February 20, 2012
LOS ANGELES – Emboldened by a buyer’s market, Portman Holdings LLC is adding hotel acquisitions to its repertoire.
The company, historically a real-estate development, management and investment company, is adding an acquisitions team in an attempt to pick up hotels that have seen their values battered during the downturn.
“Acquisition is sort of the flavor of the day,” Jeff Warwick, Portman’s managing director of U.S. investments, said during a break at last month’s Americas Lodging Investment Summit. “We’re ramping up that line of business.”