JOINT VENTURE ACQUIRES 194-ROOM HYATT REGENCY SUITES

PALM SPRINGS, CALIF. — RockBridge Partners, an affiliate of RockBridge Capital LLC, and Davidson Hotel Company have acquired Hyatt Regency Suites in Palm Springs from PSH Holdings Inc. for an undisclosed price. Located at 285 N. Palm Canyon Dr., the property features 194 one-bedroom suites, private balconies, mountain/desert views, high-speed Internet access, a full-service dining room, a putting green, a pool, a spa and 9,200 square feet of flexible meeting space. An $18.5 million renovation is planned for the property. The renovation, which will begin summer 2009, will upgrade virtually every aspect of the property. Davidson, who holds a minority interest in the joint venture, will coordinate the renovation and manage the hotel. Newport Beach, Calif.-based Maxim Hotel Brokers advised both parties in the transaction.