Continuing a significant expansion of its hotel investment platform, the company marks its eighth acquisition in the last ten months.
CHICAGO – Arbor Lodging Partners, a leading fully-integrated owner and operator of hotels, announced that, through an affiliate, it has acquired two select service extended-stay hotels in Indianapolis: the TownePlace Suites Indianapolis Keystone, an 82-room hotel, and the TownePlace Suites Indianapolis Park 100, a 94-room property. NVN Hotels, an affiliate of Arbor, will manage the two hotels.
The two hotels are part of the TownePlace Suites by Marriott brand, and offer an all-suites concept that caters to business travelers. The residential style suites come in studio, one-bedroom and two-bedroom unit sizes, and offer amenities including ample work space and living areas, and full-sized, fully-equipped kitchens.
The TownePlace Suites Indianapolis Park 100.
Vamsi Bonthala, CEO of Arbor Lodging Partners, observed, “We are bullish on select service hotels, and particularly the extended-stay model. We believe this is a corner of the market that carries great potential to add value to the properties.” Bonthala continued, “These hotels are well-located and fit our investment parameters for well-located, high quality properties.”
In addition to twenty first-mortgage loans recently acquired by Arbor, the acquisition marks the seventh and eighth hotels acquired by the firm in the last ten months. “Our hotel platform is in expansion mode; we’re very pleased to be adding these two Marriott-branded properties to both our ownership and management portfolios,” added Arbor Lodging Partners principal Sheenal Patel, also CEO of NVN Hotels.
Photo caption: The TownePlace Suites Indianapolis Keystone.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
