MELVILLE, NEW YORK The Dow Hotel Co. has acquired the 304-key Hilton Long Island/Huntington in a joint venture with Prudential Insurance Company of America.
The purchase, for an undisclosed amount from Melville Hotel Owner 2010 LLC, is Dow’s seventh such venture with Prudential.
As part of the acquisition plan, the hotel will undergo a US$15 million renovation that will include upgraded hotel rooms, corridors, public spaces, HVAC, parking and landscaping. Dow will manage the property and oversee the enhancement program.
“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,” says Dow CEO Murray L. Dow II. “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 hotels in the Portland, Seattle, Los Angeles, Sacramento, Chicago, Houston, San Antonio and Atlanta markets.
“Melville is a significant business address on Long Island that will become even more important next year when Canon’s North and South American headquarters opens there,” Dow says.
The hotel boasts the largest ballroom and the most meeting space on Long Island. It also features indoor and outdoor pools, a fitness center and tennis courts, as well as two restaurants.