The 225-Key Iconic Hotel Will Introduce the Bespoke AKA Experience to Boston’s Discerning Travelers Who Are Looking for a City Stay
BOSTON, MA – August 16, 2022 – AKA
, global leader in luxury hospitality, continues its strategic growth with the announcement of Hotel AKA Back Bay, the brand’s exciting debut in Boston, MA. Previously the Loews Boston Hotel, the 225-room property will undergo a design refresh, all while open for stays, to ensure facets of AKA are infused into the hotel. Hotel AKA Back Bay will offer a sophisticated design, lifestyle amenities and accommodations with the sense of home in mind. It will serve as the perfect destination to meet the trend of the “bleisure” traveler who is visiting for a business meeting and has the desire to extend their trip for a few extra days to experience the city’s fine offerings.
“As we continue our ambitious yet thoughtful growth strategy, we remain dedicated in our commitment to developing the AKA brand in the country’s most culturally significant destinations,” says Larry Korman, CEO of AKA. “Boston has long been a city of interest and we are delighted to introduce the bespoke AKA experience to Boston’s discerning visitors. Rich with history, bustling with business and educational institutions, as well as architecture and design reminiscent of an English city, Boston is a gateway into New England for the brand.”
The acquisition of the property is a result of Electra America Hospitality Group (EAHG)
, a joint venture between AKA and Electra America
, and marks EAHG’s sixth property since the joint venture launched in early 2021. EAHG is dedicating $20 Million in capital for the design upgrades and renovations to Hotel AKA Back Bay.
“This was an excellent opportunity to acquire a well-maintained, upper upscale hotel in the capital of New England, where several prestigious academic institutions, iconic cultural destinations, and the nation’s largest life science/biotech cluster are generating strong demand,” says Russ Urban, CEO of EAHG. “While Boston’s hotel recovery has trailed some markets, it’s poised for a strong rebound once business and group travel returns in earnest.”
Located at 154 Berkeley Street, in Boston’s affluent shopping and dining district, Hotel AKA Back Bay will offer unparalleled access to a myriad of Boston’s cultural attractions, walking distance to Boston Commons, Boston Public Library and Copley Square. Young professionals and families with ties to Boston’s more than 40 colleges and universities will also pose as a key guest segment for the hotel. Hotel AKA Back Bay is near Berklee College of Music, Boston College, Boston University, Emerson, Harvard, MIT, Northeastern University, and Tufts Medical School. The new hotel will also attract many business travelers visiting the city’s technology, start-up and life sciences companies, key industries that have grown in Boston due to its plethora of higher education institutions and their talents.
As the capital of New England, Boston is filled with many historically significant buildings, including Hotel AKA Back Bay. Originally, the headquarters of The Boston Police Department from 1926 through 1990, the hotel will have nodes to the property’s past, following its design renovation. Renovations to the public spaces include updates to the restaurant and bar, Precinct Kitchen+Bar, serving classic American dishes and New England seafood. Precinct Kitchen+Bar will be home to a whiskey cellar and wine tasting room for guests and events. A new private dining room with a spiral staircase as a focal point will become the go-to spot for meetings and celebrations in Back Bay. The hotel’s lobby will feature a library with an intimate seating area to enjoy morning coffee, afternoon tea and evening cocktails amongst live music. Additional enhancements under renovation include a large, second floor fitness center; tranquil spa; theater; and a newly reimagined rooftop. The 222 guestrooms, two suites and one expansive, one-of-a-kind penthouse suite will undergo a soft design update.
For more information and to book a stay at Hotel AKA Back Bay, please visit the website at https://www.stayaka.com/hotel-aka-backbay
AKA, a global leader in hospitality, offers design-driven, sophisticated accommodations with exceptional business, wellness and first-class lifestyle amenities in iconic neighborhoods. As a pioneer in luxury long stay living, AKA has leveraged its core residential philosophies to evolve the hotel category into a high-quality experience. While each property is unique, they all reflect a tranquil and bespoke design that strikes the perfect balance between the privacy and contentment of a fully appointed residence and the hospitality of an intimate hotel. AKA is a division of Korman Communities, a five generation residential real estate company, with properties in premium destinations in major metropolitan markets, including, New York City, Los Angeles, Philadelphia, Miami, West Palm Beach, D.C., Alexandria, Boston and London neighborhoods.
For more information, visit https://www.stayaka.com/
About Electra America Hospitality Group
Electra America Hospitality Group is a $725 million discretionary hospitality fund formed in 2021. It is part of Electra America, a prominent real estate private equity firm focused on value-add and opportunistic investments in the U.S. Sunbelt markets. With initial capital commitments totaling approximately $2.5 billion across multiple funds managed by the firm and its affiliates, Electra America’s portfolio encompasses more than $7 billion in commercial real estate property holdings and debt in the multifamily, hospitality and single-family rental home sectors. Leveraging decades of expertise, Electra America is committed to transparency, the alignment of interests between sponsors and investors, and delivering superior risk-adjusted returns to its investors and partners. Electra America is a partnership between The Lubeck Family and a subsidiary of Electra Real Estate Ltd., an Israeli company founded in 1972 and publicly traded on the Tel Aviv stock exchange (TLV: ELCRE). For more information, visit www.electramerica.com