Press Release: Greystone Hotels Acquires New Property - Hotel Los Gatos

About 1 year(s) ago by Greystone Hotels

Greystone Hotels Completes Acquisition of Hotel Los Gatos The 72-Room Property Had Been in Bankruptcy Since 2011  

Los Gatos, CA, €" Eric Horodas, President of Greystone Hotels (www.greystonehotels.com) officially announces the purchase of the 72-room Hotel Los Gatos, removing the property formerly owned and operated by Los Gatos Hotel Corporation out of bankruptcy court and into the Greystone family. The final sale price was $28.75 million. Greystone Hotels takes over all management, operations and ownership of the 72-room, full-service hotel as of 12:01am on October 8th. A deal three years in the making, Greystone Hotels adds its 11th hotel to its West Coast portfolio, bringing the total number of California owned properties to 8. As a part of the acquisition, Hotel Los Gatos will continue to be the home to the Michelin rated restaurant, Dio Deka, and a full service medical spa. The Hotel Los Gatos opened 2002. €œWe've been working hard for three years to bring this, €˜Gem of the South Bay' into the Greystone Hotels family,€ said Greystone President Eric Horodas. €œIt's an exciting time for us and we could not be any happier to take over full operation and management of such a special hotel property.€ There will be no break in hotel services, as Greystone management will seamlessly take over all aspects of the hotel business as of 12:01am, October 8th.  As a part of the deal, Greystone Hotels has extended employment offers to all existing hotel staff. About The Hotel Los Gatos, Los Gatos, CA: Comfortably nestled at the base of the Santa Cruz Mountains, The Hotel Los Gatos is a short drive from both hyper-paced Silicon Valley and the soothing Santa Cruz coast. Atmospheric guestrooms capture the color and detail of a private villa while its €œMediterranean sophistication€ blends with €œCalifornia charm€ to create a hotel reminiscent of a private villa. Guests can enjoy our sparkling pool, outdoor jacuzzi, tranquil patio areas and warm hospitality, while also being able to reserve a spa appointment (€œCURE Spa€) and make a dining reservation at Dio Deka, our Michelin rated, on-site restaurant specializing in €œFine Hellenic Cuisine.€ Hotel Los Gatos is Silicon Valley's premier luxury hotel address. About Greystone Hotels: An independently owned hotel and hospitality management company, now with 11 West Coast properties in California and Oregon, Greystone Hotels was founded in 1995 by Eric Horodas (President) and Peter Trethewey. Dedicated to superior customer service and eco-friendly hospitality management, the €œGreystone Portfolio€ consists of 8 independent, non-branded boutique hotels and inns, and 3 flagship affiliated properties (Best Western International and Marriott International). Greystone's management focuses on providing exceptional guest experiences for discerning business and leisure travelers.  All of Greystone's hotels offer great value, thoughtful amenities, and a comfortable, relaxing environment. We pride ourselves on ensuring that our guests "Experience Exceptional Service." In 2009, all of Greystone's California properties were certified by the California Green Lodging Association for our sustainability efforts, while Greystone's 8 non-branded independent boutique hotels are all members of the L.E. Hotels family - a global hotel representation company. <END RELEASE> Actual Publication Release Date, October 8, 2015
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