SCOTTSDALE, AZ-To take advantage of opportunities anticipated in 2009, third-party hospitality and asset management company Ardent Hotel Advisors brought Steven Surgent on board to create Ardent Hotel Investors. Ardent Hotel Investors is on the hunt for acquisition of upscale hotels exceeding 200 rooms with upside potential and valued between $25 million and $75 million.

“We have equity in place to take advantage of compelling opportunities right now,” comments Surgent, who came on board as Ardent Hotel Advisors’ principal in late 2008. He says he’s tracking some deals on the acquisition side but is still waiting for the right one.

“There’s still a disconnect between seller and buyer in terms of pricing,” he explains. “As sellers become more motivated as fundamentals deteriorate, pricing will come down.”

And that’s when Ardent Hotel Investors will be poised to take advantage of the market, within the next six to 12 months. Surgent tells the company already joined forces with what he dubs a “group of high net-worth individuals we’ve partnered with in the past.” He says Ardent Hotel Investors is also interested in forming other joint ventures, one of which will be finalized within the next couple of weeks. Also on tap is formation of a $200 million equity fund for acquisitions.

Surgent was previously vice president of acquisitions for Everest Holdings in Scottsdale and says having control over the assets once they were purchased was great incentive for him to move to Ardent. Meanwhile, Ardent Hotel Advisors principal Jim Evans has the management experience in hospitality product, Surgent says, but hadn’t done any investment. The result was positive synergy.

“I’m the first piece of the puzzle,” he comments, adding that a research analyst will likely be hired to help out once plans are further solidified and depending on how many deals are under examination. “On the operations side, as the number of properties continue to grow, we’ll hire someone,” he adds.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.