Lane Hotels Acquired by August Group and Winston Harton JV
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Wednesday, April 25, 2012
AWH Partners LLC, a joint venture of August Group Ventures LLC and Winston Harton Holdings LLC has acquired Lane Hotels Inc., a third-party operator based in Northbrook, Ill. The transaction includes individual hotels owned by Lane Hospitality LLC. The terms of the deal were not disclosed. Lane's portfolio currently comprises 17 properties. The company's owned properties include the Hilton Jackson and the Courtyard Gulfport Beachfront in Mississippi, the Holiday Inn Clark in New Jersey, and the Doubletree Annapolis, Md.
August Group Ventures was formed in 2009 by Chad Cooley, a former Related Group VP, to pursue opportunities in the hospitality market. Winston Harton Holdings was created by Russell Flicker and Jonathon Rosenfeld, both formerly with Blackstone Real Estate, in order to acquire distressed real estate.
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