Waramaug, Condor Make Hotel Buys

NATIONAL REPORT—Waramaug LS Hotels LLC acquired the Candlewood Suites Athens, Georgia, and Condor Hospitality Trust recently closed on its acquisition of the Home2 Suites Summerville-Charleston. Here’s a closer look at the two transactions:

Candlewood Suites in Athens, GA

Waramaug LS Hotels LLC, a private investment group focused on acquiring legacy branded assets throughout the United States, has acquired the Candlewood Suites, Athens, GA.

The four-story, 97-suite hotel has rooms with fully equipped kitchens, free WiFi, fitness and business center, on-site laundry service, outdoor gazebo, grill and picnic tables.

Waramaug is planning a comprehensive renovation of the 2009-built property this year to bring it up to current Candlewood brand standards in all areas, including guestrooms, public spaces, and the exterior. Interstate Hotels & Resorts will manage the property.

Home2 Suites by Hilton in Summerville, SC

Condor Hospitality Trust Inc., a hotel-focused real estate investment trust (REIT) closed on its previously announced agreement to purchase the 93-room Home2 Suites by Hilton located in Summerville, SC, a suburb of Charleston. The hotel was purchased for $16.325 million and will be managed by Inn Ventures.

“We now have acquired approximately $276 million of acquisitions since the fourth quarter of 2015, representing fourteen high-quality, premium-branded select-service hotels flagged under the leading Marriott, Hilton and IHG hotel brands,” said Bill Blackham, Condor’s CEO.

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