Laurus Corporation Acquires Hilton Hotel in Kansas City
LOS ANGELES—Laurus Corporation, a U.S.-based private real estate investment and development firm, announced that it has acquired the Hilton Kansas City Airport hotel in Kansas City, MO. The Hilton Kansas City Airport includes 347 guestrooms and suites, and provides 21,000 square feet of meeting space options in the Kansas City airport submarket. READER COMMENTS
"This is Laurus' second closing on a Hilton property in the past week and completes our sixth acquisition for 2012," said Andres Szita, chairman and co-founder of Laurus Corporation. "Both the Hiltons offer investors quality full-service hotels in markets that have experienced significant RevPar growth over the past 12 months."
"The Kansas City market features robust demand drivers and various value-add opportunities through renovation, operating efficiencies and management," noted Jean Paul Szita, president & chief financial officer of Laurus Corporation. "We will execute an $8 million property improvement plan that will greatly elevate guest experience and NOI in the coming years."
Renovations include a modernization of the lobby and surrounding restaurant and bar. Guestrooms, meeting space, and common areas will be revamped to elevate the overall guest satisfaction.
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