OTO Development Awarded Management Contract of Hilton Garden Inn, Hampton & SpringHill Suites Hotels

May 5, 2015 | Awards

OTO Development announces that it has been awarded the management contracts for five new hotels beginning May 1, 2015.

The contract obtained from Blackstone designates OTO Development as the management firm for the following properties in California and Arizona:

• SpringHill Suites Pasadena Arcadia in Arcadia, CA
• Hilton Garden Inn Arcadia Pasadena Area in Arcadia, CA
• Hilton Garden Inn Irvine/East Forest Lake in Foot Hill Ranch, CA
• Hampton Inn Irvine/East Lake Forest in Foot Hill Ranch, CA
• Hampton Inn Phoenix-Midtown-Downtown Area in Phoenix, AZ

“Management contracts like this are an exciting area of continued growth for OTO Development,” commented CEO Corry Oakes. “We look forward to expanding our management portfolio with select-service hotels, an area where we have proven to maximize investor returns. These are all trusted hospitality brands with great reputations, and we’re honored to continue an already well-established relationship with Blackstone.”

The Hampton Inn-Phoenix will be OTO Development’s first Arizona location.

About Blackstone:

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $300 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

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