August 30, 2014 4:36 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Carey Watermark Investors Incorporated

Company Overview

Carey Watermark Investors Incorporated, together with its subsidiaries, operates as a real estate investment trust primarily in the United States. It engages in acquiring, owning, disposing, managing, and seeking interests in lodging and lodging related properties. The company has elected to be taxed as a real estate investment trust and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Carey Watermark Investors Incorporated was founded in 2008 and is based in New York, New York.

50 Rockefeller Plaza

New York, NY 10020

United States

Founded in 2008



Key Executives for Carey Watermark Investors Incorporated

Chief Executive Officer and Director
Age: 53
Chief Financial Officer and Chief Administrative Officer
Age: 54
Chief Operating Officer
Age: 60
Managing Director and Secretary
Age: 45
Chief Accounting Officer
Age: 46
Compensation as of Fiscal Year 2014.

Carey Watermark Investors Incorporated Key Developments

Carey Watermark Investors Incorporated Acquires Sheraton Austin Hotel at the Capitol

Carey Watermark Investors Incorporated announced that it has acquired the Sheraton Austin Hotel at the Capitol, a 365-room full-service hotel, through a joint venture with JMI Realty. CWI holds an 80% interest in the joint venture and JMI Realty, a private real estate investment and development company based in Austin, TX, holds a 20% ownership interest. Strong market: Austin offers a wide variety of attractions that draw nearly 20 million visitors each year. The diverse business mix of stable government and university-related business and rapidly growing technology and entertainment sectors has positioned Austin as one of the top performing lodging markets in the United States. Since 2003, RevPAR in Austin has increased at a 6.7% CAGR, which is well in excess of the average of 4.2% for the Top-25 U.S. lodging markets as a whole. Downtown location: Located in the heart of downtown Austin, the Sheraton Austin Hotel at the Capitol benefits from being the closest full-service hotel to the entrance of the Capitol and University of Texas' Football Stadium and Frank Erwin Center, while only being five blocks from the Central Business District/6th Street entertainment district. It is also adjacent to the new UT Medical School and redevelopment of Waller Creek. Planned Property Enhancements: The hotel will undergo a comprehensive renovation including guestrooms and public spaces at an estimated cost of over $6 million. Strong brand affiliation: The Sheraton brand is Starwood Hotels & Resorts' large brand with a total of 427 properties and 149,800 rooms worldwide. The Sheraton Austin Hotel at the Capitol benefits from Starwood's Preferred Guest program, which has over 17 million active members and is considered one of the most loyal guest programs in the hospitality industry. Management: The hotel will continue to be managed by an affiliate of HEI Hotels & Resorts, which operates six Sheratons and a total of 18 Starwood properties in the U.S. Property and amenities: 365 rooms housed in 15 stories, 17,250 square feet of meeting and function space including a 9,650 square foot ballroom, Indoor/outdoor pool, business center and Sheraton Core Fitness Center, Three-meal Landmark Restaurant and lobby bar.

Carey Watermark Investors Incorporated, Annual General Meeting, Jun 26, 2014

Carey Watermark Investors Incorporated, Annual General Meeting, Jun 26, 2014., at 16:00 US Eastern Standard Time. Location: 50 Rockefeller Plaza. Agenda: To consider and vote upon a proposal to elect six Directors to serve until the 2015 annual meeting and until their respective successors are duly elected and qualify; and to transact such other business as may properly come before the Annual Meeting or any adjournment or postponement of the Annual Meeting.

Carey Watermark Investors Acquires the Renaissance Chicago Downtown Hotel for $139 Million

Carey Watermark Investors Incorporated announced that it has acquired the Renaissance Chicago Downtown Hotel, a 553-room full-service hotel, located at 1 West Wacker Drive across from the Chicago River in downtown Chicago, for $139 million. Strong market: The hotel is an institutional quality asset located in Chicago, the third metropolitan area and lodging market in the United States; the financial, industrial, agricultural, transportation and tourism center of the Midwest; and home to McCormick Place. Central riverfront location: Located across from and overlooking the Chicago River in the heart of Chicago's Central Business District, the hotel is proximate to 129 million square feet of office space and leisure destinations such as Millennium Park, Navy Pier, the Magnificent Mile and River North entertainment district. Attractive purchase price: Includes $139 million purchase price in addition to $27 million of renovations and other acquisition-related costs. The acquisition was financed with $90 million of debt. Strong brand affiliation: The property will continue to be managed by Marriott International under a long-term management agreement, which allows the property to benefit from Marriott's wide distribution network, strong reservation system and renowned Marriott Rewards program. Property and amenities: 553 rooms and 27 stories; 533,323 square feet, including 35,000 square feet of premier meeting space and 7,800 square feet of retail space; Constructed in 1991 with renovations in 2005, 2012 and 2013; 1.2 acres subject to long-term ground lease though June 2087; Indoor pool and whirlpool, full service spa, fitness and business centers; Three food and beverage outlets: Great Street Restaurant (three-meal restaurant), Bar Novo and Aroma Cafe.

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