Apparent sale agreement casts doubt on future of Stamford Hilton
STAMFORD — An apparent agreement to sell and redevelop the Stamford Hilton has raised questions about the hotel’s future.
Alpine Acquisition Corp., a “blank check company” formed to enact transactions such as a merger with one or more businesses, announced in a news release earlier this month a definitive agreement with affiliates of Atrium Hospitality LP, to acquire for $65 million in cash and stock “two full-service conference hotels with 739 rooms and 135,000 square feet of conference facilities located in Denver and Stamford.” Atrium is the manager of the Hilton in the First Stamford Place complex, a couple of blocks from the downtown Stamford Metro-North Railroad station.
At the same time, Alpine announced that it would acquire in a $50 million all-stock transaction Two Bit Circus, which has a “micro-amusement park” in Los Angeles and another such property set to open soon in Dallas. After the transactions close, likely in the third quarter of this year, the Stamford and Denver properties would be rebranded to Revelers Resorts, “using Two Bit Circus’ proprietary technology and entertainment experiences,” and Alpine would “commence transformational renovations of both properties.”
The combined company is expected to be renamed “Two Bit Entertainment Corp.,” and be listed on the NASDAQ exchange under the symbol “REVE.”
“Two Bit Circus Inc., is an industry leader in experiential technology entertainment, and we look forward to joining with their talented team of innovators and their extensive portfolio of social experiences to create a new one-of-a-kind world-class family entertainment brand,” Alpine Chairman Elan Blutinger said in a statement. “And purchasing two well located conference center hotels aligns with our team’s background in hospitality entertainment.”
In response to an inquiry from Hearst Connecticut Media, Atrium provided a statement that indicated the Stamford Hilton was the property referenced in the news release.
“The Hilton Stamford Hotel & Executive Meeting Center in Connecticut remains open to welcome all guests and to safely host events in more than 60,000 square feet of customizable meeting space, including the largest grand ballroom in Connecticut,” the statement said. “The 484-room/suite hotel continues to be managed by Atrium Hospitality… Questions about the pending transaction should be directed to Alpine Acquisition Corp.”
Messages left for an Alpine spokesperson were not returned.
Amid the apparent plans for redevelopment, Stamford Land Use Bureau Chief Ralph Blessing said in an email that “we don’t have any applications for the Hilton at this time.”
Officials at the Unite Here union’s Local 217, which represents about 90 Stamford Hilton workers, said in a statement that “we are in the process of settling a good contract for our members that sets an excellent union standard in Stamford and look forward to any discussions about the future of the hotel.”
Among other changes to Stamford’s hotel roster in recent years, The Stamford opened last year at 700 E. Main St., replacing a Sheraton that closed in 2020. Also in 2020, The Lloyd, one of Hilton’s Tapestry Collection properties, opened at 909 Washington Blvd., succeeding a Hotel Zero Degrees. In 2018, a Marriott Residence Inn opened in a redeveloped property at 25 Atlantic St.
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