View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
October 4, 2010

Geolo Capital Buys US Hotel

US-based Geolo Capital has acquired the 250-room Custom Hotel in Los Angeles, US, from an affiliate of Marathon Asset Management for an undisclosed sum. Jones Lang LaSalle Hotels brokered the transaction and Joie de Vivre Hospitality will take over management of the 12-storey tower.

By cms admin

US-based Geolo Capital has acquired the 250-room Custom Hotel in Los Angeles, US, from an affiliate of Marathon Asset Management for an undisclosed sum.

Jones Lang LaSalle Hotels brokered the transaction and Joie de Vivre Hospitality will take over management of the 12-storey tower.

The property was relaunched as the Custom Hotel in 2007 following a $20m renovation by the Los Angeles-based Palisades Development Group.

Geolo Capital founder Chip Conley unveiled plans to acquire up to $500m of hospitality assets over the next five years.

The founder intends to increase the number of Joie de Vivre-managed properties to over 50 from 34 through new third-party management agreements, joint ventures and acquisitions.

Joie de Vivre Hospitality manages a portfolio of creative lifestyle businesses, including hotels, restaurants and spas.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU