BOSTON– Electra America Hospitality Group, a rapidly expanding hospitality fund, announces that it has acquired the 190-room Kimpton Nine Zero, a small, luxury hotel located in downtown Boston, adjacent to the Boston Common, the State House, the Financial District and the “Freedom Trail,” a collection of historic museums, churches, meeting houses, burial grounds, and other notable Boston landmarks that tell the story of the American Revolution.
The property will be converted immediately upon acquisition into “Hotel AKA Boston Common,” offering a mix of short-term and extended-stay lodging options catering to the upscale leisure and corporate traveler.
The property was acquired in an off-market transaction for an undisclosed price.
This is EAHG’s and AKA’s second hotel in Boston. In August of 2022, EAHG acquired and converted the 225-room Loews Boston Hotel into Hotel AKA Back Bay.
“With this acquisition, EAHG now owns two distinctive, very complementary luxury hotel assets in the heart of Boston’s business and tourism districts,” says Russ Urban, CEO of EAHG. “While Hotel AKA Boston Common appeals more to leisure travelers given its location just steps from all the major historical landmarks, Hotel AKA Back Bay tends to draw the sophisticated business traveler. Together, the properties complement each other well and afford AKA the opportunity to capitalize on operational economies of scale. We’re tremendously excited to add this stellar property to the portfolio.”
“AKA’s strategic expansion led to our second Boston hotel opening within a year,” said Larry Korman, CEO of AKA. “Each of our Boston hotels on the opposite ends of the city’s parks, Boston Common and Boston Public Garden, give us the opportunity to offer our guests a contrasting design vernacular to reflect the two neighborhoods. The refresh of this new property will bring a design ethos that draws upon the cultural nuances of its vibrant, downtown location. More modern, eclectic, and chic, it is the perfect complement to Hotel AKA Back Bay, that is a historic building with design that is timely and elegant.”
EAHG will invest $15 million in renovations to bring the property up to AKA brand standards. The property will feature luxury suites with views of the Boston Common and an enhanced, popular neighborhood dining venue.
Since launching two years ago, EAHG has acquired seven hotels in the United States, helping AKA expand its portfolio in cities including Manhattan and Washington D.C., and establish a presence in cities including Boston, Miami and West Palm Beach.
