Excel Group and Ares Management Team Up to Expand Hospitality Portfolio
EXCEL GROUP, A private equity firm, recently secured investment from Los Angeles-based Ares Management for a portfolio of eight Marriott and Hilton hotels. The assets, primarily on the U.S. East Coast, include limited-service, select-service and extended-stay properties.
The investment amount was not disclosed, but the deal includes additional capital for Excel Group's portfolio growth, the companies said in a joint statement.
Arlington, Virginia-based Excel is led by founder and principal Shoham Amin.
“This transaction is a pivotal milestone for Excel that builds on our team’s exceptional work to date,” Amin said. “Our collaboration with Ares combines significant capital resources and a deep understanding of the hospitality landscape. We are excited to have Ares’s strategic support as we expand our portfolio and seek to achieve even greater success in the future.”
Founded in 2011, Excel owns, develops, invests in and manages U.S. hotel assets, having acquired about $1 billion in hotel real estate, the statement said.
Jamie Sunday, Ares Management’s co-head of real estate secondaries, said they are excited to partner with Amin and Excel to capitalize on strong fundamentals in the limited- and select-service hotel segments.
"We look forward to working closely with the Excel team and strategically adding hotels to the existing portfolio," he said.
As of year-end 2024, Ares managed more than $525 billion in assets. Park Madison Partners was the exclusive financial advisor on the transaction.
In November, Excel acquired the 209-room Embassy Suites by Hilton Syracuse Destiny USA in Syracuse, New York, its third purchase in the state.
