Highline Hospitality Partners, the hospitality investment platform launched by Highline Real Estate Partners, acquired the Westin Poinsett in Greenville, S.C. Other terms and conditions were not disclosed.
The transaction marks Highline’s 19th hotel acquisition and its third acquisition this year, after having acquired the Pittsburgh Marriott North in February and the Hilton DFW Lakes Executive Conference Center earlier in March.
Constructed in 1925 and included on the National Register of Historic Places as well as the Historic Hotels of America registry, the 11-story hotel has 200 guestrooms, a full-service restaurant and lobby bar, street-fronting coffee shop and nearly 10,000-square-feet of meeting space including two 3,200-square-feet art-deco inspired grand ballrooms.
Highline Hospitality now oversees a portfolio of 19 hotels comprising over 5,200 guestrooms and more than $1.6 billion in hospitality assets under management. In addition, the firm provides third-party asset management services for four additional hotels on behalf of an institutional ownership group, bringing the total number of hospitality properties overseen by Highline to 23.
Highline has engaged HEI Hotels & Resorts to manage the hotel, marking the second strategic partnership between the two firms. HEI brings deep operational expertise and a strong track record in hospitality management, aligning with Highline’s strategy of driving operational excellence and long-term value creation.
“We are pleased to add the Westin Poinsett to our portfolio and to expand our relationship with HEI,” Chuck Pomerantz, managing partner of Highline Hospitality Partners, said in a statement. “As one of Greenville’s most iconic properties, the hotel has played a meaningful role in the city’s history for many decades, and we lookforward to assuming the stewardship of its legacy to ensure it remains a vital part of the community for years to come.”
“We were fortunate to be one of a very small group of investors afforded the opportunity to pursue the potential acquisition of the Westin Poinsett, thanks to the track record we have built over the years,” said Todd Roffman, Partner and CIO of Highline Hospitality Partners. “We understand the hotel’s significance to the city of Greenville, and we are excited to be a part of writing its next chapter."
In the coming years, Highline plans to pursue targeted renovations to all aspects of the hotel to enhance its competitive positioning within the Greenville hospitality market.