Xenia Hotels & Resorts has made a $136 million agreement to acquire the Hotel Commonwealth in Boston.
“We are excited to have reached an agreement to acquire the Hotel Commonwealth, which allows us the opportunity to expand our presence in the Boston market,” says Marcel Verbaas, president and CEO of Xenia Hotels & Resorts. “With the addition of this hotel, the upcoming completion of our Grand Bohemian Hotels in Mountain Brook and Charleston, and our recent acquisition of the three Kimpton hotels in Portland [Oregon], Philadelphia, and Santa Barbara, we have successfully increased our presence in the lifestyle boutique segment across a number of dynamic lodging markets—a key component of our strategy.”
Located in the city’s Kenmore Square neighborhood near Fenway Park and Boston University, the independent, boutique hotel, built in 2003, is currently undergoing a top-to-bottom renovation, the second phase of which—a $1 million lobby redesign by Long Island City, New York-based dash design—was recently completed.
Following the renovation, the hotel will offer 245 spacious accommodations and a new six-story wing with 96 guestrooms, more than 7,000 square feet of indoor meeting space, 1,700 square feet of outdoor patio space, and a three-level parking garage.
Three F&B outlets—Eastern Standard restaurant, the Island Creek Oyster Bar, and the Hawthorne lounge—and 12,000 square feet of retail space are currently positioned street-level below the hotel and will be acquired in the transaction.
Sage Hospitality will continue to manage the hotel once the renovation wraps up this November, though the transaction will not close until early next year.
