to new properties in New Jersey as opportunities arise to acquire similar independent hotels throughout the region.”
Following renovation, the current 37-key property will feature a total of 76 keys rooms. It is currently nearing completion.
The new rooms will have the right to use the property’s private beach, swimming pool, waterfront Tiki Bar, 40 dock slips and 80 parking spots.
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Life Hospitality was launched by Life House, which was founded by luxury boutique hotel veterans in 2017.
Life House Acquisitions VP John Basting said: “We are excited to support Sunil and the partners with positioning this asset to optimise revenues and achieve outsized bottom line performance as a result of our lean and technology-enabled management platform.
“Considering the market’s proximity to Manhattan and the greater New York City Metropolitan population, we feel strongly that long-term supply/demand dynamics in the region are favourable and are actively seeking additional projects to collaborate on together across the Jersey Shore.”