Goodwin Procter recently advised Eagle Point Hotel Partners, Cube Capital, KSNY and Simon Development Group in connection with the development of a new hotel brand, Tommie Hotels, launched by Commune Hotels & Resorts. The new hotel line, designed around the concept of “beauty in simplicity,” will target youthful, savvy travelers and will operate at a lower price point in major markets. Features include:
• Communal dining;
• Reading rooms;
• Self check-in; and a
• Grab-and-go marketplace.
Eagle Point, Cube Capital, KSNY and Simon Development will jointly develop the first Tommie Hotel, a 250 room-hotel located on 31st Street in New York City, while Eagle Point and Cube Capital will develop the second, a 329-room hotel in Manhattan’s West SoHo neighborhood. Both locations are expected to open in 2015.
Eagle Point Hotel Partners, founded in 2011 by Stephen Chan and Erik Warner, is a New York-based hotel investment firm primarily targeting midscale, full-service, and boutique hotels in primary and secondary markets across North America.
Cube Capital, founded in 2003, is an independent alternatives boutique advisory firm providing institutional investors with entrepreneurial investment solutions. With 50 employees, the firm has offices in London, Hong Kong, Moscow, Shanghai and Beijing.
Based in New York City and founded by Keith Schwebel, KSNY is an owner, operator, developer and builder of real estate. KSNY creates value by analyzing markets, identifying unmet demand, and creating differentiated products to meet that demand.
Simon Development Group develops, owns, manages and asset manages a diverse portfolio of residential, hotel, retail and industrial space. The portfolio includes 13 buildings containing approximately 700 residential units, a roster of national retail stores, a to-be-built 260 room boutique hotel and 160,000 square feet of commercial space. Based in New York City, the company’s properties span Manhattan, Brooklyn and Connecticut.