BOCA RATON, FL—Private investment group Waramaug LS Hotels LLC has completed extensive renovations of a portfolio of extended-stay hotels.
The properties are located throughout the strategic submarkets of Minneapolis, Milwaukee and Detroit with three SpringHill Suites by Marriott and seven TownPlace Suites by Marriott totaling 10 properties and 1,103 rooms.
The portfolio is owned by a partnership with Waramaug, Interstate Hotels & Resorts and Gatehouse Capital, an advisory client of Arch Street Capital Advisors LLC. Gatehouse Capital is a part of the larger Gatehouse Financial Group Ltd. The hotels are operated by Interstate Hotels & Resorts.
The portfolio includes the SpringHill Suites by Marriott Minneapolis Eden Prairie, Eden Prairie, MN; SpringHill Suites by Marriott Minneapolis St. Paul Airport/Eagan, Eagan, MN; SpringHill Suites by Marriott Minneapolis West/St. Louis Park; St. Louis Park, MN; TownePlace Suites by Marriott, Detroit Dearborn, Dearborn, MI; TownePlace Suites by Marriott Detroit Livonia, Livonia, MN; TownePlace Suites by Marriott Detroit Sterling Heights, Sterling Heights, MN; TownePlace Suites by Marriott Milwaukee Brookfield, Brookfield, WI; TownePlace Suites by Marriott Eden Prairie, Eden Prairie, MN; TownePlace Suites by Marriott Minneapolis St. Paul Airport/Eagan, Eagan, MN; TownePlace Suites by Marriott Minneapolis West/St. Louis Park, St. Louis, Park, MN.
The renovations began shortly after purchase and included the complete renovation of all guestrooms and corridors, including new finishes and casegoods, all bathrooms and the expansion and replacement of all equipment in the exercise room.
“These newly renovated properties are now able to be more competitive and outperform their competition,” said Paul Nussbaum, founder and chairman, Waramaug Hospitality. “We are confident they will enjoy continued rate and occupancy growth to maximize our investment returns, and all the properties are now on pace to reach their budgeted goals and exceed guest expectations in their respective markets.”
“This was an intensive undertaking by our team,” said Jay Litt, principal, The Litt Group. “We renovated 10 assets in a 15-month timeframe during a Midwest winter.”