News
This Thursday in Beverly Hills
December 17, 2013
There are eight days to go before Christmas, but only two days left before Bisnow's SoCal Hospitality Summit Thursday morning at The Montage Beverly Hills. (There's still time to register.) Last week, we chatted with Platinum Equity principal Mark Wiesenthal (snapped at our Capital Markets Summit in September), who says the operator of 3.5-star hotels may broaden its horizons a bit in 2014 to include some select-service properties. The value-add buyer is looking for acquisitions that offer upside through project improvement plans or changes in management or brand. Mark tells us Platinum owns 12 hotels and has been focused on completing PIPs on eight, getting 'em ready to "hit the world as newly renovated hotels."
