SAINT LOUIS, MO, June 18, 2015 – Midas Hospitality, a St. Louis-based hotel owner, operator and developer announces the sale of Staybridge Suites – Columbus, OH, Residence Inn by Marriott – Dublin, OH and the Residence Inn by Marriott – Worthington, OH.
An investment group led by Midas Hospitality, LLC purchased the Staybridge Suites – Dublin, OH in December, 2011 and the Residence Inn by Marriott – Worthington, OH in May, 2013, successfully repositioned the assets along with a $2M and $3M renovation respectively. Recently announced, Midas Hospitality completed and opened the Residence Inn by Marriott – Dublin, OH, June 5, 2015.
J. T. Norville, Managing Member, states “Although a very difficult decision to sell these great assets, the successful repositioning of the hotels provided increased asset value, which resulted in a great return to our investment group. This portfolio sale will provide our investors additional opportunity to reinvest in our aggressive asset development pipeline.” Midas Hospitality, LLC currently has nine hotels in development including projects in St. Louis, MO, KS, SC and LA, all to open in the next 2 – 15 months.
