Whitestone Capital, a division of Whitestone Companies, joined forces with PJD Capital to purchase the 152-room Holiday Inn East Mountain in Wilkes Barre, Pennsylvania. This acquisition marks the first joint venture between the two real estate companies.
“We are excited about our new partnership with PJD Capital to reposition this property into a product the Wilkes Barre community has been craving,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “We expect the transformation to happen in two phases with the first phase starting later this year.”
Phase one of the transformation will consist of a complete renovation to all areas of the hotel and a change in the brand. “The property will be converted to a very select class of DoubleTree Hotels,” said Batra. “A DoubleTree in name, driven by the power of Hilton, but not a typical DoubleTree. This property will feel more like a soft brand with design centered around a community-focused, light resort feel.”
The public area renovation will include a lobby redesign to better incorporate a more modern configuration of the restaurant and bar. “We sat down with the Whitestone team and together brainstormed all the different ways we could maximize the potential of this beautiful mountainside property,” said Prakash Datwani, Chief Executive Officer of PJD Capital. “Quickly, two driving thoughts emerged, repositioning the property into an upper upscale mini-resort style facility while also embracing the newest trends in design and event staging.”