San Clemente, CA , February 20, 2014 – A partnership formed by an affiliate of Argosy Real Estate and senior principals of Evolution Hospitality acquired the DoubleTree by Hilton LAX – El Segundo on February 14. The hotel, which will be managed by San Clemente, CA based Evolution Hospitality, is located adjacent to Mattel Inc. headquarters in a 7.5 million square-foot corporate park and two miles from Los Angeles International Airport. It features 215 guestrooms, a full-service restaurant and bar, 4,500 square feet of meeting space and a heated outdoor pool and spa. A renovation to update the guestrooms, lobby and restaurant is planned for late 2014.
“DoubleTree by Hilton LAX – El Segundo has consistently shown a strong operating performance even during the recent economic downturn. We’re excited to welcome the hotel’s highly functioning associates to our family, and equally excited for our growing relationship with Argosy Real Estate,” said John Murphy, president of Evolution Hospitality.
About Evolution Hospitality
Evolution Hospitality is a privately-owned, hospitality investment and management firm located in San Clemente, California. A sampling of Evolution-managed properties includes The Queen Mary Long Beach, Hilton Long Beach & Executive Meeting Center, Hard Rock Hotel San Diego, Hotel Adagio San Francisco, Hyatt Fisherman’s Wharf San Francisco, Hotel MdR – A DoubleTree by Hilton in Marina del Rey, and Desert Princess Palm Springs Golf Resort. For more information, please visit www.evolutionhospitality.com.
About Argosy Real Estate
Argosy Real Estate specializes in opportunistic real estate investments, serving both institutional investors and high net worth individuals. Through joint venture structures, Argosy Real Estate partners with entrepreneurial real estate operating partners possessing significant local market knowledge, specific asset category experience and a demonstrated track record of operating success. Argosy Real Estate currently has in excess of $225 million in equity value of assets under management.
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