AWH Partners, LLC (“AWH”), a vertically integrated real estate investment, development, and management firm, today announced the acquisition of the management and operations of The Grove Resort & Water Park (the “Grove” or the “Resort”), a unique, independent resort located on 106 acres in Orlando, Florida. AWH’s wholly-owned hotel management company, Spire Hospitality, has assumed management of The Grove, including its best-in-class condo-hotel rental program and its extensive amenities. Terms of the transaction were not disclosed.
The Grove currently consists of 878 two- and three-bedroom suites averaging more than 1,300 square feet, and most of which are enrolled in the rental management program. Opened in phases between 2017 and 2019, the Resort offers four restaurants, a seven-acre water park, three full-sized swimming pools, a full-service spa, a meeting center with 6,000 square feet of meeting space, a children’s activity center, an arcade, and a fitness center. The newly built, upscale family resort is located on Lake Austin, an 18-acre resort amenity, and is a 15-minute drive from Walt Disney World.
“Located in one of the most visited and robust tourism markets in the U.S., The Grove has a significant competitive advantage offering guests large, newly completed suites, as well as an array of amenities for easily accessible family fun,” said Jon Rosenfeld, co-founder and managing partner of AWH Partners. “One of the aspects that attracted us to The Grove was its best-in-class condo-hotel rental management program. By centralizing management across all aspects of the Resort, The Grove ensures a consistently high-quality guest experience.”
Chad Cooley, co-founder and managing partner of AWH Partners, added, “The Grove, well-positioned to continue to outperform competition in Orlando and beyond, is the perfect anchor investment for our new condo-hotel strategy, and represents a new business line for AWH. In a market environment where opportunities have been few and far between, we believe we have substantial runway to grow this new platform in the coming months and years.”
“AWH is thrilled to welcome The Grove into our growing portfolio of high-performing hospitality assets, and we are eager to rapidly expand into the condo-hotel space. We are capitalized to aggressively pursue new acquisitions of best-in-class operations across the country and beyond,” concluded Russ Flicker, co-founder and managing partner of AWH Partners.
About Spire Hospitality
Spire Hospitality, led by CEO Chris Russell, is a third-party operator of 7,033 room keys and over 350,000 square feet of meeting space across 20 states. The Spire portfolio, with a focus on large, full-service hotels, includes unique independent properties and premier branded assets across Hilton Hotels & Resorts (HLT), Marriott International (MAR) and InterContinental Hotels Group (IHG). Spire Hospitality offers expertise in all facets of hospitality management and is committed to preserving, protecting and enhancing the value of hotel real estate. www.spirehotels.com
About AWH Partners, LLC
AWH Partners, LLC (“AWH”) is a privately held, vertically integrated real estate investment, development, and management firm that has invested in over 10,000 hotel rooms across 35 hotels, representing billions of total real estate value. The firm’s unique operating model and boutique nature enable it to source, structure and execute hospitality real estate investments on a streamlined and expeditious timeline. Since 2010, AWH and its principals, Russ Flicker, Jon Rosenfeld and Chad Cooley, have amassed a sizeable portfolio of hotels across the country. AWH also owns Spire Hospitality, a top-tier, national hospitality platform and AWH Development, a full-service real estate development company, providing complete vertical integration in the hospitality investment space. For more information, please visit www.awhpartners.com.