COVINGTON, Kentucky—Commonwealth Hotels announced a strategic alliance with Radisson Hotel Group Americas and Lockwood Development Partners to acquire and jointly re-develop nine hotels across eight states in partnership with Veteran Services USA, forming a vast network of new multi-use developments such as housing, senior daytime activities and care, and career training and reskilling resource locations for veterans across the country. The properties will be franchised with Radisson and managed by the Commonwealth team.
“Commonwealth Hotels is a growth organization, and this alliance with Lockwood Development Partners, Radisson, and Veteran Services USA is very important to our strategic plan,” said Bryan Hayes, managing partner, Commonwealth Hotels. “We couldn’t be more excited to be a part of this exciting plan to right-size several iconic hotels in vibrant markets while providing vital housing to veterans around the country.”
The agreement positions Radisson Hotel Group Americas progressively in its ability to evolve the hotel development landscape alongside Commonwealth Hotels. Commonwealth will operate and manage all nine properties, making it one of the largest franchisors with Radisson. Commonwealth will undertake a comprehensive multi-million-dollar renovation of the properties—adaptive mixed-use hotel conversions built on the Radisson Hotel Group Americas brand and development principals. The alliance creates a model that will bifurcate buildings with separate entrances for residential and hotel use, putting them to their highest and best use by repurposing distressed properties fitting today’s environment. Additionally, the partnership benefits America’s veterans and senior communities that visit for programs and care.
“We are the sum of our parts, and by harnessing the acumen behind Radisson, Commonwealth, and Lockwood, we are delivering on our promise to create a new standard for adaptive re-use projects by serving communities across the United States,” said Charles Everhardt, principal, Lockwood Development Partners. “This dynamic partnership we have assembled addresses the growing demand for veterans housing and senior daytime care while infusing the latest trends from the hospitality industry under one roof, providing a unique concept spearheaded by category leaders.”
“The strategic alignment between Radisson Hotel Group Americas, Lockwood Development Partners, and Commonwealth Hotels continues to define the fast-paced vitalization of Radisson throughout the globe. This unique concept of redefining the large full-service hotels into more efficient mixed-use facilities, with profitability top-of-mind, has been discussed for years; the vision of Lockwood Development Partners, Veteran Services USA, combined with the leadership of Commonwealth Hotels has brought the concept to life,” said Phil Hugh, chief development officer, Radisson Hotel Group Americas. “Radisson Hotel Group Americas is honored to be selected as the brand of choice for the concept and is proud to be able to give new options to the veterans of this great country.”
Radisson Hotel Group Americas proudly works with the USO through Radisson’s Military 1st program, which honors active military, veterans, retirees, and their spouses. Similarly, Lockwood Development Partners is committed to being the leading developer and provider of best-in-class housing facilities with programs for veterans and maintains a partnership with VSUSA in pursuit of that commitment.