Destination® Hotels & Resorts to Manage the Valley River Inn
Hotel and conference center in Eugene, Oregon adding to their growing Northwest collection of hotels and resorts
Englewood, Colo. – October 26, 2011 – Charles S. Peck, president and chief operating officer for Destination® Hotels & Resorts announced that they have been selected by Blue Vista Capital Management, LLC and Singerman Real Estate, LLC to manage the Valley River Inn located in Eugene, Oregon. Situated along the banks of the Willamette River, the Valley River Inn is a landmark local hotel, well known and embraced by the community of Eugene and is an ideal addition to the Destination® Northwest portfolio. The Valley River Inn represents the sixth Destination® Hotels & Resorts property in the Pacific Northwest and the third Northwest property that Destination® has added to its management portfolio in 2011. Destination®’s diverse collection of hotels and resorts in the Pacific Northwest currently includes Suncadia in Cle Elum, WA, Sunriver Resort in Bend, OR, Skamania Lodge near Portland, OR, The Woodmark Hotel, Yacht Club & Spa in Kirkland, WA and the Red Lion Hotel on Fifth Avenue in Seattle, WA.
Just two hours south of Portland and only minutes from downtown Eugene and the University of Oregon, the Valley River Inn offers 257 guest rooms and suites and 15,000 square feet of meeting space, the most comprehensive meeting facilities in the area. The Valley River Inn also offers the local’s favorite dining, SweetWaters restaurant, in addition to access to nearby recreation including 12 beautiful miles of paved cycling and running paths on the riverwalk. The hotel is conveniently adjacent to the Valley River Center with over 140 retail shops and restaurants.
“We have had a long standing presence in the Northwest marketplace dating back to 1993 and are excited to continue our growth in the Pacific Northwest with a property that is so well-known within the region” said Peck. “Under the supervision of Tom Luersen, our veteran managing director in the Northwest, Destination® will leverage our proven expertise in market positioning to enhance and maintain the Northwest charm of this landmark Eugene hotel.”
“Valley River Inn has a great history and bond with the community that is very special,” said Seth Singerman on behalf of Singerman Real Estate and Blue Vista Capital Management. “We welcome becoming part of the Eugene community and genuinely pleased to have acquired this exceptional independent hotel and the management expertise of Destination Hotels and Resorts. Our collective vision is to further improve the guest experience through great service and our commitment to implement a multi-million dollar capital plan for overall property renovations, encompassing guestrooms, meeting spaces, SweetWaters, and public spaces."
In addition, The Valley River Inn will now participate in all Destination® Hotels & Resorts customized marketing solutions and proprietary platform of sales and marketing resources, including national sales offices, Destination Earth, Destination Meeting Collection and the Destination Delivers loyalty program. As part of Destination® Hotels & Resorts strong growth and presence in the Pacific Northwest, this latest acquisition will benefit from the synergy among the diverse Destination® Northwest properties and the resources, shared knowledge, and extensive customer loyalty of the region.
About Destination Hotels & Resorts
Destination Hotels & Resorts is a privately held hospitality management company headquartered in Colorado. With more than 35 independent, luxury and upscale hotels, resorts and golf clubs, Destination is the third largest hospitality management company in the country. The company’s portfolio features more than 8,200 guest rooms, 15 golf courses and 16 full-service spas. Destination Hotels & Resorts properties are located in key metropolitan and resort markets including Washington, D.C., Seattle, Denver, San Diego, Santa Fe, Aspen, Austin, Phoenix, Portland, Palm Springs, Maui and Lake Tahoe. The company is a subsidiary of Los Angeles-based investment, development and management firm Lowe Enterprises.
About Blue Vista Capital Management
Blue Vista Capital Management, LLC is an investment management firm based in Chicago, Illinois that currently manages funds on behalf of more than 25 institutional investors, including public and private pension funds, endowments, foundations and insurance companies as well as high net worth individuals. Currently, BVCM invests through three commingled closed end investment funds and one separate account, which are currently invested in over $2.9 billion in real estate. BVCM’s investment strategy emphasizes capitalizing on current real estate market dynamics, adding value to real estate investments in the firm’s portfolio and creating attractive returns at each stage of the investment cycle. BVCM leverages off of its and its affiliates’ existing relationships and forms strategic investment alliances with established local, regional and national real estate owners and operators to access opportunistic investments and create value in undervalued properties.
About Singerman Real Estate
Singerman Real Estate, LLC is an opportunistic and value-add real estate investment firm that has a depth of experience executing complex transactions and unlocking embedded value during the course of ownership in properties, real estate loans, and real estate operating companies. SRE focuses on maximizing risk-adjusted returns through investments in both debt and equity across all major asset classes including office, retail, hotel, multi-family and senior housing. Mr. Singerman, Managing Partner of SRE, has sourced over $1.5 billion of direct investments in properties and performing and non-performing loans.
For a complete list of properties in the Destination Hotels & Resorts collection, please visit www.destinationhotels.com.