Regent Hotels & Resorts has signed a strategic partnership agreement with Salt Lake City-based real estate development and management company Cottonwood Management, and will return the North American market after a 10-year absence. The two companies will launch two new mixed-used developments in Boston’s Seaport district, and a property on Fifth Avenue in New York.
Plans are progressing for one of the Boston developments, which will span more than one million square feet, and consist of three towers containing 900,000 square feet of residential space, including Regent-branded residences and serviced apartments, and 125,000 square feet of retail space. Regent will also launch its new Dining Club concept in Boston, which will offer hotel guests a fine dining experience and a place for relaxation.
“We have always enjoyed a strong brand presence in the U.S. market as a result of our original properties in New York City, Boston, Chicago, and Beverly Hills,” says Steven Pan, chairman of Regent Hotels & Resorts. “We have intended to return to Regent cities in the U.S. and are happy to find the rightful partnership through Cottonwood Management.”
“Regent is a global brand that is synonymous with hospitality,” adds Alexander Shing, chairman and founder of Cottonwood Management. “It has a rich history in the North American market and demonstrates a thorough understanding of contemporary luxury with a global sensibility, making them a natural partner for us to unlock the value of Cottonwood Management’s real estate platform.”
