In a move signaling its U.S. market expansion strategy, Mexican real estate company Parks Hospitality Holdings (PHH) has acquired the Boston Park Plaza hotel in Boston’s central Back Bay neighborhood. The 1,060-key property will see the property transition to Hilton Boston Park Plaza as part of a post-acquisition rebranding initiative.
The hotel features contemporary and pet-friendly guestrooms and suites, two restaurants, a variety of amenities and 70,000 square feet of meetings and event space.
“Acquiring the celebrated Boston Park Plaza is a significant milestone for Parks Hospitality Holdings,” said Charles El-Mann Fasja, CEO at PHH. “This addition to our irreplaceable hotel real estate portfolio marks a new era of expansion for PHH, bringing our expertise in hospitality development and investment from Mexico to locations across the U.S. We’re honored to continue expanding our partnership with Hilton with this iconic project and have future plans to scale our presence across other key U.S. cities.”
Founded in 2006 by Charles El-Mann Fasja, PHH affiliates’ current portfolio includes over 11,000 hotel keys and more than 11,000 U.S.-based multifamily units with an additional 2,000 under development (primarily in Colorado, California and other U.S. Southern locations). As PHH expands its investment reach and strategy, it will continue to work with Hilton and other partners to evolve and grow in the U.S., Mexico, and beyond.
