MILWAUKEE, Oct. 31, 2016 — Arbor Lodging Partners ("Arbor"), a leading fully integrated owner and operator of hotels nationwide, announced today that, through an affiliate, it has acquired the Fairfield Inn & Suites Milwaukee Downtown, a 103-room select-service hotel, located at 710 N. Old World Third Street. NVN Hotels will manage the hotel, effective immediately, and will make improvements to the hotel, maintaining its affiliation with Marriott's "Fairfield Inn & Suites" flag. Located in the 1924 Straus Building in Milwaukee's flourishing central business district, the property is on the National Register of Historic Places kept by the U.S. Department of the Interior.
The acquisition marks Arbor's entry into downtown Milwaukee, where an urban revival has attracted significant corporate and residential development over the past decade. The hotel is located steps from the Milwaukee Art Museum, BMO/Harris Bradley Center, major corporate offices, and a bustling dining and entertainment district.
"We're pleased to join the downtown Milwaukee community, which has shown significant population and development growth over the past decade that outpaces other cities of its size," commented Vamsi Bonthala, CEO of Arbor Lodging Partners. "This acquisition is a good strategic fit, fulfilling our interest in both yield-driven investments in high-potential markets and unique and historic restoration opportunities."
"We're pleased to strengthen our relationship with the Marriott family of brands with this acquisition," added Sheenal Patel, CEO of NVN Hotels. "We'll continue to offer travelers visiting Milwaukee the high level of service they can always expect from the Marriott brand."
Fairfield Inn & Suites Downtown Milwaukee features contemporary accommodations and a stylish urban warehouse lobby reminiscent of Milwaukee's yesteryear. All guest rooms are equipped with complimentary high-speed Internet and a refrigerator; additionally, the suites provide more space along with the convenience of a microwave and other upgraded amenities. Guests also have access to a complimentary hot breakfast buffet. The hotel most recently underwent a major renovation completed in 2013, and Arbor plans to refresh guest rooms and make updates to the building's historic façade.
