Whitestone Portfolio
Whitestone Portfolio
Various
In 2021, Crawford Hoying acquired a five-property hotel portfolio from Whitestone Companies with locations in Taos, New Mexico, Neenah, Wisconsin, Wilkes-Barre, Pennsylvania and Huntington, West Virginia. At the time, the portfolio was managed by the Whitestone Companies. Crawford Hoying retained the Regal Hospitality, an affiliate of Whitestone, as the management company for the portfolio.
The portfolio was an exciting investment for several reasons. For one, each property was strategically located within the respective submarkets in unique locations that would benefit from the resurgence of the travel industry. Also, much of the portfolio was in the midst of renovation - the value of which had not yet fully been realized by the properties. Finally, Whitestone and Crawford Hoying were both excited to combine Whitestone’s hospitality experience with Crawford Hoying’s facilities and construction expertise; the combination was well suited to maximizing the value of these assets.
The portfolio consists of the following five hotels:
DoubleTree by Hilton Huntington - The 199-key DoubleTree by Hilton Huntington is located at 1001 3rd Avenue, Huntington, West Virginia, overlooking the Ohio River. Although it is a convention center hotel, the DoubleTree is also the only Hilton full service hotel that has additional mixed-use components. It is strategically located within close proximity to downtown Huntington, and centrally positioned to all major civic amenities and many recreational/tourist attractions.
DoubleTree by Hilton Neenah - Located at 123 East Wisconsin Avenue in Neenah, Wisconsin, this DoubleTree by Hilton Neenah is an upscale 107-key hotel renovated in 2003. It’s ideally situated in the scenic area of Wisconsin’s Lake Winnebago and surrounded by a selection of golf courses, including Ridgeway Country Club and Westridge Golf Course. The DoubleTree Neenah is within walking distance to many state parks including Shattuck Park, Kimberly Point Park, Riverside Park, and Island Park, and is minutes away from Wisconsin’s Appleton International Airport.
Hampton by Hilton Taos - The Hampton by Hilton Taos, located at 1515 Paseo Del Pueblo Sur in Taos, New Mexico, is an upper midscale hotel featuring 71 keys and was built in 1998 near New Mexico’s Lower Taos Canyon. Hampton Inn is next to many trails, and is only a short driving-distance from Red River Canyon and Taos Ski Valley.
Hotel Don Fernando de Taos - With close proximity to downtown Taos, New Mexico at 1005 Paseo Del Pueblo Sur, the Hotel Don Fernando de Taos is positioned near all major civic amenities, recreational and tourist attractions. The 126-key hotel is within a 2-hour drive from major cities, such as Albuquerque and Santa Fe. The hotel is also near the Taos Regional Airport SKX, Harwood Museum of Art, Taos Art Museum, Millicent Rogers Museum, Taos Valley, Rio Grande, Taos Pueblo, restaurants and cafes.
Holiday Inn Wilkes Barre - Renovated in 2012, Holiday Inn Wilkes Barre is an upper midscale hotel featuring 152 keys and is located next to Geisinger Wyoming Valley Medical Center. The hotel is located at 600 Wildflower Drive in Wilkes-Barre, Pennsylvania, placing it near all major civic amenities, airports, restaurants, recreational and tourist attractions, and within a 2-3 hours drive from major metros such as Philadelphia and New York City.