Element by Westin
Hotel Innvestor met with landowners that were exploring the possible redevelopment of an antiquated one-story structure on their land into a new hotel. The landowners were not developers or hoteliers and had identified a second-tier franchise and planned to use SBA financing for construction. HI recognized the opportunity for an extended stay hotel on the site and proceeded to put all the pieces together to make it happen. First, they brought in one of their development partners and jointly moved to secure the Marriott Element franchise for the project. HI then facilitated the negotiations to create a new joint-venture between the landowners, the developer/manager and additional equity partners including direct investment from HI and sourced the construction debt. The result is the 124-suite Element by Westin located in Irvine, California about 1 mile from John Wayne Airport.