Palm Beach, FL — Hospitality Funding announced today the role of advisor in raising equity for the acquisition of six Fairfield Inn by Marriott hotels by Waramaug LS Hotels, LLC, a private investment group. The deal spans 696 rooms located throughout New England.
The portfolio is comprised of the Fairfield Inn Burlington, Williston, Vermont; Fairfield Inn Portsmouth Seacoast, Portsmouth, New Hampshire; Fairfield Inn, Amesbury, Massachusetts; Fairfield Inn Boston Woburn Burlington, Woburn, Massachusetts; Fairfield Inn Boston Tewksbury Andover, Tewksbury, Massachusetts; and the Fairfield Inn New Haven, Wallingford, Connecticut.
The six hotels in the Portfolio are all single building, interior corridor hotels ranging from three to five stories and containing between 105 and 133 guestrooms. They were originally built in the late 1980s as Susse Chalet Hotels.
Of the landmark acquisition, Hospitality Funding’s Chairman, Scott Silver said, “We are excited to continue our successful partnership with Waramaug LS Hotels and are particularly pleased to be able to facilitate the purchase of such an outstanding portfolio.”
Waramaug plans to begin a comprehensive renovation of the portfolio including a transformation of the public spaces, guestrooms, and building exteriors. Plans include adding a porte-cochere as well as an enlarged breakfast area and a state of the art fitness facility. All of these improvements are intended to bring the portfolio up to the standard for the current Fairfield prototype. Interstate Hotels & Resorts has been named as the management company for the portfolio.
