APRIL 19, 2018 – EL PASO, TEXAS – Colorado-based Elevation Hotel Management, which took over the management of three hotels in El Paso from TVO North America earlier this year, is investing $2.4 million to renovate the Marriott Courtyard hotel near the airport.
Elevation, a subsidiary of ASI Capital, plans to begin work in May. Renovations include updates to the exterior of the hotel, the hotel’s 90 rooms and the lobby.
“Marriott has given us until the end of September to complete that project,” said Michelle Kaip, president of Elevation Hotel Management. “It will be about five months of a lot of projects, but we have that planned out.”
The Courtyard hotel will remain open during renovations, Kaip said.
In December, the company assumed management of the Courtyard at 6610 International, the Holiday Inn at 900 Sunland Park, and the Hilton Garden Inn at 111 W. University, from TVO North America, which has been hit with allegations of theft and fraud.
“That hotel was built in 2002 and has had no renovations to the sleeping rooms or to the exterior. It went through a small renovation in the lobby area,” Kaip said. “It’s in need of this renovation and is really going to rebrand that hotel.”
Elevation Hotel Management just finished its $150,000 renovation of the Hilton Garden Inn lobby. The company also invested $1.5 million to renovate the Holiday Inn with support from Legna International Trade, which provided a $700,000 investment.
Kaip said ASI Capital has been in El Paso for almost a decade and is interested in growing it’s footprint here.
“Beyond the three hotels, ASI Capital is investing in some medical facilities as well as multifamily projects,” said Clem Borkowski, Managing Partner of ASI Capital. “Our interests in El Paso is not just in hospitality, but in several sectors. We’ve been investing in the city for going on a decade, and are very proud of how the city has positively responded to our participation in it’s growth.”
(Content Credit: Aaron Montes / El Paso Inc. Reporter)
About Elevation Hotel Management
Elevation Hotel Management is a subsidiary of ASI Capital LLC, a private equity firm based in Colorado Springs, Colorado. Currently they own and operate hotels in the El Paso area with plans to expand its holdings within the region.
If you would like more information about this topic, please call Clem Borkowski at 719-225-4003, or visit online at: www.asicapital.com