NATIONAL REPORT—Ocotillo Hospitality, Neema Hospitality, and Silverwest Hotels are among the companies seeing acquisition activity. Here’s a look at recent acquisitions:
Ocotillo Hospitality Buys Arizona’s Holiday Inn Ocotillo
HREC Investment Advisors has arranged the sale of the 106-room Holiday Inn Ocotillo located in Chandler, AZ. Ocotillo Hospitality acquired the property. HREC exclusively represented the buyer during the transaction. The sale was negotiated by Bill Murney, managing director in HREC’s Phoenix office.
Neema Hospitality Acquires Two Pittsburgh Properties
Neema Hospitality has purchased the 75-room Fairfield Inn & Suites in Slippery Rock, PA and the 90-room Holiday Inn Express & Suites hotel in Canonsburg, PA. The purchase of the two assets over the last few months increases the hotel ownership and management company’s portfolio to 11 hotels across Pennsylvania, Maryland, and West Virginia.
Silverwest Hotels Acquires Homewood Suites Denver Tech Center Hotel
Silverwest Hotels has acquired the Homewood Suites by Hilton Denver Tech Center hotel in Englewood, CO. The property is the 10th acquisition by the investment and management company since its founding in 2013 and the company’s fifth Hilton-affiliated hotel. In 2019, Silverwest will implement a renovation of the Homewood DTC hotel to bring it current with the needs of the latest Hilton standards.