Waramaug LS Hotels Completes Renovations of Extended Stay Portfolio Including Three SpringHill Suites and Seven TownPlace Suites
June 7, 2017 10:02am
Jun. 7, 2017, Boca Raton, Fla.— Waramaug LS Hotels LLC (or Waramaug), a private investment group, has completed extensive renovations of a portfolio of extended-stay hotels. The properties are located throughout the strategic submarkets of Minneapolis, Milwaukee and Detroit with three SpringHill Suites by Marriott and seven TownPlace Suites by Marriott totaling ten properties and 1,103 rooms. The portfolio is owned by a partnership with Waramaug, Interstate Hotels & Resorts, and Gatehouse Capital, an advisory client of Arch Street Capital Advisors, LLC. Gatehouse Capital is a part of the larger Gatehouse Financial Group, Ltd. The hotels are operated by Interstate Hotels & Resorts.
The portfolio includes the SpringHill Suites by Marriott Minneapolis Eden Prairie, Eden Prairie, Minn.; SpringHill Suites by Marriott Minneapolis St. Paul Airport/Eagan, Eagan, Minn.; SpringHill Suites by Marriott Minneapolis West/St. Louis Park; St. Louis Park, Minn.; TownePlace Suites by Marriott, Detroit Dearborn, Dearborn, Minn.; TownePlace Suites by Marriott Detroit Livonia, Livonia, Minn.; TownePlace Suites by Marriott Detroit Sterling Heights, Sterling Heights, Minn.; TownePlace Suites by Marriott Milwaukee Brookfield, Brookfield, Wis.; TownePlace Suites by Marriott Eden Prairie, Eden Prairie, Minn.; TownePlace Suites by Marriott Minneapolis St. Paul Airport/Eagan, Eagan, Minn.; TownePlace Suites by Marriott Minneapolis West/St. Louis Park, St. Louis, Park, Minn.
The renovations began shortly after purchase and included the complete renovation of all guest rooms and corridors, including all new finishes and case goods, all bathrooms and the expansion and replacement of all equipment in the exercise room.
"These newly renovated properties are now able to be more competitive and outperform their competition," said Paul Nussbaum, Founder, and Chairman, Waramaug Hospitality. "We are confident they will enjoy continued rate and occupancy growth to maximize our investment returns, and all the properties are now on pace to reach their budgeted goals and exceed guest expectations in their respective markets.
"This was an intensive undertaking by our team," said Jay Litt, Principal, The Litt Group. "We renovated ten assets in a 15-month timeframe during a Mid-West winter."
interstate hotels & resorts,
Waramaug LS Hotels LLC is based in Boca Raton, Florida, and is a privately held investment group that was formed in 2013 by Paul Nussbaum, Paul Stern, and another senior hotel professional. Waramaug LS Hotels focuses on acquiring legacy branded select-service hotels in strong secondary and tertiary markets throughout the United States. For more information, contact Paul Stern at firstname.lastname@example.org.
Contact: Paul Stern
Greg O'Stean Named Chief Development Officer-North America of Interstate Hotels & Resorts
Interstate Hotels & Resorts Selected by Borealis Hotel Group for Management of 12 Hotels in Western Europe
Interstate Hotels & Resorts Acquires Gateway Hospitality Group Management Platform
Interstate Names Rogier Hurkmans as Regional Vice President of Operations, Continental Europe
Waramaug LS Hotels LLC Acquires Candlewood Suites Athens, Georgia; Renovation Planned
Andrew Jordan Named Chief Marketing Officer of Interstate Hotels & Resorts
Interstate Hotels & Resorts Executes Three New Hotel Management Agreements Within Its Asia Investment Group
PNK Group & Hyatt to Bring New Build Unbound Collection by Hyatt to Hollywood, California
Interstate Hotels & Resorts Completes Acquisition of 83 Property Management Agreements from White Lodging
Interstate Hotels & Resorts Selected to Manage Renaissance Philadelphia Airport Hotel
Interstate Hotels & Resorts Executes Agreement to Acquire the Management Agreements of 83 Properties from White Lodging
Interstate Hotels & Resorts Adds Three Branded Hotels to Its Management Portfolio
Interstate Launches New Lifestyle Softbrand, INTRIGUE Hotels & Resorts by Interstate
Interstate Hotels & Resorts Opens New Hilton Dual-Branded Hotel at Los Angeles International Airport (LAX)
Aimbridge Hospitality Opens New Home2 Suites by Hilton Dallas Downtown at Baylor Scott & White in Texas
Interstate Hotels & Resorts to Manage Florida's 294-Room Hyatt Regency Sarasota
John A. Rubino Promoted to Executive Vice President of Interstate's Crossroads® Hospitality Division
Yareton Investment & Management and Interstate Hotels & Resorts Break Ground on Marriott Seattle Tacoma, Washington
Interstate Hotels & Resorts Executed 24 YTD Management Agreements for Hotels Under Development or Construction
Michael J. Deitemeyer Named Chief Executive Officer of Interstate Hotels & Resorts
Please login or register to post a comment.