Luxury urban hotel operator EOS Hospitality grew its portfolio with a $177 million hotel buy in Brooklyn, New York.
New York-based EOS Hospitality acquired the 183-key William Vale Hotel in a court-approved bankruptcy sale, according to a release obtained by Hotel Dive from A&G Real Estate Partners, which, along with global real estate investment bank Eastdil Secured, marketed the hotel’s sale.
EOS Hospitality also assumed management of the hotel, which boasts unobstructed views of Manhattan, according to a separate news release published Thursday by the full-service hospitality company.
The luxury property, built in 2016, features dining concepts by restaurateur Andrew Carmellini as well as 7,300 square feet of indoor and outdoor events space. The hotel also offers one of largest pools in New York City, according to EOS Hospitality.
The William Vale Hotel represents EOS Hospitality's first property in the New York City market, the company detailed in the release.
Located in “one of New York City’s most dynamic neighborhoods,” the hotel is “uniquely positioned for continued growth,” EOS Investors Vice President Jenna Kronenfeld said in a statement.
Founded in 2017, EOS Hospitality has more than doubled its portfolio size every year since 2019, according to the company. EOS Hospitality presently operates more than 50 hotels, with more than 8,000 keys, across the U.S., notably spanning California and Maine.
EOS Hospitality appointed William van Wassenhove as managing director at The William Vale Hotel.
The acquisition followed a three-year “ownership restructuring and litigation process” and resulted in full payment of all outstanding secured bonds, according to A&G Real Estate Partners.
