Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | Midas Enterprises Opens Its First Los Angeles Hotel in Downtown LancasterSt. Louis hotel developer partners with Los Angeles-based InSite Development to open the new Residence Inn Lancaster-Palmdale
By: Midas Hospitality Located at 857 W. Lancaster Blvd. in Lancaster, Calif., the new four-story hotel is near several aerospace businesses including The Boeing Company, Lockheed Martin, and Northrop Grumman Corporation. "The hotel's public art pays homage to the area's rich aerospace history and is on the direct path of the city's Aerospace Walk of Honor, which recognizes the important contributions of distinguished test pilots who have contributed to aviation, space research and development," The hotel features an outdoor pool, onsite gym, and ample outdoor space with barbecue and fire pits for its guests. Kurt Helm, who has more than 10 years of hotel leadership experience in Arizona and California, was appointed General Manager. "This property offered a unique investment opportunity to both private individuals and institutional investors in terms of the area's potential growth possibilities," The new Residence Inn hotel is the second opportunity zone investment by Midas, which co-developed the property with Los Angeles-based InSite Development. Midas successfully raised $12 million for the opportunity zone fund that, under the Tax Cuts and Jobs Act (TCJA), provides tax incentives for specific investments. Founded in 2006, Midas Enterprises is a fully integrated real estate enterprise with business units specializing in capital generation, construction, and management services for hospitality properties and adjacent investments. With partners including Hilton, Marriott, and IHG, Midas brings institutional- End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|