HIGHGATE TO OPERATE AWARD-WINNING PORTFOLIO OF HOTELS IN PERU

Transaction Solidifies Highgate as a Leading Hotel Manager in the Caribbean and Latin American (CALA) Region Across Branded and Independent Hotels

NEW YORK, March 15, 2022 /PRNewswire-HISPANIC PR WIRE/ – Highgate, a leading hotel management, investment, technology, and development company, announced today the Company’s launch into South America by taking over management of a portfolio of six hotels in Peru, owned by Urbanova – one of Peru’s most notable real estate groups. The deal expands Highgate’s portfolio in the Caribbean and Latin America (CALA) to a total of 26 hotels and resorts, making it one of the largest hospitality management companies in this sought-after region.

Highgate brings to the CALA market a best-in-class management approach, using innovative technology and hands-on in-market resources with a unique perspective that marries local culture with global experience, insight and scale.

The Peru portfolio is comprised of Marriott branded properties in irreplicable locations ranked best-in-class within their respective brands. They include Palacio del Inka Hotel, a Luxury Collection Hotel in Cusco, Tambo del Inka, A Luxury Collection Resort in Urubamba, Hotel Paracas, A Luxury Collection Resort, Aloft Lima Miraflores, AC Hotel Lima Miraflores and the Westin Lima Hotel & Convention Center.

These properties join Highgate’s current CALA portfolio, which includes a diverse collection of hotels and resorts including: The Ocean Club, a Luxury Collection Resort in Costa Norte, Dominican Republic, AC San Juan, Aloft Tulum in Mexico, Acoya Curaçao Resort, the BRIX hotel, an Autograph Collection hotel in Port of Spain, Trinidad and the ROK hotel, a Tapestry Collection hotel in Kingston, Jamaica. Earlier this year, Highgate also announced that it had acquired and assumed management of the Embassy Suites by Hilton San Juan Hotel & Casino.

To oversee the CALA portfolio, which spans 13+ countries including Aruba, Belize, Curacao, Dominica, Dominican Republic, Jamaica, Mexico, Peru, Puerto Rico, St. Lucia, Trinidad and Turks and Caicos, Highgate appointed Marco A. Selva, who recently joined as Senior Vice President of Luxury and Lifestyle Operations.

“We are honored to be awarded the management of Urbanova’s prestigious portfolio,” said Arash Azarbarzin, CEO of Highgate. “There is an enormous opportunity for growth throughout Peru and we look forward to tailoring our hospitality style, activations and best-in-class revenue management to the needs of each region. With Marco at the helm of such an outstanding team and hotel collection, we will establish a new standard for hospitality management in the country. Travelers across the world are increasingly drawn to the beauty and cultural vibrancy of the Caribbean and Latin America, and Highgate will be at the center of the development of these world-class destinations.”

“Our search for a management firm drew a fiercely competitive field of prospective partners, but we knew that Highgate offered an owner-centric perspective and standard of excellence that is unparalleled,” said Hugo Desenzani, CEO of Urbanova. “Our unique assets and fantastic talent – under the management and leadership of Highgate – will deliver incredible results and raise the hospitality bar in the region.”

About Highgate

Highgate is a leading real estate investment and hospitality management company widely recognized as an innovator in the industry. Highgate is the dominant player in major U.S. gateway cities including New York, Boston, Miami, San Francisco and Honolulu, with a growing footprint in Europe, the Caribbean and Latin America. The hospitality forward company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate has a proven record of developing its diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts with contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team consisting of some of the most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in New York, Dallas, London, Miami, Seattle and Waikiki. www.highgate.com.

About Urbanova

Urbanova is a Peruvian Real Estate group with approximately $2bn of Assets Under Management. Its irreplicable portfolio in premium locations combine over 170,000 Sq ft of prime office buildings, 5 shopping malls, the country’s best hotel portfolio, and a vast landbank to be developed. Leveraging on its ability to develop and operate multiple asset classes, as well as an unparalleled local market knowledge, Urbanova has developed two clusters where Peruvians go to live, work and play. Its affiliate Intursa owns 9 hotels throughout Peru, including iconic city hotels such as the Westin Lima and JW Lima, luxury resorts in remote locations, historic hotels in Cuzco and a lifestyle select-service hotels in vibrant city boroughs. Urbanova Inmobiliaria

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