Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PASADENA, CA-A joint venture of the Carlyle Group and Wilton Hill, president of Davidson Hotel Co., has acquired the 296-room, 14-story Hilton Pasadena from the Shidler Group of San Diego. Terms of the sale were not disclosed, but industry sources believe the new owners paid $38 million for the property.Memphis-based Davidson will manage the hotel, which will be operated under a franchise license agreement with Hilton Hotels Corp. The new owners plan a $4.5-million renovation during the next 12 months, including enhancements and upgrades in guest-rooms, the hotel exterior, the lobby, meeting rooms, and the hotel’s dining facilities.The Hilton Pasadena is two blocks from Old Town Pasadena, across the street from the Pasadena Convention Center and two miles from the Rose Bowl. It features a business center, a fitness center, heated outdoor pool with whirlpool, bar, restaurant, and 27,000 sf of event space. The Carlyle Group is a global private equity firm with more than $18 billion under management. Carlyle’s three US real estate funds, which focus on commercial real estate in major US cities, have more than $1.3 billion in assets under management. Davidson Hotel Co. provides management, development, consulting and accounting expertise for the hospitality industry. It manages 22 hotels comprising 6,000 rooms across the US under such flags as Marriott, Renaissance, Hilton, Radisson and Holiday Inn. Davidson is also a hotel developer, having developed 20 hotels comprising more than 2,500 rooms. It has also planned and completed major renovations at 20 hotels containing more than 5,000 rooms.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.