GR firm partners with West Michigan hotelier to turn around new hotel
ACRE Holdings, an hospitality-focused real estate investment firm, is partnering with Holland hotelier Peter D. Beukema to turn around the new Avid Hotel in Zeeland.
A Grand Rapids real estate investment firm is partnering with a Holland hotelier to acquire a new but struggling hotel along the Lakeshore.
ACRE Holdings, which specializes in the hospitality market, is part of an effort to turn around Avid Hotel in Zeeland, in partnership with 6PM Hospitality Partners. Under the terms of the deal that closed Dec. 7, ACRE Holdings’ affiliate, AccomplishPM LLC, underwrote the acquisition and will provide asset management services. 6PM Hospitality Partners will oversee day-to-day management.
“The Avid Hotel is a well-built asset with a ton of potential,” explains Andrea Scott, partner of ACRE Holdings. “The hotel will benefit from focused leadership, sales efforts, and attention to detail. The proven operational excellence and local presence of 6PM Hospitality Partners are what the Avid Hotel needs to be successful.”
Finding its place in the market
Heading that turnaround is longtime hotelier Peter D. Beukema, CEO of 6PM Hospitality Partners, a firm that develops hospitality venues in unique locations. Its properties include Tulyp Hotel in Holland, which is part of the Hilton Tapestry family of hotels; a Hampton Inn & Suites on the beachfront in Manistee; and a DoubleTree by Hilton in downtown Battle Creek, which is in development.
The Avid Hotel sits in a high-traffic spot, at 8225 Westpark Way, near I-196 and Chicago Drive. Beukema plans to reposition the 92-room hotel within the market.
“Between COVID and the past two summers of highway construction, the property hasn’t had the ability to find its true place in the Holland/Zeeland hotel market,” Beukema says.
Beukema launched his firm in 2021 after stepping down as CEO of his family’s business, Suburban Inns, to start his own venture.
Beukema serves on the Holland SmartZone Board, which works to spur technology development and business creation in the Holland area.
He also serves on the Michigan Restaurant and Lodging Association board of directors and is a board member of the Gerald R. Ford International Airport Authority.
Nationally, he is a member of the InterContinental Hotels Group Owners Association.
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