Wheelock Street Capital Acquires Six Hotel Select-Service Portfolio
Wednesday July 24th, 2013 - 12:41PM E
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GREENWICH, CT—Affiliates of Wheelock Street Capital have acquired a six hotel portfolio, with a total of 703 guestrooms, located in Texas, Tennessee and Ohio.
Wheelock acquired the hotels from affiliates of Lingate Hospitality Group, which will continue to manage the hotels. The properties include the 138-room Hilton Garden Inn-Austin Arboretum, the 113-room Marriott Courtyard-Round Rock and the 125-room Marriott Courtyard-College Station in Texas; the 94-room Marriott Courtyard-Opryland and the 109-room Fairfield Inn and Suites-Opryland in Nashville; and the 124-room Springhill Suites-Cincinnati North in Ohio.
The terms of the transaction were not disclosed.
Wheelock Street Capital currently owns 26 hotels with over 4,900 guestrooms.
Tags: • 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.