Certares & Belcourt Capital Acquire Hilton Back Bay in Boston for $171M

JLL's Hotels & Hospitality group recently facilitated the sale of the Hilton Back Bay hotel in Boston for $171 million. Acting on behalf of the seller, Ashford Hospitality Trust, JLL orchestrated the transaction, connecting the seller with the joint venture between Certares and Belcourt Capital Partners. Additionally, JLL arranged acquisition financing for the buyer.

Property Features and Location

The Hilton Back Bay hotel boasts 390 rooms and various amenities, including a 209-space parking garage, a restaurant and bar, fitness center, and outdoor spaces. Strategically situated at 40 Dalton St. in Boston's Back Bay neighborhood, the hotel enjoys proximity to key attractions such as the Hynes Convention Center, Prudential Center, Fenway Park, and various educational institutions like Berklee College of Music and Northeastern University.

Boston's Lodging Market Dynamics

Boston stands out as a vibrant lodging market due to its distinctive supply and demand dynamics. The city benefits from a diverse array of demand generators, including robust tourism, a growing corporate presence, leading medical and academic institutions, a thriving life sciences sector, and top-notch convention facilities.

Sales and Financing Details

The transaction was led by Kevin Davis, Americas CEO of JLL, with Alan Suzuki spearheading the investment sales effort. Matthew Enright, Stephany Chen, and Emily Zhang also played key roles in the sales process, while Barnett Wu and Jonathan Schneider led the financing efforts. Davis highlighted the overwhelming response from both equity and debt markets, emphasizing the property's appeal due to its strong cash flow and potential for renovation amidst Boston's market recovery.