Taj Boston

Off market acquisition of a luxury hotel in the heart of Boston, MA.

This celebrated and architecturally significant hotel in the heart of Boston’s historic Back Bay was owned by India-Based Taj Corporation. Through a multi-year courtship, Eastern gained a comprehensive understanding of the seller’s perspective and was able to complete this complex cross-cultural transaction. Eastern formed a top-tier partnership to lead the acquisition and repositioning of this landmark hotel.

The team created an efficient operating plan, renegotiated contracts with employee unions, mapped a redevelopment plan for common areas and guestrooms, and created vision to improve an underutilized rooftop deck. In 2018, the partnership opportunistically sold 95% of the asset to Iconiq Capital, capturing $45M in profit in a 21-month period. Today, “The Newbury” is one of Boston’s top hotels.