Waramaug Hospitality Acquires Airport Holiday Inn
Wednesday June 25th, 2014 - 9:20AM E
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MILWAUKEE, WI—Waramaug Hospitality acquired the 130-unit Holiday Inn & Suites Milwaukee Airport Hotel, representing its sixth acquisition in as many months.
Opened in 2000, the hotel is one mile from both General Mitchell International Airport and Interstate 94/43 and is convenient to downtown Milwaukee, the Milwaukee Convention Center, Miller Park and the Bradley Center. It features 32 suites, which make up 25% of the guestroom inventory.
“The Holiday Inn & Suites has a perfect mix of guestroom and facilities that will allow us to realize efficiencies of a select-service hotel but at a full-service level since it does not carry a high room count or large food and beverage operation. That bodes well for positive realization of profit margins and high growth potential,” stated Paul Nussbaum, Waramaug Hospitality’s founder and managing partner.
Waramaug is planning a renovation of its guestrooms, according to the company.
Tags: Waramaug Hospitality • Holiday Inn & Suites Milwaukee Airport Hotel • Hospitality • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.