Waramaug Hospitality, Interstate Acquire Sheraton Albuquerque
Wednesday December 18th, 2013 - 10:17AM E
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BOCA RATON, FL—A joint venture consisting of Waramaug Hospitality and Interstate Hotels & Resorts, as well as an alternate money management firm, have acquired the 276-room Sheraton Albuquerque Airport Hotel.
This is the seventh hotel acquired by the joint venture. The Sheraton Albuquerque Airport Hotel recently completed a $14 million renovation and includes views of the Sandia Mountains and Rio Grande Valley. It is located near area attractions such as the Historic Old Town, the eclectic Nob Hill, University of New Mexico, the ABQ BioPark and several golf courses.
The hotel will remain a Sheraton property and will be managed by Interstate Hotels & Resorts.
Tags: Sheraton Albuquerque Airport Hotel • Waramaug Hospitality • Interstate • 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.