The Dow Hotel Co., of Seattle, says it has bought the Hilton Long Island, a 304-room full-service hotel and conference venue in Melville, and it will spend $15 million renovating it. There was "incredible interest" in the property, the seller's broker said.
The buyer plans to improve the rooms, corridors, public space, heating and air conditioning, parking and landscaping. The purchase price wasn't disclosed.
“This is the only full-service Hilton on Long Island, and the planned refurbishment will ensure that it retains its position as Long Island’s leading business hotel,” Murray L. Dow II, DHC founder and chief executive, said in a prepared statement.
“This acquisition, our first in the Northeast, advances our nationwide growth plan, and is totally consistent with our strategy of acquiring well regarded hotels in top tier markets with high barriers to new entry.”
The company currently operates in metro Portland, Ore.; Seattle, Los Angeles, Sacramento, Chicago, Houston, San Antonio and Atlanta.
The real estate broker representing the seller was Cushman & Wakefield Sonnenblick Goldman’s global hospitality group. Tom McConnell and Ernest Lee led the Cushman & Wakefield team.
“We received incredible interest during the sale which highlights the continued demand for well located, high quality hotels in the greater New York City area,” McConnell said.
“This hotel is one of the premier full-service hotels and meeting destinations in Long Island.”
The Dow company describes itself as "a hotel owner-investor and management company." It owns only high-profile hotel brands such as Marriott and Starwood.
The purchase was made in a joint venture with Prudential Insurance Co. of America for an undisclosed amount.
The seller is Melville Hotel Owner 2010 Llc.