CB Richard Ellis Hotels has been retained to solicit the sale or recapitalization of the five-property Willow Hotels portfolio.
The portfolio is comprised of three boutique hotels in Manhattan—The Shoreham, The Mansfield and The Franklin—along with Hilton Embassy Row in Washington and Hotel Pur in Quebec City. The hotels comprise 826 guestrooms.
The asking price has not been publicly announced.
"We are excited to present such a high-quality offering to the market," says William Shanahan, vice chairman of CBRE. "There are very few opportunities for an investor to gain such a strategic and significant foothold throughout these top lodging markets."
Along with Shanahan, Senior Associate Bradley Burwell and Executive Vice President Ron Danko are leading the sale and recapitalization effort for Willow Hotels.