AJ Capital Partners Expands Internationally With Acquisition of DoubleTree by Hilton Hotel Cambridge City Centre in England

United Kingdom, Cambridge. August 28, 2019

Adventurous Journeys (AJ) Capital Partners announced today that it has acquired the DoubleTree by Hilton Hotel Cambridge City Centre in Cambridge, England. This marks the first Graduate Hotels® property to debut outside of the United States. The hotel will continue to operate as DoubleTree by Hilton until the end of the year. Renovations will begin in early 2020, and the 148-key hotel will debut as Graduate Cambridge, part of the Graduate Hotels collection, in summer 2020.

Created for travelers who seek memory-making journeys, Graduate Hotels is a thoughtfully crafted collection of hotels that reside in the most dynamic university-anchored cities. Each property celebrates and commemorates the optimistic energy of its community while offering an extended retreat to places that often play host to the best days of our lives. There are currently 15 Graduate Hotels open and operating across the U.S. and an additional 17 properties under development and slated to open by the end of 2020. Founded by CEO Ben Weprin in 2014, Graduate Hotels properties are currently located in several U.S. cities such as Athens, Georgia; Ann Arbor, Michigan; Berkeley, California; Providence, Rhode Island; and Seattle, Washington, amongst others.

Positioned along the scenic banks of the River Cam, Graduate Cambridge is surrounded by the University of Cambridge and within walking distance to several of its renowned colleges. Less than a mile from Regent Street, the city's main thoroughfare, the hotel is in close proximity to the area's best restaurants, bars and shopping, as well as the famed Fitzwilliam Museum and Senate House. Situated 50 miles north of London, Cambridge offers visitors a variety of transportation options to and from major airports and cities throughout England.

"We feel honored to have the opportunity to expand Graduate Hotels into the U.K., and into one of the most historic and prestigious university communities in the world," said Graduate Hotels CEO and founder Ben Weprin. "Our team is incredibly humbled and inspired as we embark on bringing our signature hospitality experience to Cambridge."

Design throughout Graduate Cambridge will take inspiration from hundreds of years of rich university history and tradition, as well as the hotel's lush, riverfront location. Guests can expect light, whimsical fabrics complemented by dark woods and defined architectural elements that create a distinct sense of place. Similar to Graduate Hotels properties throughout the U.S., the decor will hint at Cambridge's unique history, prestigious alumni and geographic positioning, creating a constant state of discovery for both travelers and locals alike.

The hotel will undergo a complete interior renovation that will include all guest rooms, the fitness club and pool, and ground floor common and event spaces. The ground floor conversion will include the addition of Poindexter, Graduate Hotels' signature cafeĢ and bar concept, as well as the renovation of the full-service restaurant.

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.